Renovated 4-Unit
New
For Sale
$685,000
314 E View Drive, Chattanooga, TN 37404
Residential Income, Chattanooga, TN
Property Size3,436 SF
Lot Size0.40 Acres
Price / SF$199.36
Days on Market2
Property Features for 314 E View Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4
Parking features
Off Street, Driveway
Window features
Insulated Windows, Vinyl Frames
Interior features
Breakfast Bar, Granite Counters, Split Bedrooms
Appliances
Water Heater, Washer/Dryer, Microwave, Free-Standing Refrigerator, Electric Water Heater, Electric Range, Dishwasher
Subdivision
Scruggs
Lot features
Back Yard
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Directions
From I-24 East, take exit 181A onto 41 South to East Ridge, take 41 to Ringgold Rd through the tunnel, Turn Left on S Seminole Dr and an immediate Left onto Old Ringgold Rd. Sharp Right on E View Dr. Property will be on the Right. From I-24 W, take the Belvoir Ave exit onto North Terrace. Turn Left on Germantown Rd. Right on Ringgold Rd. Right on Seminole Dr and an immediate Left onto Old Ringgold Rd. Sharp Right onto E View Dr. Property will be on Right.
Standard status
Active
APN
156k L 034
Size
3,436 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
PT OF W LOT SCRUGGS PB 16 PB 38
Tax Annual Amount
5772
Legal Description
PT OF W LOT SCRUGGS PB 16 PB 38
Utilities
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating), Electric (Heating)
Cooling system
Varies by Unit, Electric, Multi Units, Central Air, Ductless
Water source
Public
Amenities
granite countertops
new appliances
luxury vinyl plank flooring
in-unit washer and dryer
Building Details
Year built
1950
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Building materials
Brick
Roof type
Shingle, Asphalt
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Paul Carter · License #356270
(423) 660-2773
Added: Sep 6
Last Checked: Sep 7 at 2:06PM
MLS# 1542313
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 four-unit property contains three two-bedroom residences and one one-bedroom residence within 3,436 square feet. The building was comprehensively renovated, including updated structural and mechanical systems, granite countertops, new appliances, luxury vinyl plank flooring, and in-unit washers and dryers. Brick construction, public water and sewer, central and ductless heating and cooling systems, and off-street parking support the residential configuration.
Electric and water are separately metered for each residence. A full fire sprinkler system and fire hydrant are also in place. The 0.4-acre parcel is zoned R-3 and is delivered vacant, while any future development or accessory-income use remains subject to buyer verification. The property is located at 314 E View Drive in Chattanooga, Tennessee.
Electric and water are separately metered for each residence. A full fire sprinkler system and fire hydrant are also in place. The 0.4-acre parcel is zoned R-3 and is delivered vacant, while any future development or accessory-income use remains subject to buyer verification. The property is located at 314 E View Drive in Chattanooga, Tennessee.
Key Highlights
- Four‑unit layout with three two‑bedroom residences and one one‑bedroom residence
- 3,436 square feet on a 0.4‑acre R‑3‑zoned lot
- Comprehensive renovation included structural and mechanical updates
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,733
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,660
$674.7K
Cap Rate 7%
$481,900
$481.9K
Cap Rate 9%
$374,811
$374.8K
Market Conditions
NOI Build-Up for 3,436 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.5K $15.00/SF
− Vacancy
−$3.4K −$0.98/SF
EGI
$48.2K $14.03/SF
− OpEx
−$14.5K −$4.21/SF
NOI
$33.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$674,660
Cap Rate 7%
$481,900
Cap Rate 9%
$374,811
Alternative Uses
Best Use
Multifamily LT 5
$481.9K
$421.7K – $562.2K
NOI $33,733 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$432.4K
$378.4K – $504.5K
NOI $30,270 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$758.9K
$664.0K – $885.3K
NOI $53,120 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
254
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully renovated four-unit property delivered vacant with separately metered utilities and updated residential interiors.
Where is this quadplex located?
The property is located at 314 E View Drive Chattanooga, TN.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Four‑unit layout with three two‑bedroom residences and one one‑bedroom residence; 3,436 square feet on a 0.4‑acre R‑3‑zoned lot; Comprehensive renovation included structural and mechanical updates
