Townhome-Style
For Sale
$600,000
715 Ladd Ave, Chattanooga, TN 37405
Two leased units feature individual garages, private decks, and full kitchen and laundry appliances.
Property Size2,824 SF
Price / SF$212.46
Days on Market49
Property Features for 715 Ladd Ave
General Information
Standard status
Active
Size
2,824 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
1
Amenities
private deck
Building Details
Year Built
2016
Buildings
1
Tenancy
Multi
Listing Agency:
Greater Downtown Realty dba Keller Williams Realty
Listed By:
Bri Goodrich · License #362043
(224) 456-7423
Source:
Fiddletreerealty
Added: Aug 8
Changed: Sep 18
Last Checked: Sep 24 at 2:52PM
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.
This 2016 duplex at 715 and 717 Ladd Avenue contains two townhome-style residences. Each unit offers 3 bedrooms, 2.5 bathrooms, a one-car garage, and a private deck. Interior features include central air, electric service, washer and dryer connections, a microwave, refrigerator, electric range and oven, and dishwasher. The property also includes patio and porch areas, shingle construction, and connected sewer service.
Both residences are leased, with the unit at 717 Ladd Avenue committed through 3/18/2027 and the unit at 715 Ladd Avenue through 1/31/2027. Located in North Chattanooga, the duplex is minutes from downtown and near dining, shopping, and outdoor amenities. The seller also owns the adjacent duplex at 723/721 Ladd Avenue and is open to a package sale.
Both residences are leased, with the unit at 717 Ladd Avenue committed through 3/18/2027 and the unit at 715 Ladd Avenue through 1/31/2027. Located in North Chattanooga, the duplex is minutes from downtown and near dining, shopping, and outdoor amenities. The seller also owns the adjacent duplex at 723/721 Ladd Avenue and is open to a package sale.
Key Highlights
- Built in 2016 with two townhome‑style units
- Each unit includes 3 bedrooms, 2.5 bathrooms, a one‑car garage, and a private deck
- Both units are leased through 3/18/2027 and 1/31/2027
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
$27,725
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
4.62%
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%
$554,500
$554.5K
Cap Rate 7%
$396,071
$396.1K
Cap Rate 9%
$308,056
$308.1K
Market Conditions
NOI Build-Up for 2,824 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
$42.4K $15.00/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$39.6K $14.03/SF
− OpEx
−$11.9K −$4.21/SF
NOI
$27.7K $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%
$554,500
Cap Rate 7%
$396,071
Cap Rate 9%
$308,056
Alternative Uses
Best Use
Multifamily LT 5
$396.1K
$346.6K – $462.1K
NOI $27,725 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$355.4K
$311.0K – $414.7K
NOI $24,879 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$623.7K
$545.7K – $727.7K
NOI $43,659 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
340
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased units feature individual garages, private decks, and full kitchen and laundry appliances.
Where is this duplex located?
The property is located at 715 Ladd Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Built in 2016 with two townhome‑style units; Each unit includes 3 bedrooms, 2.5 bathrooms, a one‑car garage, and a private deck; Both units are leased through 3/18/2027 and 1/31/2027
