Remodeled
For Sale
$369,900
2111 Chamberlain Ave, Chattanooga, TN 37404
Renovated two-unit property with separate upper-level access and a flexible owner-occupant layout.
Property Size2,243 SF
Price / SF$164.91
Days on Market29
Property Features for 2111 Chamberlain Ave
General Information
Standard status
Active
Size
2,243 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Zach Taylor Chattanooga
(423) 208-3834
Listed By:
Grace Frank · License #118277
Source:
Grayfoxrealty
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 29 at 12:13PM
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 Zach Taylor Chattanooga
Investment Insights
Based on property information with market context.
This 2,243-square-foot duplex, built in 1930, has been fully remodeled and contains two distinct residences. The main-level unit offers four bedrooms and two full bathrooms. A separately accessed upper unit includes two bedrooms and one full bathroom, creating a flexible configuration for an owner-occupant, household members, or a tenant.
The property is located at 2111 Chamberlain Ave in Chattanooga’s downtown area, with access to McCallie School, Parkridge Medical Center, local restaurants, and other downtown destinations. Its two-unit arrangement combines a larger primary residence with a separate upper dwelling in a single remodeled property.
The property is located at 2111 Chamberlain Ave in Chattanooga’s downtown area, with access to McCallie School, Parkridge Medical Center, local restaurants, and other downtown destinations. Its two-unit arrangement combines a larger primary residence with a separate upper dwelling in a single remodeled property.
Key Highlights
- 2,243 SF duplex built in 1930
- Fully remodeled two‑unit property
- Main‑level residence with 4 bedrooms and 2 full bathrooms
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
$22,021
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
5.95%
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%
$440,420
$440.4K
Cap Rate 7%
$314,586
$314.6K
Cap Rate 9%
$244,678
$244.7K
Market Conditions
NOI Build-Up for 2,243 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
$33.6K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$31.5K $14.03/SF
− OpEx
−$9.4K −$4.21/SF
NOI
$22.0K $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%
$440,420
Cap Rate 7%
$314,586
Cap Rate 9%
$244,678
Alternative Uses
Best Use
Multifamily LT 5
$314.6K
$275.3K – $367.0K
NOI $22,021 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$282.3K
$247.0K – $329.3K
NOI $19,760 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$495.4K
$433.5K – $577.9K
NOI $34,676 @ 7.0% cap · market cap 9.37%
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
1,644
Businesses Nearby
Explore this area
Business Placement
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
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 - Renovated two-unit property with separate upper-level access and a flexible owner-occupant layout.
Where is this duplex located?
The property is located at 2111 Chamberlain Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: 2,243 SF duplex built in 1930; Fully remodeled two‑unit property; Main‑level residence with 4 bedrooms and 2 full bathrooms
