203 Pettit St · Vonore, TN 37885

$169,000

2 bd · 1.0 ba · 768 sqft · Manufactured public records · 15 Days on market

Built 2012 8,712 sqft lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely Remodeled and Move-In Ready for Under $170,000! Affordable homes this nice are hard to find. Located in the city limits of Vonore, this beautifully updated 2-bedroom, 1-bath manufactured home offers a light, bright, and airy open-concept floor plan with modern finishes throughout. The spacious kitchen features brand-new appliances, including a refrigerator, dishwasher, and range, plus a beautiful wood-top island perfect for gathering and everyday living. Situated on a level 0.20-acre lot with a nice front and backyard, this property offers city conveniences and easy access to local amenities. Enjoy nearby Tellico Lake, the Little Tennessee River, parks, boat launches, marinas, shopping, restaurants, and medical services. Conveniently located just off Highway 411, making commuting and daily errands a breeze. Whether you're a first-time buyer, downsizing, or looking for an affordable East Tennessee home, this turnkey property is ready for its next owner. Vacant and available for quick possession. Cash or conventional financing only.

Key facts

• Remodeled
• Brand new appliances
• Modern finishes

Tags

• REMODELED
• MOVE IN READY
• OPEN CONCEPT FLOOR PLAN
• MODERN FINISHES
• BRAND NEW APPLIANCES
• WOOD TOP ISLAND

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public sewer
• Home design: Single-family (not attached); Approximately 800 building area (owner provided)
• Construction: Vinyl siding; Other construction materials
• Exterior features: Level lot

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central cooling
• Interior features: Total of 5 rooms; Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $169k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (6.2% below list).
• Recommended offer: $158k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.7% in Vonore — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#290 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, employment D, schools F.
• Monroe County (rural): math 20% / reading 24% proficiency, ranked #106 of 139 in TN (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 200 active listings in the ZIP; 157 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $169k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,495 (6.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $99,072
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 Old Slag Rd	0.55mi	3/2.0 (+1)	840 (+9%)	14mo	$108,000	$129	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-11,087
• Equity at exit: $25,198

10-year hold

• IRR: 3.3%
• Equity multiple: 1.23×
• Total profit: $11,103
• Equity at exit: $14,612

Cash invested: $47,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Tennessee: 87 Strongly Landlord-Friendly · R+13
• County: — inherits STATE
• City: — inherits STATE

14-day notice (URLTA); generally landlord-favorable; Nashville court paced moderate.

Methodology + full state rankings →

ZIP-level market 37885

• Home prices YoY: -7.8%
• Active inventory: 200
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,585 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$38 /mo · $459/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $257

Break-even live

Break-even rent $1,259

Max offer price $169,000

Occupancy floor 79%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $169,000 Active 15 DOM
2. 2026-06-17
   days on market $169,000 Active 14 DOM
3. 2026-06-16
   days on market $169,000 Active 13 DOM
4. 2026-06-15
   days on market $169,000 Active 12 DOM
5. 2026-06-14
   days on market $169,000 Active 10 DOM
6. 2026-06-13
   days on market $169,000 Active 9 DOM
7. 2026-06-10
   days on market $169,000 Active 7 DOM
8. 2026-06-09
   days on market $169,000 Active 6 DOM
9. 2026-06-08
   days on market $169,000 Active 5 DOM
10. 2026-06-07
    days on market $169,000 Active 4 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $169,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TN · Resets to sale price

• Current annual tax: $459 · $38/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$741/yr (+$62/mo · 161.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,019
• − Mortgage interest: −$9,467
• − Property taxes: −$459
• − Insurance: −$845
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$4,916
• Taxable income: $289
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $3,017/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Monroe County
• NCES district ID: 4703000
• Math proficiency: 20% ▼ -8.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $36,701
• Composite: 18.29/100
• National rank: #8956
• State rank: #106 of 139 in TN

Livability — Vonore

• Score: 59/100
• State rank: #290
• US rank: #20399

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vonore, TN
• Population (ZIP): 6,120

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 47,571 people
• By 2030: 48,155 · +1.2%
• By 2040: 48,772 · +2.5%
• By 2050: 48,698 · +2.4%
• By 2075: 48,558 · +2.1%
• By 2100: 47,543 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+66.8) · D 16.2% · R 83.0%
• 2008→2024 swing: -28.5pp toward R · 2008: -38.3pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+62.6 2016: R+59.7 2012: R+45.0 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.41%
• Current HPI: 216.947
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

Industry mix (Fortune 500 HQ in TN)

Industry	F500 HQs	Revenue
▸Healthcare	3	$91B
▸Retail	3	$72B
▸Transportation / Logistics	1	$88B
▸Paper / Packaging	1	$19B
▸Insurance	1	$13B
▸Energy	1	$12B

Price history

+2314.3% since first listed

14 events — show timeline

• 2026-06-03 Listed $169,000 Knoxville MLS
• 2026-06-03 Listed $169,000 GSMAR
• 2025-05-19 Sold (MLS) $105,000 Knoxville MLS
• 2025-05-19 Sold (MLS) $105,000 REALTRACS as Distributed by MLS Grid
• 2025-04-17 Pending — Knoxville MLS
• 2025-03-24 Listed $124,900 Knoxville MLS
• 2024-11-17 Listing Removed — Knoxville MLS
• 2024-11-04 Listed $105,000 Knoxville MLS
• 2024-09-30 Listing Removed — Knoxville MLS
• 2024-09-04 Listed $124,900 Knoxville MLS
• 2024-08-30 Listing Removed — Knoxville MLS
• 2024-08-22 Price Changed $124,900 Knoxville MLS
• 2024-08-04 Listed $130,000 Knoxville MLS
• 1994-11-01 Sold (Public Records) $7,000 Public Records

Property tax history

+19.4%/yr

Latest (2025): $459 · +19.2% YoY. Source: county tax records.