None · Fort Oglethorpe, GA 30742

$795,000

49 bd · 49.0 ba · 5,004 sqft · MultiFamily · 115 Days on market

Built 1915 Good condition 1,742 sqft lot $159/sqft · 157% above area

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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).

• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Step into living history at 309 Barnhardt Circle, a rare opportunity to own a piece of Fort Oglethorpe's military past. Built in 1915 as the original Band Barracks, this remarkable property once housed 28 members of the post's military band and was electrified in 1920, a modern marvel for its time. The iconic center fields of Barnhardt Circle were historically used for cavalry training and even hosted polo matches, making this location not just historic, but legendary. Today, the property operates as a fully occupied 7-unit multi-family investment featuring: • 4 spacious one-bedroom apartments • 3 charming studio residences • Gross annual rents exceeding $87,500 • Zoned R-3 Residential Positioned steps from the 9,000+ acre Chickamauga Battlefield, this location offers unmatched walkability in one of the area's most sought-after historic districts. Residents enjoy proximity to shopping and dining in Fort Oglethorpe, with convenient access to Rossville and Chickamauga. Investment Highlights: • All units currently occupied with strong tenant demand • Stable cash flow with upside potential • Opportunity to increase rents by adding in-unit washer/dryers (currently located in basement) • Large attic and basement offering additional build-out potential • Ample rear and off-street parking • Covered front porch overlooking the historic ballfields This property blends stable income with irreplaceable historic character, an ideal acquisition for a seasoned investor or a turnkey 1031 exchange opportunity. Properties with this level of provenance rarely become available. Own a piece of military history while securing reliable returns in one of North Georgia's most distinctive historic corridor

Key facts

• 1,742 sq ft lot
• Built 1915
• Listed 115 days

Tags

• ZONED R-3 RESIDENTIAL
• LARGE ATTIC AND BASEMENT

What this means for you Summary

Snapshot

• This is a 4×1bd/1ba + 3×?bd/1ba units multifamily listed at $795k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-594 ($-7k/yr) — negative. Per door: $-85/mo.
• To cash-flow at today's rent, offer at most $709k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $620k (22.0% below list).
• Recommended offer: $620k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.4% in Fort Oglethorpe — 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 67/100 on livability (#166 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Catoosa County (suburban): math 36% / reading 41% proficiency, ranked #49 of 174 in GA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 848 units permitted in Catoosa County in 2024 (256 in 5+ unit buildings).
• At $6,202/mo this rent would consume 151% of the median local household income ($49k/yr) (locally 267% 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 $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• Catoosa County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($723k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $620,200 (22.0% 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. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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?
10. 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.
11. 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.
12. 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: 0.78% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• GRM: 10.7

CMA / ARV

• ARV (median comp): $309,418
• List price: $795,000
• Delta: 156.93%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.6%
• Equity multiple: 0.25×
• Total profit: $-166,594
• Equity at exit: $118,537

10-year hold

• IRR: -15.3%
• Equity multiple: 0.13×
• Total profit: $-193,441
• Equity at exit: $68,737

Cash invested: $222,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30742

• Home prices YoY: -17.6%
• Active inventory: 59
• Price-to-rent: 75.5×

Monthly cashflow live

• Estimated rent: $6,202 medium
• Mortgage (P&I): −$4,169
• Tax est. 1.5%: −$994 /mo · $11,925/yr
• Insurance: −$331
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,302
• Net cashflow: $-594

Break-even live

Break-even rent $6,955

Max offer price $708,977

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,508
▸ 3× units	0	1	$2,691
Total (7 units)			$6,202

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $795,000 Active 115 DOM
2. 2026-06-17
   days on market $795,000 Active 114 DOM
3. 2026-06-16
   days on market $795,000 Active 113 DOM
4. 2026-06-15
   days on market $795,000 Active 112 DOM
5. 2026-06-14
   days on market $795,000 Active 110 DOM
6. 2026-06-10
   days on market $795,000 Active 107 DOM
7. 2026-06-09
   days on market $795,000 Active 106 DOM
8. 2026-06-08
   days on market $795,000 Active 105 DOM
9. 2026-06-07
   days on market $795,000 Active 104 DOM
10. 2026-06-03
    days on market $795,000 Active 100 DOM
11. 2026-06-02
    days on market $795,000 Active 99 DOM
12. 2026-06-01
    days on market $795,000 Active 98 DOM
13. 2026-05-31
    days on market $795,000 Active 97 DOM
14. 2026-05-30
    days on market $795,000 Active 96 DOM
15. 2026-02-23
    listed $795,000 Active 1775-char remark

    Show marketing remark (1775 chars)

    Step into living history at 309 Barnhardt Circle, a rare opportunity to own a piece of Fort Oglethorpe's military past. Built in 1915 as the original Band Barracks, this remarkable property once housed 28 members of the post's military band and was electrified in 1920, a modern marvel for its time. The iconic center fields of Barnhardt Circle were historically used for cavalry training and even hosted polo matches, making this location not just historic, but legendary. Today, the property operates as a fully occupied 7-unit multi-family investment featuring: • 4 spacious one-bedroom apartments • 3 charming studio residences • Gross annual rents exceeding $87,500 • Zoned R-3 Residential Positioned steps from the 9,000+ acre Chickamauga Battlefield, this location offers unmatched walkability in one of the area's most sought-after historic districts. Residents enjoy proximity to shopping and dining in Fort Oglethorpe, with convenient access to Rossville and Chickamauga. Investment Highlights: • All units currently occupied with strong tenant demand • Stable cash flow with upside potential • Opportunity to increase rents by adding in-unit washer/dryers (currently located in basement) • Large attic and basement offering additional build-out potential • Ample rear and off-street parking • Covered front porch overlooking the historic ballfields This property blends stable income with irreplaceable historic character, an ideal acquisition for a seasoned investor or a turnkey 1031 exchange opportunity. Properties with this level of provenance rarely become available. Own a piece of military history while securing reliable returns in one of North Georgia's most distinctive historic corridor

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 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: $74,424
• − Mortgage interest: −$44,532
• − Property taxes: −$11,925
• − Insurance: −$3,975
• − Repairs & maintenance: −$5,954
• − Management: −$5,954
• − Depreciation: −$23,127
• Taxable loss: −$21,043
• Est. tax savings @ 24.0%: +$5,050
• After-tax cash flow: $-2,083/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with a well-maintained exterior and interior. It has a good potential for value increase with minor cosmetic updates.

Value-add opportunities

• Both Paint the exterior trim — Painting the exterior trim can enhance the curb appeal and increase the property's value.
• Both Inspect and clean the gutters — Regular maintenance of gutters can prevent water damage and improve the property's overall appearance.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior trim — Painting the exterior trim can enhance the curb appeal and increase the property's value. ↑
• Both Inspect and clean the gutters — Regular maintenance of gutters can prevent water damage and improve the property's overall appearance. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Catoosa County
• NCES district ID: 1300930
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 41% ▼ -8.00%
• Median HH income: $48,913
• Composite: 33.13/100
• National rank: #5558
• State rank: #49 of 174 in GA

Livability — Fort Oglethorpe

• Score: 67/100
• State rank: #166
• US rank: #10498

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment D- Housing A+ Health & safety C User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Oglethorpe, GA
• County: Catoosa County · 52,244 people
• City population: 7,745
• Metro: Chattanooga, TN-GA
• Population (ZIP): 7,745
• Household income: $49,323
• Rent vs Own: 63.4% rent · 36.6% own
• Severe rent burden: 267.0

Population outlook (Catoosa County) Hauer SSP2

• Today (2025): 70,112 people
• By 2030: 71,621 · +2.2%
• By 2040: 73,595 · +5.0%
• By 2050: 73,921 · +5.4%
• By 2075: 72,135 · +2.9%
• By 2100: 65,979 · -5.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Asian 5% Black 4% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 6% Italian 5% Iranian 4%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Other Indo-European 3% Russian/Polish/Slavic 1% Vietnamese 1%

Political lean MEDSL · Catoosa

• 2024 margin: Solid R (+55.5) · D 22.0% · R 77.5%
• 2008→2024 swing: -5.7pp toward R · 2008: -49.8pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+56.0 2016: R+60.7 2012: R+52.8 2008: R+49.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.55%
• Current HPI: 283.7516
• Rent YoY: —
• Metro: Chattanooga, TN-GA
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

1 event — show timeline

• 2026-02-23 Listed $795,000 GCAR