Duplex with Flexible Living
For Sale
$550,000
311 E View Drive, Chattanooga, TN 37404
Both residences offer two bedrooms, two full bathrooms, laundry, and a first-floor area with additional use options.
Property Size3,216 SF
Price / SF$171.02
Days on Market239
Property Features for 311 E View Drive
General Information
Standard status
Active
Size
3,216 SF
Property subtype
Duplex
Site & Location
Neighborhood
Missionary Ridge Neighborhood Association
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,446
Amenities
washer/dryer in unit
Building Details
Building Size
3,216 SF
Year Built
1965
Construction
mid-century modern
Listing Agency:
Real Estate Partners Chattanooga LLC
Listed By:
Melissa Hennessy · License #334281
(703) 926-5108
Source:
Fletcherbrightrealty
Added: Mar 6
Changed: Oct 27
Last Checked: Oct 27 at 4:25AM
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 Real Estate Partners Chattanooga LLC
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Investment Insights
Based on property information with market context.
This 3,216-square-foot duplex, built in 1965, has two occupied units. Each residence includes two bedrooms, two full bathrooms, a laundry closet with a washer and dryer, and a first-floor area that can serve as living space or a third bedroom. Improvements include a new roof, HVAC, sewage pump, bamboo flooring, and updated bathrooms; one unit also has a fully remodeled kitchen.
The property is on E View Drive in Chattanooga, with downtown Chattanooga and the airport a short drive away.
The property is on E View Drive in Chattanooga, with downtown Chattanooga and the airport a short drive away.
Key Highlights
- Two occupied units
- 3,216‑square‑foot duplex built in 1965
- Each unit has 2 bedrooms, 2 full baths, laundry, and a flexible first‑floor area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,573
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,460
$631.5K
Cap Rate 7%
$451,043
$451.0K
Cap Rate 9%
$350,811
$350.8K
Market Conditions
NOI Build-Up for 3,216 SF
Gross rent
$48.2K $15.00/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$45.1K $14.03/SF
− OpEx
−$13.5K −$4.21/SF
NOI
$31.6K $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%
$631,460
Cap Rate 7%
$451,043
Cap Rate 9%
$350,811
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.7K – $526.2K
NOI $31,573 @ 7.0% cap · market cap 5.74%
Second Best
Apartment 5plus
$404.7K
$354.2K – $472.2K
NOI $28,332 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$710.3K
$621.5K – $828.7K
NOI $49,719 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
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Business Placement
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
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 - Both residences offer two bedrooms, two full bathrooms, laundry, and a first-floor area with additional use options.
Where is this duplex located?
The property is located at 311 E View Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two occupied units; 3,216‑square‑foot duplex built in 1965; Each unit has 2 bedrooms, 2 full baths, laundry, and a flexible first‑floor area
