Condo with Mountain
For Sale
$245,000
1131 Stringers Ridge Road #7j, Chattanooga, TN 37405
3-bedroom, 2-bath condo with mountain views and community amenities.
Property Size1,475 SF
Price / SF$166.10
Days on Market589
Property Features for 1131 Stringers Ridge Road #7j
General Information
Standard status
Active
Size
1,475 SF
Property subtype
Condominium
Site & Location
Neighborhood
Northside Cherokee Community Association
Amenities
Security System
Central
Central Air
Electric
Refrigerator
Free-Standing Electric Range
Electric Water Heater
Dishwasher
Deck, Patio, Porch, Electricity Connected, Sewer Connected, Water Connected
Building Details
Building Size
1,475 SF
Year Built
1974
Stories
1
Listing Agency:
keller williams realty
Listed By:
Jay Robinson · License #255994
(423) 903-6404
Source:
Kw
Added: Mar 19, 2025
Changed: Oct 26
Last Checked: Oct 26 at 9:26PM
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 keller williams realty
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Investment Insights
Based on property information with market context.
Located in a gated community, this 1,475 square-foot unit features three bedrooms and two bathrooms, offering mountain views. Situated on the 7th floor, the residence includes hardwood floors, new vinyl windows and balcony door, crown moldings, and granite countertops. The open floor plan integrates a kitchen equipped with a double sink and stainless steel appliances, adjoining the dining and living rooms. The living room benefits from natural light and provides access to a covered balcony. The primary bedroom features a walk-in closet with built-in shelving and a private bath. Two additional bedrooms share a full hall guest bath. The unit includes a dedicated foyer with two closets. The building provides secured access and amenities such as a pool, club room, fitness center, and theater room. The property comes with two parking spaces. Upcoming improvements include two new elevators and fresh paint in the lobby.
Key Highlights
- Mountain views from every bedroom.
- Located in the desirable, gated Pinnacle condo community.
- Amenities include a pool, club room, fitness center, and theater room.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,994
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,880
$259.9K
Cap Rate 7%
$185,629
$185.6K
Cap Rate 9%
$144,378
$144.4K
Market Conditions
NOI Build-Up for 1,475 SF
Gross rent
$25.1K $17.04/SF
− Vacancy
−$1.5K −$1.02/SF
EGI
$23.6K $16.02/SF
− OpEx
−$10.6K −$7.21/SF
NOI
$13.0K $8.81/SF
Area
Chattanooga, TN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$259,880
Cap Rate 7%
$185,629
Cap Rate 9%
$144,378
Alternative Uses
Best Use
Apartment 5plus
$185.6K
$162.4K – $216.6K
NOI $12,994 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.8K
$285.0K – $380.1K
NOI $22,803 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 3-bedroom, 2-bath condo with mountain views and community amenities.
Where is this apartment building located?
The property is located at 1131 Stringers Ridge Road #7j Chattanooga, TN.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Mountain views from every bedroom.; Located in the desirable, gated Pinnacle condo community.; Amenities include a pool, club room, fitness center, and theater room.
