1433 Stratford Rd · Kingsport, TN 37664

$1,199,000

33 bd · 12.0 ba · 10,430 sqft · MultiFamily public records · 126 Days on market

Built 1971 0.44 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 +8.6/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 11 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

SVN | Accel Commercial Real Estate is pleased to present Magnolia Ridge Apartments, an 11-unit multifamily investment opportunity located at 1433 Stratford Road in Kingsport, Tennessee. This fully renovated and stabilized asset offers immediate in-place cash flow with continued upside through future rent growth in a market experiencing strong demand and limited multifamily inventory. Magnolia Ridge features a balanced unit mix of: (1) 3BR / 2BA (4) 1BR / 1BA (6) 2BR / 1BA All units are separately metered for electricity, with water and trash billed back to tenants, providing operational efficiency and expense recovery. Ownership has invested approximately $250,000+ in capital improvements,

Key facts

• Fully renovated
• Security cameras
• New flooring

Tags

• FULLY RENOVATED
• CAPITAL IMPROVEMENTS
• NEW FLOORING
• UPGRADED ELECTRICAL
• SECURITY CAMERAS
• FULL BATHROOM UPGRADES

Property features AI

Finance

• Other: Zoning: R 3
• Financial info: Gross income reported: $121,705; Net operating income: $73,444; Owner pays: Electricity, trash collection, water; Tenant pays: Cable TV
• HOA & community:

Exterior

• Parking: No covered parking listed; No total parking spaces listed
• Security:
• Utilities: Public water; Public sewer; Water service available
• Home design: Residential income property; Attached property; One level
• Construction: Brick construction
• Exterior features: Public water available; Public sewer

Interior

• Kitchen:
• Bedrooms: Three-bedroom units (3 beds, 2 baths); Two-bedroom units (2 beds, 1 bath)
• Flooring: Other
• Bathrooms: Two-bath units; One-bath units
• Heating & cooling: Central heating; Central air
• Interior features: Central heating; Central air conditioning; Other flooring
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 11 × 3.0-bed/2.0-bath units multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $5k ($62k/yr) — positive. Per door: $470/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $1.20M).
• Recommended offer: $1.06M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: Andrew Johnson Elementary School (math 50% / reading 48%, grade D, #133 of 952 statewide, top 14%, 543 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 (+3.7%/yr); 267 active listings in the ZIP; 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 $8k of loan paydown is wiped out by about $36k 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 + 3.7% rent growth), your $336k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($1.06M) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 3y 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 $950k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,055,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.73% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.44×
• Total profit: $147,175
• Equity at exit: $178,775

10-year hold

• IRR: 20.6%
• Equity multiple: 2.79×
• Total profit: $602,230
• Equity at exit: $103,668

Cash invested: $335,720 (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 37664

• Home prices YoY: -24.5%
• Rents YoY: 3.7%
• Active inventory: 267
• Price-to-rent: 67.4×

Monthly cashflow live

• Estimated rent: $16,299 high
• Mortgage (P&I): −$6,288
• Tax from tax record: −$860 /mo · $10,316/yr
• Insurance: −$500
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,423
• Net cashflow: $5,174

Break-even live

Break-even rent $9,750

Max offer price $1,199,000

Occupancy floor 63%

11-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 11× units	3.0	2	$16,302
Total (11 units)			$16,299

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: $299,750
• Closing costs: $35,970
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $1,199,000 Active 126 DOM
2. 2026-06-18
   days on market $1,199,000 Active 125 DOM
3. 2026-06-17
   days on market $1,199,000 Active 124 DOM
4. 2026-06-16
   days on market $1,199,000 Active 123 DOM
5. 2026-06-15
   days on market $1,199,000 Active 122 DOM
6. 2026-06-14
   days on market $1,199,000 Active 120 DOM
7. 2026-06-13
   days on market $1,199,000 Active 119 DOM
8. 2026-06-10
   days on market $1,199,000 Active 117 DOM
9. 2026-06-09
   days on market $1,199,000 Active 116 DOM
10. 2026-06-08
    days on market $1,199,000 Active 115 DOM
11. 2026-06-07
    days on market $1,199,000 Active 114 DOM
12. 2026-06-05
    days on market $1,199,000 Active 111 DOM
13. 2026-06-03
    days on market $1,199,000 Active 110 DOM
14. 2026-06-02
    days on market $1,199,000 Active 109 DOM
15. 2026-06-01
    days on market $1,199,000 Active 108 DOM
16. 2026-05-31
    days on market $1,199,000 Active 107 DOM
17. 2026-05-30
    days on market $1,199,000 Active 106 DOM
18. 2026-05-06
    price $1,199,000
19. 2026-02-13
    listed $1,250,000 Active
20. 2024-09-03
    historical
21. 2024-06-25
    price $1,175,000
22. 2024-04-25
    historical $750
23. 2024-04-24
    listed $750
24. 2024-03-19
    historical $900
25. 2024-03-15
    listed $900
26. 2024-03-15
    historical $900
27. 2024-03-14
    historical $900
28. 2024-03-14
    listed $900
29. 2024-02-12
    listed $1,225,000 Active
30. 2024-02-02
    listed $900
31. 2024-01-02
    historical $1,250
32. 2024-01-02
    historical $1,250
33. 2024-01-02
    listed $1,250
34. 2024-01-02
    listed $1,250
35. 2023-12-29
    historical $1,250
36. 2023-12-29
    historical $1,250
37. 2023-12-23
    listed $1,250
38. 2023-12-23
    listed $1,250
39. 2023-11-30
    historical $975
40. 2023-11-30
    historical $975
41. 2023-11-30
    listed $975
42. 2023-11-30
    listed $975
43. 2023-10-21
    historical $975
44. 2023-09-28
    listed $975
45. 2023-09-28
    historical $1,050
46. 2023-09-14
    price $1,050
47. 2023-09-13
    price $1,250
48. 2023-09-07
    listed $1,300
49. 2022-03-21
    soldstatus $950,000
50. 2021-02-26
    soldstatus $875,000

ⓘ 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: $10,316 · $860/mo
• Projected year-2 tax: $10,316 · $860/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $195,588
• − Mortgage interest: −$67,163
• − Property taxes: −$10,316
• − Insurance: −$6,662
• − Repairs & maintenance: −$15,647
• − Management: −$15,647
• − Depreciation: −$34,880
• Taxable income: $45,274
• Est. tax owed @ 24.0%: −$10,866
• After-tax cash flow: $51,219/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): 28,267
• Household income: $63,653
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 739.0

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Serbian 4% Slovak 3% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 1% Chinese 1%

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: ▼ -85.12%
• Current HPI: 261.7474
• Rent YoY: ▲ 3.73%
• 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

+65.4% since first listed

36 events — show timeline

• 2026-05-06 Price Changed $1,199,000 REALTRACS as Distributed by MLS Grid
• 2026-02-13 Listed $1,250,000 REALTRACS as Distributed by MLS Grid
• 2024-09-03 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2024-06-25 Price Changed $1,175,000 REALTRACS as Distributed by MLS Grid
• 2024-04-25 Rental Removed $750 APPFOLIO
• 2024-04-24 Listed for Rent $750 APPFOLIO
• 2024-03-19 Rental Removed $900 APPFOLIO
• 2024-03-15 Listed for Rent $900 APPFOLIO
• 2024-03-15 Rental Removed $900 APPFOLIO
• 2024-03-14 Rental Removed $900 APPFOLIO
• 2024-03-14 Listed for Rent $900 APPFOLIO
• 2024-02-12 Listed $1,225,000 REALTRACS as Distributed by MLS Grid
• 2024-02-02 Listed for Rent $900 APPFOLIO
• 2024-01-02 Rental Removed $1,250 APPFOLIO
• 2024-01-02 Rental Removed $1,250 APPFOLIO
• 2024-01-02 Listed for Rent $1,250 APPFOLIO
• 2024-01-02 Listed for Rent $1,250 APPFOLIO
• 2023-12-29 Rental Removed $1,250 APPFOLIO
• 2023-12-29 Rental Removed $1,250 APPFOLIO
• 2023-12-23 Listed for Rent $1,250 APPFOLIO
• 2023-12-23 Listed for Rent $1,250 APPFOLIO
• 2023-11-30 Rental Removed $975 APPFOLIO
• 2023-11-30 Rental Removed $975 APPFOLIO
• 2023-11-30 Listed for Rent $975 APPFOLIO
• 2023-11-30 Listed for Rent $975 APPFOLIO
• 2023-10-21 Rental Removed $975 APPFOLIO
• 2023-09-28 Listed for Rent $975 APPFOLIO
• 2023-09-28 Rental Removed $1,050 APPFOLIO
• 2023-09-14 Price Changed $1,050 APPFOLIO
• 2023-09-13 Price Changed $1,250 APPFOLIO
• 2023-09-07 Listed for Rent $1,300 APPFOLIO
• 2022-03-21 Sold (Public Records) $950,000 Public Records
• 2021-02-26 Sold (Public Records) $875,000 Public Records
• 2002-11-22 Sold (Public Records) $535,000 Public Records
• 2002-11-22 Sold (Public Records) $535,000 Public Records
• 1998-09-21 Sold (Public Records) $725,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $10,316 · +70.0% YoY. Source: county tax records.