Tenant-Occupied
For Sale
$985,000
549 S Crest Road, Chattanooga, TN 37404
Residential Income, Chattanooga, TN
Property Size3,217 SF
Lot Size0.25 Acres
Price / SF$306.19
Days on Market17
Property Features for 549 S Crest Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Bathroom 4, Basement, Bathroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Off Street
Interior features
Eat-in Kitchen, Open Floorplan
Basement
Finished
Subdivision
Missionary Ridge
Lot features
Brow Lot
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Directions
East on 41 like your going through tunnels first right on round about and up Westside Dr. Right on Crest. Quadplex on right.
Standard status
Active
APN
168j T 014
Size
3,217 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
LOT 4 J A WARDLAWS LAKEVIEW ADDN PB 7 PG12 REV 67-198 RES USED AD DUPLE X
Tax Annual Amount
10916
Legal Description
LOT 4 J A WARDLAWS LAKEVIEW ADDN PB 7 PG12 REV 67-198 RES USED AD DUPLE X
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1921
Floors in Building
2
Number of units
4
Building materials
Aluminum Siding, Fiber Cement, Stone
Roof type
Shingle
Listing Agency:
RE/MAX Properties · RE/MAX International
(423) 894-2900
Listed By:
Adrienne Gremore · License #346069
(423) 774-8344
Added: Aug 7
Changed: Aug 22
Last Checked: Aug 23 at 7:06PM
MLS# 1540279
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 tenant-occupied fourplex contains 3,217 square feet on a 0.25-acre lot and dates to 1921. Interior features include an eat-in kitchen and open floorplan, while the exterior combines aluminum siding, fiber cement, and stone. Central air, electric heating, a shingle roof, and off-street parking support the existing residential configuration.
The property is located at 549 S Crest Road in Chattanooga, with panoramic views toward downtown and the surrounding mountains. Downtown, hospitals, restaurants, shopping, and major employers are described as minutes away. Public water and public sewer serve the property, providing established utility infrastructure for the occupied asset.
The property is located at 549 S Crest Road in Chattanooga, with panoramic views toward downtown and the surrounding mountains. Downtown, hospitals, restaurants, shopping, and major employers are described as minutes away. Public water and public sewer serve the property, providing established utility infrastructure for the occupied asset.
Key Highlights
- Tenant‑occupied fourplex at 549 S Crest Road, Chattanooga, TN 37404
- 3,217 square feet on a 0.25‑acre lot
- Panoramic views of downtown Chattanooga and the surrounding mountains
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
$31,583
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
3.21%
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%
$631,660
$631.7K
Cap Rate 7%
$451,186
$451.2K
Cap Rate 9%
$350,922
$350.9K
Market Conditions
NOI Build-Up for 3,217 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
$48.3K $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%
$631,660
Cap Rate 7%
$451,186
Cap Rate 9%
$350,922
Alternative Uses
Best Use
Multifamily LT 5
$451.2K
$394.8K – $526.4K
NOI $31,583 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.4K
NOI $28,341 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$710.5K
$621.7K – $828.9K
NOI $49,734 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
137
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units with established occupancy, public utilities, off-street parking, and downtown and mountain views.
Where is this quadplex located?
The property is located at 549 S Crest Road Chattanooga, TN.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Tenant‑occupied fourplex at 549 S Crest Road, Chattanooga, TN 37404; 3,217 square feet on a 0.25‑acre lot; Panoramic views of downtown Chattanooga and the surrounding mountains
