Renovated Duplex with Private
3839 N Terrace Drive, Chattanooga, TN 37411
MULTI_FAMILY - Ranch - Chattanooga, TN
Type:Single Family Residence
Property size:
2,142 SFLot size:
0.28 Acres- Added:
- Apr 21, 2026
- Days on Market:
- 45
- Last Refresh:
- Jun 4 at 1:06 pm
Property Features for 3839 N Terrace Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 3, Bedroom 4
- Parking features
- Off Street
- Window features
- Vinyl Frames
- Patio and Porch features
- Patio
- Pets allowed
- Yes
- Interior features
- Ceiling Fan(s), Granite Counters, Kitchen Island, Laminate Counters
- Fireplace
- 1
- Appliances
- Microwave, Free-Standing Refrigerator, Free-Standing Range, Electric Water Heater, Electric Range, Dishwasher
- Standard status
- Pending
- APN
- 157i G 013
- Size
- 2,142 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Description
- Lt 10 Harold E Davidson Sub # 2 Pb8 Pg11 Rev 47-328 Rev 48-167
- Tax Annual Amount
- 2585
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1991
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile - Ceramic, Vinyl, Carpet
- Building materials
- Vinyl Siding
- Roof type
- Asphalt, Shingle
- Architectural style
- Ranch
Listing agent Thomas DeWitt License #312482 (423) 309-7232
Listing office Elite Properties 5906 Cassandra Smith Road, Hixson, TN (423) 508-8012
Listing date Apr 21, 2026
MLS# 1533006
Listing URL
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.
HighLights
- East Ridge duplex built in 1991 with two separate units, each with a fireplace
- Left unit: 2‑story, 2 bed/1.5 bath, recently completely renovated with new kitchen cabinets, granite counters, and island
- Left unit upgrades include stainless steel appliances, updated flooring, and new/updated baths with ceramic tile, vanities, mirrors, lighting, and toilets
- Left unit has new water heater (installed last year); rent is $1,375/month and is month‑to‑month
- Right unit: 1‑level, 2 bed/1.5 bath with large living room and good‑size bedrooms; rent is $1,325/month with lease ending in October
- Each unit includes a large private rear concrete patio; tenants pay all utilities; parking is off‑street
Overview
This duplex offers a two-unit configuration with private rear outdoor space for each tenant. The left side is a two-story layout with 2 bedrooms and 1 1/2 baths that was recently completely renovated, including new kitchen cabinets, granite countertops, stainless steel appliances, lighting, flooring, and a new island. Both bathrooms were updated with new ceramic tile floors, vanities, mirrors, lighting, and toilets, and the unit also received a new water heater last year. The right side is a single-level 2-bedroom, 1 1/2-bath unit in very good condition, featuring a large living room and good-sized bedrooms. Both units include fireplaces, and each tenant has a large private concrete patio in the rear.
The property is located at 3839 N Terrace Drive in Chattanooga, TN 37411, on a 0.28-acre lot. It is being offered for sale as a duplex with tenant-occupied showings available only after an accepted offer; please do not disturb tenants.
For buyers looking for an owner-occupied setup or an income-focused residence, the duplex presents two separate 2-bedroom units with tenant-paid utilities. The left unit is month-to-month, while the right unit is leased through October, providing defined near-term timing for occupancy planning. Buyers should verify all information deemed important.
The property is located at 3839 N Terrace Drive in Chattanooga, TN 37411, on a 0.28-acre lot. It is being offered for sale as a duplex with tenant-occupied showings available only after an accepted offer; please do not disturb tenants.
For buyers looking for an owner-occupied setup or an income-focused residence, the duplex presents two separate 2-bedroom units with tenant-paid utilities. The left unit is month-to-month, while the right unit is leased through October, providing defined near-term timing for occupancy planning. Buyers should verify all information deemed important.
Local 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 | $32.1k | $15.00 |
| − Vacancy | −$2.1k | −$0.98 |
| EGI | $30.0k | $14.03 |
| − OpEx | −$9.0k | −$4.21 |
| NOI | $21.0k | $9.82 |
2,142 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$300.4K
$262.9K – $350.5K
NOI $21,029 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$269.6K
$235.9K – $314.5K
NOI $18,870 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$473.1K
$413.9K – $551.9K
NOI $33,115 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Map
- City
- Chattanooga
- County
- Hamilton
- State
- Tennessee
- Longitude
- -85.244371
- Latitude
- 35.012022
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-unit duplex with a recently renovated two-story unit and private rear patios for tenant comfort.
Where is this duplex located?
The property is located at 3839 N Terrace Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: East Ridge duplex built in 1991 with two separate units, each with a fireplace; Left unit: 2‑story, 2 bed/1.5 bath, recently completely renovated with new kitchen cabinets, granite counters, and island; Left unit upgrades include stainless steel appliances, updated flooring, and new/updated baths with ceramic tile, vanities, mirrors, lighting, and toilets
