2723 Glass St · Chattanooga, TN 37406

$35,000

6 bd · None ba · 1,846 sqft · Land · 36 Days on market

Built 1973

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +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 MLS

Attention builders, investors, and developers interested in investing in an up and coming area. 2723 Glass St is a 55.6 x 119 lot cleared and ready to build, ideal for a new construction home or investment property. Don't miss your chance to be a part of the Glass Street revitalization. Call today for your private showing!

Key facts

• Built 1973
• Listed 36 days

Property features AI

Exterior

• Home design: Built in 1973; Single-family property
• Construction: Constructed in 1973
• Exterior features: Located in the East Chattanooga Neighborhood Association

What this means for you Summary

Snapshot

• This is a 6-bed/?-bath land listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 50.2% 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+, schools F, 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.
• Market conditions: Rents rising fast (+5.1%/yr); 127 active listings in the ZIP; lower-income renter base — watch delinquency; 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).
• At $1,885/mo this rent would consume 50% of the median local household income ($45k/yr) (locally 759% 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $12k; list at $35k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 5.38% ✓
• Cap rate: 50.24%
• Cash-on-cash: 156.94%
• DSCR: 7.98
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.17×
• Total profit: $80,093
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 20.65×
• Total profit: $192,568
• Equity at exit: $3,026

Cash invested: $9,800 (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: 127
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$9 /mo · $109/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $1,282

Break-even live

Break-even rent $262

Max offer price $35,000

Occupancy floor 27%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $35,000 Active 36 DOM
2. 2026-06-17
   days on market $35,000 Active 35 DOM
3. 2026-06-16
   days on market $35,000 Active 34 DOM
4. 2026-06-15
   days on market $35,000 Active 33 DOM
5. 2026-06-14
   days on market $35,000 Active 31 DOM
6. 2026-06-10
   days on market $35,000 Active 28 DOM
7. 2026-06-09
   days on market $35,000 Active 27 DOM
8. 2026-06-08
   days on market $35,000 Active 26 DOM
9. 2026-06-07
   days on market $35,000 Active 25 DOM
10. 2026-06-05
    days on market $35,000 Active 22 DOM
11. 2026-06-03
    days on market $35,000 Active 21 DOM
12. 2026-06-02
    days on market $35,000 Active 20 DOM
13. 2026-06-01
    days on market $35,000 Active 19 DOM
14. 2026-05-31
    days on market $35,000 Active 18 DOM
15. 2026-05-30
    days on market $35,000 Active 17 DOM
16. 2026-05-14
    listed $35,000 Active
17. 2019-07-08
    soldstatus $11,500
18. 2019-06-27
    soldstatus $11,500 Closed 324-char remark

    Show marketing remark (324 chars)

    Attention builders, investors, and developers interested in investing in an up and coming area. 2723 Glass St is a 55.6 x 119 lot cleared and ready to build, ideal for a new construction home or investment property. Don't miss your chance to be a part of the Glass Street revitalization. Call today for your private showing!

19. 2019-06-27
    soldstatus $11,500 324-char remark

    Show marketing remark (324 chars)

    Attention builders, investors, and developers interested in investing in an up and coming area. 2723 Glass St is a 55.6 x 119 lot cleared and ready to build, ideal for a new construction home or investment property. Don't miss your chance to be a part of the Glass Street revitalization. Call today for your private showing!

20. 2019-06-11
    historical 324-char remark

    Show marketing remark (324 chars)

    Attention builders, investors, and developers interested in investing in an up and coming area. 2723 Glass St is a 55.6 x 119 lot cleared and ready to build, ideal for a new construction home or investment property. Don't miss your chance to be a part of the Glass Street revitalization. Call today for your private showing!

21. 2019-06-05
    listed Contingent 324-char remark

    Show marketing remark (324 chars)

    Attention builders, investors, and developers interested in investing in an up and coming area. 2723 Glass St is a 55.6 x 119 lot cleared and ready to build, ideal for a new construction home or investment property. Don't miss your chance to be a part of the Glass Street revitalization. Call today for your private showing!

22. 2019-06-05
    listed $25,000 324-char remark

    Show marketing remark (324 chars)

    Attention builders, investors, and developers interested in investing in an up and coming area. 2723 Glass St is a 55.6 x 119 lot cleared and ready to build, ideal for a new construction home or investment property. Don't miss your chance to be a part of the Glass Street revitalization. Call today for your private showing!

23. 2006-10-26
    soldstatus $70,000
24. 2002-08-22
    soldstatus $53,000
25. 1999-07-15
    soldstatus $24,750
26. 1991-01-24
    soldstatus $22,938

ⓘ 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: $109 · $9/mo
• Projected year-2 tax: $249 · $21/mo
• Expected delta: +$139/yr (+$12/mo · 127.7%)

ⓘ 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 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $22,617
• − Mortgage interest: −$1,961
• − Property taxes: −$109
• − Insurance: −$175
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$1,018
• Taxable income: $15,735
• Est. tax owed @ 24.0%: −$3,776
• After-tax cash flow: $11,604/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

+52.6% since first listed

11 events — show timeline

• 2026-05-14 Listed $35,000 FSBO.com
• 2019-07-08 Sold (Public Records) $11,500 Public Records
• 2019-06-27 Sold (MLS) $11,500 REALTRACS as Distributed by MLS Grid
• 2019-06-27 Sold (MLS) $11,500 GCAR
• 2019-06-11 Delisted — GCAR
• 2019-06-05 Listed $25,000 GCAR
• 2019-06-05 Listed — GCAR
• 2006-10-26 Sold (Public Records) $70,000 Public Records
• 2002-08-22 Sold (Public Records) $53,000 Public Records
• 1999-07-15 Sold (Public Records) $24,750 Public Records
• 1991-01-24 Sold (Public Records) $22,938 Public Records

Property tax history

+12.4%/yr

Latest (2025): $109 · +187.0% YoY. Source: county tax records.