Duplex with Garage
New
For Sale
$319,900
Pending
305 Sunset Dr, Cleveland, TN 37312
Separate breaker panels and laundry hookups serve both residences.
Property Size1,832 SF
Days on Market6
Property Features for 305 Sunset Dr
General Information
Standard status
Pending
Size
1,832 SF
Property subtype
Residential Income
Units
Unit Mix
3 bedroom 1 bath home, 1 bedroom 1 bath ADU
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
stainless steel appliances
granite countertops
open floor plans
washer/dryer hookups
Building Details
Year Built
1946
Listing Agency:
RE/MAX Properties
Listed By:
Adrienne Gremore 4237748344 · License #346069
(423) 774-8344
Source:
Nashvillehomefinderonline
Added: Oct 22
Changed: Oct 27
Last Checked: Oct 26 at 4:42PM
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 RE/MAX Properties
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Investment Insights
Based on property information with market context.
This 1946 duplex pairs a 1,382-square-foot, three-bedroom, one-bathroom main home with a 450-square-foot apartment above a two-car garage. The apartment has one bedroom and one bathroom, along with a kitchen, living room, pantry, and additional garage storage. Both residences have separate breaker panels, washer and dryer hookups, stainless steel appliances, granite countertops, and open floor plans. The property has been remodeled down to the studs.
The property offers access to I-75, downtown, and Lee University.
The property offers access to I-75, downtown, and Lee University.
Key Highlights
- 1,382‑square‑foot main home with 3 bedrooms and 1 bathroom
- 450‑square‑foot apartment with 1 bedroom and 1 bathroom
- Apartment sits above a two‑car garage with additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,658
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,160
$313.2K
Cap Rate 7%
$223,686
$223.7K
Cap Rate 9%
$173,978
$174.0K
Market Conditions
NOI Build-Up for 1,832 SF
Gross rent
$23.7K $12.96/SF
− Vacancy
−$1.4K −$0.75/SF
EGI
$22.4K $12.21/SF
− OpEx
−$6.7K −$3.66/SF
NOI
$15.7K $8.55/SF
Area
Bradley County, TN
Vacancy
5.79%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,160
Cap Rate 7%
$223,686
Cap Rate 9%
$173,978
Alternative Uses
Best Use
Multifamily LT 5
$223.7K
$195.7K – $261.0K
NOI $15,658 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$194.6K
$170.3K – $227.1K
NOI $13,624 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$384.4K
$336.4K – $448.5K
NOI $26,908 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate breaker panels and laundry hookups serve both residences.
Where is this duplex located?
The property is located at 305 Sunset Dr Cleveland, TN.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: 1,382‑square‑foot main home with 3 bedrooms and 1 bathroom; 450‑square‑foot apartment with 1 bedroom and 1 bathroom; Apartment sits above a two‑car garage with additional storage
