5241 Lomnick St · Chattanooga, TN 37410

$85,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 1 Days on market

Built 1955 9,240 sqft lot Est $120k · 29% under

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Why this score? — see what drove the A- 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 +9.4/10.0
• Appreciation +5.7/10.0
• Livability +3.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Here's your chance to build instant equity in a solid two-bedroom, one-bath home with serious upside potential in a desirable neighborhood. The blank-slate kitchen is a rare opportunity to design exactly what you want from the ground up -- no tearing out someone else's outdated choices, just a clean canvas ready for your vision. With good bones and a great floor plan, this home is primed for a transformation that will turn heads and deliver real returns. Out back, you'll find a fully fenced yard that's already one of the best features on the block -- private, spacious, and ready to enjoy the moment the work is done. This is the kind of property that experienced renovators and savvy buyers d

Key facts

• Blank-slate kitchen
• Fully fenced yard
• 9,240 sq ft lot

Tags

• BLANK-SLATE KITCHEN
• FULLY FENCED YARD
• DESIRABLE NEIGHBORHOOD

Property features AI

Finance

• HOA & community: Community pool

Exterior

• Parking: Driveway with gravel and other surface
• Utilities: Public water; Septic sewer; Electricity connected; Cable available
• Home design: Single-family house; One story; Fixer condition; Vinyl siding; Concrete perimeter foundation; Shingle roof
• Construction: Vinyl siding construction
• Exterior features: Front porch; Back yard fencing; No additional exterior features listed; Community pool access

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Wood window frames; Hardwood flooring; No built-in appliances listed
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 12.8% 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: East Lake Academy of Fine Arts (math 4% / reading 6%, grade F, #295 of 333 statewide, top 91%, 528 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 5% at this address vs 31% district-wide (-26 pts) — the specific schools serving this property underperform the Hamilton County average; the district grade overstates school quality for this exact location.
• Market conditions: 61 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).
• At $1,220/mo this rent would consume 51% of the median local household income ($29k/yr) (locally 406% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $2k of equity ($588 loan paydown + $1k appreciation (1.3% local appreciation)).
• Hamilton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $85,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.15%
• DSCR: 2.03
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $119,952
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5228 Slayton Ave	0.33mi	2/1.0	804 (-2%)	1mo	$80,000	$100	82
425 E 52nd St E	0.17mi	3/1.0 (+1)	828 (+2%)	6mo	$100,000	$121	80
5231 Usher Dr	0.14mi	3/1.0 (+1)	792 (-3%)	10mo	$149,900	$189	75
5233 Dorsey St	0.22mi	2/1.0	800 (-2%)	17mo	$205,000	$256	72
22 W 51st St	0.45mi	2/1.0	750 (-8%)	17mo	$110,000	$147	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.35×
• Total profit: $32,202
• Equity at exit: $30,502

10-year hold

• IRR: 28.3%
• Equity multiple: 4.50×
• Total profit: $83,277
• Equity at exit: $41,709

Cash invested: $23,800 (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 37410

• Home prices YoY: 0.6%
• Active inventory: 61
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,220 high
• Mortgage (P&I): −$446
• Tax from tax record: −$24 /mo · $285/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $459

Break-even live

Break-even rent $639

Max offer price $85,000

Occupancy floor 57%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5200 Fagan St Chattanooga, TN	3.0	1.0	816	$1,350	$1.65	23d	1	0.15mi
5238 Dorsey St Unit A Chattanooga, TN	2.0	1.0	839	$950	$1.13	23d	1	0.19mi
5505 Central Ave Chattanooga, TN	3.0	2.0	1050	$1,725	$1.64	21d	1	0.36mi
4905 Central Ave Chattanooga, TN	2.0–3.0	2.0	1169	$556	$0.48	13d	2	0.52mi
1007 Glentana St Lot 62 Rossville, GA	2.0	2.0	840	$35,995	$42.85	43d	1	0.68mi
1205 W 50th St Unit 2 Chattanooga, TN	1.0	1.0	600	$1,025	$1.71	13d	1	0.68mi
5113 Tennessee Ave Unit 58 Chattanooga, TN	1.0	1.0	700	$950	$1.36	23d	1	0.74mi
4521 Balcomb St Chattanooga, TN	1.0	1.0	534	$1,050	$1.97	23d	1	0.94mi
706 W 47th St Chattanooga, TN	2.0	1.0	680	$825	$1.21	23d	1	0.98mi
4129 Quinn Adams St Unit 2 Chattanooga, TN	2.0	1.0	856	$1,050	$1.23	23d	1	0.99mi
4113 Dorris St Apt B Chattanooga, TN	2.0	1.0	750	$950	$1.27	23d	1	1.02mi
515 W Gordon Ave Rossville, GA	2.0	1.0	906	$999	$1.10	43d	1	1.15mi
505 Flegal Ave Rossville, GA	2.0	1.0	768	$1,050	$1.37	23d	1	1.19mi
3818 Chandler Ave Chattanooga, TN	2.0	1.5	900	$1,450	$1.61	13d	1	1.25mi
3713 Dorris St Chattanooga, TN	3.0	1.0	974	$1,025	$1.05	13d	1	1.28mi
804 Henderson Ave Rossville, GA	2.0	1.0	948	$1,025	$1.08	13d	1	1.32mi
817 Henderson Ave Rossville, GA	2.0	1.0	844	$1,150	$1.36	13d	1	1.33mi
1422 Wilson Rd Rossville, GA	2.0	1.0	885	$1,050	$1.19	43d	1	1.38mi
1422 Wilson Rd Rossville, GA	2.0	1.0	885	$1,050	$1.19	23d	1	1.38mi
3605 Dorris St Chattanooga, TN	2.0	1.0	700	$825	$1.18	23d	1	1.39mi
3603 Dorris St Chattanooga, TN	2.0	1.0	700	$825	$1.18	23d	1	1.39mi
304 Cherry St Rossville, GA	2.0	1.0	982	$1,675	$1.71	43d	1	1.39mi

Listing history 2 events

1. 2026-06-07
   remarks 699-char remark
2. 2026-06-07
   listed $85,000 Pending 1 DOM

ⓘ 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: $285 · $24/mo
• Projected year-2 tax: $604 · $50/mo
• Expected delta: +$319/yr (+$27/mo · 112.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $14,645
• − Mortgage interest: −$4,761
• − Property taxes: −$285
• − Insurance: −$425
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$2,473
• Taxable income: $4,358
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $4,465/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): 4,129
• Household income: $28,708
• Rent vs Own: 79.9% rent · 20.1% own
• Severe rent burden: 406.0

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 Black (81%)
• Race & ethnicity: Black 81% Two or more races 10% White 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▲ 1.33%
• Current HPI: 228.3522
• Rent YoY: —
• 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

+97.7% since first listed

3 events — show timeline

• 2026-06-06 Pending — GCAR
• 2026-06-05 Listed $85,000 GCAR
• 2004-12-06 Listed $43,000 RCAOR

Property tax history

+3.6%/yr

Latest (2025): $285 · +30.8% YoY. Source: county tax records.