Stonebrook: The True Monthly Cost
County-only taxes, no income tax, and a built-out townhome price — the math behind why this is one of the lowest carrying costs a Chattanooga retiree can find.
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We’ll model a $375,000 resale condo/townhome at Stonebrook with a $300,000 mortgage (20% down) at 6.5% / 30-year. Because Stonebrook sits in unincorporated Ooltewah and Tennessee has no income tax, the recurring carrying cost is unusually low for a maintenance-free home.
| Cost layer | Monthly (est.) | Notes |
|---|---|---|
| Principal & interest | ~$1,896 | $300k at 6.5%, 30-yr. |
| Property tax (county only) | ~$118 | $375k × 25% × $1.5157/$100 ≈ $1,421/yr. No city levy. |
| Homeowners / condo insurance | ~$80–$140 | Often lower for a condo where the COA carries the master exterior policy. Confirm what’s covered. |
| COA dues | Confirm | Covers exterior maintenance, lawn, common areas — possibly roof/water. Get current dues + reserve-study status. |
| State income tax on retirement income | $0 | TN does not tax Social Security, pensions, or 401(k)/IRA withdrawals. |
Mortgage + tax + insurance lands around $2,100/month before COA dues. Add the verified COA figure and you have the whole picture — and even with dues, this typically undercuts an in-city Chattanooga home of similar size, because you skip the city tax entirely.
What to confirm before you sign
- Current COA dues and exactly what they cover (exterior insurance, roofs, water/sewer).
- Reserve-study status — underfunded reserves can mean special assessments later.
- The recorded age-restriction provision, if any (see the community page).
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