Updated Duplex with Flexible
For Sale
$550,000
311 E View Drive, Chattanooga, TN 37404
Residential Income, Chattanooga, TN
Property Size3,216 SF
Lot Size1.00 Acre
Price / SF$171.02
Days on Market198
Property Features for 311 E View Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 4
Parking features
Off Street, Driveway
Window features
Vinyl Frames
Patio and Porch features
Deck, Patio
Pets allowed
Yes, Dogs OK, Number Limit
Interior features
Breakfast Room, Ceiling Fan(s), Crown Molding, Double Vanity, Entrance Foyer, Granite Counters, High Speed Internet, Open Floorplan, Storage, Tub/shower Combo
Exterior features
Balcony, Private Entrance, Private Yard, Rain Gutters
Appliances
Stainless Steel Appliance(s), Refrigerator, Free-Standing Electric Range, Disposal, Dishwasher
Subdivision
Dunlap Place
Lot features
Back Yard, Gentle Sloping, Wooded
Elementary school
East Ridge Elementary
Middle school
East Ridge
High school
East Ridge High
Directions
From Downtown Chattanooga, I-24 Exit 181A towards East Ridge, veer R onto Westside, continue thru roundabout, veer L to continue on Westside, continue up Missionary Ridge to S Crest Rd. turn L onto S Crest, R onto East View, property on Left.
Standard status
Active
APN
156k J 007
Size
3,216 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
LOTS 91,99 PT 82,83,90,98 DUNLAP PL ACE PB I/3 PG 253
Tax Annual Amount
3446
Legal Description
LOTS 91,99 PT 82,83,90,98 DUNLAP PL ACE PB I/3 PG 253
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
2
Number of units
2
Flooring type
Tile, Vinyl, Bamboo
Building materials
HardiPlank Type, Stone
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Melissa Hennessy · License #334281
(703) 926-5108
Added: Mar 5
Changed: Sep 12
Last Checked: Sep 19 at 5:06AM
MLS# 1529844
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 3,216-square-foot duplex was built in 1965 and includes two bedrooms and two full bathrooms in each residence. Both units offer laundry closets with washers and dryers, private entrances, and a first-floor area that can function as additional living space or a third bedroom. Improvements include a roof, HVAC systems, sewage pump, bamboo flooring, updated bathrooms, and a fully renovated kitchen in one unit. Granite counters, stainless steel appliances, storage, and open layouts add practical interior functionality.
The property occupies 1 acre at 311 E View Drive in Chattanooga. Downtown Chattanooga and the airport are described as minutes away. Public water and public sewer serve the property, while parking is provided by a driveway and off-street spaces. Exterior features include a private yard, deck, patio, balcony, and rain gutters.
The property occupies 1 acre at 311 E View Drive in Chattanooga. Downtown Chattanooga and the airport are described as minutes away. Public water and public sewer serve the property, while parking is provided by a driveway and off-street spaces. Exterior features include a private yard, deck, patio, balcony, and rain gutters.
Key Highlights
- 3,216‑square‑foot duplex on 1 acre
- Two bedrooms and two full bathrooms per unit
- First‑floor flex area in each unit can serve as living space or a third bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,573
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$631,460
$631.5K
Cap Rate 7%
$451,043
$451.0K
Cap Rate 9%
$350,811
$350.8K
Market Conditions
NOI Build-Up for 3,216 SF
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.
Gross rent
$48.2K $15.00/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$45.1K $14.03/SF
− OpEx
−$13.5K −$4.21/SF
NOI
$31.6K $9.82/SF
Area
Chattanooga, TN
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$631,460
Cap Rate 7%
$451,043
Cap Rate 9%
$350,811
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.7K – $526.2K
NOI $31,573 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$710.3K
$621.5K – $828.7K
NOI $49,719 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with renovated systems, private entrances, outdoor areas, and adaptable lower-level living space.
Where is this duplex located?
The property is located at 311 E View Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,216‑square‑foot duplex on 1 acre; Two bedrooms and two full bathrooms per unit; First‑floor flex area in each unit can serve as living space or a third bedroom
