4900 15th Ave · Chattanooga, TN 37407

$110,000

3 bd · 1.0 ba · 1,085 sqft · SingleFamily public records · 6 Days on market

Built 1935 0.29 ac lot Est $179k · 39% under

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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 +7.2/10.0
• 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

Great opportunity for an investment portfolio. Property has been updated recently and has a large lot for potential value add opportunities in the future.

Key facts

• 0.29 acre lot
• Built 1935
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 10.8% 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 Elementary (math 12% / reading 6%, grade F, #839 of 952 statewide, top 88%, 590 students, 0% FRL); 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 7% at this address vs 31% district-wide (-24 pts) — the specific schools serving this property underperform the Hamilton County average; the district grade overstates school quality for this exact location.
• Market conditions: 40 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $761 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 32y 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.
• Current owner paid $92k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $110,000

Questions for the listing agent

1. Built in 1935 — 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: 1.22% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.04%
• DSCR: 1.71
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $179,025
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4817 16th Ave	0.05mi	2/1.0 (-1)	1,179 (+9%)	2mo	$38,900	$33	77
1 Battery Dr	0.37mi	2/1.0 (-1)	1,116 (+3%)	4mo	$125,000	$112	70
2809 E 45th St	0.31mi	3/1.0	1,188 (+10%)	3mo	$195,000	$164	67
207 Wilson St	0.46mi	2/1.0 (-1)	1,016 (-6%)	2mo	$140,000	$138	61
119 Wilson St	0.46mi	2/1.0 (-1)	1,120 (+3%)	11mo	$165,000	$147	59
403 Andrews St	0.54mi	2/2.0 (-1)	1,100 (+1%)	15mo	$182,000	$165	51
1502 E 49th St	0.54mi	3/1.0	980 (-10%)	10mo	$129,000	$132	51
707 Bronson St	0.73mi	3/1.0	1,008 (-7%)	5mo	$175,000	$174	50
411 Andrews St	0.58mi	3/1.5	1,170 (+8%)	13mo	$198,000	$169	47
702 Short St	0.74mi	4/2.0 (+1)	1,116 (+3%)	6mo	$200,000	$179	46
119 Hogan Rd	0.60mi	3/2.0	1,242 (+14%)	2mo	$219,000	$176	42
1403 E 49th St	0.63mi	3/2.5	1,200 (+11%)	8mo	$230,000	$192	41

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: 6.9%
• Equity multiple: 1.27×
• Total profit: $8,348
• Equity at exit: $16,401

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $40,839
• Equity at exit: $9,511

Cash invested: $30,800 (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 37407

• Home prices YoY: -8.1%
• Active inventory: 40
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,344 high
• Mortgage (P&I): −$577
• Tax from tax record: −$27 /mo · $324/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $412

Break-even live

Break-even rent $822

Max offer price $110,000

Occupancy floor 64%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1409 E 50th St Chattanooga, TN	3.0	2.5	1350	$1,599	$1.18	14d	1	0.60mi
515 W Gordon Ave Rossville, GA	2.0	1.0	906	$999	$1.10	44d	1	0.73mi
813 Chickamauga Ave Unit A Rossville, GA	2.0	1.0	900	$1,099	$1.22	23d	1	0.76mi
132 Hogan Rd Rossville, GA	3.0	2.0	1248	$1,975	$1.58	44d	1	0.76mi
505 Flegal Ave Rossville, GA	2.0	1.0	768	$1,050	$1.37	23d	1	0.85mi
3201 E 36th St Chattanooga, TN	3.0	1.0	1368	$1,525	$1.11	23d	1	0.89mi
200A E Oak St Unit B Rossville, GA	3.0	2.0	1200	$1,200	$1.00	14d	1	0.92mi
819 Asterwood Dr Unit B Rossville, GA	2.0	2.0	975	$1,445	$1.48	14d	1	0.93mi
3635 6th Ave Unit 3639 Chattanooga, TN	3.0	2.0	1300	$1,450	$1.12	14d	1	0.93mi
3627 6th Ave Unit 3627 Chattanooga, TN	3.0	2.0	1300	$1,350	$1.04	23d	1	0.94mi
1591 Park City Rd Apt E15 Rossville, GA	2.0	1.0	1050	$1,145	$1.09	23d	1	0.96mi
304 Cherry St Rossville, GA	2.0	1.0	982	$1,675	$1.71	44d	1	1.01mi
104 Foster St Rossville, GA	3.0	2.0	1200	$1,599	$1.33	44d	1	1.04mi
361 Hogan Rd Unit C Rossville, GA	2.0	2.0	1210	$1,295	$1.07	44d	1	1.08mi
804 Henderson Ave Rossville, GA	2.0	1.0	948	$1,025	$1.08	14d	1	1.13mi
3414 Betty Ln Chattanooga, TN	2.0	1.5	1117	$1,295	$1.16	23d	1	1.18mi
817 Henderson Ave Rossville, GA	2.0	1.0	844	$1,150	$1.36	14d	1	1.19mi
3308 Roadrunner Trl Chattanooga, TN	2.0	2.0	1000	$1,323	$1.32	23d	1	1.23mi
340 Alpine Dr Rossville, GA	2.0	1.0	836	$1,275	$1.53	14d	1	1.23mi
3403 Gail Dr Chattanooga, TN	2.0	1.5	1000	$1,425	$1.43	14d	1	1.23mi
3403 Gail Dr Chattanooga, TN	2.0	2.0	1131	$1,425	$1.26	23d	1	1.23mi
1106 Carline Rd Apt B Rossville, GA	2.0	1.5	877	$1,095	$1.25	21d	1	1.40mi
1106 Carline Rd Rossville, GA	2.0	1.5	1012	$1,095	$1.08	14d	1	1.40mi
1007 Glentana St Lot 62 Rossville, GA	2.0	2.0	840	$35,995	$42.85	44d	1	1.46mi

Listing history 5 events

1. 2024-12-18
   soldstatus $92,500
2. 2024-11-19
   status Pending
3. 2024-11-13
   listed $110,000 Active
4. 1994-11-04
   soldstatus $35,000
5. 1994-07-12
   listed $40,000

ⓘ 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: $324 · $27/mo
• Projected year-2 tax: $781 · $65/mo
• Expected delta: +$457/yr (+$38/mo · 141.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°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: $16,122
• − Mortgage interest: −$6,162
• − Property taxes: −$324
• − Insurance: −$550
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$3,200
• Taxable income: $3,307
• Est. tax owed @ 24.0%: −$794
• After-tax cash flow: $4,147/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): 10,164

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 29% Black 22% Two or more races 14%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 27% · Canada
• Languages at home: 52% English-only · Spanish 43% Arabic 3%

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: ▼ -18.82%
• Current HPI: 212.4869
• 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

+131.2% since first listed

5 events — show timeline

• 2024-12-18 Sold (Public Records) $92,500 Public Records
• 2024-11-19 Pending — GCAR
• 2024-11-13 Listed $110,000 GCAR
• 1994-11-04 Sold (Public Records) $35,000 Public Records
• 1994-07-12 Listed $40,000 RCAOR

Property tax history

+2.4%/yr

Latest (2025): $324 · +40.6% YoY. Source: county tax records.