Fully Remodeled Duplex with Private
For Sale
$369,900
2111 Chamberlain Avenue, Chattanooga, TN 37404
Residential Income, Chattanooga, TN
Property Size2,243 SF
Lot Size0.15 Acres
Price / SF$164.91
Days on Market52
Property Features for 2111 Chamberlain Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 3
Parking features
Driveway, Off Street
Window features
Blinds
Patio and Porch features
Porch
Exterior features
Private Entrance
Fireplace
1
Basement
Crawl Space
Subdivision
Montagues Addn Highl
Elementary school
Orchard Knob Elementary
Middle school
Orchard Knob Middle
High school
Howard School of Academics & Tech
Directions
From downtown take McCallie Avenue, take a right onto S Willow Street, Turn left on Chamberlain Avenue.
Standard status
Active
APN
146k T 034
Size
2,243 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
LT 13 BLK 34 MONTAGUES HIGHLAND PAR K ADDN NO 2 PB1 PG35
Tax Annual Amount
5458
Legal Description
LT 13 BLK 34 MONTAGUES HIGHLAND PAR K ADDN NO 2 PB1 PG35
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Multi Units, Ductless, Central Air, Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1930
Number of units
2
Flooring type
Tile, Vinyl, Carpet
Building materials
Shingle Siding
Roof type
Shingle
Listing Agency:
Zach Taylor - Chattanooga
(855) 261-2233
Listed By:
Grace Frank · License #305329
(423) 208-3834
Added: Jul 2
Changed: Aug 19
Last Checked: Aug 22 at 1:06AM
MLS# 1537928
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 fully remodeled duplex at 2111 Chamberlain Avenue is set up for flexible living and steady rental income. The main-level unit features 4 bedrooms and 2 full bathrooms. The upper unit has a private entrance, 2 bedrooms, and 1 full bathroom, providing a separate layout that can work well for long-term tenants or guests.
The property sits on a 0.15-acre lot and was built in 1930. Interior finishes include vinyl, carpet, and tile flooring. Heating is ductless, and cooling is provided by central air plus ductless systems, with ceiling fans for comfort. The home includes a porch and a fireplace, and exterior details include shingle siding and a shingle roof.
Parking is available via driveway and off-street spaces. Utilities include cable available, with public water and public sewer connected. Additional exterior feature noted is the private entrance serving the upper unit.
The property sits on a 0.15-acre lot and was built in 1930. Interior finishes include vinyl, carpet, and tile flooring. Heating is ductless, and cooling is provided by central air plus ductless systems, with ceiling fans for comfort. The home includes a porch and a fireplace, and exterior details include shingle siding and a shingle roof.
Parking is available via driveway and off-street spaces. Utilities include cable available, with public water and public sewer connected. Additional exterior feature noted is the private entrance serving the upper unit.
Key Highlights
- Fully remodeled duplex designed for owner‑occupant living plus rental income
- Private entrance for the upper unit
- Main‑level unit: 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
Multi-tenant
Tenancy
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 - Fully remodeled duplex with a private entrance for the upper unit, offering owner-occupant living plus rental income.
Where is this duplex located?
The property is located at 2111 Chamberlain Avenue 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: Fully remodeled duplex designed for owner‑occupant living plus rental income; Private entrance for the upper unit; Main‑level unit: 4 bedrooms and 2 full bathrooms
