Duplex with Covered
For Sale
$405,000
1418 Stratton Place Drive, Chattanooga, TN 37421
Two individually accessed units offer private outdoor space, storage, and designated off-street parking.
Property Size2,600 SF
Days on Market10
Property Features for 1418 Stratton Place Drive
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Duplex
Financials
Gross Income
$27,000
Average Monthly Rent
$1,125
Units
Unit Mix
1 x 3BR/3BA, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,961
Amenities
covered porch
decks
storage rooms
Building Details
Building Size
2,600 SF
Year Built
1980
Listing Agency:
Keller Williams Realty
Listed By:
Kidist Asay · License #TN358452
(408) 784-4857
Source:
Gracefrankgroup
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 24 at 5:20PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two separately arranged residences with a practical two-level layout. Each unit includes a living room, kitchen, half bath, laundry room, upstairs bedrooms, and a full bath. Unit A provides 3BR/3BA, while Unit B offers 2BR/2BA. Recent property updates include a newer roof, new siding, and newer HVAC systems.
Exterior features include covered porches, individual decks, private rear access, storage rooms, and designated off-street parking for each residence. The property is located in the East Brainerd area of Chattanooga, with access to major freeways and proximity to shopping, dining, grocery stores, and other everyday services.
Exterior features include covered porches, individual decks, private rear access, storage rooms, and designated off-street parking for each residence. The property is located in the East Brainerd area of Chattanooga, with access to major freeways and proximity to shopping, dining, grocery stores, and other everyday services.
Key Highlights
- Duplex with 3BR/3BA and 2BR/2BA unit mix
- Built in 1980
- Newer roof, new siding, and newer HVAC
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
$25,526
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
6.30%
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%
$510,520
$510.5K
Cap Rate 7%
$364,657
$364.7K
Cap Rate 9%
$283,622
$283.6K
Market Conditions
NOI Build-Up for 2,600 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
$39.0K $15.00/SF
− Vacancy
−$2.5K −$0.98/SF
EGI
$36.5K $14.03/SF
− OpEx
−$10.9K −$4.21/SF
NOI
$25.5K $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%
$510,520
Cap Rate 7%
$364,657
Cap Rate 9%
$283,622
Alternative Uses
Best Use
Multifamily LT 5
$364.7K
$319.1K – $425.4K
NOI $25,526 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$327.2K
$286.3K – $381.8K
NOI $22,905 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$574.2K
$502.5K – $669.9K
NOI $40,196 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 37421, TN
51,686
Population
23,978
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
31.7 sq mi
ZIP Area
1,630
Density / Sq Mi
$79,958
Median Household Income
$44,452
Median Earnings
$1,313
Median Rent
$299,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two individually accessed units offer private outdoor space, storage, and designated off-street parking.
Where is this duplex located?
The property is located at 1418 Stratton Place Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Duplex with 3BR/3BA and 2BR/2BA unit mix; Built in 1980; Newer roof, new siding, and newer HVAC
