1608 Monterey Dr · Chattanooga, TN 37411

$194,000

3 bd · 2.0 ba · 1,344 sqft · SingleFamily public records · 121 Days on market

Built 1959 0.43 ac lot Est $233k · 17% under

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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).

• Cash flow +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Livability +3.9/5.0
• 1% rule +2.9/10.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Do not miss this three bedroom one and a half bath home on a nice fenced lot. You will love the space in the large living room, den and separate dining room. .Home has a new roof and electric panel. Great investment opportunity.

Key facts

• Electric panel
• Fenced lot
• New roof

Tags

• FENCED LOT
• NEW ROOF
• ELECTRIC PANEL

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Phone available
• Home design: Single-family home; One story; Block foundation; Shingle roof; Residential property
• Construction: Built with other construction materials; Block foundation
• Exterior features: Covered porch; Fenced yard; Gentle sloping lot; Public maintained road

Interior

• Kitchen: Refrigerator; Free-standing electric range; Free-standing electric oven; Electric water heater
• Flooring: Hardwood; No flooring specified in some areas
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Washer/dryer hookups for both electric and gas dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $78 ($933/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (20.7% below list).
• Recommended offer: $154k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Hardy Elementary School (math 8% / reading 2%, grade F, #896 of 952 statewide, top 96%, 435 students, 0% FRL); Dalewood Middle School (math 7% / reading 7%, grade F, #278 of 333 statewide, top 85%, 258 students, 0% FRL); Brainerd High School (math 2% / reading 12%, grade F, #294 of 332 statewide, top 91%, 635 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.
• Zoned-school proficiency averages 6% at this address vs 31% district-wide (-25 pts) — the specific schools serving this property underperform the Hamilton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 129 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).
• This rent runs 33% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• 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 121 days — a 12% lower offer ($171k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,855 (20.7% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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: 0.79% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $232,512
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1860 Greenwood Rd	0.37mi	3/2.0	1,432 (+6%)	12mo	$170,000	$119	61
3403 Gay St	0.53mi	3/2.0	1,458 (+8%)	1mo	$152,500	$105	61
1212 Greenwood Rd	0.47mi	3/2.0	1,350 (+0%)	22mo	$233,350	$173	59
1121 Orangewood Ave	0.53mi	3/1.0	1,213 (-10%)	6mo	$100,000	$82	50
1532 Lillian Ln	0.69mi	3/1.0	1,352 (+1%)	22mo	$259,900	$192	44
3002 Peggy Ln	0.58mi	3/2.0	1,526 (+14%)	10mo	$273,000	$179	42
1905 Parkway Dr	0.61mi	3/2.5	1,267 (-6%)	22mo	$250,000	$197	41
3604 Wilcox Blvd	0.70mi	3/1.0	1,184 (-12%)	4mo	$145,000	$122	40
1918 N Chamberlain Ave	0.59mi	4/2.0 (+1)	1,211 (-10%)	14mo	$265,000	$219	39
3012 Peggy Ln	0.61mi	3/1.0	1,500 (+12%)	12mo	$282,000	$188	38
1117 Belmeade Ave	0.71mi	2/1.0 (-1)	1,167 (-13%)	4mo	$185,000	$159	33

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.45×
• Total profit: $-30,022
• Equity at exit: $28,926

10-year hold

• IRR: -11.3%
• Equity multiple: 0.38×
• Total profit: $-33,651
• Equity at exit: $16,774

Cash invested: $54,320 (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 37411

• Rents YoY: 0.7%
• Active inventory: 129
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,539 high
• Mortgage (P&I): −$1,017
• Tax from tax record: −$40 /mo · $474/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $78

Break-even live

Break-even rent $1,440

Max offer price $194,000

Occupancy floor 90%

Sensitivity live

Price	-10% $188	-5% $133	+0% $78	+5% $23	+10% $-32
Rent	-10% $-44	-5% $17	+0% $78	+5% $139	+10% $199
Rate	-1.0pp $175	-0.5pp $127	base $78	+0.5pp $27	+1.0pp $-24

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Rockway Dr Unit 2 Chattanooga, TN	2.0	1.0	940	$1,250	$1.33	15d	1	0.60mi
1706 Wheeler Ave Chattanooga, TN	3.0	1.0	1317	$1,625	$1.23	25d	1	0.64mi
1205 Tunnel Blvd Chattanooga, TN	3.0	1.0	1044	$1,350	$1.29	25d	1	0.73mi
1601 Arlington Ave Chattanooga, TN	3.0	1.0	1416	$1,650	$1.17	15d	1	0.75mi
1635 Dogwood Dr Chattanooga, TN	3.0	1.0	1024	$1,600	$1.56	15d	1	0.76mi
2323 Green Forest Dr Chattanooga, TN	2.0	2.5	1404	$1,750	$1.25	15d	1	0.78mi
2009 Taylor St Chattanooga, TN	3.0	1.5	1800	$1,950	$1.08	25d	1	0.83mi
2400 Crutchfield St Chattanooga, TN	3.0	1.0	984	$1,200	$1.22	23d	1	0.84mi
2709 Citico Ave Chattanooga, TN	2.0–3.0	1.0	1038	$1,400	$1.35	25d	1	0.89mi
2009 Camden St Chattanooga, TN	3.0	1.5	1148	$1,450	$1.26	25d	1	1.00mi
1409 Bradt St Chattanooga, TN	3.0	1.0	960	$1,275	$1.33	25d	1	1.01mi
3715 Rollingwood Dr Chattanooga, TN	3.0	1.5	1200	$1,400	$1.17	25d	1	1.01mi
3868 Mark Twain Cir Chattanooga, TN	4.0	2.0	1841	$1,775	$0.96	25d	1	1.06mi
2512 Boone St Chattanooga, TN	3.0	1.0	1060	$1,150	$1.08	15d	1	1.11mi
822 Gillespie Rd Chattanooga, TN	2.0	1.0	1000	$1,550	$1.55	15d	1	1.14mi
2603 Dodson Ave Chattanooga, TN	4.0	1.0	1104	$1,250	$1.13	23d	1	1.17mi
2105 Rawlings St Chattanooga, TN	3.0	1.0	1064	$1,300	$1.22	15d	1	1.20mi
2011 Milne St Unit b Chattanooga, TN	3.0	1.0	976	$1,345	$1.38	15d	1	1.22mi
1754 Ocoee St Chattanooga, TN	3.0	1.5	1050	$1,250	$1.19	15d	1	1.23mi
2829 New Jersey Ave Chattanooga, TN	3.0	2.0	1120	$1,295	$1.16	15d	1	1.24mi
907 Sylvan Dr Chattanooga, TN	3.0	2.0	1248	$1,495	$1.20	25d	1	1.24mi
802 Aubrey Ave Unit 1 Chattanooga, TN	3.0	1.5	1248	$1,495	$1.20	15d	1	1.26mi
3118 Noa St Chattanooga, TN	3.0	2.5	1350	$1,599	$1.18	15d	1	1.35mi
619 Shannon Ave Chattanooga, TN	2.0	1.0	962	$1,250	$1.30	25d	1	1.36mi
3911 Wilsonia Ave Chattanooga, TN	3.0	1.5	1143	$1,395	$1.22	25d	1	1.36mi
1908 Robbins St Chattanooga, TN	3.0	2.0	1783	$1,750	$0.98	15d	1	1.38mi
3916 Blanchard St Chattanooga, TN	3.0	2.0	1056	$1,445	$1.37	25d	1	1.38mi
3518 Ridgeside Rd Chattanooga, TN	4.0	2.0	1409	$1,375	$0.98	25d	1	1.40mi
409 Booth Rd Chattanooga, TN	3.0	2.0	1530	$1,695	$1.11	25d	1	1.46mi

Listing history 20 events

1. 2026-06-22
   days on market $194,000 Active 121 DOM
2. 2026-06-18
   days on market $194,000 Active 118 DOM
3. 2026-06-17
   days on market $194,000 Active 117 DOM
4. 2026-06-16
   days on market $194,000 Active 116 DOM
5. 2026-06-15
   days on market $194,000 Active 115 DOM
6. 2026-06-14
   days on market $194,000 Active 113 DOM
7. 2026-06-10
   days on market $194,000 Active 110 DOM
8. 2026-06-09
   days on market $194,000 Active 109 DOM
9. 2026-06-08
   days on market $194,000 Active 108 DOM
10. 2026-06-07
    days on market $194,000 Active 107 DOM
11. 2026-06-05
    days on market $194,000 Active 104 DOM
12. 2026-06-03
    days on market $194,000 Active 103 DOM
13. 2026-06-02
    days on market $194,000 Active 102 DOM
14. 2026-06-01
    days on market $194,000 Active 101 DOM
15. 2026-05-31
    days on market $194,000 Active 100 DOM
16. 2026-05-30
    days on market $194,000 Active 99 DOM
17. 2026-04-07
    price $194,000
18. 2026-02-21
    listed $199,000 Active
19. 2013-07-15
    soldstatus $3,727,608
20. 2007-12-31
    soldstatus $98,000

ⓘ 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: $474 · $40/mo
• Projected year-2 tax: $1,377 · $115/mo
• Expected delta: +$903/yr (+$75/mo · 190.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $18,463
• − Mortgage interest: −$10,867
• − Property taxes: −$474
• − Insurance: −$970
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$5,644
• Taxable loss: −$2,446
• Est. tax savings @ 24.0%: +$587
• After-tax cash flow: $1,520/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
• County: Hamilton County · 312,777 people
• City population: 131,999
• Metro: Chattanooga, TN-GA
• Population (ZIP): 18,997
• Household income: $56,579
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 685.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 48% White 37% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 2% Slovak 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 6% Arabic 0%

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: ▼ -190.85%
• Current HPI: 240.2557
• Rent YoY: ▲ 0.73%
• 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

+98.0% since first listed

4 events — show timeline

• 2026-04-07 Price Changed $194,000 GCAR
• 2026-02-21 Listed $199,000 GCAR
• 2013-07-15 Sold (Public Records) $3,727,608 Public Records
• 2007-12-31 Sold (Public Records) $98,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $474 · -1.3% YoY. Source: county tax records.