New Construction Duplex Near
1745 Carolina Avenue NE Cleveland, TN 37311
For Sale
$479,000
Pending
MULTI_FAMILY - Cleveland, TN
Property Size2,280 SF
Lot Size0.17 Acres
Days on Market166
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
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 6, Bathroom 3, Bathroom 5, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5, Bathroom 1
Parking features
Off Street, On Street
Interior features
Kitchen Island
Appliances
Oven, Microwave, Dishwasher
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
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: Jul 28
Last Checked: Jul 29 at 12:06AM
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.
This new construction duplex is located in Cleveland, Tennessee, within walking distance of Lee University. Each side of the duplex features 3 bedrooms and 2 bathrooms. The property offers multiple income strategies, including traditional family rentals or student housing. Its proximity to the university makes it attractive to students, while the neighborhood setting also appeals to small families and professionals. The property is suitable for long-term rentals or student co-living. Plumbing is roughed in the basement to allow for a third unit to be built out at a later time. The estimated completion date is July 2026. The lot size is 0.17 acres, and the property size is 2280 square feet.
Key Highlights
- New construction duplex in a prime location near Lee University (estimated completion July 2026).
- High income potential through rentals.
- Basement plumbing roughed‑in for 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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - New construction duplex near Lee University with income potential.
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: New construction duplex in a prime location near Lee University (estimated completion July 2026).; High income potential through rentals.; Basement plumbing roughed‑in for future third unit.
