1201 Leeland Dr · Bloomingdale, TN 37660

$134,900

4 bd · 2.0 ba · 1,840 sqft · SingleFamily public records · 19 Days on market

Built 1943 0.45 ac lot $73/sqft · 53% 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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in Kingsport! This 4-bedroom, 2-bath single-family home features a brand-new metal roof installed within the last year. The property requires a full renovation and is being sold strictly as-is, with the seller making no repairs. Ideal for cash buyers seeking a value-add opportunity. After repair value is projected in the high $200Ks, making this a compelling project for investors looking to maximize returns. Bring your vision and transform this property into its full potential!

Key facts

• Metal roof
• Full renovation
• 0.45 acre lot

Tags

• METAL ROOF
• FULL RENOVATION
• VALUE-ADD OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 4.9% in Bloomingdale — 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 56/100 on livability (#343 in TN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime 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.
• Market conditions: Rents rising fast (+8.0%/yr); 242 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 453 units permitted in Sullivan County in 2024 (6 in 5+ unit buildings).
• At $1,936/mo this rent would consume 47% of the median local household income ($49k/yr) (locally 1384% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $61k; list at $135k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,876 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — 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 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?
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: 1.43% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.26%
• DSCR: 1.99
• GRM: 5.8

CMA / ARV

• ARV (median comp): $289,552
• List price: $134,900
• Delta: -53.41%
• 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
224 Stone Edge Cir	0.45mi	4/3.0	1,860 (+1%)	8mo	$310,000	$167	67
248 Stone Edge Cir	0.42mi	3/2.5 (-1)	1,798 (-2%)	4mo	$324,900	$181	66
101 Boulder Ct	0.47mi	3/2.0 (-1)	1,918 (+4%)	5mo	$380,000	$198	62
176 Woodmont Ave	0.73mi	3/3.0 (-1)	1,816 (-1%)	0mo	$295,000	$162	55
659 Gravely Rd	0.69mi	3/2.0 (-1)	1,902 (+3%)	6mo	$254,500	$134	52
1168 Ridgecrest Ave	0.64mi	5/2.0 (+1)	1,880 (+2%)	14mo	$238,000	$127	50
1029 Spring Valley Dr	0.73mi	3/2.0 (-1)	1,716 (-7%)	1mo	$270,000	$157	49
237 Stone Edge Cir	0.46mi	5/3.0 (+1)	1,978 (+8%)	11mo	$381,900	$193	48
1223 Wayne St	0.59mi	4/1.0	1,603 (-13%)	2mo	$249,900	$156	45
1154 Ridgecrest Ave	0.60mi	3/2.0 (-1)	1,620 (-12%)	12mo	$196,000	$121	37
201 Thomas St	0.50mi	3/3.0 (-1)	1,615 (-12%)	15mo	$270,000	$167	35
908 Spring Valley Dr	0.75mi	3/2.0 (-1)	2,059 (+12%)	11mo	$325,000	$158	32

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: 20.2%
• Equity multiple: 1.87×
• Total profit: $32,849
• Equity at exit: $20,114

10-year hold

• IRR: 31.4%
• Equity multiple: 4.49×
• Total profit: $131,941
• Equity at exit: $11,664

Cash invested: $37,772 (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: 242
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,936 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $701

Break-even live

Break-even rent $1,049

Max offer price $134,900

Occupancy floor 59%

Sensitivity live

Price	-10% $777	-5% $739	+0% $701	+5% $662	+10% $624
Rent	-10% $548	-5% $624	+0% $701	+5% $777	+10% $853
Rate	-1.0pp $769	-0.5pp $735	base $701	+0.5pp $666	+1.0pp $630

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Hammond Ave Kingsport, TN	3.0	1.0	1696	$1,525	$0.90	22d	1	1.38mi
109 W Wanola Ave Kingsport, TN	3.0	2.0	1600	$2,300	$1.44	14d	1	1.39mi
455 W Sullivan St Kingsport, TN	1.0–3.0	1.0–2.0	988	$1,954	$1.98	14d	16	1.45mi

Listing history 8 events

1. 2026-05-30
   days on market $134,900 Active 19 DOM
2. 2026-05-11
   listed $149,900 Active 499-char remark

   Show marketing remark (499 chars)

   Investor special in Kingsport! This 4-bedroom, 2-bath single-family home features a brand-new metal roof installed within the last year. The property requires a full renovation and is being sold strictly as-is, with the seller making no repairs. Ideal for cash buyers seeking a value-add opportunity. After repair value is projected in the high $200Ks, making this a compelling project for investors looking to maximize returns. Bring your vision and transform this property into its full potential!

3. 2015-06-26
   soldstatus $61,000 389-char remark

   Show marketing remark (389 chars)

   2 houses for the price of one. Live in main house and rent out the singlewide. What a concept! Great investment property. Very spacious and all on one level. Closet space is abundant. A great buy. Right across the drive you have a singlewide mobile home as well. That has 2 bedrooms and 1 1/2 bath. Needs carpet, (old carpet pulled up and floors professionally sanitized. Great investment.

4. 2015-06-24
   soldstatus $61,000
5. 2014-03-11
   listed $69,900 389-char remark

   Show marketing remark (389 chars)

   2 houses for the price of one. Live in main house and rent out the singlewide. What a concept! Great investment property. Very spacious and all on one level. Closet space is abundant. A great buy. Right across the drive you have a singlewide mobile home as well. That has 2 bedrooms and 1 1/2 bath. Needs carpet, (old carpet pulled up and floors professionally sanitized. Great investment.

6. 2000-06-29
   soldstatus $24,000
7. 1999-09-21
   soldstatus $24,000
8. 1993-09-16
   soldstatus $12,200

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $958 · $80/mo
• Expected delta: +$179/yr (+$15/mo · 23.0%)

ⓘ 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 4/10 Moderate 6 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,227
• − Mortgage interest: −$7,556
• − Property taxes: −$779
• − Insurance: −$674
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$3,924
• Taxable income: $6,577
• Est. tax owed @ 24.0%: −$1,578
• After-tax cash flow: $6,829/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 — Bloomingdale

• Score: 56/100
• State rank: #343
• US rank: #22770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomingdale, TN
• County: Sullivan County · 121,987 people
• 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

+1128.7% since first listed

7 events — show timeline

• 2026-05-11 Listed $149,900 TVRMLS
• 2015-06-26 Sold (MLS) $61,000 TVRMLS
• 2015-06-24 Sold (Public Records) $61,000 Public Records
• 2014-03-11 Listed $69,900 TVRMLS
• 2000-06-29 Sold (Public Records) $24,000 Public Records
• 1999-09-21 Sold (Public Records) $24,000 Public Records
• 1993-09-16 Sold (Public Records) $12,200 Public Records

Property tax history

+5.9%/yr

Latest (2025): $779 · +15.8% YoY. Source: county tax records.