2 S Crest Rd · Chattanooga, TN 37404

$214,900

4 bd · 3.0 ba · 2,556 sqft · MultiFamily public records · 10 Days on market

Built 1940 0.51 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This charming unfinished 1940's craftsman triplex home sits on Chattanooga historic Missionary ridge. This Investment property has tons of potential . with 6 bedrooms /7 bathrooms within 3 separate suites. Main floor suite includes wood floors, fireplace, tall ceilings, formal entry, spacious living with 3 bathroom and 3 bedrooms. . Downstairs: 2 separate suites with large covered porch, big lot, ample parking. Great investment to live mortgage free or rent out all three units for nice rental income.

Key facts

• Wood floors
• Formal entry
• Tall ceilings

Tags

• HISTORIC MISSIONARY RIDGE
• WOOD FLOORS
• FIREPLACE
• TALL CEILINGS
• FORMAL ENTRY
• SPACIOUS LIVING

Property features AI

Finance

• Other: Located in Rose Terrace Addn subdivision; Directions: through McCallie tunnels take right on S Seminole Dr., right on Rosemont Dr. to S Crest; home on the right

Exterior

• Parking: Gravel off-street parking
• Utilities: Water: Other; Sewer: Other; Utilities: Other
• Home design: Single-family residence; Residential property; Above-grade finished area reported
• Construction: Construction materials: Other
• Exterior features: Other exterior features; Lot roughly 0.51 acres (approx. 260 x 65)

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Has cooling (type: Other)
• Interior features: Fireplace (1); Basement; Accessible bedroom

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $215k).
• Cap rate 16.6% 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 Ridge Elementary (math 22% / reading 18%, grade F, #644 of 952 statewide, top 68%, 996 students, 0% FRL); East Ridge Middle School (math 12% / reading 14%, grade F, #237 of 333 statewide, top 72%, 701 students, 0% FRL); East Ridge High School (math 7% / reading 17%, grade F, #265 of 332 statewide, top 80%, 1,008 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 15% at this address vs 31% district-wide (-16 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; 167 active listings in the ZIP; 8 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 0.0% rent growth), your $60k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y 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 $150k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,900

Questions for the listing agent

1. Built in 1940 — 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 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: 1.90% ✓
• Cap rate: 16.61%
• Cash-on-cash: 36.83%
• DSCR: 2.64
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.03% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 2.18×
• Total profit: $70,952
• Equity at exit: $32,042

10-year hold

• IRR: 35.0%
• Equity multiple: 3.78×
• Total profit: $167,401
• Equity at exit: $18,581

Cash invested: $60,172 (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 37404

• Home prices YoY: -30.6%
• Rents YoY: 0.0%
• Active inventory: 167
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $4,085 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$164 /mo · $1,964/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$858
• Net cashflow: $1,847

Break-even live

Break-even rent $1,747

Max offer price $214,900

Occupancy floor 50%

Sensitivity live

Price	-10% $1,969	-5% $1,908	+0% $1,847	+5% $1,786	+10% $1,725
Rent	-10% $1,524	-5% $1,686	+0% $1,847	+5% $2,008	+10% $2,170
Rate	-1.0pp $1,955	-0.5pp $1,902	base $1,847	+0.5pp $1,791	+1.0pp $1,735

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$4,086
Total (3 units)			$4,085

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3229 Westonia Dr Chattanooga, TN	4.0	2.0	2130	$2,695	$1.27	24d	1	0.98mi
1906 Vine St Chattanooga, TN	3.0	2.5	1881	$2,200	$1.17	24d	1	1.08mi
1905 Ivy St Chattanooga, TN	4.0	3.0	1860	$2,495	$1.34	24d	1	1.10mi
1814 Duncan Ave Chattanooga, TN	3.0	2.0	2056	$2,500	$1.22	22d	1	1.13mi
2380 E 18th Street Pl Chattanooga, TN	3.0	2.5	1950	$1,895	$0.97	22d	1	1.17mi
2328 E 18th Street Pl Chattanooga, TN	3.0	2.5	1950	$1,995	$1.02	22d	1	1.19mi
1908 Robbins St Chattanooga, TN	3.0	2.0	1783	$1,750	$0.98	15d	1	1.36mi
1516 Union Ave Chattanooga, TN	4.0	3.0	2800	$3,800	$1.36	24d	1	1.40mi

Listing history 8 events

1. 2026-06-18
   days on market $214,900 Active 10 DOM
2. 2026-06-17
   days on market $214,900 Active 9 DOM
3. 2026-06-16
   days on market $214,900 Active 8 DOM
4. 2026-06-15
   days on market $214,900 Active 7 DOM
5. 2026-06-14
   days on market $214,900 Active 5 DOM
6. 2026-06-10
   days on market $214,900 Active 2 DOM
7. 2026-06-09
   remarks 504-char remark
8. 2026-06-09
   listed $214,900 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: $1,964 · $164/mo
• Projected year-2 tax: $1,964 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 6 d/yr ≥105°F today · 14 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $49,020
• − Mortgage interest: −$12,038
• − Property taxes: −$1,964
• − Insurance: −$1,074
• − Repairs & maintenance: −$3,922
• − Management: −$3,922
• − Depreciation: −$6,252
• Taxable income: $19,849
• Est. tax owed @ 24.0%: −$4,764
• After-tax cash flow: $17,400/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): 14,737
• Household income: $56,637
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 486.0

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 0.67)
• Race & ethnicity: Black 38% White 38% Hispanic / Latino 21% Two or more races 11%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 18%

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: ▼ -139.43%
• Current HPI: 315.8539
• Rent YoY: ▬ 0.03%
• 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

+305.3% since first listed

19 events — show timeline

• 2026-06-08 Listed $214,900 GCAR
• 2025-12-31 Price Changed $215,000 GCAR
• 2025-10-14 Sold (Public Records) $150,000 Public Records
• 2025-10-09 Sold (MLS) $150,000 GCAR
• 2025-08-28 Pending — GCAR
• 2025-08-15 Relisted — GCAR
• 2025-08-15 Price Changed $199,000 GCAR
• 2025-06-24 Price Changed $800,000 GCAR
• 2025-04-09 Listed $299,000 GCAR
• 2023-04-29 Sold (MLS) $200,000 REALTRACS as Distributed by MLS Grid
• 2023-04-29 Sold (MLS) $200,000 GCAR
• 2023-04-27 Sold (Public Records) $200,000 Public Records
• 2011-11-01 Sold (Public Records) $140,000 Public Records
• 2006-03-29 Sold (Public Records) $129,000 Public Records
• 2001-05-14 Sold (Public Records) $85,500 Public Records
• 2001-05-14 Sold (MLS) $85,500 GCAR
• 2001-02-12 Listed $96,900 GCAR
• 1999-09-20 Listed $110,000 RCAOR
• 1990-11-21 Sold (Public Records) $53,027 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,964 · +52.4% YoY. Source: county tax records.