1408 Prospect Rd · Chickamauga, GA 30707

$185,000

3 bd · 1.5 ba · 1,082 sqft · SingleFamily public records · 49 Days on market

Built 1974 0.76 ac lot $171/sqft · 27% above area Est $227k · 18% under ↓ 8% since listing

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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 +9.6/30.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors or first time homebuyers unlock the potential of your dream home with NO HOA the major upgrades are already done for you, including a newer roof, HVAC, plumbing, and septic system with new field lines, giving you peace of mind from day one. With just a little TLC, this multi-level home can truly look amazing-offering space, upgrades, and endless possibilities. Step inside to discover 3 spacious bedrooms, 2 full baths, and a versatile unfinished basement complete with its own entrance and central heating and air and an extra heater in the window which can be removed -perfect for expansion, rental potential, or a private retreat. Enjoy seamless living and entertaining with an inviting family room and kitchen layout, while the oversized backyard is your blank canvas- imagine your garden, fire pit, trampoline for kids or you can create your dream outdoor oasis. Perfectly located only minutes to Gordon Lee Schools and downtown Chickamauga and an easy 30-35 minute drive to Chattanooga. Don't miss this opportunity to create something truly special-schedule your showing today and bring your vision to life!

Key facts

• Plumbing
• Hvac
• Newer roof

Tags

• NEWER ROOF
• HVAC
• PLUMBING
• SEPTIC SYSTEM
• UNFINISHED BASEMENT
• OVERSIZED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (21.1% below list).
• Recommended offer: $146k (21.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.4% in Chickamauga — 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 68/100 on livability (#133 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Walker County (rural): math 25% / reading 29% proficiency, ranked #114 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 160 active listings in the ZIP; 347 units permitted in Walker County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Walker County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $146,047 (21.1% 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 49 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.79% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.89%
• DSCR: 0.87
• GRM: 10.6

CMA / ARV

• ARV (median comp): $226,728
• List price: $185,000
• Delta: -18.40%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1114 Prospect Rd	0.19mi	3/1.0	1,236 (+14%)	14mo	$269,000	$218	54
697 Newt Johnson Rd	0.63mi	3/1.0	1,224 (+13%)	8mo	$165,000	$135	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.20×
• Total profit: $-41,403
• Equity at exit: $27,584

10-year hold

• IRR: -17.9%
• Equity multiple: 0.02×
• Total profit: $-50,608
• Equity at exit: $15,995

Cash invested: $51,800 (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 30707

• Home prices YoY: -18.9%
• Active inventory: 160
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,460 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-180

Break-even live

Break-even rent $1,689

Max offer price $158,916

Occupancy floor —

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-10
   status $185,000 Pending 49 DOM
2. 2026-06-09
   days on market $185,000 Active 49 DOM
3. 2026-06-08
   days on market $185,000 Active 48 DOM
4. 2026-06-07
   days on market $185,000 Active 47 DOM
5. 2026-06-05
   days on market $185,000 Active 44 DOM
6. 2026-06-03
   days on market $185,000 Active 43 DOM
7. 2026-06-02
   days on market $185,000 Active 42 DOM
8. 2026-06-01
   days on market $185,000 Active 41 DOM
9. 2026-05-31
   days on market $185,000 Active 40 DOM
10. 2026-05-30
    days on market $185,000 Active 39 DOM
11. 2026-04-21
    listed $185,000 New 1138-char remark

    Show marketing remark (1177 chars)

    Calling all investors or first time homebuyers unlock the potential of your dream home with NO HOA the major upgrades are already done for you, including a newer roof, HVAC, plumbing, and septic system with new field lines, giving you peace of mind from day one. With just a little TLC, this multi-level home can truly look amazing—offering space, upgrades, and endless possibilities. Step inside to discover 3 spacious bedrooms, 2 full baths, and a versatile unfinished basement complete with its own entrance and central heating and air and an extra heater in the window which can be removed —perfect for expansion, rental potential, or a private retreat. Enjoy seamless living and entertaining with an inviting family room and kitchen layout, while the oversized backyard is your blank canvas— imagine your garden, fire pit, trampoline for kids or you can create your dream outdoor oasis. Perfectly located only minutes to Gordon Lee Schools and downtown Chickamauga and an easy 30–35 minute drive to Chattanooga. Don’t miss this opportunity to create something truly special—schedule your showing today and bring your vision to life!

12. 2026-04-21
    listed $185,000 Active 1177-char remark

    Show marketing remark (1177 chars)

    Calling all investors or first time homebuyers unlock the potential of your dream home with NO HOA the major upgrades are already done for you, including a newer roof, HVAC, plumbing, and septic system with new field lines, giving you peace of mind from day one. With just a little TLC, this multi-level home can truly look amazing—offering space, upgrades, and endless possibilities. Step inside to discover 3 spacious bedrooms, 2 full baths, and a versatile unfinished basement complete with its own entrance and central heating and air and an extra heater in the window which can be removed —perfect for expansion, rental potential, or a private retreat. Enjoy seamless living and entertaining with an inviting family room and kitchen layout, while the oversized backyard is your blank canvas— imagine your garden, fire pit, trampoline for kids or you can create your dream outdoor oasis. Perfectly located only minutes to Gordon Lee Schools and downtown Chickamauga and an easy 30–35 minute drive to Chattanooga. Don’t miss this opportunity to create something truly special—schedule your showing today and bring your vision to life!

13. 2026-04-20
    historical
14. 2026-04-20
    historical
15. 2026-03-19
    listed $200,000 Active
16. 2026-03-19
    listed $200,000 New

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,526
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,592
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$5,382
• Taxable loss: −$5,390
• Est. tax savings @ 24.0%: +$1,294
• After-tax cash flow: $-870/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: Walker County
• NCES district ID: 1305370
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $39,889
• Composite: 22.74/100
• National rank: #8035
• State rank: #114 of 174 in GA

Livability — Chickamauga

• Score: 68/100
• State rank: #133
• US rank: #9195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,847

Population outlook (Walker County) Hauer SSP2

• Today (2025): 66,050 people
• By 2030: 64,305 · -2.6%
• By 2040: 60,127 · -9.0%
• By 2050: 55,551 · -15.9%
• By 2075: 44,886 · -32.0%
• By 2100: 34,015 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+59.3) · D 20.1% · R 79.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -46.8pp · 2024: -59.3pp
• All cycles: 2024: R+59.3 2020: R+59.3 2016: R+61.5 2012: R+50.2 2008: R+46.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.05%
• Current HPI: 270.6502
• Rent YoY: —
• Metro: —
• 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

-7.5% since first listed

6 events — show timeline

• 2026-04-21 Listed $185,000 FMLS
• 2026-04-21 Listed $185,000 GAMLS
• 2026-04-20 Listing Removed — GAMLS
• 2026-04-20 Listing Removed — FMLS
• 2026-03-19 Listed $200,000 GAMLS
• 2026-03-19 Listed $200,000 FMLS

Property tax history

-11.3%/yr

Latest (2025): $151 · -38.6% YoY. Source: county tax records.