Duplex with Central
New
For Sale
$265,000
2906 15th Avenue, Chattanooga, TN 37407
Residential Income, Chattanooga, TN
Property Size1,944 SF
Lot Size0.60 Acres
Price / SF$136.32
Days on Market2
Property Features for 2906 15th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 2, Bedroom 2, Bathroom 6, Bathroom 8, Bedroom 3, Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 7, Bedroom 1, Bedroom 4, Bathroom 3
Parking features
Driveway, On Street
Elementary school
East Lake Elementary
Middle school
East Lake Academy of Fine Arts
High school
Howard School of Academics & Tech
Directions
Take I-24 W to 4th Ave. Take exit 181 from I-24 W, Merge onto I-75 S, Use the right 2 lanes to take exit 2 for I-24 W toward I-59/Chattanooga/Birmingham, take exit 181 4th Ave, Take E 23rd St and US-41 S/US-76 E/Westside Dr to 15th Ave, Turn right onto 4th Ave, Turn right onto E 23rd St, left onto 5th Ave
Subdivision
Chattanooga
Standard status
Active
APN
156n C 009.02
Size
1,944 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Description
Lot 663 Blk 48 East Lake Mission Ri Dge Land Co Pb2 Pg25 Pu5794
Tax Annual Amount
1467
Legal Description
Lot 663 Blk 48 East Lake Mission Ri Dge Land Co Pb2 Pg25 Pu5794
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
2
Number of units
2
Listing Agency:
Realty One Group Experts
(423) 896-6000
Listed By:
Via Hoxie · License #335601
(423) 838-9494
Added: Oct 7
Last Checked: Oct 8 at 1:06AM
MLS# 1544207
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 1,944-square-foot duplex contains two units, with a total of 2 bedrooms and 1.5 bathrooms described. Central air serves the property, and the 1982 building sits on a 0.6-acre lot. Public water and sewer are available. Parking includes a driveway and on-street spaces.
The property is in Chattanooga, Tennessee, with proximity to downtown, an interstate, Hamilton Place Mall, and grocery stores. One unit is vacant, while the other unit's occupancy status is not specified.
The property is in Chattanooga, Tennessee, with proximity to downtown, an interstate, Hamilton Place Mall, and grocery stores. One unit is vacant, while the other unit's occupancy status is not specified.
Key Highlights
- Two‑unit duplex with 1,944 square feet
- 0.6‑acre lot
- Built in 1982
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two units provide options for rental occupancy or an owner-occupant arrangement.
Where is this duplex located?
The property is located at 2906 15th Avenue 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 with 1,944 square feet; 0.6‑acre lot; Built in 1982
