Separately Metered
New
For Sale
$249,900
7822 Basswood Drive, Chattanooga, TN 37416
Residential Income, Chattanooga, TN
Property Size1,868 SF
Lot Size0.31 Acres
Price / SF$133.78
Days on Market3
Property Features for 7822 Basswood Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Parking features
Driveway
Patio and Porch features
Porch
Pets allowed
Dogs OK, Cats OK, Yes
Interior features
Plumbed, Sitting Area
Appliances
Refrigerator, Range Hood, Oven, Gas Water Heater, Free-Standing Refrigerator, Dishwasher
Lot features
City Lot, Front Yard, Many Trees, Sloped
Elementary school
Harrison Elementary
Middle school
Brown Middle
High school
Central High School
Subdivision
Chattanooga
Standard status
Active
APN
129e D 009
Size
1,868 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
LOT 14 CAPITAL HGTS PB 27 PG 43
Tax Annual Amount
2316
Legal Description
LOT 14 CAPITAL HGTS PB 27 PG 43
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Electric (Heating)
Cooling system
Varies by Unit
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick, Concrete, Vinyl Siding
Roof type
Shingle
Listing Agency:
REAL Broker
(844) 591-7325
Listed By:
McKenna Blevins · License #384402
(423) 619-5360
Added: Sep 25
Changed: Sep 27
Last Checked: Sep 27 at 5:06PM
MLS# 1543517
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 1,868-square-foot duplex contains two 2-bedroom, 1-bathroom residences on a 0.31-acre lot. Both units are occupied: one has a 6-month lease, while the other is leased month-to-month. Utilities are paid by the tenants, and each unit has its own meter. Both residences include a refrigerator and washer/dryer hookups; one also has updated flooring and a newer bathroom vanity.
Built in 1969, the property is near Amazon and Volkswagen and has access to nearby interstate routes. Additional features include driveway parking and a porch.
Built in 1969, the property is near Amazon and Volkswagen and has access to nearby interstate routes. Additional features include driveway parking and a porch.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,868 square feet on a 0.31‑acre lot
- Both units occupied; one has a 6‑month lease and the other is month‑to‑month
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
$18,339
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
7.34%
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%
$366,780
$366.8K
Cap Rate 7%
$261,986
$262.0K
Cap Rate 9%
$203,767
$203.8K
Market Conditions
NOI Build-Up for 1,868 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
$28.0K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$26.2K $14.03/SF
− OpEx
−$7.9K −$4.21/SF
NOI
$18.3K $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%
$366,780
Cap Rate 7%
$261,986
Cap Rate 9%
$203,767
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.7K
NOI $18,339 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$235.1K
$205.7K – $274.3K
NOI $16,456 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$412.6K
$361.0K – $481.3K
NOI $28,879 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
84
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are occupied, with utility service metered separately for each unit.
Where is this duplex located?
The property is located at 7822 Basswood Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,868 square feet on a 0.31‑acre lot; Both units occupied; one has a 6‑month lease and the other is month‑to‑month
