New Duplex in Growing
116 & 118 Courtland Crest Drive SW Cleveland, TN 37311
For Sale
$479,900
MULTI_FAMILY - Cleveland, TN
Property Size2,450 SF
Lot Size0.17 Acres
Price / SF$195.88
Days on Market181
Property Features for 116 & 118 Courtland Crest Drive SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
8
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 6, Bathroom 3, Bathroom 8, Bathroom 5, Bedroom 1, Bathroom 2, Bathroom 7, Bathroom 1
Parking features
Driveway
Appliances
Water Heater, Refrigerator, Microwave, Electric Range, Electric Oven, Cooktop
Standard status
Active
APN
057 010.00
Size
2,450 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
DEED ACRES 12.82
Tax Annual Amount
532
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Concrete, HardiPlank Type, Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(770) 686-9366
Added: Jan 29
Changed: Jul 28
Last Checked: Jul 29 at 12:06AM
MLS# 1527504
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 new construction duplex is located in Cleveland, TN. Completion is estimated for the end of May, 2026. Each side of the property features 2 bedrooms and 2.5 bathrooms. The property is built to townhome specifications, allowing for future individual parceling and resale. The property has two units, each with 2 bed / 2.5 bath layouts. Each side can be individually parceled and sold. The units are separately metered for utilities. Stainless steel appliances and granite countertops are included. The property is designed for durability and long-term performance, and each unit is ready for immediate leasing upon completion. The property is situated in Cleveland, TN, with easy access to shopping, schools, and I-75 for commutes to Chattanooga and surrounding areas. The lot size is 0.17 acres and the property size is 2450 square feet.
Key Highlights
- New construction duplex (under construction) built in 2025 with estimated completion end of May 2026
- 2 units with matching 2 bed and 2.5 bath layouts on each side
- Built to townhome specifications with potential for future individual parceling and resale by the seller
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.8k | $12.96 |
| − Vacancy | −$1.8k | −$0.75 |
| EGI | $29.9k | $12.21 |
| − OpEx | −$9.0k | −$3.66 |
| NOI | $20.9k | $8.55 |
2,450 SF · lease $12.96/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$299.1K
$261.7K – $349.0K
NOI $20,939 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$260.3K
$227.8K – $303.7K
NOI $18,220 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$514.1K
$449.8K – $599.8K
NOI $35,986 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - New construction duplex in Cleveland, TN, estimated completion May 2026.
Where is this duplex located?
The property is located at 116 & 118 Courtland Crest Drive SW Cleveland, TN.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: New construction duplex (under construction) built in 2025 with estimated completion end of May 2026; 2 units with matching 2 bed and 2.5 bath layouts on each side; Built to townhome specifications with potential for future individual parceling and resale by the seller
