37 N Tulip Ave · Chattanooga, TN 37419

$145,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 207 Days on market

Built 1968 8,712 sqft lot Est $258k · 44% under ↓ 3% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* All offers encouraged and will be presented promptly * 37 N Tulip - converted garage to 3 bedroom / 1 bathroom home. Attention investors and renovators — here's an opportunity to acquire two adjacent properties in the heart of Lookout Valley! 37 N Tulip Ave and 3302 Kellys Ferry Rd are being listed separately but can be purchased together, offering excellent potential for full renovation, long-term rentals, or future redevelopment. Both homes will need cosmetic updating and repairs, making them ideal for buyers ready to take on a project and add value. The lots are level and well-situated near downtown Chattanooga with easy access to I-24, shopping, and dining — a prime l

Key facts

• Level lots
• Easy access to i-24
• 8,712 sq ft lot

Tags

• HEART OF LOOKOUT VALLEY
• FULL RENOVATION POTENTIAL
• LEVEL LOTS
• WELL SITUATED NEAR DOWNTOWN
• EASY ACCESS TO I-24
• STRONG RENTAL POTENTIAL

Property features AI

Finance

• Financial info: Annual tax listed (amount provided in original data)

Exterior

• Parking: Other parking (details not specified)
• Utilities: Public water; Utilities described as 'See Remarks' (details not specified)
• Home design: Single-family residence; Residential property
• Construction: Built with other/unspecified construction materials; Foundation details: See remarks
• Exterior features: Other exterior features (not specified); Lot roughly 0.2 acres (approximately 75.2 x 120.9)

Interior

• Bathrooms: 1 full bathroom
• Interior features: Other exterior and interior details noted as 'Other' or 'See Remarks' (details not specified)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 3.4% in Chattanooga — 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 78/100 on livability (#3 in TN, #2,582 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Hamilton County (urban): math 31% / reading 31% proficiency, ranked #42 of 139 in TN (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lookout Valley Elementary (math 47% / reading 32%, grade F, #231 of 952 statewide, top 26%, 268 students, 0% FRL); Lookout Valley Middle / High School (math 8% / reading 22%, grade F, #237 of 332 statewide, top 75%, 318 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 163 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 2,133 units permitted in Hamilton County in 2024 (405 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 $4k of value loss. Plan a longer hold.
• Hamilton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 8→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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?
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: 1.47% ✓
• Cap rate: 12.91%
• Cash-on-cash: 23.62%
• DSCR: 2.05
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $258,300
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
126 Fern Ave	0.14mi	2/1.0 (-1)	1,164 (-8%)	12mo	$239,000	$205	66
228 S Moss Ave	0.48mi	2/1.0 (-1)	1,123 (-11%)	12mo	$135,000	$120	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 1.57×
• Total profit: $23,182
• Equity at exit: $21,620

10-year hold

• IRR: 23.0%
• Equity multiple: 2.98×
• Total profit: $80,304
• Equity at exit: $12,537

Cash invested: $40,600 (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 37419

• Home prices YoY: -28.9%
• Active inventory: 163
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,139 high
• Mortgage (P&I): −$760
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $733

Break-even live

Break-even rent $1,211

Max offer price $145,000

Occupancy floor 61%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3830 Kellys Ferry Rd Chattanooga, TN	3.0	1.5	1320	$1,995	$1.51	13d	1	0.67mi
3384 Willow Lake Cir Chattanooga, TN	3.0	2.0	1868	$3,000	$1.61	13d	1	1.04mi
4162 Tillie Cir Chattanooga, TN	2.0	2.5	1127	$1,699	$1.51	13d	1	1.34mi
4158 Tillie Cir Chattanooga, TN	3.0	3.5	1463	$2,149	$1.47	13d	1	1.34mi
4154 Tillie Cir Chattanooga, TN	3.0	3.5	1530	$2,050	$1.34	13d	1	1.34mi
244 Asbury Oak Ln Chattanooga, TN	3.0	3.5	1463	$2,299	$1.57	13d	1	1.35mi
3217 Plaza Cir Chattanooga, TN	3.0	2.0	1667	$1,923	$1.15	13d	1	1.42mi

Listing history 21 events

1. 2026-06-18
   days on market $145,000 Active 207 DOM
2. 2026-06-17
   days on market $145,000 Active 206 DOM
3. 2026-06-16
   days on market $145,000 Active 205 DOM
4. 2026-06-15
   days on market $145,000 Active 204 DOM
5. 2026-06-14
   days on market $145,000 Active 202 DOM
6. 2026-06-10
   days on market $145,000 Active 199 DOM
7. 2026-06-09
   days on market $145,000 Active 198 DOM
8. 2026-06-08
   days on market $145,000 Active 197 DOM
9. 2026-06-07
   days on market $145,000 Active 196 DOM
10. 2026-06-05
    days on market $145,000 Active 193 DOM
11. 2026-06-03
    days on market $145,000 Active 192 DOM
12. 2026-06-02
    days on market $145,000 Active 191 DOM
13. 2026-06-01
    days on market $145,000 Active 190 DOM
14. 2026-05-31
    days on market $145,000 Active 189 DOM
15. 2026-05-30
    days on market $145,000 Active 188 DOM
16. 2026-01-21
    status Active
17. 2026-01-21
    price $145,000
18. 2026-01-07
    status Pending
19. 2025-11-18
    status Active
20. 2025-11-12
    status Pending
21. 2025-11-03
    listed $150,000 Active

ⓘ 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: $834 · $70/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: +$195/yr (+$16/mo · 23.4%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 8 d/yr ≥101°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,665
• − Mortgage interest: −$8,122
• − Property taxes: −$834
• − Insurance: −$1,522
• − Repairs & maintenance: −$2,053
• − Management: −$2,053
• − Depreciation: −$4,218
• Taxable income: $6,861
• Est. tax owed @ 24.0%: −$1,647
• After-tax cash flow: $7,147/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: Hamilton County
• NCES district ID: 4701590
• Math proficiency: 31% ▼ -10.00%
• Reading proficiency: 31% ▼ -3.00%
• Median HH income: $47,456
• Composite: 26.8/100
• National rank: #7122
• State rank: #42 of 139 in TN

Livability — Chattanooga

• Score: 78/100
• State rank: #3
• US rank: #2582

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chattanooga, TN
• City population: 131,999
• Population (ZIP): 6,288

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 393,784 people
• By 2030: 412,983 · +4.9%
• By 2040: 449,502 · +14.1%
• By 2050: 484,341 · +23.0%
• By 2075: 565,746 · +43.7%
• By 2100: 618,394 · +57.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 5% Black 2%
• Common ancestry: Slovak 5% Serbian 3% Iranian 2%
• Foreign-born: 5% · China, Vietnam, South Korea
• Languages at home: 95% English-only · Vietnamese 2% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Hamilton

• 2024 margin: R (+13.1) · D 42.7% · R 55.7% · Other 1.6%
• 2008→2024 swing: -1.2pp toward R · 2008: -11.8pp · 2024: -13.1pp
• All cycles: 2024: R+13.1 2020: R+9.7 2016: R+16.6 2012: R+14.8 2008: R+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.36%
• Current HPI: 258.6585
• 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

-3.3% since first listed

6 events — show timeline

• 2026-01-21 Relisted — GCAR
• 2026-01-21 Price Changed $145,000 GCAR
• 2026-01-07 Pending — GCAR
• 2025-11-18 Relisted — GCAR
• 2025-11-12 Pending — GCAR
• 2025-11-03 Listed $150,000 GCAR

Property tax history

+6.8%/yr

Latest (2025): $834 · +12.3% YoY. Source: county tax records.