345 Virgil Ave · Kingsport, TN 37665

$90,000

3 bd · 2.0 ba · 1,592 sqft · Manufactured public records · 43 Days on market

Built 1979 6,098 sqft 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.3/10.0

Listing remarks

Investor Special! Prime location near shopping, dining, and amenities. This spacious 3 bedroom, 1 bath 1592 sq. ft. home is ready for your vision. Perfect for investors looking for their next renovation project. Sold as is! Don't miss out on this chance to create something amazing in a convenient, high demand area. M-F showing after 4:30 and weekends after

Key facts

• 6,098 sq ft lot
• Built 1979
• Listed 42 days

Property features AI

Finance

• Other: Zoning: R 1B; Topography: Sloped; Subdivision: Lynn Garden

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity connected; Cable available/connected
• Home design: Manufactured house (double wide); Single-story; Residential single family residence; Property listed as fixer
• Construction: Vinyl siding; Metal roof; Pillar/post/pier foundation; Built as a manufactured (mobile) double wide
• Exterior features: Balcony; Side porch; Back yard fencing

Interior

• Kitchen: Electric range
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Vinyl flooring; Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling; Ceiling fan(s)
• Interior features: Walk-in closet(s); Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer (appliance present)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: John F. Kennedy Elementary School (math 22% / reading 27%, grade F, #546 of 952 statewide, top 61%, 266 students, 0% FRL); Ross N. Robinson Middle School (math 42% / reading 40%, grade F, #37 of 333 statewide, top 12%, 955 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: 30 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $622 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $25k; list at $90k implies a 260% gain — meaningful room to come down on a strong offer.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 13.92%
• Cash-on-cash: 27.23%
• DSCR: 2.21
• GRM: 4.9

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: 21.2%
• Equity multiple: 1.87×
• Total profit: $21,863
• Equity at exit: $13,419

10-year hold

• IRR: 29.4%
• Equity multiple: 3.62×
• Total profit: $66,042
• Equity at exit: $7,782

Cash invested: $25,200 (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 37665

• Home prices YoY: -2.6%
• Active inventory: 30
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$472
• Tax from tax record: −$118 /mo · $1,414/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $572

Break-even live

Break-even rent $794

Max offer price $90,000

Occupancy floor 57%

Sensitivity live

Price	-10% $623	-5% $597	+0% $572	+5% $546	+10% $521
Rent	-10% $452	-5% $512	+0% $572	+5% $632	+10% $692
Rate	-1.0pp $617	-0.5pp $595	base $572	+0.5pp $549	+1.0pp $525

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1040 Tiptop Ave Kingsport, TN	2.0–3.0	2.0	947	$1,025	$1.08	13d	1	0.20mi
1100 Harrison Ave Unit 1 Kingsport, TN	3.0	1.0	2100	$1,695	$0.81	13d	1	0.26mi
179 Gilmer St Unit A Kingsport, TN	2.0	1.0	1300	$1,450	$1.12	13d	1	0.73mi
724 Teasel Dr Kingsport, TN	1.0–2.0	1.0	927	$999	$1.08	21d	1	1.15mi
305 McKenzie Dr Unit 1 Kingsport, TN	2.0	2.0	1176	$1,800	$1.53	13d	1	1.20mi
1441 Gress Mag Mtn Kingsport, TN	3.0	2.5	2218	$2,200	$0.99	21d	1	1.22mi
1240 Stamp Lodge Rd Kingsport, TN	4.0	2.5	1991	$2,170	$1.09	21d	1	1.26mi
1104 Tay Sta Kingsport, TN	3.0	3.0	2136	$2,250	$1.05	21d	1	1.30mi
124 Bloomingdale Pike Kingsport, TN	1.0–2.0	1.0–1.5	878	$1,300	$1.48	13d	1	1.41mi

Listing history 39 events

1. 2026-06-19
   days on market $90,000 Active 43 DOM
2. 2026-06-18
   days on market $90,000 Active 42 DOM
3. 2026-06-17
   days on market $90,000 Active 41 DOM
4. 2026-06-16
   days on market $90,000 Active 40 DOM
5. 2026-06-15
   days on market $90,000 Active 39 DOM
6. 2026-06-14
   days on market $90,000 Active 37 DOM
7. 2026-06-13
   days on market $90,000 Active 36 DOM
8. 2026-06-10
   days on market $90,000 Active 34 DOM
9. 2026-06-09
   days on market $90,000 Active 33 DOM
10. 2026-06-08
    days on market $90,000 Active 32 DOM
11. 2026-06-07
    days on market $90,000 Active 31 DOM
12. 2026-06-05
    days on market $90,000 Active 28 DOM
13. 2026-06-03
    days on market $90,000 Active 27 DOM
14. 2026-06-02
    days on market $90,000 Active 26 DOM
15. 2026-06-01
    days on market $90,000 Active 25 DOM
16. 2026-05-31
    days on market $90,000 Active 24 DOM
17. 2026-05-30
    days on market $90,000 Active 23 DOM
18. 2026-05-07
    listed $90,000 Active
19. 2026-01-08
    historical
20. 2026-01-08
    listed $135,800
21. 2025-04-04
    price $135,800
22. 2025-03-28
    price $135,808
23. 2025-03-21
    price $135,880
24. 2025-03-15
    price $135,888
25. 2025-03-05
    status Active
26. 2025-03-05
    price $135,900
27. 2025-02-27
    historical Pending - Continue to Show
28. 2025-02-27
    historical
29. 2025-02-20
    price $135,909
30. 2025-02-13
    price $135,990
31. 2025-02-06
    price $135,999
32. 2025-02-06
    status Active
33. 2025-01-21
    historical Pending - Continue to Show
34. 2025-01-10
    price $139,900
35. 2024-06-10
    listed $139,909 Active
36. 2023-07-07
    price $135,000
37. 2023-05-18
    price $145,000
38. 2015-07-07
    soldstatus $25,000
39. 1999-03-22
    soldstatus $30,700

ⓘ 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: $1,414 · $118/mo
• Projected year-2 tax: $1,414 · $118/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,215
• − Mortgage interest: −$5,041
• − Property taxes: −$1,414
• − Insurance: −$450
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$2,618
• Taxable income: $5,777
• Est. tax owed @ 24.0%: −$1,386
• After-tax cash flow: $5,476/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
• City population: 83,493
• Population (ZIP): 5,156

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% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 6% Serbian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: ▼ -7.36%
• Current HPI: 275.7692
• 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

+193.2% since first listed

22 events — show timeline

• 2026-05-07 Listed $90,000 TVRMLS
• 2026-01-08 Listing Removed — REALTRACS as Distributed by MLS Grid
• 2026-01-08 Listed $135,800 REALTRACS as Distributed by MLS Grid
• 2025-04-04 Price Changed $135,800 Knoxville MLS
• 2025-03-28 Price Changed $135,808 Knoxville MLS
• 2025-03-21 Price Changed $135,880 Knoxville MLS
• 2025-03-15 Price Changed $135,888 Knoxville MLS
• 2025-03-05 Relisted — Knoxville MLS
• 2025-03-05 Price Changed $135,900 Knoxville MLS
• 2025-02-27 Contingent — Knoxville MLS
• 2025-02-27 Listing Removed — Knoxville MLS
• 2025-02-20 Price Changed $135,909 Knoxville MLS
• 2025-02-13 Price Changed $135,990 Knoxville MLS
• 2025-02-06 Price Changed $135,999 Knoxville MLS
• 2025-02-06 Relisted — Knoxville MLS
• 2025-01-21 Contingent — Knoxville MLS
• 2025-01-10 Price Changed $139,900 Knoxville MLS
• 2024-06-10 Listed $139,909 Knoxville MLS
• 2023-07-07 Price Changed $135,000 TVRMLS
• 2023-05-18 Price Changed $145,000 TVRMLS
• 2015-07-07 Sold (Public Records) $25,000 Public Records
• 1999-03-22 Sold (Public Records) $30,700 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,414 · +63.6% YoY. Source: county tax records.