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 Market543
Property Features for 1131 Stringers Ridge Road #7j
General Information
Standard status
Active
Size
1,475 SF
Property subtype
Condominium
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:
Greater Downtown Realty dba Keller Williams Realty
Listed By:
Jay Robinson · License #255994
(423) 903-6404
Source:
Kw
Added: Mar 19, 2025
Changed: Sep 8
Last Checked: Sep 12 at 10:49AM
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 Greater Downtown Realty dba Keller Williams Realty
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 = 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
$12,994
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
5.30%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
524
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
Questions? Ask Rey
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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.
