708 Main Ave · Erwin, TN 37650

$154,900

2 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 103 Days on market

Built 1925 6,534 sqft lot $145/sqft · 13% below area Est $178k · 13% under

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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 +18.8/30.0
• ARV discount +13.4/15.0
• DSCR +5.9/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.9/10.0

Listing remarks MLS

Come see this charming one-level home just minutes from downtown Erwin! This home is perfect for a first-time buyer, investor, single buyer, or growing family. It offers 2 bedrooms, 1 full bath, a dining room with a built-in china cabinet, and a separate laundry room--providing comfortable living with plenty of potential to make it your own. Enjoy the fenced-in backyard -- ideal for kids, pets, or entertaining. A new heat pump was installed in February 2025, giving you added peace of mind. Don't miss your chance to view this home and see all it has to offer! Lawn Mower in Barn Does Not Convey! All information deemed reliable but not guaranteed. Buyer and/or buyer's agent to verify all information.

Key facts

• New heat pump
• Fenced-in backyard
• 6,534 sq ft lot

Tags

• FENCED-IN BACKYARD
• BUILT-IN CHINA CABINET
• SEPARATE LAUNDRY ROOM
• NEW HEAT PUMP

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/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 $138k (10.6% below list).
• Recommended offer: $138k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% in Erwin — 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 61/100 on livability (#241 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Unicoi County (town): math 25% / reading 26% proficiency, ranked #88 of 139 in TN (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 71 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 24 units permitted in Unicoi 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.
• Unicoi County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; list at $155k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 9→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,468 (10.6% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• GRM: 9.3

CMA / ARV

• ARV (median comp): $178,080
• List price: $154,900
• Delta: -13.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 Main Ave	0.11mi	2/2.0	1,040 (-2%)	8mo	$229,900	$221	80
216 3rd St	0.26mi	3/1.0 (+1)	1,024 (-4%)	9mo	$295,000	$288	68
219 New Ave	0.50mi	2/1.5	1,077 (+1%)	6mo	$200,000	$186	68
648 Maple Ave Ave	0.09mi	2/1.0	936 (-12%)	10mo	$155,000	$166	67
1117 Buffalo St	0.46mi	2/1.0	1,112 (+4%)	15mo	$235,000	$211	59
219 Clinchfield Ave	0.72mi	2/1.0	1,090 (+2%)	6mo	$175,000	$161	58
318 Boyd St	0.23mi	2/2.0	1,200 (+13%)	9mo	$255,000	$213	57
725 Maple Ave	0.05mi	3/2.0 (+1)	1,204 (+13%)	17mo	$289,000	$240	53
412 Railroad St	0.59mi	2/1.0	920 (-14%)	1mo	$169,900	$185	49
215 Clinchfield Ave	0.71mi	2/2.0	1,172 (+10%)	7mo	$210,000	$179	41
804 Jonesborough Rd	0.57mi	2/1.0	954 (-10%)	18mo	$206,900	$217	40
626 Mohawk Dr	0.71mi	2/1.0	912 (-14%)	10mo	$180,000	$197	34

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-15,186
• Equity at exit: $23,096

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-626
• Equity at exit: $13,393

Cash invested: $43,372 (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 37650

• Home prices YoY: -2.7%
• Active inventory: 71
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $157

Break-even live

Break-even rent $1,186

Max offer price $154,900

Occupancy floor 84%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 N Willow Ave Unit 10 Erwin, TN	2.0	1.0	900	$995	$1.11	13d	1	0.49mi
115 N Main Ave Unit A Erwin, TN	1.0	1.5	1150	$1,500	$1.30	13d	1	0.50mi
204 Gay St Unit E Erwin, TN	1.0	1.0	716	$1,350	$1.89	44d	1	0.55mi
113 S Main Ave Erwin, TN	1.0	1.0	1500	$1,800	$1.20	13d	1	0.58mi

Listing history 19 events

1. 2026-06-19
   days on market $154,900 Active 103 DOM
2. 2026-06-18
   days on market $154,900 Active 102 DOM
3. 2026-06-18
   pricestatus $154,900 Active 101 DOM
4. 2026-06-07
   statusdays on market $159,900 Pending 101 DOM
5. 2026-06-05
   days on market $159,900 Active 100 DOM
6. 2026-06-03
   days on market $159,900 Active 99 DOM
7. 2026-06-02
   days on market $159,900 Active 98 DOM
8. 2026-06-01
   days on market $159,900 Active 97 DOM
9. 2026-05-31
   days on market $159,900 Active 96 DOM
10. 2026-05-30
    days on market $159,900 Active 95 DOM
11. 2026-05-12
    price $159,900 708-char remark

    Show marketing remark (708 chars)

    Come see this charming one-level home just minutes from downtown Erwin! This home is perfect for a first-time buyer, investor, single buyer, or growing family. It offers 2 bedrooms, 1 full bath, a dining room with a built-in china cabinet, and a separate laundry room--providing comfortable living with plenty of potential to make it your own. Enjoy the fenced-in backyard -- ideal for kids, pets, or entertaining. A new heat pump was installed in February 2025, giving you added peace of mind. Don't miss your chance to view this home and see all it has to offer! Lawn Mower in Barn Does Not Convey! All information deemed reliable but not guaranteed. Buyer and/or buyer's agent to verify all information.

12. 2026-03-18
    price $164,900 708-char remark

    Show marketing remark (708 chars)

    Come see this charming one-level home just minutes from downtown Erwin! This home is perfect for a first-time buyer, investor, single buyer, or growing family. It offers 2 bedrooms, 1 full bath, a dining room with a built-in china cabinet, and a separate laundry room--providing comfortable living with plenty of potential to make it your own. Enjoy the fenced-in backyard -- ideal for kids, pets, or entertaining. A new heat pump was installed in February 2025, giving you added peace of mind. Don't miss your chance to view this home and see all it has to offer! Lawn Mower in Barn Does Not Convey! All information deemed reliable but not guaranteed. Buyer and/or buyer's agent to verify all information.

13. 2026-02-24
    listed $169,900 Active 708-char remark

    Show marketing remark (708 chars)

    Come see this charming one-level home just minutes from downtown Erwin! This home is perfect for a first-time buyer, investor, single buyer, or growing family. It offers 2 bedrooms, 1 full bath, a dining room with a built-in china cabinet, and a separate laundry room--providing comfortable living with plenty of potential to make it your own. Enjoy the fenced-in backyard -- ideal for kids, pets, or entertaining. A new heat pump was installed in February 2025, giving you added peace of mind. Don't miss your chance to view this home and see all it has to offer! Lawn Mower in Barn Does Not Convey! All information deemed reliable but not guaranteed. Buyer and/or buyer's agent to verify all information.

14. 2022-05-04
    soldstatus $92,000
15. 2022-04-29
    soldstatus $92,000 17-char remark

    Show marketing remark (17 chars)

    Sold before Print

16. 2022-04-28
    listed $92,000 17-char remark

    Show marketing remark (17 chars)

    Sold before Print

17. 2011-04-20
    soldstatus $101,000
18. 1999-10-01
    soldstatus $42,500
19. 1990-11-30
    soldstatus $27,000

ⓘ 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: $725 · $60/mo
• Projected year-2 tax: $1,100 · $92/mo
• Expected delta: +$375/yr (+$31/mo · 51.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 9 d/yr ≥97°F today · 26 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,616
• − Mortgage interest: −$8,677
• − Property taxes: −$725
• − Insurance: −$774
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$4,506
• Taxable loss: −$725
• Est. tax savings @ 24.0%: +$174
• After-tax cash flow: $2,053/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: Unicoi County
• NCES district ID: 4704230
• Math proficiency: 25% ▼ -8.00%
• Reading proficiency: 26% ▼ -4.00%
• Median HH income: $35,366
• Composite: 21.08/100
• National rank: #8443
• State rank: #88 of 139 in TN

Livability — Erwin

• Score: 61/100
• State rank: #241
• US rank: #17531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Erwin, TN
• Population (ZIP): 13,109

Population outlook (Unicoi County) Hauer SSP2

• Today (2025): 17,083 people
• By 2030: 16,570 · -3.0%
• By 2040: 15,389 · -9.9%
• By 2050: 14,270 · -16.5%
• By 2075: 12,302 · -28.0%
• By 2100: 10,812 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Romanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Unicoi

• 2024 margin: Solid R (+62.0) · D 18.5% · R 80.5% · Other 1.0%
• 2008→2024 swing: -21.8pp toward R · 2008: -40.2pp · 2024: -62.0pp
• All cycles: 2024: R+62.0 2020: R+60.0 2016: R+61.5 2012: R+44.1 2008: R+40.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.18%
• Current HPI: 290.1171
• 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

+492.2% since first listed

9 events — show timeline

• 2026-05-12 Price Changed $159,900 TVRMLS
• 2026-03-18 Price Changed $164,900 TVRMLS
• 2026-02-24 Listed $169,900 TVRMLS
• 2022-05-04 Sold (Public Records) $92,000 Public Records
• 2022-04-29 Sold (MLS) $92,000 TVRMLS
• 2022-04-28 Listed $92,000 TVRMLS
• 2011-04-20 Sold (Public Records) $101,000 Public Records
• 1999-10-01 Sold (Public Records) $42,500 Public Records
• 1990-11-30 Sold (Public Records) $27,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $725 · +0.0% YoY. Source: county tax records.