Income-Producing Duplex With Two
For Sale
$439,900
1422 Stratton Place Drive, Chattanooga, TN 37421
MULTI_FAMILY - Chattanooga, TN
Property Size2,700 SF
Lot Size0.34 Acres
Price / SF$162.93
Days on Market95
Property Features for 1422 Stratton Place Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
6
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 6, Bathroom 3, Dining Room, Bathroom 5, Bedroom 1, Bathroom 2, Basement, Bedroom 5, Bathroom 1
Parking features
Off Street, Driveway
Window features
Window Treatments, Blinds
Patio and Porch features
Deck, Porch, Patio
Interior features
Breakfast Room, Ceiling Fan(s), Eat-in Kitchen, En Suite, High Speed Internet, Open Floorplan, Plumbed, Separate Dining Room, Storage, Tub/shower Combo
Exterior features
Private Yard, Storage
Basement
Crawl Space
Subdivision
Stratton Place
Lot features
Back Yard, Front Yard, Level
Elementary school
East Brainerd Elementary
Middle school
East Hamilton
High school
East Hamilton
Directions
E Brainerd Rd, then turn right onto Stratton Pl Dr. The property will be on the left-hand side. 1422 Stratton Place Drive. Latitude : 35.01147, Longitude : -85.160053
Standard status
Active
APN
158l H 015
Size
2,700 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
LT 5 STRATTON PLACE REV 33-344
Tax Annual Amount
4962
Legal Description
LT 5 STRATTON PLACE REV 33-344
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric, Multi Units
Water source
Public
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Block, Brick, Stone
Roof type
Shingle, Asphalt
Additional Structures
Storage
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Brian Erwin · License #334506
(423) 718-7667
Added: Apr 29
Changed: Jul 28
Last Checked: Aug 1 at 4:06AM
MLS# 1533558
Copyright © 2026 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This income-producing duplex at 1422 Stratton Place Drive features two separate units. Unit A is configured as a 3-bedroom, 2.5-bath home with a main level half bathroom, a large living room, in-unit laundry, and private rear access to a deck, along with outdoor storage. Unit B offers 2 bedrooms and 1.5 bathrooms, also with in-unit laundry, a large living room, private rear access to a deck, and outdoor storage. The exterior includes a covered front porch, a well-maintained facade, and ample off-street parking.
The property has been renovated with documentation records completed in 2025. Roof and HVAC systems (x2) are estimated to have been replaced in 2020–2021. Both units are currently leased.
Set on a 0.34-acre lot, the duplex provides practical, tenant-friendly layouts with indoor comfort elements and outdoor deck and storage areas for each unit.
The property has been renovated with documentation records completed in 2025. Roof and HVAC systems (x2) are estimated to have been replaced in 2020–2021. Both units are currently leased.
Set on a 0.34-acre lot, the duplex provides practical, tenant-friendly layouts with indoor comfort elements and outdoor deck and storage areas for each unit.
Key Highlights
- Income‑producing duplex in East Brainerd, with Unit A (3 bed, 2.5 bath) and Unit B (2 bed, 1.5 bath).
- Unit A is leased for $1,995/month and Unit B is leased for $1,471/month for $3,466/month gross rental income ($41,592/year).
- Grand renovation completed in 2025 with documentation records; updated flooring and paint noted for both units.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.5k | $15.00 |
| − Vacancy | −$2.6k | −$0.98 |
| EGI | $37.9k | $14.03 |
| − OpEx | −$11.4k | −$4.21 |
| NOI | $26.5k | $9.82 |
2,700 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.3K – $441.8K
NOI $26,507 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$339.8K
$297.3K – $396.4K
NOI $23,786 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,742 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 37421, TN
51,686
Population
23,978
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
31.7 sq mi
ZIP Area
1,630
Density / Sq Mi
$79,958
Median Household Income
$44,452
Median Earnings
$1,313
Median Rent
$299,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex offers two leased units with separate bedroom and bath layouts and in-unit laundry.
Where is this duplex located?
The property is located at 1422 Stratton Place Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Income‑producing duplex in East Brainerd, with Unit A (3 bed, 2.5 bath) and Unit B (2 bed, 1.5 bath).; Unit A is leased for $1,995/month and Unit B is leased for $1,471/month for $3,466/month gross rental income ($41,592/year).; Grand renovation completed in 2025 with documentation records; updated flooring and paint noted for both units.
