2309 Appling St · Chattanooga, TN 37406

$121,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 123 Days on market

Built 1953 2,475 sqft lot Est $189k · 36% 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investment Opportunity! 3 bedrooms, 1 bath. Recently updated, LVP through out. No Carpet. Brand NEW refrigerator. Located on a corner lot. One level with new wheelchair ramp at the front porch. Tenant occupied. Sold ''AS-IS''

Key facts

• New refrigerator
• Wheelchair ramp
• Corner lot

Tags

• CORNER LOT
• WHEELCHAIR RAMP
• NEW REFRIGERATOR

Property features AI

Finance

• Other: Lot is level with approximate dimensions 45 x 55
• HOA & community: Sidewalks in the community

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer (sewer connected)
• Home design: Single-family residence; One story; Residential property; Subdivision: Koblentz
• Construction: Vinyl siding; Shingle roof; Block foundation; Built with crawl space
• Exterior features: Covered porch

Interior

• Kitchen: Refrigerator; Free-standing electric range; Electric range
• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Master bedroom on main level; Aluminum frame windows; Crawl space basement
• Laundry & utility: Electric water heater

🏷️ Possibly a rental listed for sale. The $121,000 price doesn't fit this home's estimated sale value (~$189,420) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $121k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $121k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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); Orchard Knob Middle (math 5% / reading 6%, grade F, #291 of 333 statewide, top 88%, 334 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 rising fast (+5.1%/yr); 130 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $837 of loan paydown is wiped out by about $4k 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 + 5.1% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. 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: 1.00% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.85%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $189,420
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2313 Appling St	0.01mi	2/1.0	840 (-9%)	23mo	$98,000	$117	65
2605 Wilder St	0.48mi	2/1.0	871 (-6%)	10mo	$115,000	$132	60
3301 Taylor St	0.59mi	2/1.0	1,000 (+8%)	4mo	$205,000	$205	56
3201 Curtis St	0.55mi	2/1.0	1,026 (+11%)	1mo	$80,000	$78	55
2104 Sims St	0.74mi	3/2.0 (+1)	960 (+4%)	4mo	$230,000	$240	47
2014 Curtis St	0.61mi	2/1.0	792 (-14%)	14mo	$195,000	$246	36

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 · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,101
• Equity at exit: $18,041

10-year hold

• IRR: 10.7%
• Equity multiple: 1.91×
• Total profit: $30,670
• Equity at exit: $10,462

Cash invested: $33,880 (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 37406

• Home prices YoY: -23.8%
• Rents YoY: 5.1%
• Active inventory: 130
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,214 high
• Mortgage (P&I): −$635
• Tax from tax record: −$24 /mo · $288/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $250

Break-even live

Break-even rent $897

Max offer price $121,000

Occupancy floor 74%

Sensitivity live

Price	-10% $318	-5% $284	+0% $250	+5% $216	+10% $181
Rent	-10% $154	-5% $202	+0% $250	+5% $298	+10% $346
Rate	-1.0pp $311	-0.5pp $281	base $250	+0.5pp $218	+1.0pp $187

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2305 Glass St Chattanooga, TN	2.0	1.0	738	$1,050	$1.42	25d	1	0.19mi
2512 Boone St Chattanooga, TN	3.0	1.0	1060	$1,150	$1.08	15d	1	0.27mi
2400 Crutchfield St Chattanooga, TN	3.0	1.0	984	$1,200	$1.22	22d	1	0.28mi
2405 Harley St Chattanooga, TN	2.0	1.0	700	$1,199	$1.71	15d	1	0.28mi
2215 Allin St Unit A Chattanooga, TN	2.0	1.0	700	$899	$1.28	25d	1	0.68mi
2829 New Jersey Ave Chattanooga, TN	3.0	2.0	1120	$1,295	$1.16	15d	1	0.85mi
1707 Arlington Ave Unit B Chattanooga, TN	2.0	1.0	760	$1,000	$1.32	25d	1	0.88mi
2113 Ocoee St Unit 2113 Chattanooga, TN	2.0	1.0	780	$950	$1.22	25d	1	0.91mi
1754 Ocoee St Chattanooga, TN	3.0	1.5	1050	$1,250	$1.19	15d	1	1.04mi
1409 Bradt St Chattanooga, TN	3.0	1.0	960	$1,275	$1.33	25d	1	1.10mi
1310 Roanoke Ave Chattanooga, TN	2.0	1.0	792	$1,350	$1.70	25d	1	1.23mi
1237 Wheeler Ave Unit B Chattanooga, TN	2.0	1.0	845	$1,125	$1.33	25d	1	1.28mi
1301 N Orchard Knob Ave Chattanooga, TN	2.0	1.0	864	$1,095	$1.27	25d	1	1.29mi
1228 Sholar Ave Chattanooga, TN	2.0	1.0	799	$1,199	$1.50	25d	1	1.41mi
1226 Sholar Ave Chattanooga, TN	2.0	1.0	799	$1,099	$1.38	15d	1	1.42mi
1820 Tunnel Blvd Chattanooga, TN	1.0	1.0	640	$995	$1.55	25d	1	1.47mi

Listing history 21 events

1. 2026-06-22
   days on market $121,000 Active 123 DOM
2. 2026-06-18
   days on market $121,000 Active 120 DOM
3. 2026-06-17
   days on market $121,000 Active 119 DOM
4. 2026-06-16
   days on market $121,000 Active 118 DOM
5. 2026-06-15
   days on market $121,000 Active 117 DOM
6. 2026-06-14
   days on market $121,000 Active 115 DOM
7. 2026-06-10
   days on market $121,000 Active 112 DOM
8. 2026-06-09
   days on market $121,000 Active 111 DOM
9. 2026-06-08
   days on market $121,000 Active 110 DOM
10. 2026-06-07
    days on market $121,000 Active 109 DOM
11. 2026-06-05
    days on market $121,000 Active 106 DOM
12. 2026-06-03
    days on market $121,000 Active 105 DOM
13. 2026-06-02
    days on market $121,000 Active 104 DOM
14. 2026-06-01
    days on market $121,000 Active 103 DOM
15. 2026-05-31
    days on market $121,000 Active 102 DOM
16. 2026-05-30
    days on market $121,000 Active 101 DOM
17. 2026-04-07
    price $121,000
18. 2026-02-18
    listed $126,000 Active
19. 2013-07-15
    soldstatus $3,727,608
20. 2003-09-09
    soldstatus $20,000
21. 2002-03-05
    listed $43,500

ⓘ 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: $288 · $24/mo
• Projected year-2 tax: $859 · $72/mo
• Expected delta: +$571/yr (+$48/mo · 197.9%)

ⓘ 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) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 4/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,564
• − Mortgage interest: −$6,778
• − Property taxes: −$288
• − Insurance: −$605
• − Repairs & maintenance: −$1,165
• − Management: −$1,165
• − Depreciation: −$3,520
• Taxable income: $1,042
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $2,747/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): 13,364
• Household income: $44,850
• Rent vs Own: 52.8% rent · 47.2% own
• Severe rent burden: 759.0

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 (70%)
• Race & ethnicity: Black 70% White 21% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Italian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 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: ▼ -63.73%
• Current HPI: 203.5858
• Rent YoY: ▲ 5.13%
• 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

+178.2% since first listed

5 events — show timeline

• 2026-04-07 Price Changed $121,000 GCAR
• 2026-02-18 Listed $126,000 GCAR
• 2013-07-15 Sold (Public Records) $3,727,608 Public Records
• 2003-09-09 Sold (Public Records) $20,000 Public Records
• 2002-03-05 Listed $43,500 RCAOR

Property tax history

+6.6%/yr

Latest (2025): $288 · +43.6% YoY. Source: county tax records.