Renovated Duplex with Off-Street
For Sale
$439,900
1422 Stratton Place Drive, Chattanooga, TN 37421
Residential Income, Chattanooga, TN
Property Size2,700 SF
Lot Size0.34 Acres
Price / SF$162.93
Days on Market178
Property Features for 1422 Stratton Place Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
6
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 1, Basement, Bedroom 3, Bathroom 6, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 5, Dining Room, Bedroom 5, Bathroom 2, Bedroom 2
Parking features
Off Street, Driveway
Window features
Blinds, Window Treatments
Patio and Porch features
Deck, Patio, Porch
Interior features
Breakfast Room, Ceiling Fan(s), Eat-in Kitchen, En Suite, High Speed Internet, Open Floorplan, Plumbed, Separate Dining Room, Storage, Tub/shower Combo
Exterior features
Private Yard, Storage
Basement
Crawl Space
Subdivision
Stratton Place
Lot features
Back Yard, Front Yard, Level
Elementary school
East Brainerd Elementary
Middle school
East Hamilton
High school
East Hamilton
Directions
E Brainerd Rd, then turn right onto Stratton Pl Dr. The property will be on the left-hand side. 1422 Stratton Place Drive. Latitude : 35.01147, Longitude : -85.160053
Standard status
Active
APN
158l H 015
Size
2,700 SF
Lot size
0.34 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
LT 5 STRATTON PLACE REV 33-344
Tax Annual Amount
4962
Legal Description
LT 5 STRATTON PLACE REV 33-344
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Heat Pump (Heating)
Cooling system
Ceiling Fan(s), Central Air, Electric, Multi Units
Water source
Public
Amenities
in-unit laundry
covered front porch
decks
outdoor storage rooms
Building Details
Year built
1980
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Block, Brick, Stone
Roof type
Asphalt, Shingle
Additional Structures
Storage
Buildings
1
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Brian Erwin · License #334506
(423) 718-7667
Added: Apr 29
Changed: Oct 23
Last Checked: Oct 23 at 9:06PM
MLS# 1533558
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.
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Investment Insights
Based on property information with market context.
Located at 1422 Stratton Place Drive in Chattanooga, this 2,700-square-foot duplex contains two distinct residences with a three-bedroom, two-and-a-half-bath layout in Unit A and a two-bedroom, one-and-a-half-bath layout in Unit B. Both units feature living and dining areas, in-unit laundry, updated flooring and paint, main-level half bathrooms, private rear deck access, and outdoor storage. Unit A includes an en suite, while both residences offer kitchens with eating areas and practical storage. The property has a brick, block, and stone exterior, covered porch areas, a neatly maintained lawn, and off-street driveway parking.
The 0.34-acre property sits just off East Brainerd Road in the East Brainerd area, with access to major roadways, shopping, dining, Hamilton Place Mall, and Gunbarrel Road. Public water and sewer serve the property. A documented renovation was completed in 2025, and the roof and two HVAC systems are estimated to have been replaced in 2020–2021.
The 0.34-acre property sits just off East Brainerd Road in the East Brainerd area, with access to major roadways, shopping, dining, Hamilton Place Mall, and Gunbarrel Road. Public water and sewer serve the property. A documented renovation was completed in 2025, and the roof and two HVAC systems are estimated to have been replaced in 2020–2021.
Key Highlights
- 2,700‑square‑foot duplex on a 0.34‑acre parcel
- Unit A: 3 bedrooms and 2.5 bathrooms; Unit B: 2 bedrooms and 1.5 bathrooms
- Documented renovation completed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,507
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,140
$530.1K
Cap Rate 7%
$378,671
$378.7K
Cap Rate 9%
$294,522
$294.5K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$40.5K $15.00/SF
− Vacancy
−$2.6K −$0.98/SF
EGI
$37.9K $14.03/SF
− OpEx
−$11.4K −$4.21/SF
NOI
$26.5K $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 Rate 5%
$530,140
Cap Rate 7%
$378,671
Cap Rate 9%
$294,522
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.3K – $441.8K
NOI $26,507 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$339.8K
$297.3K – $396.4K
NOI $23,786 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,742 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
832
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated interiors, private outdoor areas, and convenient access to shopping, dining, and major roads.
Where is this duplex located?
The property is located at 1422 Stratton Place Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: 2,700‑square‑foot duplex on a 0.34‑acre parcel; Unit A: 3 bedrooms and 2.5 bathrooms; Unit B: 2 bedrooms and 1.5 bathrooms; Documented renovation completed in 2025
