1621 Fagan St #109 · Chattanooga, TN 37408

$279,000

1 bd · 1.5 ba · 1,173 sqft · Townhouse public records · 10 Days on market

Built 2021 1.07 ac lot Est $330k · 15% under $60/mo HOA · 4% of rent

---

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).

• ARV discount +14.4/15.0
• Appreciation +10.0/10.0
• Cash flow +6.7/30.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• 1% rule +0.8/10.0

Listing remarks MLS

Location! Location! Location! Welcome to 1621 Fagan Street, Unit 109, a beautifully maintained, fully furnished townhome located in the heart of Chattanooga's thriving Southside district. Built in 2021, this move-in ready property offers modern design, low-maintenance living, and the potential to become permitted for short-term vacation rental in one of the city's most sought-after locations. Inside, you'll find a spacious and versatile floor plan spread across three thoughtfully designed levels. The entry level provides flexible space ideal for a home office, fitness area, guest space, or additional living area. The main level features an open-concept kitchen, dining, and living space complete with stainless steel appliances, abundant natural light, and direct access to a private balcony perfect for relaxing or entertaining. The upper level serves as a private retreat with a spacious bedroom featuring vaulted ceilings, a generous closet, a well-appointed ensuite bath, convenient in-unit washer and dryer, and an additional private balcony. Location is everything, and this home delivers. Situated next door to Oddstory Brewing and just minutes from Main Street's vibrant dining and entertainment scene, you'll enjoy easy access to local favorites including Kai Bistro, Shady's Corner, Southside Pizza, and more. The Sculpture Fields at Montague Park, Jefferson Heights Park, the Tennessee Riverwalk, UTC, Erlanger Hospital, North Chattanooga, and the brand new Erlanger Park, are all just moments away, making it easy to experience everything the city has to offer. Whether you're searching for a primary residence, a lock-and-leave downtown retreat, or an investment opportunity, this property checks all the boxes. The community allows short-term vacation rentals (STVR), offering excellent income-producing potential for investors. Even better, the home is being offered fully furnished, providing a turnkey opportunity for immediate occupancy or rental use. Don't miss your chance to own a modern Southside townhome in an unbeatable location with walkability, convenience, and investment potential all under one roof. Community is STR Eligible and is allowed with the HOA, but there may be a wait list for permits in the community, please inquire with the city.

Key facts

• Flexible space
• Private balcony
• Open-concept kitchen

Tags

• FULLY FURNISHED TOWNHOME
• PRIVATE BALCONY
• OPEN-CONCEPT KITCHEN
• FLEXIBLE SPACE
• MODERN DESIGN

Property features AI

Finance

• Other: Energy-efficient water heater
• HOA & community: HOA with sidewalks; Monthly association fee of $60 covering grounds maintenance; Common interest: Condominium

Exterior

• Parking: Detached parking; Assigned spaces; Parking lot; Paved parking
• Utilities: Public water; No sewer; Electricity available; Water available
• Home design: Townhouse (attached); Three or more levels; Residential property
• Construction: Fiber cement exterior; Asphalt roof; Slab foundation; Existing construction (year built not specified)
• Exterior features: Lot described as other

Interior

• Kitchen: Kitchen island; Stainless steel appliances; Refrigerator; Oven; Microwave; Disposal; Dishwasher
• Bedrooms: 1 bedroom
• Flooring: Other flooring
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Walk-in closet(s); Kitchen island; Stainless steel appliances; Refrigerator; Oven; Microwave; Disposal; Dishwasher
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath townhouse listed at $279k.

Deal economics

• At list price, monthly cash flow is $-446 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (28.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (41.6% below list).
• Recommended offer: $163k (41.6% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 3.4% in Chattanooga — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, schools F, 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.
• Market conditions: Rents rising (+2.8%/yr); 106 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Hamilton County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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.

Recommended offer $162,809 (41.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.58% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.85%
• DSCR: 0.70
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $329,613
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 E 19th St	0.64mi	1/1.5	1,100 (-6%)	12mo	$280,000	$255	50
1000 Martin Luther King Blvd E	0.69mi	1/2.0	1,108 (-6%)	22mo	$311,719	$281	38
1511 Adams St #105	0.41mi	2/2.0 (+1)	1,020 (-13%)	22mo	$300,000	$294	34

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

Projected returns pro-forma

10.0% appreciation · 2.84% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.58×
• Total profit: $123,187
• Equity at exit: $251,345

10-year hold

• IRR: 17.8%
• Equity multiple: 5.92×
• Total profit: $384,386
• Equity at exit: $542,036

Cash invested: $78,120 (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 37408

• Home prices YoY: 10.0%
• Rents YoY: 2.8%
• Active inventory: 106
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $1,628 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$116
• HOA: −$60
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-446

Break-even live

Break-even rent $2,193

Max offer price $200,212

Occupancy floor —

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1609 Fagan St #105 Chattanooga, TN	2.0	1.5	1200	$1,750	$1.46	23d	1	0.01mi
1615 Fagan St Chattanooga, TN	2.0	2.5	1173	$2,600	$2.22	14d	1	0.03mi
1603 Fagan St Chattanooga, TN	2.0	2.0	1048	$1,895	$1.81	23d	1	0.04mi
1603 Fagan St #202 Chattanooga, TN	2.0	2.0	1048	$1,875	$1.79	23d	1	0.04mi
900 E Main St Chattanooga, TN	1.0–2.0	1.0–2.0	752	$1,199	$1.59	21d	16	0.12mi
901 E Main St Chattanooga, TN	2.0	1.0	710	$1,198	$1.69	14d	1	0.14mi
1445 Fagan St Chattanooga, TN	1.0	1.0	803	$1,300	$1.62	14d	1	0.16mi
2100 Rossville Ave Chattanooga, TN	1.0–2.0	1.0–2.0	1140	$1,099	$0.96	14d	13	0.28mi
614 E Main St Chattanooga, TN	1.0	1.0	1050	$1,675	$1.60	23d	1	0.29mi
1530 Adams St Chattanooga, TN	1.0	1.0	930	$2,000	$2.15	21d	1	0.37mi
1362 Passenger St Unit 5008 Chattanooga, TN	2.0	2.0	1255	$2,475	$1.97	14d	1	0.58mi
1362 Passenger St Unit 1017 Chattanooga, TN	1.0	2.0	1230	$1,957	$1.59	23d	1	0.58mi
1362 Passenger St Unit 3008 Chattanooga, TN	2.0	2.0	1255	$2,119	$1.69	14d	1	0.58mi
1362 Passenger St Unit 3017 Chattanooga, TN	1.0	2.0	1230	$1,891	$1.54	14d	1	0.58mi
1348 Passenger St Chattanooga, TN	1.0–3.0	1.0–2.0	1073	$1,530	$1.43	14d	18	0.62mi
24 Station St Unit 207 Chattanooga, TN	1.0	1.0	713	$1,450	$2.03	23d	1	0.73mi
802 Central Ave Unit 5 Chattanooga, TN	1.0	1.0	800	$1,250	$1.56	14d	1	0.79mi
1428 Williams St Chattanooga, TN	2.0	1.5	1350	$1,975	$1.46	23d	1	0.88mi
1603 Williams St Unit B Chattanooga, TN	2.0	1.0	864	$1,150	$1.33	23d	1	0.89mi
508 S Highland Park Ave Unit 104 Chattanooga, TN	2.0	1.0	750	$1,050	$1.40	23d	1	0.93mi
912 Oak St Apt 1 Chattanooga, TN	2.0	2.0	1000	$1,400	$1.40	23d	1	0.93mi
1301 Market St Chattanooga, TN	1.0	1.0	882	$1,997	$2.26	23d	1	0.94mi
1812 E 13th St Unit B Chattanooga, TN	2.0	1.0	800	$1,065	$1.33	23d	1	0.94mi
1615 Cowart St Chattanooga, TN	—	1.0	800	$1,274	$1.59	14d	4	0.96mi
930 Douglas St Chattanooga, TN	2.0–4.0	2.0–4.0	1094	$639	$0.58	14d	44	0.97mi
820 Oak St Chattanooga, TN	1.0	1.0	800	$1,100	$1.38	23d	1	0.98mi
2605 Carr St Apt A Chattanooga, TN	2.0	1.0	850	$1,600	$1.88	23d	1	1.01mi
1701 Broad St Chattanooga, TN	1.0–2.0	1.0–2.0	890	$1,236	$1.39	14d	15	1.05mi
949 Fortwood St Chattanooga, TN	1.0–2.0	1.0	700	$1,450	$2.07	14d	7	1.11mi
245 W 26th St Chattanooga, TN	1.0	1.0	750	$1,285	$1.71	14d	21	1.11mi
1400 Chestnut St Chattanooga, TN	1.0–2.0	1.0–2.0	937	$1,606	$1.71	14d	14	1.13mi
1920 Chestnut St Chattanooga, TN	1.0–2.0	1.0–2.0	688	$960	$1.39	14d	1	1.13mi
955 E 5th St Chattanooga, TN	2.0	1.0	776	$1,250	$1.61	23d	1	1.15mi
2003 Bailey Ave Unit 2009 304 Chattanooga, TN	2.0	1.0	750	$1,500	$2.00	23d	1	1.26mi
2108 Vance Ave Chattanooga, TN	1.0	1.0	800	$1,000	$1.25	23d	1	1.27mi
1703 S Lyerly St Chattanooga, TN	2.0	1.0	700	$1,199	$1.71	14d	1	1.30mi
2001 S Lyerly St Chattanooga, TN	2.0–3.0	2.0	1080	$1,200	$1.11	14d	6	1.31mi
2322 E 18th Street Pl Chattanooga, TN	2.0	2.5	1340	$1,595	$1.19	21d	1	1.35mi
2341 E 18th St Chattanooga, TN	2.0	2.5	1316	$1,725	$1.31	23d	1	1.36mi
2347 E 18th St Chattanooga, TN	2.0	2.5	1340	$1,695	$1.26	23d	1	1.37mi

HOA detail

• Monthly dues: $60 · $720/yr

Listing history 8 events

1. 2026-06-18
   days on market $279,000 Active 10 DOM
2. 2026-06-17
   days on market $279,000 Active 9 DOM
3. 2026-06-16
   days on market $279,000 Active 8 DOM
4. 2026-06-15
   days on market $279,000 Active 7 DOM
5. 2026-06-14
   days on market $279,000 Active 5 DOM
6. 2026-06-10
   days on market $279,000 Active 2 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   listed $279,000 Active 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: $1,114 · $93/mo
• Projected year-2 tax: $1,981 · $165/mo
• Expected delta: +$867/yr (+$72/mo · 77.8%)

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

Taxation est. · year 1

• Rental income: $19,537
• − Mortgage interest: −$15,628
• − Property taxes: −$1,114
• − Insurance: −$1,395
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − HOA: −$720
• − Depreciation: −$8,116
• Taxable loss: −$10,563
• Est. tax savings @ 24.0%: +$2,535
• After-tax cash flow: $-2,817/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): 3,502
• Household income: $81,250
• Rent vs Own: 71.3% rent · 28.7% own
• Severe rent burden: 220.0

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: Majority White (63%)
• Race & ethnicity: White 63% Black 28% Hispanic / Latino 6% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Ukrainian 8% Romanian 4% Slovak 3%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 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: ▲ 29.73%
• Current HPI: 326.5006
• Rent YoY: ▲ 2.84%
• 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

+18.7% since first listed

5 events — show timeline

• 2026-06-09 Listed $279,000 REALTRACS as Distributed by MLS Grid
• 2026-06-08 Listed $279,000 GCAR
• 2022-03-23 Sold (MLS) $264,000 GCAR
• 2021-05-16 Contingent — GCAR
• 2021-05-14 Listed $235,000 GCAR

Property tax history

+1.3%/yr

Latest (2025): $1,114 · -14.8% YoY. Source: county tax records.