Three-Unit Ranch
New
For Sale
$447,000
117 Valley View Avenue, Chattanooga, TN 37415
Residential Income, Chattanooga, TN
Property Size2,292 SF
Lot Size0.51 Acres
Price / SF$195.03
Days on Market6
Property Features for 117 Valley View Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Basement, Bathroom 3, Bedroom 4
Parking features
Off Street, Driveway
Basement
Finished, Full
Appliances
Washer, Refrigerator, Electric Range, Electric Oven, Dryer, Dishwasher
Subdivision
Valley View
Lot features
Back Yard, Front Yard, Gentle Sloping, Private
Elementary school
Alpine Crest Elementary
Middle school
Red Bank Middle
High school
Red Bank High School
Standard status
Active
APN
109g G 022
Size
2,292 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
Lot 7 Valley View Pb 9 Pg 15
Tax Annual Amount
4236
Legal Description
Lot 7 Valley View Pb 9 Pg 15
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1955
Floors in Building
2
Number of units
3
Building materials
Brick, Vinyl Siding
Roof type
Asphalt, Shingle
Architectural style
Ranch
Listing Agency:
Fletcher Bright Realty
(423) 752-0188
Listed By:
Carson Haselwander · License #354788
(423) 693-4470
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 7:06PM
MLS# 1541536
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.
Built in 1955, this ranch-style triplex contains 2,292 square feet arranged across three residential units. Each unit includes two bedrooms, one full bathroom, a kitchen, and a living room, with refrigerators and stoves provided. The property also includes an unfinished basement for storage, electric baseboard heat, wall-unit cooling, a shingle roof, public water, and public sewer. Brick and vinyl siding complete the exterior, while driveway and off-street parking serve the units.
The property is located at 117 Valley View Avenue in Chattanooga, Tennessee, less than 15 minutes from downtown Chattanooga and near shopping, dining, and everyday amenities. Unit A is occupied under a month-to-month lease, creating an existing rental arrangement for the next owner.
The property is located at 117 Valley View Avenue in Chattanooga, Tennessee, less than 15 minutes from downtown Chattanooga and near shopping, dining, and everyday amenities. Unit A is occupied under a month-to-month lease, creating an existing rental arrangement for the next owner.
Key Highlights
- Three‑unit triplex with 2,292 square feet across the property
- Each unit includes 2 bedrooms, 1 full bath, a kitchen, and living room
- Built in 1955 with brick and vinyl siding
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
$22,502
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
5.03%
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%
$450,040
$450.0K
Cap Rate 7%
$321,457
$321.5K
Cap Rate 9%
$250,022
$250.0K
Market Conditions
NOI Build-Up for 2,292 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
$34.4K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$32.1K $14.03/SF
− OpEx
−$9.6K −$4.21/SF
NOI
$22.5K $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%
$450,040
Cap Rate 7%
$321,457
Cap Rate 9%
$250,022
Alternative Uses
Best Use
Multifamily LT 5
$321.5K
$281.3K – $375.0K
NOI $22,502 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$288.5K
$252.4K – $336.5K
NOI $20,192 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$506.2K
$442.9K – $590.6K
NOI $35,434 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Explore this area
Business Placement
Demographics for 37415, TN
23,580
Population
11,970
Households
2
Avg Household Size
38
Median Age
45%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,347
Density / Sq Mi
$67,027
Median Household Income
$42,933
Median Earnings
$1,240
Median Rent
$261,900
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?
Triplex - 1955 ranch-style triplex with individual kitchens, living rooms, off-street parking, and an unfinished basement.
Where is this triplex located?
The property is located at 117 Valley View Avenue Chattanooga, TN.
What is the asking price?
The asking price for this property is $447,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,292 square feet across the property; Each unit includes 2 bedrooms, 1 full bath, a kitchen, and living room; Built in 1955 with brick and vinyl siding
