5897 Ed Ken Dr · Collegedale, TN 37363

$115,000

3 bd · 2.0 ba · 1,624 sqft · Manufactured · 79 Days on market

Built 1996 Good condition $625/mo HOA · 28% of rent ↓ 8% since listing

---

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 +27.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 5897 Ed Ken Drive! Located in the well-established Grindstone Estates. This 3 bedroom, 2-bathroom. 1624 Sq Ft home has all brand new LVT flooring throughout and is move-in ready. The well-equipped kitchen has a refrigerator, range, dishwasher, loads of cabinets and an eat-in island top, dining area has a built-in hutch, living room has a gas log fireplace and built in entertainment center, split bedroom design and 4 walk in closets! The primary bedroom has a lovely ensuite bathroom with soaking tub, double vanities, and a stand-up shower. Separate laundry room is just off the kitchen. You will love to relax on either of the 2 oversized covered porches. An added bonus is the

Key facts

• Split bedroom design
• Gas log fireplace
• Built-in hutch

Tags

• LVT FLOORING
• WELL-EQUIPPED KITCHEN
• BUILT-IN HUTCH
• GAS LOG FIREPLACE
• BUILT IN ENTERTAINMENT CENTER
• SPLIT BEDROOM DESIGN

Property features AI

Finance

• Other: Located in Grindstone Estates subdivision
• HOA & community: Homeowners association with monthly fee (includes trash)

Exterior

• Parking: 2-space carport; Concrete off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Propane; Water connected; Sewer connected
• Home design: Manufactured house; Single-family residence
• Construction: Metal siding; Metal roof; Block and pillar/post/pier foundation
• Exterior features: Rain gutters; Storage structure; Covered front and side porch

Interior

• Kitchen: Refrigerator; Electric range; Dishwasher; Eat-in kitchen
• Bedrooms: Master bedroom on main level
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Double vanity; Eat-in kitchen; Walk-in closet(s); Master bedroom on main level; Fireplace in living room (propane)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.1% in Collegedale — 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 67/100 on livability (#100 in TN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety 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: Ooltewah Elementary (math 60% / reading 52%, grade C+, #82 of 952 statewide, top 9%, 874 students, 0% FRL); Ooltewah Middle School (math 20% / reading 21%, grade F, #194 of 333 statewide, top 59%, 519 students, 0% FRL); Ooltewah High School (math 9% / reading 39%, grade F, #144 of 332 statewide, top 43%, 1,266 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: Rents soft (-0.8%/yr); 733 active listings in the ZIP; solid renter incomes; 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 $795 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.94% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.92%
• DSCR: 1.57
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.92×
• Total profit: $-2,689
• Equity at exit: $17,147

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $2,465
• Equity at exit: $9,943

Cash invested: $32,200 (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 37363

• Rents YoY: -0.8%
• Active inventory: 733
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,236 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$625
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $347

Break-even live

Break-even rent $1,797

Max offer price $115,000

Occupancy floor 79%

Sensitivity live

Price	-10% $426	-5% $386	+0% $347	+5% $307	+10% $267
Rent	-10% $170	-5% $258	+0% $347	+5% $435	+10% $523
Rate	-1.0pp $405	-0.5pp $376	base $347	+0.5pp $317	+1.0pp $287

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $625 · $7,500/yr
• Likely covers: gas

Listing history 17 events

1. 2026-06-18
   days on market $115,000 Active 79 DOM
2. 2026-06-17
   days on market $115,000 Active 78 DOM
3. 2026-06-16
   days on market $115,000 Active 77 DOM
4. 2026-06-15
   days on market $115,000 Active 76 DOM
5. 2026-06-14
   days on market $115,000 Active 74 DOM
6. 2026-06-10
   days on market $115,000 Active 71 DOM
7. 2026-06-09
   days on market $115,000 Active 70 DOM
8. 2026-06-08
   days on market $115,000 Active 69 DOM
9. 2026-06-07
   days on market $115,000 Active 68 DOM
10. 2026-06-05
    days on market $115,000 Active 65 DOM
11. 2026-06-03
    days on market $115,000 Active 64 DOM
12. 2026-06-02
    days on market $115,000 Active 63 DOM
13. 2026-06-01
    days on market $115,000 Active 62 DOM
14. 2026-05-31
    days on market $115,000 Active 61 DOM
15. 2026-05-30
    days on market $115,000 Active 60 DOM
16. 2026-04-21
    price $115,000
17. 2026-03-31
    listed $125,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,832
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − HOA: −$7,500
• − Depreciation: −$3,345
• Taxable income: $2,952
• Est. tax owed @ 24.0%: −$708
• After-tax cash flow: $3,452/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bathroom home is move-in ready with new LVT flooring and appliances. It has a good exterior and interior condition, making it a solid investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Paint trim — Improves curb appeal and resale value
• Both Replace carpet — New flooring improves aesthetics and value
• Both Replace countertops — Modernizes kitchen and increases resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Paint trim — Improves curb appeal and resale value ↑
• Both Replace carpet — New flooring improves aesthetics and value ↑
• Both Replace countertops — Modernizes kitchen and increases resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Collegedale

• Score: 67/100
• State rank: #100
• US rank: #10469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Collegedale, TN
• County: Hamilton County · 312,777 people
• City population: 1,740
• Metro: Chattanooga, TN-GA
• Population (ZIP): 42,093
• Household income: $97,399
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 884.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Hispanic / Latino 7% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 4% Italian 2% Romanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 5% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -140.23%
• Current HPI: 247.6005
• Rent YoY: ▼ -0.79%
• Metro: Chattanooga, TN-GA
• 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

-8.0% since first listed

2 events — show timeline

• 2026-04-21 Price Changed $115,000 GCAR
• 2026-03-31 Listed $125,000 GCAR