New Construction Duplex, Separately Metered
For Sale
$479,900
116 & 118 Courtland Crest Drive SW, Cleveland, TN 37311
MULTI_FAMILY - Cleveland, TN
Property Size2,450 SF
Lot Size0.17 Acres
Price / SF$195.88
Days on Market188
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
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 7, Bedroom 3, Bathroom 5, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 6, Bathroom 8, Bedroom 2, Bathroom 1
Parking features
Driveway
Appliances
Water Heater, Refrigerator, Microwave, Electric Range, Electric Oven, Cooktop
Subdivision
The Orchard
Elementary school
Black Fox Elementary
Middle school
Bradley County Middle
High school
Lake Forest School
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
Legal Description
DEED ACRES 12.82
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: Aug 1
Last Checked: Aug 4 at 11:06PM
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.
New construction duplex under construction on Courtland Crest Drive SW in Cleveland, Tennessee, built to townhome specifications (each side can be individually parceled and sold at the seller’s discretion). The property is planned as two identical units, each offering a two-bedroom, 2.5-bath layout. Both units include stainless steel appliances and granite countertops.
The duplex is slated for completion estimated for the end of May 2026. It features central heating and central air, vinyl flooring, and a shingle roof. Construction materials include concrete, HardiPlank Type siding, and vinyl siding. Utilities are separately metered for each side, supported by public water and public sewer. Parking is provided via a driveway.
The site totals 0.17 acres, and the property size is 2,450 square feet, with an estimated year built of 2025. The units are expected to be ready for leasing upon completion.
The duplex is slated for completion estimated for the end of May 2026. It features central heating and central air, vinyl flooring, and a shingle roof. Construction materials include concrete, HardiPlank Type siding, and vinyl siding. Utilities are separately metered for each side, supported by public water and public sewer. Parking is provided via a driveway.
The site totals 0.17 acres, and the property size is 2,450 square feet, with an estimated year built of 2025. The units are expected to be ready for leasing upon completion.
Key Highlights
- 0.17‑acre duplex site with 2,450 SF total area and planned year built 2025
- Two units, each with a 2‑bedroom and 2.5‑bath layout
- Estimated completion end of May 2026 for the under‑construction duplex
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
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
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 - Under-construction duplex with two 2-bed, 2.5-bath units and separate utility metering, set for completion in 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: 0.17‑acre duplex site with 2,450 SF total area and planned year built 2025; Two units, each with a 2‑bedroom and 2.5‑bath layout; Estimated completion end of May 2026 for the under‑construction duplex
