Duplex with Attached
For Sale
$450,000
2135 Jenkins Rd, Chattanooga, TN 37421
Well-maintained rental property offers garage storage and convenient access to shopping, dining, schools, and major highways.
Property Size2,400 SF
Price / SF$187.50
Days on Market38
Property Features for 2135 Jenkins Rd
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$33,300
Highway Access
Yes
Building Details
Year Built
1997
Buildings
1
Tenancy
Multi
Listing Agency:
Greater Downtown Realty dba Keller Williams Realty
Listed By:
Sarah Ketterer · License #328768
(423) 400-0014
Source:
Weathersbeerealty
Added: Aug 2
Changed: Sep 8
Last Checked: Sep 8 at 7:06AM
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 Greater Downtown Realty dba Keller Williams Realty
Investment Insights
Based on property information with market context.
This duplex in Chattanooga provides 2,800 square feet of living space, with 6 bedrooms and 4 full bathrooms across the property. Constructed in 1997, the building includes an attached 2-car garage for each unit, adding dedicated parking and storage. The property is fully occupied by month-to-month tenants, supporting continued residential rental use.
Located on Jenkins Road, the duplex offers access to shopping, dining, schools, and major highways. Its two-unit configuration, existing garage improvements, and established tenant occupancy provide a straightforward income-property profile for an owner seeking a residential rental asset.
Located on Jenkins Road, the duplex offers access to shopping, dining, schools, and major highways. Its two-unit configuration, existing garage improvements, and established tenant occupancy provide a straightforward income-property profile for an owner seeking a residential rental asset.
Key Highlights
- 6 bedrooms and 4 full bathrooms across the duplex
- 2, 800 square feet of living space
- Built in 1997
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
$23,562
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
5.24%
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%
$471,240
$471.2K
Cap Rate 7%
$336,600
$336.6K
Cap Rate 9%
$261,800
$261.8K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$33.7K $14.03/SF
− OpEx
−$10.1K −$4.21/SF
NOI
$23.6K $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%
$471,240
Cap Rate 7%
$336,600
Cap Rate 9%
$261,800
Alternative Uses
Best Use
Multifamily LT 5
$336.6K
$294.5K – $392.7K
NOI $23,562 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$302.0K
$264.3K – $352.4K
NOI $21,143 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$530.1K
$463.8K – $618.4K
NOI $37,104 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 37421, TN
51,686
Population
23,978
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
31.7 sq mi
ZIP Area
1,630
Density / Sq Mi
$79,958
Median Household Income
$44,452
Median Earnings
$1,313
Median Rent
$299,600
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 - Well-maintained rental property offers garage storage and convenient access to shopping, dining, schools, and major highways.
Where is this duplex located?
The property is located at 2135 Jenkins Rd Chattanooga, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 6 bedrooms and 4 full bathrooms across the duplex; 2, 800 square feet of living space; Built in 1997
