3626 Tanaka Trl Unit 3626/3628 · Chattanooga, TN 37404

$165,000

4 bd · 2.0 ba · 1,560 sqft · Condo · 90 Days on market

Built 1950 ↓ 9% since listing

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Why this score? — see what drove the C 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 +24.6/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• 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

Each side offers 2 bedrooms and 1 bath, with recent rental history of $1,050/month and $1,064/month. The property is not currently rent-ready and will need interior improvements, but it offers a clear opportunity for an investor or owner-occupant to renovate, reposition, and work toward stronger rental performance. A nearby fully renovated duplex on Tanaka Trail recently rented for $1,175 per side, providing a helpful benchmark for potential upside after improvements. Based on a similar sale on the same street, the after-repair value could be around $280,000+. Recent exterior updates include paint, handrails, and lighting in 2023, plus a new roof in 2025. Right unit: Central HVAC and du

Key facts

• 1 acre lot
• Built 1950
• Listed 90 days

Property features AI

Finance

• HOA & community: No community amenities listed

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer / sewer connected
• Home design: Residential income property; Duplex; One level
• Construction: Built with other construction materials; Block foundation
• Exterior features: Shingle roof; Property on a cul-de-sac; Sloped lot; City street frontage; Approximately 147.72 x 315 lot dimensions; Approximately 1 acre lot

Interior

• Kitchen: Refrigerator; Free-standing electric range; Water heater
• Flooring: Vinyl flooring; Wood flooring; Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Baseboard heating; Central air conditioning; Wall units for cooling; Window units for cooling
• Interior features: Open floorplan; Crawl space basement
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: East Ridge Elementary (math 22% / reading 18%, grade F, #644 of 952 statewide, top 68%, 996 students, 0% FRL); East Ridge Middle School (math 12% / reading 14%, grade F, #237 of 333 statewide, top 72%, 701 students, 0% FRL); East Ridge High School (math 7% / reading 17%, grade F, #265 of 332 statewide, top 80%, 1,008 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.
• Zoned-school proficiency averages 15% at this address vs 31% district-wide (-16 pts) — the specific schools serving this property underperform the Hamilton County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 167 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 40% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 90 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
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 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: 1.14% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.03% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-10,490
• Equity at exit: $24,602

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-2,161
• Equity at exit: $14,266

Cash invested: $46,200 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,874 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $340

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 77%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1812 John Ross Rd Chattanooga, TN	3.0	2.0	1926	$1,895	$0.98	23d	1	0.21mi
132 Hogan Rd Rossville, GA	3.0	2.0	1248	$1,975	$1.58	43d	1	0.65mi
135 Hogan Rd Rossville, GA	3.0	2.5	1839	$1,975	$1.07	43d	1	0.66mi
65 Nason St Rossville, GA	3.0	2.0	1876	$1,995	$1.06	43d	1	0.93mi
65 Nason St Rossville, GA	3.0	2.0	1876	$1,895	$1.01	23d	1	0.93mi
3201 E 36th St Chattanooga, TN	3.0	1.0	1368	$1,525	$1.11	23d	1	0.97mi
1409 E 50th St Chattanooga, TN	3.0	2.5	1350	$1,599	$1.18	14d	1	1.05mi
200A E Oak St Unit B Rossville, GA	3.0	2.0	1200	$1,200	$1.00	14d	1	1.11mi
104 Foster St Rossville, GA	3.0	2.0	1200	$1,599	$1.33	43d	1	1.19mi
3635 6th Ave Unit 3639 Chattanooga, TN	3.0	2.0	1300	$1,450	$1.12	14d	1	1.24mi
3627 6th Ave Unit 3627 Chattanooga, TN	3.0	2.0	1300	$1,350	$1.04	23d	1	1.25mi
1408 Mana Ln East Ridge, TN	2.0–3.0	1.5–2.5	1357	$1,659	$1.22	14d	3	1.35mi
11 Carroll Ln Rossville, GA	4.0	2.5	1656	$1,599	$0.97	43d	1	1.45mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $165,000 Active 90 DOM
2. 2026-06-17
   days on market $165,000 Active 89 DOM
3. 2026-06-16
   days on market $165,000 Active 88 DOM
4. 2026-06-15
   days on market $165,000 Active 87 DOM
5. 2026-06-14
   pricedays on market $165,000 Active 85 DOM
6. 2026-06-10
   days on market $209,900 Active 82 DOM
7. 2026-06-09
   days on market $209,900 Active 81 DOM
8. 2026-06-08
   days on market $209,900 Active 80 DOM
9. 2026-06-07
   days on market $209,900 Active 79 DOM
10. 2026-06-05
    days on market $209,900 Active 76 DOM
11. 2026-06-03
    days on market $209,900 Active 75 DOM
12. 2026-06-02
    days on market $209,900 Active 74 DOM
13. 2026-06-01
    days on market $209,900 Active 73 DOM
14. 2026-05-31
    days on market $209,900 Active 72 DOM
15. 2026-05-30
    days on market $209,900 Active 71 DOM
16. 2026-05-05
    price $209,900
17. 2026-04-04
    price $220,000
18. 2026-03-20
    listed $230,000 Active
19. 2026-02-28
    historical $230,000

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 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: $22,486
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$4,800
• Taxable income: $1,546
• Est. tax owed @ 24.0%: −$371
• After-tax cash flow: $3,710/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

-8.7% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $209,900 GCAR
• 2026-04-04 Price Changed $220,000 GCAR
• 2026-03-20 Listed $230,000 GCAR
• 2026-02-28 Coming Soon $230,000 GCAR