5217 Hickory Woods Ln · Chattanooga, TN 37343

$262,900

4 bd · 2.0 ba · 1,796 sqft · MultiFamily public records · 39 Days on market

Built 1970 0.41 ac lot Est $311k · 15% under

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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 +24.0/30.0
• ARV discount +14.4/15.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Well-maintained duplex located in the desirable Hixson submarket, offering a strong combination of in-place income and future upside. Each side features a 2-bedroom, 1-bath layout with functional floor plans that appeal to long-term tenants. The property was updated approximately 8 years ago, providing a solid foundation for continued performance with the opportunity for additional value-add improvements over time. Unit 1 is currently leased at $716/month on a month-to-month basis, while Unit 2 is leased at $1,072/month, also month-to-month--providing flexibility for an investor to adjust rents toward market levels or occupy one side if desired. The variance in rents presents a clear path t

Key facts

• Proven rental market
• 0.41 acre lot
• Built 1970

Tags

• WELL MAINTAINED DUPLEX
• FUNCTIONAL FLOOR PLANS
• STABLE RESIDENTIAL AREA
• PROVEN RENTAL MARKET

Property features AI

Finance

• HOA & community: No community features

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Duplex residential income property; One level
• Construction: Shingle roof; Construction: Other
• Exterior features: Level lot; Lot dimensions approximately 152.88 x 118.4 (0.41 acres)

Interior

• Kitchen: Eat-in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Eat-in kitchen; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $263k.

Deal economics

• At list price, monthly cash flow is $513 ($6k/yr) — positive. Per door: $257/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $263k).
• Recommended offer: $255k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Hixson Elementary (math 24% / reading 20%, grade F, #601 of 952 statewide, top 66%, 402 students, 0% FRL); Hixson Middle School (math 27% / reading 20%, grade F, #162 of 333 statewide, top 50%, 607 students, 0% FRL); Hixson High School (math 22% / reading 32%, grade F, #104 of 332 statewide, top 33%, 935 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 rising (+2.4%/yr); 459 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,133 units permitted in Hamilton County in 2024 (405 in 5+ unit buildings).
• This rent runs 40% of the median local income ($82k/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

• It's been on market 39 days — a 3% lower offer ($255k) 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,013 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.03% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.37%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $310,708
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4714 Metro Park Ln	0.65mi	4/2.0	1,704 (-5%)	3mo	$295,000	$173	58
1202 Gadd Rd	0.51mi	4/2.0	1,562 (-13%)	11mo	$253,000	$162	45

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-11,588
• Equity at exit: $39,199

10-year hold

• IRR: 4.8%
• Equity multiple: 1.34×
• Total profit: $25,210
• Equity at exit: $22,731

Cash invested: $73,612 (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 37343

• Rents YoY: 2.4%
• Active inventory: 459
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $2,710 high
• Mortgage (P&I): −$1,379
• Tax from tax record: −$139 /mo · $1,673/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $513

Break-even live

Break-even rent $2,060

Max offer price $262,900

Occupancy floor 76%

Sensitivity live

Price	-10% $662	-5% $588	+0% $513	+5% $439	+10% $364
Rent	-10% $299	-5% $406	+0% $513	+5% $620	+10% $727
Rate	-1.0pp $646	-0.5pp $580	base $513	+0.5pp $445	+1.0pp $376

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,710
Total (2 units)			$2,710

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: $65,725
• Closing costs: $7,887
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 Highcrest Dr Hixson, TN	3.0	2.5	2183	$2,100	$0.96	15d	1	0.81mi
1438 Ely Rd Hixson, TN	3.0	2.5	1600	$2,500	$1.56	24d	1	1.43mi

Listing history 11 events

1. 2026-06-02
   days on market $262,900 Active 39 DOM
2. 2026-06-01
   days on market $262,900 Active 38 DOM
3. 2026-05-31
   days on market $262,900 Active 37 DOM
4. 2026-05-30
   days on market $262,900 Active 36 DOM
5. 2026-04-29
   status Active
6. 2026-04-22
   status Pending
7. 2026-04-17
   listed $262,900 Active
8. 2022-07-15
   soldstatus $240,000
9. 2022-04-02
   price $990
10. 2021-02-22
    soldstatus $614,484
11. 2019-06-07
    listed $134,500

ⓘ 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: $1,673 · $139/mo
• Projected year-2 tax: $1,867 · $156/mo
• Expected delta: +$193/yr (+$16/mo · 11.5%)

ⓘ 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 7 d/yr ≥105°F today · 20 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: $32,520
• − Mortgage interest: −$14,726
• − Property taxes: −$1,673
• − Insurance: −$1,314
• − Repairs & maintenance: −$2,602
• − Management: −$2,602
• − Depreciation: −$7,648
• Taxable income: $1,954
• Est. tax owed @ 24.0%: −$469
• After-tax cash flow: $5,690/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): 45,101
• Household income: $82,227
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 1152.0

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% Hispanic / Latino 7% Two or more races 6% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, Vietnam, South Korea
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1% Chinese 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: ▼ -324.61%
• Current HPI: 260.3778
• Rent YoY: ▲ 2.41%
• 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

+95.5% since first listed

7 events — show timeline

• 2026-04-29 Relisted — GCAR
• 2026-04-22 Pending — GCAR
• 2026-04-17 Listed $262,900 GCAR
• 2022-07-15 Sold (Public Records) $240,000 Public Records
• 2022-04-02 Price Changed $990 RENT.
• 2021-02-22 Sold (Public Records) $614,484 Public Records
• 2019-06-07 Listed $134,500 RCAOR

Property tax history

+5.5%/yr

Latest (2025): $1,673 · +30.9% YoY. Source: county tax records.