Brick Duplex with Fenced Back
For Sale
$250,000
Pending
6309 Potts Road, Chattanooga, TN 37416
Residential Income, Chattanooga, TN
Property Size1,949 SF
Lot Size0.49 Acres
Days on Market29
Property Features for 6309 Potts Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Driveway
Patio and Porch features
Porch, Patio
Pets allowed
Dogs OK, Yes
Interior features
Ceiling Fan(s), Eat-in Kitchen, Open Floorplan
Exterior features
Storage
Fencing
Fenced
Appliances
Refrigerator, Dishwasher
Subdivision
Jenkins Charles E
Lot features
Back Yard, Cleared, Cul-De-Sac, Level
Elementary school
Bess T. Shepherd Elementary
Middle school
Tyner Middle Academy
High school
Tyner Academy
Directions
HWY 153 TO BONNY OAKS (Towards VOLKSWAGEN) RIGHT ON DEWAYNE, RIGHT ON POTTS ROAD. FIRST DUPLEX ON THE RIGHT.
Standard status
Pending
APN
129n C 012
Size
1,949 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Description
LT 4 CHARLES E JENKINS REV PB21 PG1 9 REV PB42 PG345
Tax Annual Amount
3705
Legal Description
LT 4 CHARLES E JENKINS REV PB21 PG1 9 REV PB42 PG345
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1971
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Brick
Roof type
Metal
Architectural style
Contemporary
Additional Structures
Storage
Listing Agency:
RE/MAX Properties · RE/MAX International
(423) 894-2900
Listed By:
Daniel Hunter · License #343739
(423) 605-9713
Added: Jul 23
Changed: Aug 19
Last Checked: Aug 20 at 10:06PM
MLS# 1539343
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.
Contemporary brick duplex built in 1971 offers two mirrored units, each with two bedrooms and one bathroom. Interior features include eat-in kitchens and an open floor plan, along with tile flooring and ceiling fans. Heating and cooling are provided by central systems with electric heat and central air, and the homes include a driveway and patio and porch areas.
The property sits in a cul-de-sac and includes a very large fenced back yard. Exterior features include storage, and the duplex is served by public water and public sewer, with a metal roof.
The duplex is fully occupied. One tenant is month to month, and the other is on a new one-year lease starting July 1, 2026.
The property sits in a cul-de-sac and includes a very large fenced back yard. Exterior features include storage, and the duplex is served by public water and public sewer, with a metal roof.
The duplex is fully occupied. One tenant is month to month, and the other is on a new one-year lease starting July 1, 2026.
Key Highlights
- Two‑bedroom, one‑bath layout on each side
- Very large fenced back yard plus storage
- Built in 1971 with brick exterior and metal roof
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
$19,134
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
7.65%
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%
$382,680
$382.7K
Cap Rate 7%
$273,343
$273.3K
Cap Rate 9%
$212,600
$212.6K
Market Conditions
NOI Build-Up for 1,949 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
$29.2K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.3K $14.03/SF
− OpEx
−$8.2K −$4.21/SF
NOI
$19.1K $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%
$382,680
Cap Rate 7%
$273,343
Cap Rate 9%
$212,600
Alternative Uses
Best Use
Multifamily LT 5
$273.3K
$239.2K – $318.9K
NOI $19,134 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$245.3K
$214.6K – $286.2K
NOI $17,170 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$430.4K
$376.6K – $502.2K
NOI $30,131 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 37416, TN
14,844
Population
6,598
Households
2.2
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
20.5 sq mi
ZIP Area
724
Density / Sq Mi
$65,083
Median Household Income
$37,379
Median Earnings
$1,086
Median Rent
$229,600
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 - Contemporary brick duplex features 2 bedrooms and 1 bathroom on each side, plus a fenced back yard.
Where is this duplex located?
The property is located at 6309 Potts Road Chattanooga, TN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath layout on each side; Very large fenced back yard plus storage; Built in 1971 with brick exterior and metal roof
