1129 Cherry St · Kingsport, TN 37660

$205,000

5 bd · 1.0 ba · 1,942 sqft · SingleFamily public records · 24 Days on market

Built 1903 7,840 sqft lot Est $216k · at est.

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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 +20.0/30.0
• ARV discount +9.7/15.0
• DSCR +6.4/10.0
• Rent growth +4.5/5.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

^^^^ OPEN HOUSE Sunday 3/29/2026 from 2-4PM * * * * * * Charming and Historic Kingsport Home. Step into a piece of history with this stunning Kingsport home, originally built in 1903. Offering 2,400 sq ft of elegantly updated living space, this beautiful property seamlessly blends historic charm with modern convenience. Begin your day with a morning cup of coffee on the inviting covered front porch, perfect for enjoying the serene surroundings. This fully remodeled home features five spacious bedrooms and two full baths, providing ample space for family and guests. The home has undergone a complete renovation, ensuring every detail is thoughtfully designed and executed. Highlights in

Key facts

• Covered front porch
• New kitchen
• Renovated bathrooms

Tags

• COVERED FRONT PORCH
• NEW KITCHEN
• UPDATED FLOORING
• RENOVATED BATHROOMS

Property features AI

Exterior

• Parking: Driveway
• Security: Smoke detectors
• Utilities: Public water; Public sewer (sewer connected); Electricity available; Natural gas available; Cable available
• Home design: Single family residence; Two levels; Updated/remodeled; House structure
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as a house (year built not provided)
• Exterior features: Covered patio/porch; Deck; Front porch; Level topography

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Total of 9 rooms (bedrooms included within room count)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Heat pump cooling
• Interior features: Entrance foyer; Walk-in closets; Double pane windows; Fireplace in the living room; Basement with exterior entry and sump pump
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/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 $193k (5.9% below list).
• Recommended offer: $193k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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: Abraham Lincoln Elementary School (math 27% / reading 27%, grade F, #496 of 952 statewide, top 55%, 399 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; 1 comparable units currently listed for rent nearby; 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $80k; list at $205k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $192,972 (5.9% below list)

Questions for the listing agent

1. Built in 1903 — 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: 0.94% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $215,562
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1113 Center St	0.12mi	4/2.0 (-1)	2,128 (+10%)	1mo	$100,000	$47	68
1432 Valley St	0.22mi	5/3.0	2,160 (+11%)	6mo	$262,000	$121	58
1302 Chestnut St	0.37mi	5/3.5	2,128 (+10%)	5mo	$307,000	$144	53
1261 Chestnut St	0.37mi	4/2.0 (-1)	1,680 (-14%)	4mo	$187,000	$111	48
1109 Center St	0.12mi	4/2.0 (-1)	2,204 (+14%)	18mo	$70,800	$32	47
706 Yadkin St	0.34mi	4/1.5 (-1)	2,156 (+11%)	14mo	$180,000	$83	47
404 Louis St	0.73mi	4/2.0 (-1)	2,180 (+12%)	15mo	$308,000	$141	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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-7,086
• Equity at exit: $30,566

10-year hold

• IRR: 11.1%
• Equity multiple: 2.05×
• Total profit: $60,199
• Equity at exit: $17,725

Cash invested: $57,400 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,930 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$111 /mo · $1,335/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $253

Break-even live

Break-even rent $1,610

Max offer price $205,000

Occupancy floor 82%

Sensitivity live

Price	-10% $369	-5% $311	+0% $253	+5% $195	+10% $137
Rent	-10% $100	-5% $177	+0% $253	+5% $329	+10% $405
Rate	-1.0pp $356	-0.5pp $305	base $253	+0.5pp $200	+1.0pp $146

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1437 Valley St Kingsport, TN	4.0	3.0	2552	$2,300	$0.90	21d	1	0.19mi

Listing history 21 events

1. 2026-04-11
   status Pending
2. 2026-03-18
   listed $205,000 Active
3. 2025-02-08
   price $199,900
4. 2024-11-05
   price $215,000
5. 2024-09-06
   price $229,900
6. 2024-08-09
   price $239,900
7. 2024-07-12
   price $249,900
8. 2024-07-03
   price $269,900
9. 2024-06-18
   status Active
10. 2024-05-18
    price $249,900
11. 2024-05-09
    price $254,900
12. 2024-04-08
    price $264,900
13. 2024-03-24
    price $269,900
14. 2024-02-29
    price $274,900
15. 2024-01-22
    listed $279,900 Active
16. 2017-08-14
    soldstatus $80,500
17. 2017-04-21
    listed $85,000
18. 2008-05-28
    soldstatus $75,000
19. 2000-08-10
    soldstatus $23,000
20. 2000-02-22
    soldstatus $40,000
21. 1997-03-07
    soldstatus $40,000

ⓘ 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: $1,335 · $111/mo
• Projected year-2 tax: $1,456 · $121/mo
• Expected delta: +$121/yr (+$10/mo · 9.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°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: $23,157
• − Mortgage interest: −$11,483
• − Property taxes: −$1,335
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$5,964
• Taxable loss: −$355
• Est. tax savings @ 24.0%: +$85
• After-tax cash flow: $3,119/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

+412.5% since first listed

21 events — show timeline

• 2026-04-11 Pending — TVRMLS
• 2026-03-18 Listed $205,000 TVRMLS
• 2025-02-08 Price Changed $199,900 TVRMLS
• 2024-11-05 Price Changed $215,000 TVRMLS
• 2024-09-06 Price Changed $229,900 TVRMLS
• 2024-08-09 Price Changed $239,900 TVRMLS
• 2024-07-12 Price Changed $249,900 TVRMLS
• 2024-07-03 Price Changed $269,900 TVRMLS
• 2024-06-18 Relisted — TVRMLS
• 2024-05-18 Price Changed $249,900 TVRMLS
• 2024-05-09 Price Changed $254,900 TVRMLS
• 2024-04-08 Price Changed $264,900 TVRMLS
• 2024-03-24 Price Changed $269,900 TVRMLS
• 2024-02-29 Price Changed $274,900 TVRMLS
• 2024-01-22 Listed $279,900 TVRMLS
• 2017-08-14 Sold (MLS) $80,500 TVRMLS
• 2017-04-21 Listed $85,000 TVRMLS
• 2008-05-28 Sold (Public Records) $75,000 Public Records
• 2000-08-10 Sold (Public Records) $23,000 Public Records
• 2000-02-22 Sold (Public Records) $40,000 Public Records
• 1997-03-07 Sold (Public Records) $40,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,335 · +32.1% YoY. Source: county tax records.