Duplex with Accessory
New
For Sale
$319,900
305 Sunset Drive NW, Cleveland, TN 37312
Residential Income, Cleveland, TN
Property Size1,832 SF
Lot Size0.36 Acres
Price / SF$174.62
Days on Market1
Property Features for 305 Sunset Drive NW
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Garage, Driveway
Window features
Double Pane Windows, Vinyl Frames, Insulated Windows
Patio and Porch features
Porch, Deck
Interior features
Ceiling Fan(s), Eat-in Kitchen, Granite Counters, High Speed Internet, In-Law Floorplan, Open Floorplan, Pantry, Primary Downstairs, Recessed Lighting, Storage, Tub/shower Combo
Exterior features
Awning(s), Balcony, Rain Gutters, Storage
Appliances
Water Heater, Microwave, Free-Standing Electric Range, Free-Standing Electric Oven, Electric Water Heater, Electric Range, Electric Oven, Dishwasher
Lot features
Landscaped, Level
Elementary school
Ross-Yates Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Directions
From Paul Huff Parkway, turn left onto Keith Street. Turn left onto Henderson Avenue NW. Continue left onto Sunset Drive NW. The property will be on the right.
Standard status
Active
APN
042p K 01700 000
Size
1,832 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
Parcel 042p K 017.00
Tax Annual Amount
943
Legal Description
Parcel 042p K 017.00
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Ductless (Heating)
Cooling system
Ceiling Fan(s), Central Air, Ductless, Electric
Water source
Public
Building Details
Year built
1946
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile - Ceramic
Building materials
Vinyl Siding
Roof type
Metal, Shingle
Architectural style
Ranch
Additional Structures
Storage, Residence
Listing Agency:
RE/MAX Properties · RE/MAX International
(423) 894-2900
Listed By:
Adrienne Gremore · License #346069
(423) 774-8344
Added: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# 1545045
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex pairs a remodeled 1,382-square-foot, three-bedroom, one-bathroom main home with a 450-square-foot, one-bedroom, one-bathroom apartment above a double-car garage. The main residence was remodeled down to the studs. Both units have their own breaker panels and washer and dryer hookups, as well as stainless steel appliances, granite countertops, and open floor plans. The apartment also includes a kitchen, living room, pantry, and garage storage.
The property occupies a level 0.36-acre lot with driveway and garage parking. It offers access to I-75, downtown Cleveland, and Lee University. Public water and sewer serve the property.
The property occupies a level 0.36-acre lot with driveway and garage parking. It offers access to I-75, downtown Cleveland, and Lee University. Public water and sewer serve the property.
Key Highlights
- 1,832 square feet across the main home and apartment
- Main home: 1,382 square feet, 3 bedrooms, and 1 bathroom
- Apartment: 450 square feet, 1 bedroom, and 1 bathroom
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?
See the owner, sales and loan history
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living spaces feature individual breaker panels, laundry hookups, and kitchens.
Where is this duplex located?
The property is located at 305 Sunset Drive NW 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: 1,832 square feet across the main home and apartment; Main home: 1,382 square feet, 3 bedrooms, and 1 bathroom; Apartment: 450 square feet, 1 bedroom, and 1 bathroom
