184 Flanary St · Kingsport, TN 37660

$59,900

2 bd · 1.0 ba · 776 sqft · SingleFamily public records · 42 Days on market

Built 1930 0.36 ac lot $77/sqft · 55% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

It's rough, it needs work, and there?s no pretending otherwise. But sitting in a strong pocket of Kingsport, it offers something far more valuable than a quick cosmetic flip: real potential. The fenced yard gives you an immediate advantage, adding function and future appeal for tenants or resale. Everything on site conveys as-is, so you can clear it out and execute your plan without working around someone else?s half-finished ideas. No updates, no band-aids?just a clean slate ready for the right vision. Inside, the home is ready to be completely reimagined. Whether you?re building a rental, flipping for profit, or holding long term, the structure gives you a starting point without limiting

Key facts

• 0.36 acre lot
• Built 1930
• Listed 41 days

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public water; Septic tank
• Home design: Single-family house; One level; Property listed as fix(er)
• Construction: Block and other construction materials; Composition roof
• Exterior features: Covered porch/patio

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiant heating; Window unit cooling
• Interior features: Dishwasher; Gas range; Microwave; Refrigerator; Radiant heating; Window air conditioning

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 3.8% in Kingsport — 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 71/100 on livability (#39 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, crime F, commute F.
• Sullivan County (suburban): math 17% / reading 24% proficiency, ranked #109 of 139 in TN (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ketron Elementary School (math 16% / reading 19%, grade F, #704 of 952 statewide, top 74%, 563 students, 0% FRL); Sullivan Heights Middle School (692 students, 0% FRL); West Ridge High School (1,683 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.0%/yr); 239 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sullivan County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.73% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.42%
• DSCR: 2.44
• GRM: 4.8

CMA / ARV

• ARV (median comp): $133,532
• List price: $59,900
• Delta: -55.14%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1912 Darnell Dr	0.71mi	2/1.5	740 (-5%)	18mo	$128,000	$173	42
304 Mohawk St	0.67mi	3/1.0 (+1)	853 (+10%)	13mo	$162,000	$190	36
445 Long Ridge Rd. Rd	0.73mi	2/1.0	884 (+14%)	22mo	$105,472	$119	24

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 · 7.95% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.46×
• Total profit: $24,556
• Equity at exit: $8,931

10-year hold

• IRR: 42.2%
• Equity multiple: 5.96×
• Total profit: $83,128
• Equity at exit: $5,179

Cash invested: $16,772 (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 37660

• Home prices YoY: -24.2%
• Rents YoY: 8.0%
• Active inventory: 239
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,037 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$27 /mo · $321/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $453

Break-even live

Break-even rent $463

Max offer price $59,900

Occupancy floor 51%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 E Carters Valley Rd Unit 1 Kingsport, TN	2.0	1.0	870	$925	$1.06	21d	1	0.30mi
1621 Arbor Pl Unit 4 Kingsport, TN	2.0	1.0	900	$1,000	$1.11	43d	1	1.20mi
1528 Lynn Garden Dr Unit 5 Kingsport, TN	1.0	1.0	650	$750	$1.15	43d	1	1.24mi
133 Walker St Kingsport, TN	2.0	1.5	840	$975	$1.16	21d	1	1.35mi

Listing history 17 events

1. 2026-06-19
   days on market $59,900 Active 42 DOM
2. 2026-06-18
   days on market $59,900 Active 41 DOM
3. 2026-06-17
   days on market $59,900 Active 40 DOM
4. 2026-06-16
   days on market $59,900 Active 39 DOM
5. 2026-06-15
   days on market $59,900 Active 38 DOM
6. 2026-06-14
   days on market $59,900 Active 36 DOM
7. 2026-06-13
   days on market $59,900 Active 35 DOM
8. 2026-06-10
   days on market $59,900 Active 33 DOM
9. 2026-06-09
   days on market $59,900 Active 32 DOM
10. 2026-06-08
    days on market $59,900 Active 31 DOM
11. 2026-06-07
    days on market $59,900 Active 30 DOM
12. 2026-06-02
    days on market $59,900 Active 25 DOM
13. 2026-06-01
    days on market $59,900 Active 24 DOM
14. 2026-05-31
    days on market $59,900 Active 23 DOM
15. 2026-05-30
    days on market $59,900 Active 22 DOM
16. 2026-05-15
    price $59,990 1083-char remark
17. 2026-05-08
    listed $59,999 Active 1083-char remark

ⓘ 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: $321 · $27/mo
• Projected year-2 tax: $425 · $35/mo
• Expected delta: +$104/yr (+$9/mo · 32.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,439
• − Mortgage interest: −$3,355
• − Property taxes: −$321
• − Insurance: −$300
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$1,743
• Taxable income: $4,730
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $4,301/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: Sullivan County
• NCES district ID: 4703990
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 24% ▼ -10.00%
• Median HH income: $43,263
• Composite: 17.66/100
• National rank: #9030
• State rank: #109 of 139 in TN

Livability — Kingsport

• Score: 71/100
• State rank: #39
• US rank: #6587

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sullivan County · 121,987 people
• City population: 83,493
• Metro: Kingsport-Bristol, TN-VA
• Population (ZIP): 40,996
• Household income: $49,191
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 1384.0

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 157,030 people
• By 2030: 156,415 · -0.4%
• By 2040: 153,778 · -2.1%
• By 2050: 149,018 · -5.1%
• By 2075: 138,068 · -12.1%
• By 2100: 119,927 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 3% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+55.0) · D 22.0% · R 77.0% · Other 1.0%
• 2008→2024 swing: -13.6pp toward R · 2008: -41.3pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+51.9 2016: R+56.2 2012: R+47.2 2008: R+41.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.93%
• Current HPI: 252.9821
• Rent YoY: ▲ 7.95%
• Metro: Kingsport-Bristol, TN-VA
• 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

-0.2% since first listed

4 events — show timeline

• 2026-05-29 Price Changed $59,900 TVRMLS
• 2026-05-22 Price Changed $59,909 TVRMLS
• 2026-05-15 Price Changed $59,990 TVRMLS
• 2026-05-08 Listed $59,999 TVRMLS

Property tax history

+8.3%/yr

Latest (2025): $321 · +40.2% YoY. Source: county tax records.