512 Appian Way · Red Bank, TN 37415

$250,000

3 bd · 2.0 ba · 1,883 sqft · SingleFamily public records · 4 Days on market

Built 1959 0.33 ac lot Est $346k · 28% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in one of Red Bank's most sought-after areas, this 3-bedroom, 2-bath home offers both convenience and opportunity in a prime location. Just minutes from shopping in Hixson, the attractions of the Tennessee Aquarium, and the dining and nightlife of downtown Chattanooga, you'll love how close everything is while still enjoying a neighborhood feel. Full of character and charm, this home is ready for your personal touch. With a little interior updating, it has the potential to truly shine, making it a great option for buyers looking to customize a home to their style. The property features a level front and backyard, ideal for outdoor enjoyment, entertaining, or pets, along with a back deck for relaxing evenings. A 2-car carport adds everyday convenience and functionality. A great opportunity in a desirable location, come see the potential for yourself!

Key facts

• 0.33 acre lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Lot is landscaped, level, partially paved with few trees (approximately 0.33 acre, 97 x 139.7); Public maintained city street access
• HOA & community: Community pool

Exterior

• Parking: Carport (2 spaces); Concrete driveway; Off-street paved parking
• Utilities: Public water; Public sewer; Electricity connected and available; Sewer connected and available; Water connected and available; Underground utilities; Natural gas not available
• Home design: Single-family house; Two levels; Fixer condition
• Construction: Brick and brick veneer with wood siding; Shingle roof; Block foundation; Finished partial basement
• Exterior features: Rain gutters; Storage; Deck; Covered front porch and patio; Wood partial backyard fencing

Interior

• Kitchen: Refrigerator; Oven / Range (electric, free-standing); Electric cooktop; Plumbed for ice maker; Water heater
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; High-speed internet; Wired for data; Insulated windows with aluminum frames
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in kitchen / main level / laundry room (inside)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $62 ($745/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (14.7% below list).
• Recommended offer: $213k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.5% in Red Bank — 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 72/100 on livability (#33 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, amenities F, commute 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: Alpine Crest Elementary (math 52% / reading 37%, grade F, #164 of 952 statewide, top 19%, 319 students, 0% FRL); Red Bank Middle School (math 14% / reading 13%, grade F, #236 of 333 statewide, top 71%, 535 students, 0% FRL); Red Bank High School (math 8% / reading 37%, grade F, #156 of 332 statewide, top 49%, 824 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 soft (-2.9%/yr); 183 active listings in the ZIP; 13 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).
• This rent runs 36% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $68k; list at $250k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $213,323 (14.7% below list)

Questions for the listing agent

1. Built in 1959 — 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 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?
4. 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?
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 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: 0.85% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $346,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 Marlow Dr	0.11mi	3/1.5	1,680 (-11%)	8mo	$270,000	$161	68
4507 Delashmitt Rd	0.53mi	3/2.0	1,956 (+4%)	7mo	$345,000	$176	63
607 Mountain Wood Dr	0.53mi	3/2.0	1,754 (-7%)	4mo	$230,000	$131	61
4525 E Ravenwood Dr	0.52mi	3/2.0	1,968 (+4%)	20mo	$479,000	$243	52
1306 Vanessa Dr	0.61mi	3/2.0	1,743 (-7%)	13mo	$320,000	$184	48
108 W Daytona Dr	0.67mi	3/3.0	2,030 (+8%)	5mo	$275,000	$135	48
4524 Crestview Dr	0.73mi	3/2.0	1,686 (-10%)	3mo	$255,000	$151	46
1359 Orbit Dr	0.67mi	3/2.0	1,798 (-4%)	20mo	$314,900	$175	44
110 Orlando Dr	0.68mi	4/2.5 (+1)	1,716 (-9%)	4mo	$364,900	$213	43
110 Ormand	0.62mi	3/1.5	1,684 (-11%)	11mo	$339,500	$202	42
941 Sherry Cir	0.58mi	4/3.0 (+1)	2,090 (+11%)	9mo	$420,000	$201	38
113 Ormand Dr	0.58mi	2/1.0 (-1)	1,740 (-8%)	19mo	$327,000	$188	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.39×
• Total profit: $-42,843
• Equity at exit: $37,276

10-year hold

• IRR: -16.7%
• Equity multiple: 0.19×
• Total profit: $-56,509
• Equity at exit: $21,615

Cash invested: $70,000 (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 37415

• Rents YoY: -2.9%
• Active inventory: 183
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$208 /mo · $2,496/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $62

Break-even live

Break-even rent $2,055

Max offer price $250,000

Occupancy floor 92%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
549 Strong Ave Hixson, TN	3.0	2.0	1500	$2,150	$1.43	23d	1	0.13mi
590 Strong Ave Hixson, TN	4.0	2.0	1560	$2,290	$1.47	23d	1	0.16mi
4630 Sherry Ln Hixson, TN	4.0	2.5	1850	$2,095	$1.13	13d	1	0.34mi
120 Passons Rd Chattanooga, TN	4.0	3.0	1670	$2,300	$1.38	23d	1	0.71mi
801 Ely Rd Hixson, TN	3.0	2.0	1323	$1,700	$1.28	21d	1	0.82mi
1300 Highcrest Dr Hixson, TN	3.0	2.5	2183	$2,100	$0.96	13d	1	0.84mi
4805 Dyno Loop Chattanooga, TN	4.0	3.0	2515	$3,050	$1.21	23d	1	0.87mi
106 Flash Way Chattanooga, TN	4.0	2.5	1766	$2,500	$1.42	23d	1	0.90mi
101 Flash Way Chattanooga, TN	4.0	2.5	1766	$2,500	$1.42	23d	1	0.91mi
4705 Metro Park Ln Hixson, TN	2.0	1.0	1844	$1,125	$0.61	23d	1	1.00mi
1407 Cloverdale Cir Hixson, TN	2.0	2.5	1293	$1,623	$1.26	23d	1	1.01mi
1438 Ely Rd Hixson, TN	3.0	2.5	1600	$2,500	$1.56	23d	1	1.17mi
145 Ivy Row Ln Chattanooga, TN	1.0–3.0	1.0–2.0	1074	$1,855	$1.73	13d	4	1.42mi

Listing history 7 events

1. 2026-05-18
   status Pending 869-char remark

   Show marketing remark (869 chars)

   Located in one of Red Bank's most sought-after areas, this 3-bedroom, 2-bath home offers both convenience and opportunity in a prime location. Just minutes from shopping in Hixson, the attractions of the Tennessee Aquarium, and the dining and nightlife of downtown Chattanooga, you'll love how close everything is while still enjoying a neighborhood feel. Full of character and charm, this home is ready for your personal touch. With a little interior updating, it has the potential to truly shine, making it a great option for buyers looking to customize a home to their style. The property features a level front and backyard, ideal for outdoor enjoyment, entertaining, or pets, along with a back deck for relaxing evenings. A 2-car carport adds everyday convenience and functionality. A great opportunity in a desirable location, come see the potential for yourself!

2. 2026-05-18
   status Pending

   Show marketing remark (869 chars)

   Located in one of Red Bank's most sought-after areas, this 3-bedroom, 2-bath home offers both convenience and opportunity in a prime location. Just minutes from shopping in Hixson, the attractions of the Tennessee Aquarium, and the dining and nightlife of downtown Chattanooga, you'll love how close everything is while still enjoying a neighborhood feel. Full of character and charm, this home is ready for your personal touch. With a little interior updating, it has the potential to truly shine, making it a great option for buyers looking to customize a home to their style. The property features a level front and backyard, ideal for outdoor enjoyment, entertaining, or pets, along with a back deck for relaxing evenings. A 2-car carport adds everyday convenience and functionality. A great opportunity in a desirable location, come see the potential for yourself!

3. 2026-05-14
   listed $250,000 Active
4. 2026-04-21
   price $250,000
5. 2026-04-21
   historical $228,500
6. 2026-04-20
   listed $250,000 Active 869-char remark

   Show marketing remark (869 chars)

   Located in one of Red Bank's most sought-after areas, this 3-bedroom, 2-bath home offers both convenience and opportunity in a prime location. Just minutes from shopping in Hixson, the attractions of the Tennessee Aquarium, and the dining and nightlife of downtown Chattanooga, you'll love how close everything is while still enjoying a neighborhood feel. Full of character and charm, this home is ready for your personal touch. With a little interior updating, it has the potential to truly shine, making it a great option for buyers looking to customize a home to their style. The property features a level front and backyard, ideal for outdoor enjoyment, entertaining, or pets, along with a back deck for relaxing evenings. A 2-car carport adds everyday convenience and functionality. A great opportunity in a desirable location, come see the potential for yourself!

7. 1994-04-20
   soldstatus $67,900

ⓘ 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: $2,496 · $208/mo
• Projected year-2 tax: $2,496 · $208/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 6/10 Major 8 d/yr ≥105°F today · 21 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: $25,599
• − Mortgage interest: −$14,004
• − Property taxes: −$2,496
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$7,273
• Taxable loss: −$3,520
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $1,589/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 — Red Bank

• Score: 72/100
• State rank: #33
• US rank: #6088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Bank, TN
• County: Hamilton County · 312,777 people
• City population: 42,290
• Metro: Chattanooga, TN-GA
• Population (ZIP): 24,181
• Household income: $70,972
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 882.0

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 White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Tagalog/Filipino 1% French/Haitian/Cajun 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: ▼ -229.83%
• Current HPI: 272.075
• Rent YoY: ▼ -2.85%
• 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

+268.2% since first listed

7 events — show timeline

• 2026-05-18 Pending — RCAOR
• 2026-05-18 Pending — GCAR
• 2026-05-14 Listed $250,000 GCAR
• 2026-04-21 Price Changed $250,000 GCAR
• 2026-04-21 Coming Soon $228,500 GCAR
• 2026-04-20 Listed $250,000 RCAOR
• 1994-04-20 Sold (Public Records) $67,900 Public Records

Property tax history

+6.1%/yr

Latest (2025): $2,496 · +5.8% YoY. Source: county tax records.