206 Cambridgeshire Ct · Johnson City, TN 37615

$199,999

2 bd · 2.0 ba · 1,059 sqft · Townhouse public records · 67 Days on market

Built 1994 $189/sqft · 15% below area Est $236k · 15% under $125/mo HOA · 8% of rent

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Why this score? — see what drove the D 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).

• ARV discount +14.4/15.0
• Cash flow +9.6/30.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• DSCR +2.7/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 206 Cambridgeshire Court in Boones Creek! This 2-bedroom townhouse offers a spacious living area that flows into the kitchen and living room. The attached garage adds extra convenience for parking or storage. Located close to shopping, dining, and everything Boones Creek has to offer, this home is a great option for low-maintenance living. Buyer/Buyers agent to verify all info.

Key facts

• Attached garage
• Spacious living area
• Close to dining

Tags

• ATTACHED GARAGE
• SPACIOUS LIVING AREA
• CLOSE TO SHOPPING
• CLOSE TO DINING
• LOW MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (25.2% below list).
• Recommended offer: $150k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.1% in Johnson City — 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 76/100 on livability (#8 in TN, #3,349 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A; Watch: crime D, commute F, employment F.
• Johnson City (urban): math 46% / reading 47% proficiency, ranked #9 of 139 in TN (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lake Ridge Elementary (math 65% / reading 52%, grade B-, #67 of 952 statewide, top 7%, 627 students, 0% FRL); Liberty Bell Middle School (math 43% / reading 38%, grade F, #42 of 333 statewide, top 13%, 898 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.6%/yr); 221 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,155 units permitted in Washington County in 2024 (437 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.
• Washington County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,537 (25.2% 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 67 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 11.1

CMA / ARV

• ARV (median comp): $236,281
• List price: $199,999
• Delta: -15.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 Cambridgeshire Ct #802	0.04mi	2/2.0	1,059 (0%)	4mo	$197,500	$186	95
508 Cambridgeshire Court Ct #508	0.05mi	2/2.0	1,059 (0%)	10mo	$220,000	$208	90
304 Cambridgeshire Ct #304	0.03mi	2/2.0	1,059 (0%)	13mo	$220,000	$208	88
108 Cambridgeshire Ct #108	0.03mi	2/2.0	1,059 (0%)	14mo	$205,000	$194	87
203 Cambridgeshire Ct #203	0.01mi	2/2.0	1,059 (0%)	18mo	$196,000	$185	85
501 Cambridgeshire Ct #501	0.07mi	2/2.0	1,059 (0%)	21mo	$195,000	$184	79

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.19×
• Total profit: $-45,368
• Equity at exit: $29,821

10-year hold

• IRR: -30.8%
• Equity multiple: -0.21×
• Total profit: $-67,538
• Equity at exit: $17,292

Cash invested: $56,000 (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 37615

• Home prices YoY: -19.2%
• Rents YoY: -0.6%
• Active inventory: 221
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$59 /mo · $703/yr
• Insurance: −$83
• HOA: −$125
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $-134

Break-even live

Break-even rent $1,665

Max offer price $176,258

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-78	+0% $-134	+5% $-191	+10% $-248
Rent	-10% $-253	-5% $-193	+0% $-134	+5% $-75	+10% $-16
Rate	-1.0pp $-34	-0.5pp $-84	base $-134	+0.5pp $-186	+1.0pp $-239

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Julie Ln Johnson City, TN	2.0	2.5	1530	$1,538	$1.00	15d	1	0.35mi
300 Car-Mol Dr Unit 3 Johnson City, TN	2.0	1.0	750	$1,200	$1.60	45d	1	0.83mi
308 Carmol Dr #12 Johnson City, TN	2.0	2.0	1472	$1,550	$1.05	15d	1	0.84mi
3918 Timberlake Rd Unit 17 Johnson City, TN	2.0	1.5	1100	$985	$0.90	45d	1	1.47mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 21 events

1. 2026-06-21
   days on market $199,999 Active 67 DOM
2. 2026-06-19
   days on market $199,999 Active 65 DOM
3. 2026-06-18
   days on market $199,999 Active 64 DOM
4. 2026-06-17
   days on market $199,999 Active 63 DOM
5. 2026-06-16
   days on market $199,999 Active 62 DOM
6. 2026-06-15
   price $199,999 Active 61 DOM
7. 2026-06-15
   days on market $205,000 Active 61 DOM
8. 2026-06-14
   days on market $205,000 Active 59 DOM
9. 2026-06-13
   days on market $205,000 Active 58 DOM
10. 2026-06-10
    days on market $205,000 Active 56 DOM
11. 2026-06-09
    days on market $205,000 Active 55 DOM
12. 2026-06-08
    days on market $205,000 Active 54 DOM
13. 2026-06-07
    days on market $205,000 Active 53 DOM
14. 2026-06-02
    days on market $205,000 Active 48 DOM
15. 2026-06-01
    days on market $205,000 Active 47 DOM
16. 2026-05-31
    days on market $205,000 Active 46 DOM
17. 2026-05-30
    days on market $205,000 Active 45 DOM
18. 2026-04-26
    price $205,000 391-char remark

    Show marketing remark (391 chars)

    Welcome to 206 Cambridgeshire Court in Boones Creek! This 2-bedroom townhouse offers a spacious living area that flows into the kitchen and living room. The attached garage adds extra convenience for parking or storage. Located close to shopping, dining, and everything Boones Creek has to offer, this home is a great option for low-maintenance living. Buyer/Buyers agent to verify all info.

19. 2026-04-15
    listed $220,000 Active 391-char remark

    Show marketing remark (391 chars)

    Welcome to 206 Cambridgeshire Court in Boones Creek! This 2-bedroom townhouse offers a spacious living area that flows into the kitchen and living room. The attached garage adds extra convenience for parking or storage. Located close to shopping, dining, and everything Boones Creek has to offer, this home is a great option for low-maintenance living. Buyer/Buyers agent to verify all info.

20. 2025-06-11
    soldstatus $175,000
21. 1994-05-26
    soldstatus $59,900

ⓘ 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: $703 · $59/mo
• Projected year-2 tax: $1,420 · $118/mo
• Expected delta: +$717/yr (+$60/mo · 102.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,944
• − Mortgage interest: −$11,203
• − Property taxes: −$703
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − HOA: −$1,500
• − Depreciation: −$5,818
• Taxable loss: −$5,151
• Est. tax savings @ 24.0%: +$1,236
• After-tax cash flow: $-376/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: Johnson City
• NCES district ID: 4702130
• Math proficiency: 46% ▼ -14.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $37,514
• Composite: 38.69/100
• National rank: #4143
• State rank: #9 of 139 in TN

Livability — Johnson City

• Score: 76/100
• State rank: #8
• US rank: #3349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnson City, TN
• County: Washington County · 129,006 people
• City population: 99,926
• Metro: Johnson City, TN
• Population (ZIP): 22,821
• Household income: $77,525
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 278.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 132,816 people
• By 2030: 135,823 · +2.3%
• By 2040: 140,897 · +6.1%
• By 2050: 145,073 · +9.2%
• By 2075: 156,386 · +17.7%
• By 2100: 159,893 · +20.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Asian 1% Black 1%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+39.5) · D 29.6% · R 69.1% · Other 1.3%
• 2008→2024 swing: -6.0pp toward R · 2008: -33.5pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+36.2 2016: R+42.9 2012: R+38.5 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.47%
• Current HPI: 279.1199
• Rent YoY: ▼ -0.63%
• Metro: Johnson City, TN
• 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

+242.2% since first listed

4 events — show timeline

• 2026-04-26 Price Changed $205,000 TVRMLS
• 2026-04-15 Listed $220,000 TVRMLS
• 2025-06-11 Sold (Public Records) $175,000 Public Records
• 1994-05-26 Sold (Public Records) $59,900 Public Records

Property tax history

-2.2%/yr

Latest (2025): $703 · +0.0% YoY. Source: county tax records.