1600/1610 Chippewa Avenue SE Cleveland, TN 37311
MULTI_FAMILY - Ranch - Cleveland, TN
Property Features for 1600/1610 Chippewa Avenue SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2
- Patio and Porch features
- Porch
- Interior features
- Eat-in Kitchen
- Appliances
- Electric Water Heater
- Standard status
- Active
- APN
- 057l U 00200 000
- Size
- 2,934 SF
Taxes and HOA fees
- Tax Annual Amount
- 431
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1990
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Laminate
- Roof type
- Shingle
- Architectural style
- Ranch
Listing agent William Eilf License #337177 (423) 813-9800
Listing office KW Cleveland 140 Interstate Dr NW, Cleveland, TN (423) 303-1200
Listing date Feb 24, 2025
Copyright © 2026 River Counties 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.
Investment Insights
Based on property information with market context.
The property is located at 1600/1610 Chippewa Avenue SE in Cleveland, TN (Bradley County). Full city utilities are available, including water, sewer, and electric.
Offered for sale as a four-unit income property, this package is designed for an owner seeking multiple stabilized units with one additional unit in the final stages of renovation.
Key Highlights
- Four‑unit multi‑building portfolio in downtown Cleveland, TN on a corner lot
- Total of $2,130/month in place for 3 units; 4th unit being rehabbed with projected rent of $1,100/month
- Recent renovations throughout, with updated kitchen featuring an eat‑in kitchen
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.2k | $14.40 |
| − Vacancy | −$2.6k | −$0.88 |
| EGI | $39.7k | $13.52 |
| − OpEx | −$17.9k | −$6.08 |
| NOI | $21.8k | $7.44 |
