Duplex with Shaded Back
New
For Sale
$475,000
112 E Manning Street, Chattanooga, TN 37405
One side is leased, while the other is vacant for an owner occupant or additional rental arrangement.
Property Size2,120 SF
Days on Market5
Property Features for 112 E Manning Street
General Information
Standard status
Active
Size
2,120 SF
Total Parking Spaces
4
Property subtype
Multi Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,185
Amenities
back deck
Building Details
Building Size
2,120 SF
Year Built
1998
Buildings
1
Listing Agency:
EXP Realty, LLC
Listed By:
Drew Carey · License #327119
(423) 618-3739
Source:
Lawrenceteamhomes
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 15 at 8:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1998, this two-unit residential income property offers a one-bedroom, one-bath unit on the left and a two-bedroom, one-bath unit on the right. The left unit is occupied under a 1-year lease that began 8/1/2026, while the right unit is vacant. A shared driveway leads to parking for 4 vehicles behind the building, with additional street parking available. The property also includes a tree-shaded back deck that provides outdoor space for residents.
The duplex is located at 112 E Manning Street in Chattanooga, TN 37405, within a short walk of grocery stores, shops, and entertainment. The vacant unit may be shown by appointment, and the occupied unit should not be disturbed.
The duplex is located at 112 E Manning Street in Chattanooga, TN 37405, within a short walk of grocery stores, shops, and entertainment. The vacant unit may be shown by appointment, and the occupied unit should not be disturbed.
Key Highlights
- Two‑unit property with a 1‑bedroom, 1‑bath left unit and a 2‑bedroom, 1‑bath right unit
- Left unit has a 1‑year lease that began 8/1/2026
- Right unit is vacant for owner occupancy or leasing
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
$20,813
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
4.38%
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%
$416,260
$416.3K
Cap Rate 7%
$297,329
$297.3K
Cap Rate 9%
$231,256
$231.3K
Market Conditions
NOI Build-Up for 2,120 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
$31.8K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$29.7K $14.03/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$20.8K $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%
$416,260
Cap Rate 7%
$297,329
Cap Rate 9%
$231,256
Alternative Uses
Best Use
Multifamily LT 5
$297.3K
$260.2K – $346.9K
NOI $20,813 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$266.8K
$233.5K – $311.3K
NOI $18,677 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$468.2K
$409.7K – $546.3K
NOI $32,775 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 37405, TN
18,231
Population
9,959
Households
1.8
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
54.3 sq mi
ZIP Area
336
Density / Sq Mi
$77,850
Median Household Income
$51,748
Median Earnings
$1,276
Median Rent
$416,900
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 - One side is leased, while the other is vacant for an owner occupant or additional rental arrangement.
Where is this duplex located?
The property is located at 112 E Manning Street Chattanooga, TN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit property with a 1‑bedroom, 1‑bath left unit and a 2‑bedroom, 1‑bath right unit; Left unit has a 1‑year lease that began 8/1/2026; Right unit is vacant for owner occupancy or leasing
