1014 N Larchmont Dr · Chattanooga, TN 37411

$260,000

4 bd · 2.0 ba · 1,740 sqft · MultiFamily public records · 46 Days on market

Built 1964 9,583 sqft lot Est $261k · at est.

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Why this score? — see what drove the C- 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 +22.8/30.0
• ARV discount +7.7/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Back on the market at no fault of the seller! Welcome to 1014 N Larchmont Dr. - a perfect investment/house hack opportunity! This duplex is partially occupied, with Unit A vacant and recently renovated, and Unit B occupied with a long time resident that is currently on a month to month lease ($1,000/mo). New roof, updated electrical panel, new paint throughout, new wall heater, and more!

Key facts

• Updated electrical
• New wall heater
• Recently renovated

Tags

• INVESTMENT OPPORTUNITY
• RECENTLY RENOVATED
• NEW ROOF
• UPDATED ELECTRICAL
• NEW WALL HEATER

Property features AI

Finance

• Financial info: Annual taxes reported

Exterior

• Parking: Concrete driveway; Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Duplex; One story; Residential income property
• Construction: Brick construction; Slab foundation; Built as a duplex
• Exterior features: Level lot; Shingle roof

Interior

• Kitchen: Refrigerator; Electric range; Electric oven; Exhaust fan
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Window unit cooling
• Interior features: Refrigerator; Exhaust fan; Electric water heater; Electric range; Electric oven
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet; Hall laundry access; Main level laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive. Per door: $225/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $258k (0.9% below list).
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Woodmore Elementary (math 22% / reading 17%, grade F, #654 of 952 statewide, top 72%, 301 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 11% at this address vs 31% district-wide (-20 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; 127 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).
• At $2,577/mo this rent would consume 55% of the median local household income ($57k/yr) (locally 685% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 46 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $200k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 8.37%
• Cash-on-cash: 7.43%
• DSCR: 1.33
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $261,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4721 Midland Pike	0.13mi	4/2.0	1,902 (+9%)	4mo	$295,000	$155	75
5007 Marylin Ln Ln	0.31mi	4/2.0	1,910 (+10%)	8mo	$285,500	$149	62
5009 Marylin Ln Ln	0.33mi	4/2.0	1,910 (+10%)	8mo	$285,500	$149	62
804 N Moore Rd	0.29mi	5/2.0 (+1)	1,901 (+9%)	7mo	$305,000	$160	60
809 N Moore Rd	0.28mi	4/2.0	1,500 (-14%)	5mo	$225,000	$150	59
5005 Marylin Ln	0.30mi	4/2.0	1,910 (+10%)	14mo	$275,000	$144	58

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: -7.3%
• Equity multiple: 0.74×
• Total profit: $-19,276
• Equity at exit: $38,767

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-2,763
• Equity at exit: $22,480

Cash invested: $72,800 (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 37411

• Rents YoY: 0.7%
• Active inventory: 127
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $2,577 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$113 /mo · $1,360/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $451

Break-even live

Break-even rent $2,007

Max offer price $260,000

Occupancy floor 78%

Sensitivity live

Price	-10% $598	-5% $524	+0% $451	+5% $377	+10% $303
Rent	-10% $247	-5% $349	+0% $451	+5% $552	+10% $654
Rate	-1.0pp $582	-0.5pp $517	base $451	+0.5pp $383	+1.0pp $315

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,578
Total (2 units)			$2,577

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
745 Henderson Dr Chattanooga, TN	3.0	2.0	1275	$1,495	$1.17	24d	1	0.28mi
708 Henderson Dr Chattanooga, TN	3.0	1.0	1100	$1,250	$1.14	15d	1	0.33mi
611 Woodvale Ave Chattanooga, TN	3.0	1.5	1299	$1,800	$1.39	24d	1	0.53mi
5008 Golfview Dr Chattanooga, TN	3.0	2.0	1830	$1,853	$1.01	24d	1	0.59mi
4224 Victory St Chattanooga, TN	3.0	2.0	1736	$1,995	$1.15	24d	1	0.63mi
3916 Blanchard St Chattanooga, TN	3.0	2.0	1056	$1,445	$1.37	24d	1	0.79mi
3911 Wilsonia Ave Chattanooga, TN	3.0	1.5	1143	$1,395	$1.22	24d	1	0.82mi
213 N Saint Marks Ave Chattanooga, TN	3.0	2.0	1337	$1,600	$1.20	15d	1	0.90mi
907 Sylvan Dr Chattanooga, TN	3.0	2.0	1248	$1,495	$1.20	24d	1	0.90mi
211 N Saint Marks Ave Chattanooga, TN	3.0	2.0	1485	$1,600	$1.08	15d	1	0.91mi
802 Aubrey Ave Unit 1 Chattanooga, TN	3.0	1.5	1248	$1,495	$1.20	15d	1	0.97mi
3518 Ridgeside Rd Chattanooga, TN	4.0	2.0	1409	$1,375	$0.98	24d	1	1.27mi
409 Booth Rd Chattanooga, TN	3.0	2.0	1530	$1,695	$1.11	24d	1	1.37mi
5314 Audreys Pl Chattanooga, TN	4.0	2.5	1645	$2,295	$1.40	22d	1	1.42mi

Listing history 11 events

1. 2026-05-10
   status Pending
2. 2026-03-31
   status Active
3. 2026-03-23
   status Pending
4. 2026-03-17
   listed $260,000 Active
5. 2026-02-28
   historical $1,050
6. 2026-02-17
   listed $1,125
7. 2026-01-31
   historical $1,125
8. 2026-01-28
   listed $1,125
9. 2025-08-05
   soldstatus $200,000
10. 2023-06-15
    price $229,900
11. 2022-02-03
    price $900

ⓘ 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: $1,360 · $113/mo
• Projected year-2 tax: $1,846 · $154/mo
• Expected delta: +$486/yr (+$40/mo · 35.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,924
• − Mortgage interest: −$14,564
• − Property taxes: −$1,360
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,474
• − Management: −$2,474
• − Depreciation: −$7,564
• Taxable income: $1,188
• Est. tax owed @ 24.0%: −$285
• After-tax cash flow: $5,123/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

+13.1% since first listed

11 events — show timeline

• 2026-05-10 Pending — GCAR
• 2026-03-31 Relisted — GCAR
• 2026-03-23 Pending — GCAR
• 2026-03-17 Listed $260,000 GCAR
• 2026-02-28 Rental Removed $1,050 GCAR
• 2026-02-17 Listed for Rent $1,125 GCAR
• 2026-01-31 Rental Removed $1,125 GCAR
• 2026-01-28 Listed for Rent $1,125 GCAR
• 2025-08-05 Sold (Public Records) $200,000 Public Records
• 2023-06-15 Price Changed $229,900 GCAR
• 2022-02-03 Price Changed $900 RENT.

Property tax history

+5.0%/yr

Latest (2025): $1,360 · +50.8% YoY. Source: county tax records.