Three-Bedroom
1203 E 34th Street, Chattanooga, TN 37407
For Sale
$249,500
Two full-home units offer flexible occupancy options with month-to-month lease terms and voucher eligibility.
Property Size2,328 SF
Days on Market103
Property Features for 1203 E 34th Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
LPT Realty LLC
Listed By:
Jennifer Dixon · License TN #361300
(423) 240-3396
Source:
Gracefrankgroup
Added: Jul 30
Changed: Nov 8
Last Checked: Nov 8 at 4:01PM
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 LPT Realty LLC
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Investment Insights
Based on property information with market context.
Built in 2004, this duplex contains two residential units, each configured with three bedrooms and two full bathrooms. Both sides provide open living areas and layouts designed for full-home occupancy, with the privacy and space associated with a standalone residence. The units are currently leased on month-to-month terms, and voucher programs are eligible.
The property is located at 1203 E 34th Street in Chattanooga, with schools, public transit, dining, and downtown access identified nearby. Flood insurance is required. This duplex must be purchased as part of a package with the adjacent duplex at 1201 E 34th Street; both properties are offered together. Showings are not available before a contract is in place, and tenants should not be disturbed.
The property is located at 1203 E 34th Street in Chattanooga, with schools, public transit, dining, and downtown access identified nearby. Flood insurance is required. This duplex must be purchased as part of a package with the adjacent duplex at 1201 E 34th Street; both properties are offered together. Showings are not available before a contract is in place, and tenants should not be disturbed.
Key Highlights
- Two residential units, each with 3 bedrooms and 2 full bathrooms
- Built in 2004
- Both units currently operate under month‑to‑month lease terms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,855
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,100
$457.1K
Cap Rate 7%
$326,500
$326.5K
Cap Rate 9%
$253,944
$253.9K
Market Conditions
NOI Build-Up for 2,328 SF
Gross rent
$34.9K $15.00/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$32.7K $14.03/SF
− OpEx
−$9.8K −$4.21/SF
NOI
$22.9K $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 Rate 5%
$457,100
Cap Rate 7%
$326,500
Cap Rate 9%
$253,944
Alternative Uses
Best Use
Multifamily LT 5
$326.5K
$285.7K – $380.9K
NOI $22,855 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$293.0K
$256.4K – $341.8K
NOI $20,509 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$514.2K
$449.9K – $599.9K
NOI $35,991 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
399
Businesses Nearby
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Business Placement
Demographics for 37407, TN
9,779
Population
3,540
Households
2.8
Avg Household Size
28
Median Age
7%
College-Educated
57%
High-School Grad
3.4 sq mi
ZIP Area
2,876
Density / Sq Mi
$33,785
Median Household Income
$27,018
Median Earnings
$891
Median Rent
$84,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Chattanooga, TN
Properties on Market for Duplexes in Chattanooga
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two full-home units offer flexible occupancy options with month-to-month lease terms and voucher eligibility.
Where is this duplex located?
The property is located at 1203 E 34th Street Chattanooga, TN.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms and 2 full bathrooms; Built in 2004; Both units currently operate under month‑to‑month lease terms
