550 W 7th North St · Morristown, TN 37814

$109,000

3 bd · 1.0 ba · 1,126 sqft · SingleFamily public records · 1 Days on market

Built 1906 0.26 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investment property, two blocks from Hospital, close to downtown shopping, Minutes to lake, parks, mall, and much, much more.

Key facts

• Mall
• Minutes to lake
• Parks

Tags

• TWO BLOCKS FROM HOSPITAL
• CLOSE TO DOWNTOWN SHOPPING
• MINUTES TO LAKE
• PARKS
• MALL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Cap rate 11.2% vs local median 2.9% in Morristown — 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 64/100 on livability (#175 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime F, amenities F, commute F.
• Hamblen County (urban): math 31% / reading 30% proficiency, ranked #57 of 139 in TN (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Elementary (math 32% / reading 27%, grade F, #423 of 952 statewide, top 48%, 432 students, 0% FRL); Lincoln Heights Middle School (math 23% / reading 18%, grade F, #194 of 333 statewide, top 59%, 561 students, 0% FRL); Morristown West High (math 13% / reading 44%, grade F, #96 of 332 statewide, top 30%, 1,506 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 332 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 298 units permitted in Hamblen County in 2024 (48 in 5+ unit buildings).
• This rent runs 30% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $85k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,000

Questions for the listing agent

1. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.45%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $240,964
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
544 W 7th North St	0.01mi	3/1.0	1,120 (-0%)	1mo	$252,250	$225	98
550 W 7th North St	0.00mi	3/2.0	1,126 (0%)	1mo	$120,000	$107	95
523 N Jackson St	0.19mi	4/1.0 (+1)	1,130 (+0%)	2mo	$150,000	$133	84
1011 Mcfarland St	0.22mi	2/1.0 (-1)	1,110 (-1%)	8mo	$279,900	$252	75
1021 Ridgecrest St	0.32mi	3/2.0	1,152 (+2%)	4mo	$275,900	$239	74
1035 W 6th North St	0.35mi	3/2.0	1,050 (-7%)	4mo	$235,000	$224	65
1030 W 5th North St	0.35mi	3/2.0	1,050 (-7%)	4mo	$235,000	$224	65
210 W 6th North St	0.30mi	2/1.5 (-1)	1,053 (-6%)	7mo	$175,500	$167	62
1027 Penny Ln	0.51mi	3/1.0	1,080 (-4%)	11mo	$175,000	$162	60
1200 Virginia Ave	0.32mi	3/2.0	1,176 (+4%)	18mo	$249,900	$213	59
616 Rosedale Ave	0.74mi	3/1.0	1,064 (-6%)	9mo	$228,000	$214	49
1711 Cherokee Dr	0.75mi	3/1.0	1,160 (+3%)	19mo	$199,900	$172	44

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: 8.8%
• Equity multiple: 1.35×
• Total profit: $10,571
• Equity at exit: $16,252

10-year hold

• IRR: 18.0%
• Equity multiple: 2.49×
• Total profit: $45,480
• Equity at exit: $9,424

Cash invested: $30,520 (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 37814

• Home prices YoY: -17.1%
• Active inventory: 332
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$54 /mo · $650/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $444

Break-even live

Break-even rent $850

Max offer price $109,000

Occupancy floor 64%

Sensitivity live

Price	-10% $505	-5% $475	+0% $444	+5% $413	+10% $382
Rent	-10% $332	-5% $388	+0% $444	+5% $500	+10% $555
Rate	-1.0pp $499	-0.5pp $471	base $444	+0.5pp $416	+1.0pp $387

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
578 Housley St Morristown, TN	2.0	2.0	949	$890	$0.94	22d	1	0.59mi

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-27
   listed $109,000 Active
3. 2025-07-16
   soldstatus $85,000
4. 2019-12-21
   listed $89,900
5. 1991-01-15
   soldstatus $21,579
6. 1988-10-17
   soldstatus $20,000

ⓘ 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: $650 · $54/mo
• Projected year-2 tax: $774 · $64/mo
• Expected delta: +$124/yr (+$10/mo · 19.1%)

ⓘ 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 5/10 Major 7 d/yr ≥101°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,936
• − Mortgage interest: −$6,106
• − Property taxes: −$650
• − Insurance: −$545
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$3,171
• Taxable income: $3,755
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $4,424/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: Hamblen County
• NCES district ID: 4700001
• Math proficiency: 31% ▼ -5.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $39,361
• Composite: 25.61/100
• National rank: #7412
• State rank: #57 of 139 in TN

Livability — Morristown

• Score: 64/100
• State rank: #175
• US rank: #14625

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morristown, TN
• County: Hamblen County · 35,239 people
• City population: 35,239
• Metro: Morristown, TN
• Population (ZIP): 35,239
• Household income: $55,650
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 1001.0

Population outlook (Hamblen County) Hauer SSP2

• Today (2025): 65,185 people
• By 2030: 65,707 · +0.8%
• By 2040: 66,189 · +1.5%
• By 2050: 65,798 · +0.9%
• By 2075: 62,642 · -3.9%
• By 2100: 55,702 · -14.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 12% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 1%

Political lean MEDSL · Hamblen

• 2024 margin: Solid R (+58.9) · D 20.1% · R 79.0%
• 2008→2024 swing: -20.5pp toward R · 2008: -38.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+54.0 2016: R+57.2 2012: R+46.4 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.88%
• Current HPI: 299.6486
• Rent YoY: —
• Metro: Morristown, TN
• 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

+445.0% since first listed

6 events — show timeline

• 2026-04-28 Pending — LAAR
• 2026-04-27 Listed $109,000 LAAR
• 2025-07-16 Sold (Public Records) $85,000 Public Records
• 2019-12-21 Listed $89,900 LAAR
• 1991-01-15 Sold (Public Records) $21,579 Public Records
• 1988-10-17 Sold (Public Records) $20,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $650 · +21.8% YoY. Source: county tax records.