2817 Morgan Ave · Chattanooga, TN 37404

$98,680

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 110 Days on market

Built 1950 7,000 sqft lot Est $185k · 47% 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 +9.0/10.0
• 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

This is a two-bedroom, one bath ranch home, is a great investment property with a long-term tenant. Being sold as is.

Key facts

• 7,000 sq ft lot
• Built 1950
• Listed 109 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation; Shingle roof; Built area above grade: 864
• Exterior features: Level lot; Paved city street frontage; Publicly maintained road

Interior

• Kitchen: Refrigerator; Free‑standing electric range; Free‑standing electric oven
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Eat-in kitchen

🏷️ Possibly a rental listed for sale. The $98,680 price doesn't fit this home's estimated sale value (~$184,896) 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 $99k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Hixson Elementary (math 24% / reading 20%, grade F, #601 of 952 statewide, top 66%, 402 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.
• Market conditions: Rents flat; 167 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $682 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 + 0.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,798 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.40% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.02%
• DSCR: 1.98
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $184,896
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 E 35th St	0.75mi	3/1.0 (+1)	832 (-4%)	1mo	$178,000	$214	53
2910 Faxon St	0.42mi	2/1.0	768 (-11%)	11mo	$134,800	$176	53

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 · 0.03% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.29×
• Total profit: $8,056
• Equity at exit: $14,714

10-year hold

• IRR: 14.3%
• Equity multiple: 2.00×
• Total profit: $27,630
• Equity at exit: $8,532

Cash invested: $27,630 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$517
• Tax from tax record: −$27 /mo · $329/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $441

Break-even live

Break-even rent $826

Max offer price $98,680

Occupancy floor 63%

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: $24,670
• Closing costs: $2,960
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1503 E 18th St Chattanooga, TN	2.0	1.0	624	$1,150	$1.84	23d	1	0.88mi
3603 Dorris St Chattanooga, TN	2.0	1.0	700	$825	$1.18	23d	1	0.88mi
3605 Dorris St Chattanooga, TN	2.0	1.0	700	$825	$1.18	23d	1	0.89mi
2100 Rossville Ave Chattanooga, TN	1.0–2.0	1.0–2.0	1140	$2,199	$1.93	13d	13	0.90mi
3713 Dorris St Chattanooga, TN	3.0	1.0	974	$1,025	$1.05	13d	1	0.98mi
1603 Fagan St #202 Chattanooga, TN	2.0	2.0	1048	$1,875	$1.79	23d	1	1.07mi
1603 Fagan St Chattanooga, TN	2.0	2.0	1048	$1,895	$1.81	23d	1	1.07mi
2001 S Lyerly St Chattanooga, TN	2.0–3.0	2.0	1080	$1,200	$1.11	13d	6	1.11mi
900 E Main St Chattanooga, TN	1.0–2.0	1.0–2.0	752	$1,845	$2.45	21d	16	1.15mi
1445 Fagan St Chattanooga, TN	1.0	1.0	803	$1,300	$1.62	13d	1	1.17mi
901 E Main St Chattanooga, TN	2.0	1.0	710	$1,290	$1.82	13d	1	1.17mi
4129 Quinn Adams St Unit 2 Chattanooga, TN	2.0	1.0	856	$1,050	$1.23	23d	1	1.19mi
4113 Dorris St Apt B Chattanooga, TN	2.0	1.0	750	$950	$1.27	23d	1	1.21mi
2605 Carr St Apt A Chattanooga, TN	2.0	1.0	850	$1,600	$1.88	23d	1	1.23mi
1133 Bexley Sq Chattanooga, TN	3.0	1.0–2.0	913	$2,134	$2.34	13d	22	1.24mi
614 E Main St #205 Chattanooga, TN	1.0	1.0	650	$1,500	$2.31	23d	1	1.25mi
3818 Chandler Ave Chattanooga, TN	2.0	1.5	900	$1,450	$1.61	13d	1	1.26mi
614 E Main St Chattanooga, TN	1.0	1.0	1050	$1,675	$1.60	23d	1	1.26mi
1703 S Lyerly St Chattanooga, TN	2.0	1.0	700	$1,199	$1.71	13d	1	1.27mi
1812 E 13th St Unit B Chattanooga, TN	2.0	1.0	800	$1,065	$1.33	23d	1	1.27mi
623 E Main St Unit 105 Chattanooga, TN	1.0	1.0	537	$1,280	$2.38	23d	1	1.27mi
623 E Main St Apt 205 Chattanooga, TN	1.0	1.0	573	$1,350	$2.36	13d	1	1.27mi
1530 Adams St Chattanooga, TN	1.0	1.0	930	$2,000	$2.15	21d	1	1.30mi
2417 13th Ave Chattanooga, TN	2.0	1.0	950	$1,150	$1.21	23d	1	1.31mi
2609 14th Ave Unit 3 Chattanooga, TN	1.0	1.0	616	$850	$1.38	23d	1	1.35mi
3609 Carl White Pl Chattanooga, TN	2.0	1.0	1100	$799	$0.73	23d	1	1.37mi
2602 14th Ave Unit B Chattanooga, TN	2.0	1.0	700	$1,050	$1.50	23d	1	1.37mi
1711 Read Ave Unit A Chattanooga, TN	3.0	1.5	1010	$1,700	$1.68	21d	1	1.38mi
2400 15th Ave Unit 336 Chattanooga, TN	1.0	1.0	625	$950	$1.52	23d	1	1.38mi
2903 15th Ave Chattanooga, TN	2.0	1.5	1100	$1,450	$1.32	23d	1	1.38mi
245 W 26th St Chattanooga, TN	1.0	1.0	750	$1,285	$1.71	13d	21	1.38mi
1818 Dodds Ave Chattanooga, TN	2.0	1.0	1036	$1,099	$1.06	13d	1	1.39mi
2612 E 19th St Chattanooga, TN	2.0	1.0	900	$1,150	$1.28	23d	1	1.40mi
3114 14th Ave Apt A Chattanooga, TN	1.0	1.0	800	$950	$1.19	23d	1	1.41mi
2318 E Main St Chattanooga, TN	2.0	2.0	1000	$1,515	$1.51	13d	1	1.43mi
2904 E 37th St Chattanooga, TN	1.0	1.0	800	$850	$1.06	23d	1	1.44mi
3059 Saint Elmo Ave Chattanooga, TN	1.0	2.0	1104	$1,450	$1.31	23d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $98,680 Active 110 DOM
2. 2026-06-17
   days on market $98,680 Active 109 DOM
3. 2026-06-16
   days on market $98,680 Active 108 DOM
4. 2026-06-15
   days on market $98,680 Active 107 DOM
5. 2026-06-14
   days on market $98,680 Active 105 DOM
6. 2026-06-10
   statusdays on market $98,680 Active 102 DOM
7. 2026-06-01
   status $98,680 Pending 101 DOM
8. 2026-05-31
   days on market $98,680 Active 101 DOM
9. 2026-05-30
   days on market $98,680 Active 100 DOM
10. 2026-04-07
    price $98,680
11. 2026-02-19
    listed $103,680 Active
12. 2013-07-15
    soldstatus $3,727,608
13. 2011-05-02
    soldstatus $300,900
14. 2005-07-07
    soldstatus $203,000
15. 2004-10-18
    listed $55,000
16. 2004-05-15
    listed $45,000
17. 2004-03-23
    soldstatus $19,824

ⓘ 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: $329 · $27/mo
• Projected year-2 tax: $701 · $58/mo
• Expected delta: +$372/yr (+$31/mo · 113.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 20 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: $16,603
• − Mortgage interest: −$5,528
• − Property taxes: −$329
• − Insurance: −$1,291
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$2,871
• Taxable income: $3,928
• Est. tax owed @ 24.0%: −$943
• After-tax cash flow: $4,344/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

+397.8% since first listed

8 events — show timeline

• 2026-04-07 Price Changed $98,680 GCAR
• 2026-02-19 Listed $103,680 GCAR
• 2013-07-15 Sold (Public Records) $3,727,608 Public Records
• 2011-05-02 Sold (Public Records) $300,900 Public Records
• 2005-07-07 Sold (Public Records) $203,000 Public Records
• 2004-10-18 Listed $55,000 RCAOR
• 2004-05-15 Listed $45,000 RCAOR
• 2004-03-23 Sold (Public Records) $19,824 Public Records

Property tax history

+4.7%/yr

Latest (2025): $329 · +56.4% YoY. Source: county tax records.