Two-Unit
New
For Sale
$265,000
2906 15th Ave, Chattanooga, TN 37407
One residence is vacant, offering flexibility to occupy it or place it with a tenant.
Property Size1,944 SF
Price / SF$136.32
Days on Market7
Property Features for 2906 15th Ave
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1982
Buildings
1
Listing Agency:
Realty One Group Experts
Listed By:
Via Hoxie · License #335601
(423) 664-1600
Source:
Searchchattanoogahomesnow
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 12 at 7:52PM
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 Realty One Group Experts
Investment Insights
Based on property information with market context.
This 1,944-square-foot duplex contains two units, with one currently vacant. The property is described as low-maintenance, and its 2-bedroom, 1.5-bath configuration is stated for the duplex; the source does not specify whether that layout applies to each unit.
The property is in Chattanooga, minutes from downtown, the interstate, Hamilton Place Mall, and grocery stores. The vacant unit can be rented or occupied, while the other unit provides a separate residential space.
The property is in Chattanooga, minutes from downtown, the interstate, Hamilton Place Mall, and grocery stores. The vacant unit can be rented or occupied, while the other unit provides a separate residential space.
Key Highlights
- Two‑unit duplex totaling 1,944 square feet
- One unit is vacant and available for occupancy or rental
- 2‑bedroom, 1.5‑bath configuration stated for the duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,085
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,700
$381.7K
Cap Rate 7%
$272,643
$272.6K
Cap Rate 9%
$212,056
$212.1K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$29.2K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.3K $14.03/SF
− OpEx
−$8.2K −$4.21/SF
NOI
$19.1K $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 Rate 5%
$381,700
Cap Rate 7%
$272,643
Cap Rate 9%
$212,056
Alternative Uses
Best Use
Multifamily LT 5
$272.6K
$238.6K – $318.1K
NOI $19,085 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$244.7K
$214.1K – $285.4K
NOI $17,126 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$429.3K
$375.7K – $500.9K
NOI $30,054 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Explore this area
Business Placement
Demographics for 37407, TN
9,779
Population
3,540
Households
2.8
Avg Household Size
28
Median Age
7%
College-Educated
57%
High-School Grad
3.4 sq mi
ZIP Area
2,876
Density / Sq Mi
$33,785
Median Household Income
$27,018
Median Earnings
$891
Median Rent
$84,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, offering flexibility to occupy it or place it with a tenant.
Where is this duplex located?
The property is located at 2906 15th Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,944 square feet; One unit is vacant and available for occupancy or rental; 2‑bedroom, 1.5‑bath configuration stated for the duplex
