Real Estate Investing in Watauga, Tennessee (37694)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 37694 (Watauga, TN)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.3% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Watauga, TN (37694)?
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Market Analysis: 37694 Watauga
Not every below-median market is a bargain. Watauga's 37694 ZIP clocks in at signals that favor experienced operators who can absorb the risk $249K pricing implies.
Turning to rents, the numbers look inviting — $249K purchase price, 0.0% nominal cap — the work to hit that pro forma in 37694 is substantial and deserves full respect.
ZIP 37694's metrics run below Carter County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 37694 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 37694 is an operator game, not a passive one. Put differently, entry prices of $249K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Watauga:
Market Trends
Home Value History (with trend line)
📊 How Does 37694 Compare?
| Metric | 37694 | Watauga | Johnson City, TN | Tennessee |
|---|---|---|---|---|
| Home Value | $248,700 | $248,700 | N/A | $327,001 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 7.7% |
| Avg Rent | $909 | $909 | N/A | - |
| Cap Rate | 2.9% | 2.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 37694 (Watauga, TN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,700 |
| Monthly Rent | $909 |
| Price-to-Rent | 22.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +6.5% ▲ |
| 3-Year CAGR | +6.7% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 37694
Population: 1,738
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 4,709 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How high is vacancy risk in Watauga, TN?
Vacancy risk in Watauga, TN is elevated. That supports predictable cash flow for typical rental holds.
Which real estate strategy fits Watauga, TN?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Watauga, TN. The numbers - $249K homes against $909/mo rents - support that play.
How does Watauga, TN stack up for property investment?
Yes - Watauga, TN a 3.0/5 investability score. With $249K home prices against $909/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is Watauga, TN a friendly market for rental owners?
For rental operators, Watauga, TN rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the typical rental rate in Watauga, TN?
Investors in Watauga, TN typically see rents near $909/mo per month against $249K home values - a solid setup for rental cash flow.
You know 37694 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 37694 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 37694 ranks in Johnson City, TN
Every ZIP in this metro, ranked. Free.
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