Duplex Under
For Sale
$479,000
Pending
1745 Carolina Avenue NE, Cleveland, TN 37311
MULTI_FAMILY - Cleveland, TN
Property Size2,280 SF
Lot Size0.17 Acres
Days on Market173
Property Features for 1745 Carolina Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 4, Bedroom 2, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 1, Bathroom 6, Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 6
Parking features
On Street, Off Street
Interior features
Kitchen Island
Appliances
Oven, Microwave, Dishwasher
Subdivision
Craigmiles Park Addn
Elementary school
Mayfield Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Standard status
Pending
APN
050i J 02500 000
Size
2,280 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
050I J 025.00 000
Tax Annual Amount
82
Legal Description
050I J 025.00 000
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
HardiPlank Type
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(770) 686-9366
Added: Feb 13
Changed: Aug 1
Last Checked: Aug 4 at 11:06PM
MLS# 1528460
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.
Investment Insights
Based on property information with market context.
New construction duplex under construction at 1745 Carolina Avenue NE, Cleveland, TN 37311, set on a 0.17-acre lot. The plan calls for a three-bedroom, two-bath layout on each side, designed for flexible living arrangements for either traditional rental use or student-focused co-living configurations. Interior features include a kitchen island, with appliances including an oven, microwave, and dishwasher. The home is heated and cooled with central systems, with vinyl flooring throughout.
The property is served by public water and public sewer, with on-street and off-street parking available. The seller is roughing in plumbing in the basement to support a third unit build-out at a later time, which could convert the duplex into a triplex when completed.
This project is estimated to be completed in July 2026. Buyer to verify square footage and school zones.
The property is served by public water and public sewer, with on-street and off-street parking available. The seller is roughing in plumbing in the basement to support a third unit build-out at a later time, which could convert the duplex into a triplex when completed.
This project is estimated to be completed in July 2026. Buyer to verify square footage and school zones.
Key Highlights
- 0.17‑acre lot with new construction duplex under construction
- 3‑bedroom, 2‑bath layout on each side
- Basement plumbing roughed in for a future third unit
Financial Insights For Multifamily LT 5
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 | $29.5k | $12.96 |
| − Vacancy | −$1.7k | −$0.75 |
| EGI | $27.8k | $12.21 |
| − OpEx | −$8.4k | −$3.66 |
| NOI | $19.5k | $8.55 |
2,280 SF · lease $12.96/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$278.4K
$243.6K – $324.8K
NOI $19,487 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$242.2K
$212.0K – $282.6K
NOI $16,956 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$478.4K
$418.6K – $558.2K
NOI $33,489 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
366
Businesses Nearby
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - New construction duplex under construction offering three bedrooms and two bathrooms per side with plumbing roughed in for a future third unit.
Where is this duplex located?
The property is located at 1745 Carolina Avenue NE Cleveland, TN.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 0.17‑acre lot with new construction duplex under construction; 3‑bedroom, 2‑bath layout on each side; Basement plumbing roughed in for a future third unit
