Two-Unit Duplex Under
New
For Sale
$375,000
3013 Northway Lane, Chattanooga, TN 37406
Residential Income, Chattanooga, TN
Property Size2,150 SF
Lot Size0.57 Acres
Price / SF$174.42
Days on Market3
Property Features for 3013 Northway Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 2
Parking features
Off Street, Driveway
Patio and Porch features
Patio, Deck, Porch
Interior features
Breakfast Bar, Ceiling Fan(s), Double Vanity, En Suite, Open Floorplan, Pantry, Plumbed, Primary Downstairs, Stone Counters, Tub/shower Combo, Walk-In Closet(s)
Exterior features
Rain Gutters
Appliances
Water Heater, Refrigerator, Microwave, Free-Standing Electric Range, Dishwasher
Subdivision
Northtower Forest
Lot features
Gentle Sloping, Level
Elementary school
Harrison Elementary
Middle school
Dalewood Middle
High school
Brainerd High
Directions
From I-75, take TN 153 N. Take exit 4 for TN317/Bonny Oaks Dr. then turn left. Turn left onto Lightfoot Mill Rd. then turn left onto Tunnel Blvd. Turn right onto to Towerway Dr. and then left onto Northway Ln. The property will be on the left.
Standard status
Active
APN
137b G 044
Size
2,150 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Description
LT 66 NORTHTOWER FOREST UNIT 2 PB26 PG15
Tax Annual Amount
248
Legal Description
LT 66 NORTHTOWER FOREST UNIT 2 PB26 PG15
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Flooring type
Tile, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Stevie S Rifenberick · License #TN322647
(423) 991-1543
Added: Nov 4
Changed: Nov 5
Last Checked: Nov 6 at 8:06AM
MLS# 1545799
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.
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Investment Insights
Based on property information with market context.
Under construction, this 2,150-square-foot duplex has two residences: an upper-level unit with three bedrooms and two full bathrooms, and a lower unit with two bedrooms and one full bathroom. Both include open-concept living areas and equipped kitchens. The upper unit’s primary bath has a double vanity. Central heating and air conditioning serve the property.
The home sits on a 0.57-acre lot with a driveway and paved off-street parking. Downtown Chattanooga, UTC, Erlanger Hospital, CHI Memorial Hospital, Volkswagen, Amazon, shopping, dining, and interstate access are identified nearby.
The home sits on a 0.57-acre lot with a driveway and paved off-street parking. Downtown Chattanooga, UTC, Erlanger Hospital, CHI Memorial Hospital, Volkswagen, Amazon, shopping, dining, and interstate access are identified nearby.
Key Highlights
- 2,150 square feet with separate 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences
- 0.57‑acre lot
- Under construction; year built listed as 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,108
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,160
$422.2K
Cap Rate 7%
$301,543
$301.5K
Cap Rate 9%
$234,533
$234.5K
Market Conditions
NOI Build-Up for 2,150 SF
Gross rent
$32.3K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$30.2K $14.03/SF
− OpEx
−$9.0K −$4.21/SF
NOI
$21.1K $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%
$422,160
Cap Rate 7%
$301,543
Cap Rate 9%
$234,533
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.9K – $351.8K
NOI $21,108 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$270.6K
$236.8K – $315.7K
NOI $18,941 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$474.8K
$415.5K – $554.0K
NOI $33,239 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
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Business Placement
Demographics for 37406, TN
12,422
Population
5,894
Households
2.1
Avg Household Size
36
Median Age
16%
College-Educated
85%
High-School Grad
12.1 sq mi
ZIP Area
1,027
Density / Sq Mi
$42,993
Median Household Income
$31,076
Median Earnings
$944
Median Rent
$150,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate two- and three-bedroom residences provide distinct layouts for rental or owner occupancy.
Where is this duplex located?
The property is located at 3013 Northway Lane Chattanooga, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,150 square feet with separate 3‑bedroom, 2‑bath and 2‑bedroom, 1‑bath residences; 0.57‑acre lot; Under construction; year built listed as 2026
