509 Rogan St · Kingsport, TN 37660

$199,000

3 bd · 1.0 ba · 768 sqft · SingleFamily public records · 61 Days on market

Built 1950 9,147 sqft lot Est $149k · 34% over

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Why this score? — see what drove the F 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 +10.9/30.0
• Rent growth +4.5/5.0
• Livability +3.6/5.0
• DSCR +3.2/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready with modern amenities! This professionally renovated cottage, built in 1950, features a new roof and a new HVAC system, ensuring comfort and durability for years to come. The home has been completely updated with gorgeous new flooring, modern lighting, and fresh paint throughout, making it ready for your personal touch. The eat-in kitchen features new cabinets with beautiful butcher block countertops, attractive new lighting and fixtures, and sparkling new stainless-steel appliances. On the main floor, in addition to the charming kitchen, you'll find the living room, the primary bedroom, a guest bedroom, and a full bath that is fully renovated, from the flooring to the fixtures to the tub, vanity, and lighting. Downstairs is the finished walkout basement, which includes a comfortable family room with a unique stone fireplace, an extra bedroom, and a utility room. The home is located just minutes from many of the city's unique sites like Eastman, the South Fork of the Holston River, the Meadowview area, the historic Netherland Inn, walking and biking on the Greenbelt, and all the shopping, dining, and entertainment amenities of downtown Kingsport. Don't wait - set up your private showing today!

Key facts

• Updated bath
• New hvac
• Stainless appliances

Tags

• NEW ROOF
• NEW HVAC
• UPDATED BATH
• EAT-IN KITCHEN
• BUTCHER-BLOCK COUNTERS
• STAINLESS APPLIANCES

Property features AI

Finance

• Other: Property listed as residential single family; Below-grade finished area present
• HOA & community: Association provides landscaping

Exterior

• Parking: Parking surfaces include asphalt and concrete
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; Updated/remodeled condition; Two levels
• Construction: Block foundation; Block and Masonite construction; Shingle roof
• Exterior features: Front porch; Rolling slope lot; Lot approximately 0.21 acres (60 x 150); Zoned R 1B

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Total of 9 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Fireplace heating option; Central air conditioning; One fireplace
• Interior features: Double pane windows; Finished walk-out basement; Basement recreation room with fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (26.7% below list).
• Recommended offer: $146k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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.
• Kingsport (urban): math 35% / reading 38% proficiency, ranked #26 of 139 in TN (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George Washington Elementary School (math 43% / reading 45%, grade F, #183 of 952 statewide, top 19%, 503 students, 0% FRL); John Sevier Middle School (math 21% / reading 24%, grade F, #172 of 333 statewide, top 52%, 750 students, 0% FRL); Dobyns - Bennett High School (math 23% / reading 56%, grade F, #28 of 332 statewide, top 9%, 2,514 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 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 at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).
• This rent runs 36% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,802 (26.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.73% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.86%
• DSCR: 0.92
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $148,992
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2020 Holly St	0.19mi	2/1.0 (-1)	792 (+3%)	11mo	$100,000	$126	72
1929 Greenway St	0.15mi	2/1.0 (-1)	840 (+9%)	8mo	$163,000	$194	66
1024 Fairview Ave	0.68mi	2/1.0 (-1)	768 (0%)	17mo	$143,000	$186	49
1744 Mcgee St	0.62mi	2/1.0 (-1)	816 (+6%)	11mo	$120,000	$147	46
625 Plantation Rd	0.62mi	3/1.0	824 (+7%)	20mo	$195,000	$237	43
1613 Lake St	0.66mi	2/2.0 (-1)	856 (+12%)	22mo	$182,000	$213	22

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: -14.6%
• Equity multiple: 0.46×
• Total profit: $-30,185
• Equity at exit: $29,672

10-year hold

• IRR: 0.2%
• Equity multiple: 1.02×
• Total profit: $1,045
• Equity at exit: $17,206

Cash invested: $55,720 (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: 11.4×

Monthly cashflow live

• Estimated rent: $1,458 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$112 /mo · $1,340/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $-86

Break-even live

Break-even rent $1,567

Max offer price $183,743

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Riverside Ave Kingsport, TN	2.0	1.0	624	$1,200	$1.92	13d	1	0.80mi
1208 Riverside Ave Kingsport, TN	2.0	1.0	690	$1,500	$2.17	21d	1	0.81mi
812 Burwind Ct Unit 812-3 Kingsport, TN	2.0	1.0	800	$950	$1.19	21d	1	1.33mi
455 W Sullivan St Kingsport, TN	1.0–3.0	1.0–2.0	988	$1,954	$1.98	13d	16	1.46mi

Listing history 24 events

1. 2026-06-19
   days on market $199,000 Active 61 DOM
2. 2026-06-18
   days on market $199,000 Active 60 DOM
3. 2026-06-17
   days on market $199,000 Active 59 DOM
4. 2026-06-16
   days on market $199,000 Active 58 DOM
5. 2026-06-15
   days on market $199,000 Active 57 DOM
6. 2026-06-14
   days on market $199,000 Active 55 DOM
7. 2026-06-13
   days on market $199,000 Active 54 DOM
8. 2026-06-10
   days on market $199,000 Active 52 DOM
9. 2026-06-09
   days on market $199,000 Active 51 DOM
10. 2026-06-08
    days on market $199,000 Active 50 DOM
11. 2026-06-07
    days on market $199,000 Active 49 DOM
12. 2026-06-05
    days on market $199,000 Active 46 DOM
13. 2026-06-03
    days on market $199,000 Active 45 DOM
14. 2026-06-02
    days on market $199,000 Active 44 DOM
15. 2026-06-01
    days on market $199,000 Active 43 DOM
16. 2026-05-31
    days on market $199,000 Active 42 DOM
17. 2026-05-30
    days on market $199,000 Active 41 DOM
18. 2026-05-19
    price $209,900
19. 2026-04-30
    price $219,900
20. 2026-04-20
    listed $229,000 Active
21. 2024-10-25
    soldstatus $180,000 Closed 1226-char remark

    Show marketing remark (1226 chars)

    Move-in ready with modern amenities! This professionally renovated cottage, built in 1950, features a new roof and a new HVAC system, ensuring comfort and durability for years to come. The home has been completely updated with gorgeous new flooring, modern lighting, and fresh paint throughout, making it ready for your personal touch. The eat-in kitchen features new cabinets with beautiful butcher block countertops, attractive new lighting and fixtures, and sparkling new stainless-steel appliances. On the main floor, in addition to the charming kitchen, you'll find the living room, the primary bedroom, a guest bedroom, and a full bath that is fully renovated, from the flooring to the fixtures to the tub, vanity, and lighting. Downstairs is the finished walkout basement, which includes a comfortable family room with a unique stone fireplace, an extra bedroom, and a utility room. The home is located just minutes from many of the city's unique sites like Eastman, the South Fork of the Holston River, the Meadowview area, the historic Netherland Inn, walking and biking on the Greenbelt, and all the shopping, dining, and entertainment amenities of downtown Kingsport. Don't wait - set up your private showing today!

22. 2024-10-25
    soldstatus $180,000

    Show marketing remark (1226 chars)

    Move-in ready with modern amenities! This professionally renovated cottage, built in 1950, features a new roof and a new HVAC system, ensuring comfort and durability for years to come. The home has been completely updated with gorgeous new flooring, modern lighting, and fresh paint throughout, making it ready for your personal touch. The eat-in kitchen features new cabinets with beautiful butcher block countertops, attractive new lighting and fixtures, and sparkling new stainless-steel appliances. On the main floor, in addition to the charming kitchen, you'll find the living room, the primary bedroom, a guest bedroom, and a full bath that is fully renovated, from the flooring to the fixtures to the tub, vanity, and lighting. Downstairs is the finished walkout basement, which includes a comfortable family room with a unique stone fireplace, an extra bedroom, and a utility room. The home is located just minutes from many of the city's unique sites like Eastman, the South Fork of the Holston River, the Meadowview area, the historic Netherland Inn, walking and biking on the Greenbelt, and all the shopping, dining, and entertainment amenities of downtown Kingsport. Don't wait - set up your private showing today!

23. 2024-09-24
    historical Active Under Contract 1226-char remark

    Show marketing remark (1226 chars)

    Move-in ready with modern amenities! This professionally renovated cottage, built in 1950, features a new roof and a new HVAC system, ensuring comfort and durability for years to come. The home has been completely updated with gorgeous new flooring, modern lighting, and fresh paint throughout, making it ready for your personal touch. The eat-in kitchen features new cabinets with beautiful butcher block countertops, attractive new lighting and fixtures, and sparkling new stainless-steel appliances. On the main floor, in addition to the charming kitchen, you'll find the living room, the primary bedroom, a guest bedroom, and a full bath that is fully renovated, from the flooring to the fixtures to the tub, vanity, and lighting. Downstairs is the finished walkout basement, which includes a comfortable family room with a unique stone fireplace, an extra bedroom, and a utility room. The home is located just minutes from many of the city's unique sites like Eastman, the South Fork of the Holston River, the Meadowview area, the historic Netherland Inn, walking and biking on the Greenbelt, and all the shopping, dining, and entertainment amenities of downtown Kingsport. Don't wait - set up your private showing today!

24. 2024-09-19
    listed $179,900 Active 1226-char remark

    Show marketing remark (1226 chars)

    Move-in ready with modern amenities! This professionally renovated cottage, built in 1950, features a new roof and a new HVAC system, ensuring comfort and durability for years to come. The home has been completely updated with gorgeous new flooring, modern lighting, and fresh paint throughout, making it ready for your personal touch. The eat-in kitchen features new cabinets with beautiful butcher block countertops, attractive new lighting and fixtures, and sparkling new stainless-steel appliances. On the main floor, in addition to the charming kitchen, you'll find the living room, the primary bedroom, a guest bedroom, and a full bath that is fully renovated, from the flooring to the fixtures to the tub, vanity, and lighting. Downstairs is the finished walkout basement, which includes a comfortable family room with a unique stone fireplace, an extra bedroom, and a utility room. The home is located just minutes from many of the city's unique sites like Eastman, the South Fork of the Holston River, the Meadowview area, the historic Netherland Inn, walking and biking on the Greenbelt, and all the shopping, dining, and entertainment amenities of downtown Kingsport. Don't wait - set up your private showing today!

ⓘ 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: $1,340 · $112/mo
• Projected year-2 tax: $1,413 · $118/mo
• Expected delta: +$72/yr (+$6/mo · 5.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 22 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: $17,496
• − Mortgage interest: −$11,147
• − Property taxes: −$1,340
• − Insurance: −$995
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$5,789
• Taxable loss: −$4,575
• Est. tax savings @ 24.0%: +$1,098
• After-tax cash flow: $62/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: Kingsport
• NCES district ID: 4702190
• Math proficiency: 35% ▼ -12.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $38,017
• Composite: 30.44/100
• National rank: #6233
• State rank: #26 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

• Census place: Kingsport, TN
• 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

+16.7% since first listed

7 events — show timeline

• 2026-05-19 Price Changed $209,900 TVRMLS
• 2026-04-30 Price Changed $219,900 TVRMLS
• 2026-04-20 Listed $229,000 TVRMLS
• 2024-10-25 Sold (Public Records) $180,000 Public Records
• 2024-10-25 Sold (MLS) $180,000 TVRMLS
• 2024-09-24 Contingent — TVRMLS
• 2024-09-19 Listed $179,900 TVRMLS

Property tax history

+9.9%/yr

Latest (2025): $1,340 · +123.7% YoY. Source: county tax records.