3333 Walters Springs Rd NW Unit 13c · Cleveland, TN 37312

$254,500

4 bd · 3.5 ba · 1,397 sqft · Condo · 85 Days on market

Built 2025 Excellent condition $13/mo HOA · 1% of rent

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Three Creeks Townhomes - a beautifully designed community featuring brand-new craftsman-style construction with upscale finishes throughout. This 4-bedroom, 3.5-bath townhome offers the perfect blend of comfort and convenience, with two of the bedrooms featuring private en-suites. The gourmet kitchen boasts custom cabinetry, granite countertops, and sleek stainless steel appliances--ideal for everyday living and entertaining. Step out back to your private deck, perfect for grilling or relaxing with friends. This one-of-a-kind neighborhood includes unique amenities such as a private bus stop, dedicated dog park, and sidewalk-lined streets perfect for evening strolls and added peace of mind. Each unit also includes a walk-in crawl space, providing generous additional storage. Conveniently located for easy access to Chattanooga and just minutes from the heart of downtown, Three Creeks Townhomes is the perfect home for commuters, professionals, and anyone seeking stylish low-maintenance living in a vibrant community.

Key facts

• Custom cabinetry
• Gourmet kitchen
• Granite countertops

Tags

• CRAFTSMAN STYLE CONSTRUCTION
• PRIVATE EN SUITES
• GOURMET KITCHEN
• CUSTOM CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES

🏗️ New construction. The $254,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $256,325.

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $254k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-265 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (24.4% below list).
• Recommended offer: $192k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.6% in Cleveland — 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 70/100 on livability (#55 in TN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, crime F, amenities F.
• Bradley County (other): math 35% / reading 34% proficiency, ranked #33 of 139 in TN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prospect Elementary School (math 37% / reading 37%, grade F, #272 of 952 statewide, top 31%, 396 students, 0% FRL); Ocoee Middle School (math 32% / reading 33%, grade F, #81 of 333 statewide, top 26%, 997 students, 0% FRL); Walker Valley High School (math 32% / reading 47%, grade F, #28 of 332 statewide, top 9%, 1,498 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 670 active listings in the ZIP; solid renter incomes; 768 units permitted in Bradley County in 2024 (0 in 5+ unit buildings).

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.
• Bradley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($239k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $192,296 (24.4% 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 85 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.75% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.44%
• DSCR: 0.80
• GRM: 11.1

CMA / ARV

• ARV (median comp): $256,325
• List price: $254,500
• Delta: -0.71%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3331 Walters Springs Rd NW	0.01mi	4/3.5	1,397 (0%)	2mo	$254,500	$182	98
3335 Walters Springs Rd NW Unit 13b	0.00mi	4/3.5	1,397 (0%)	3mo	$254,500	$182	97
3335 Walters Springs Rd NW	0.26mi	4/3.5	1,397 (0%)	3mo	$254,500	$182	85
2308 Raines Dr NW	0.27mi	3/2.0 (-1)	1,300 (-7%)	3mo	$187,000	$144	62
204 Crystal View Dr NW	0.43mi	3/3.0 (-1)	1,478 (+6%)	1mo	$365,000	$247	62
2636 Willow Run Trl NW	0.62mi	3/2.0 (-1)	1,500 (+7%)	2mo	$379,900	$253	46
631 Harris Creek Trl SW	1.41mi	3/2.0 (-1)	1,672 (+20%)	1mo	$341,500	$204	28
3033 Discovery Dr NW	1.45mi	3/2.0 (-1)	1,697 (+22%)	3mo	$410,000	$242	27
3033 Discovery Dr NW #36	1.45mi	3/2.0 (-1)	1,697 (+22%)	3mo	$410,000	$242	27
3033 Discovery Dr NW #36	1.45mi	3/2.0 (-1)	1,697 (+22%)	3mo	$410,000	$242	27
3057 Discovery Dr NW	1.46mi	3/2.0 (-1)	1,691 (+21%)	3mo	$385,124	$228	26
3057 Discovery Dr NW Unit Site 31	1.46mi	3/2.0 (-1)	1,691 (+21%)	4mo	$385,124	$228	26

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 · 0.15% rent growth · sell at horizon

5-year hold

• IRR: -27.0%
• Equity multiple: 0.11×
• Total profit: $-63,755
• Equity at exit: $38,219

10-year hold

• IRR: -39.1%
• Equity multiple: -0.36×
• Total profit: $-97,903
• Equity at exit: $22,162

Cash invested: $71,771 (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 37312

• Rents YoY: 0.1%
• Active inventory: 670
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,923 medium
• Mortgage (P&I): −$1,344
• Tax est. 1.5%: −$320 /mo · $3,845/yr
• Insurance: −$107
• HOA: −$13
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $-265

Break-even live

Break-even rent $2,259

Max offer price $217,941

Occupancy floor —

Sensitivity live

Price	-10% $-88	-5% $-177	+0% $-265	+5% $-354	+10% $-442
Rent	-10% $-417	-5% $-341	+0% $-265	+5% $-189	+10% $-113
Rate	-1.0pp $-136	-0.5pp $-200	base $-265	+0.5pp $-332	+1.0pp $-399

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: $64,081
• Closing costs: $7,690
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• HOA & community: Homeowners association with grounds maintenanceAnnual HOA fee $150 (about $12.50/month)Community sidewalks and street lights

Exterior

• Parking: Concrete drivewayKitchen-level parking
• Security: Smoke detectors
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connectedCable availablePhone availableUnderground utilities
• Home design: TownhouseTwo-storyNew construction
• Construction: Brick veneer and HardiPlank exteriorShingle roofPermanent foundationBuilt as new construction
• Exterior features: BalconyBack yardZero lot lineAsphalt road accessPublic maintained roadCity street frontage

Interior

• Kitchen: Plumbed for ice makerMicrowaveFree-standing rangeDishwasher
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tileVinyl
• Bathrooms: 3 full bathrooms1 half bathroom
• Heating & cooling: Central heating (electric)Central airCeiling fans
• Interior features: Ceiling fansDouble vanityGranite countersOpen floorplanWalk-in closetsInsulated windows

HOA detail $13/mo · $156/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $254,500 Active 85 DOM
2. 2026-08-07
   days on market $254,500 Active 84 DOM
3. 2026-08-06
   days on market $254,500 Active 83 DOM
4. 2026-08-05
   days on market $254,500 Active 82 DOM
5. 2026-08-04
   days on market $254,500 Active 81 DOM
6. 2026-08-03
   days on market $254,500 Active 80 DOM
7. 2026-07-31
   days on market $254,500 Active 77 DOM
8. 2026-07-29
   days on market $254,500 Active 75 DOM
9. 2026-07-27
   days on market $254,500 Active 73 DOM
10. 2026-07-25
    days on market $254,500 Active 71 DOM
11. 2026-07-24
    days on market $254,500 Active 70 DOM
12. 2026-07-23
    days on market $254,500 Active 69 DOM
13. 2026-07-22
    days on market $254,500 Active 68 DOM
14. 2026-07-21
    days on market $254,500 Active 67 DOM
15. 2026-07-18
    days on market $254,500 Active 64 DOM
16. 2026-07-16
    days on market $254,500 Active 62 DOM
17. 2026-07-16
    days on market $254,500 Active 61 DOM
18. 2026-07-14
    days on market $254,500 Active 60 DOM
19. 2026-07-13
    days on market $254,500 Active 59 DOM
20. 2026-07-12
    days on market $254,500 Active 58 DOM
21. 2026-07-11
    days on market $254,500 Active 57 DOM
22. 2026-07-10
    days on market $254,500 Active 56 DOM
23. 2026-07-09
    days on market $254,500 Active 55 DOM
24. 2026-07-08
    days on market $254,500 Active 54 DOM
25. 2026-07-07
    days on market $254,500 Active 53 DOM
26. 2026-07-06
    days on market $254,500 Active 52 DOM
27. 2026-07-05
    days on market $254,500 Active 51 DOM
28. 2026-07-04
    days on market $254,500 Active 50 DOM
29. 2026-07-03
    days on market $254,500 Active 49 DOM
30. 2026-07-02
    days on market $254,500 Active 48 DOM
31. 2026-07-01
    days on market $254,500 Active 47 DOM
32. 2026-06-30
    days on market $254,500 Active 46 DOM
33. 2026-06-29
    days on market $254,500 Active 45 DOM
34. 2026-06-28
    days on market $254,500 Active 44 DOM
35. 2026-06-28
    days on market $254,500 Active 43 DOM
36. 2026-06-27
    days on market $254,500 Active 42 DOM
37. 2026-06-26
    days on market $254,500 Active 41 DOM
38. 2026-06-23
    days on market $254,500 Active 38 DOM
39. 2026-06-21
    days on market $254,500 Active 37 DOM
40. 2026-06-19
    days on market $254,500 Active 35 DOM
41. 2026-06-18
    days on market $254,500 Active 34 DOM
42. 2026-06-17
    days on market $254,500 Active 33 DOM
43. 2026-06-16
    days on market $254,500 Active 32 DOM
44. 2026-06-15
    days on market $254,500 Active 31 DOM
45. 2026-06-14
    days on market $254,500 Active 29 DOM
46. 2026-06-13
    days on market $254,500 Active 28 DOM
47. 2026-06-10
    days on market $254,500 Active 26 DOM
48. 2026-06-09
    days on market $254,500 Active 25 DOM
49. 2026-06-08
    days on market $254,500 Active 24 DOM
50. 2026-06-07
    days on market $254,500 Active 23 DOM

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

Taxation est. · year 1

• Rental income: $23,076
• − Mortgage interest: −$14,358
• − Property taxes: −$3,845
• − Insurance: −$1,282
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − HOA: −$156
• − Depreciation: −$7,457
• Taxable loss: −$7,714
• Est. tax savings @ 24.0%: +$1,851
• After-tax cash flow: $-1,332/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 · 30 photos

Excellent 100/100 None rehab

This brand-new townhome is move-in ready with excellent condition and no repairs needed. It offers a perfect blend of comfort and convenience, making it ideal for both resale and rental.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Furniture — Improves the home's livability and appeal ↑
• Both Decor — Enhances the home's aesthetic and appeal ↑

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Candy's Creek Cherokee Elementary School D- TN #158/952 Nat'l #15,897/41,679 Middle Cleveland Middle F TN #147/333 Nat'l #10,204/14,009 High Cleveland High F TN #208/332 Nat'l #14,713/17,239

Schools (NCES district)

• District: Bradley County
• NCES district ID: 4700330
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $45,807
• Composite: 29.54/100
• National rank: #6494
• State rank: #33 of 139 in TN

B Composite livability gradescore 70/100

Livability — Cleveland

• Score: 70/100
• State rank: #55
• US rank: #7689

Category grades

Amenities F Commute F 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

• County: Bradley County · 114,901 people
• City population: 99,337
• Metro: Cleveland, TN
• Population (ZIP): 36,669
• Household income: $78,261
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 11% of renters

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Population outlook (Bradley County) Hauer SSP2

• Today (2025): 114,901 people
• By 2030: 120,137 · +4.6%
• By 2040: 130,125 · +13.2%
• By 2050: 139,257 · +21.2%
• By 2075: 161,664 · +40.7%
• By 2100: 179,767 · +56.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 6% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 1%

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Political lean MEDSL · Bradley

• 2024 margin: Solid R (+58.9) · D 20.0% · R 78.9% · Other 1.1%
• 2008→2024 swing: -9.2pp toward R · 2008: -49.7pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+55.3 2016: R+59.1 2012: R+53.9 2008: R+49.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.27%
• Current HPI: 260.8746
• Rent YoY: ▲ 0.15%
• Metro: Cleveland, TN
• State GDP YoY: ▲ 2.78%
• F500 in state: 22

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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

Property features AI

Finance

• HOA & community: Homeowners association with grounds maintenanceAnnual HOA fee $150 (about $12.50/month)Community sidewalks and street lights

Exterior

• Parking: Concrete drivewayKitchen-level parking
• Security: Smoke detectors
• Utilities: Public waterPublic sewerElectricity connectedWater connectedSewer connectedCable availablePhone availableUnderground utilities
• Home design: TownhouseTwo-storyNew construction
• Construction: Brick veneer and HardiPlank exteriorShingle roofPermanent foundationBuilt as new construction
• Exterior features: BalconyBack yardZero lot lineAsphalt road accessPublic maintained roadCity street frontage

Interior

• Kitchen: Plumbed for ice makerMicrowaveFree-standing rangeDishwasher
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tileVinyl
• Bathrooms: 3 full bathrooms1 half bathroom
• Heating & cooling: Central heating (electric)Central airCeiling fans
• Interior features: Ceiling fansDouble vanityGranite countersOpen floorplanWalk-in closetsInsulated windows

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-15 Listed $254,500 GCAR
• 2026-05-15 Listed $254,500 RCAOR