617 Highway 91 #6 · Hunter, TN 37643

$219,900

2 bd · 2.0 ba · 1,316 sqft · Condo public records · 17 Days on market

Built 2010 $140/mo HOA · 5% of rent

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Get ready for turn-key living! This adorable townhome is nestled in Elizabethton across from the gorgeous waters of the Watauga River with a backdrop of East Tennessee mountains. Upon entering, you'll notice the large open living area, complete with a cozy fireplace. There is a half bath conveniently located on this first floor as well as a kitchen full of updated appliances. Upstairs you will find two large bedrooms with spacious closets, a full bathroom and the laundry room. Off the back of the home, you'll enjoy a peaceful, private, screened-in porch area as well as a second patio. With the landscaping and all exterior maintenance provided for you, your only job will be to relax!

Key facts

• New bosch dishwasher
• New roof
• Gas range

Tags

• NEW ROOF
• NEW HVAC SYSTEM
• TANKLESS GAS WATER HEATER
• GAS RANGE
• NEW BOSCH DISHWASHER
• PRIVATE SCREENED IN PORCH

Property features AI

Finance

• Other: Subdivision: Carr Brothers
• HOA & community: Homeowners association with a $140 monthly fee

Exterior

• Utilities: Public water; Septic tank
• Home design: Townhouse; Condominium; Two levels; Updated/remodeled
• Construction: Aluminum siding, block, and brick construction
• Exterior features: Covered front and rear porches; Screened porch; Storm door(s); Back yard fencing; Shingle roof; Level topography; Has a view

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator
• Bedrooms: Total rooms: 5
• Flooring: Hardwood; Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Laminate counters; Pantry; Walk-in closet(s); Double pane windows; Gas-log fireplace in living room
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.1% in Hunter — 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 (#258 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment D-.
• Carter County (suburban): math 16% / reading 23% proficiency, ranked #119 of 139 in TN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hunter Elementary (math 15% / reading 21%, grade F, #697 of 952 statewide, top 74%, 433 students, 0% FRL); Unaka High School (math 12% / reading 32%, grade F, #163 of 332 statewide, top 51%, 315 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 184 units permitted in Carter County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Carter County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $190k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,601 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.27% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $13,163
• Equity at exit: $32,788

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $74,286
• Equity at exit: $19,013

Cash invested: $61,572 (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 37643

• Home prices YoY: -19.3%
• Active inventory: 173
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$61 /mo · $732/yr
• Insurance: −$92
• HOA: −$140
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $766

Break-even live

Break-even rent $1,830

Max offer price $219,900

Occupancy floor 68%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Bishop Hollow Rd Elizabethton, TN	3.0	2.0	1760	$2,800	$1.59	13d	1	1.25mi

HOA detail condo

• Monthly dues: $140 · $1,680/yr
• Likely covers: waterlandscapingexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-19
   days on market $219,900 Active 17 DOM
2. 2026-06-18
   days on market $219,900 Active 16 DOM
3. 2026-06-17
   days on market $219,900 Active 15 DOM
4. 2026-06-16
   days on market $219,900 Active 14 DOM
5. 2026-06-15
   days on market $219,900 Active 13 DOM
6. 2026-06-14
   days on market $219,900 Active 11 DOM
7. 2026-06-13
   days on market $219,900 Active 10 DOM
8. 2026-06-10
   pricedays on market $219,900 Active 8 DOM
9. 2026-06-09
   days on market $224,900 Active 7 DOM
10. 2026-06-08
    days on market $224,900 Active 6 DOM
11. 2026-06-07
    days on market $224,900 Active 5 DOM
12. 2026-06-03
    remarks 551-char remark
13. 2026-06-03
    listed $224,900 Active 1 DOM

ⓘ 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: $732 · $61/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: +$829/yr (+$69/mo · 113.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 8 d/yr ≥98°F today · 23 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: $33,600
• − Mortgage interest: −$12,318
• − Property taxes: −$732
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − HOA: −$1,680
• − Depreciation: −$6,397
• Taxable income: $5,998
• Est. tax owed @ 24.0%: −$1,439
• After-tax cash flow: $7,755/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: Carter County
• NCES district ID: 4700510
• Math proficiency: 16% ▼ -19.00%
• Reading proficiency: 23% ▼ -8.00%
• Median HH income: $33,744
• Composite: 15.92/100
• National rank: #9253
• State rank: #119 of 139 in TN

Livability — Hunter

• Score: 61/100
• State rank: #258
• US rank: #18321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hunter, TN
• Population (ZIP): 33,690

Population outlook (Carter County) Hauer SSP2

• Today (2025): 54,493 people
• By 2030: 52,639 · -3.4%
• By 2040: 47,929 · -12.0%
• By 2050: 42,877 · -21.3%
• By 2075: 31,487 · -42.2%
• By 2100: 21,979 · -59.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carter

• 2024 margin: Solid R (+63.2) · D 17.9% · R 81.2%
• 2008→2024 swing: -16.1pp toward R · 2008: -47.2pp · 2024: -63.2pp
• All cycles: 2024: R+63.2 2020: R+61.5 2016: R+64.0 2012: R+52.0 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.08%
• Current HPI: 321.4024
• 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

+462.2% since first listed

13 events — show timeline

• 2026-06-02 Listed $224,900 TVRMLS
• 2022-09-13 Sold (Public Records) $190,000 Public Records
• 2022-09-09 Sold (MLS) $190,000 TVRMLS
• 2022-07-23 Listed $186,000 TVRMLS
• 2020-08-26 Sold (Public Records) $126,500 Public Records
• 2020-08-26 Sold (MLS) $126,500 TVRMLS
• 2020-01-24 Listed $134,900 TVRMLS
• 2014-03-24 Sold (Public Records) $102,000 Public Records
• 2014-03-20 Sold (MLS) $102,000 TVRMLS
• 2013-10-02 Listed $109,900 TVRMLS
• 2006-03-31 Sold (Public Records) $87,000 Public Records
• 2004-04-13 Sold (Public Records) $85,000 Public Records
• 2003-05-19 Sold (Public Records) $40,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $732 · +0.0% YoY. Source: county tax records.