Two-Unit
New
For Sale
$165,000
Pending
3237 Idlewild Dr, Chattanooga, TN 37411
Both residences are occupied, with one bedroom, one bathroom, a living room, kitchen, and laundry room in each.
Property Size1,554 SF
Days on Market7
Property Features for 3237 Idlewild Dr
General Information
Standard status
Pending
Size
1,554 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Missionary Ridge Neighborhood Association
Building Details
Year Built
1972
Listing Agency:
Norluxe Realty Chattanooga LLC
Listed By:
Tamekia L Brewer · License #TN 361956
(423) 400-5121
Source:
Homesmiddletn
Added: Oct 25
Changed: Oct 30
Last Checked: Oct 30 at 1:34PM
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 Norluxe Realty Chattanooga LLC
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Investment Insights
Based on property information with market context.
This 1,554-square-foot duplex contains two units, each arranged with one bedroom, one bathroom, a living room, kitchen, and laundry room. Built in 1972, the property is being offered as-is, and both units need work. Tenants currently occupy both residences; showings require 24 hours’ notice, and tenant rights apply.
The property is in the Brainerd area of Chattanooga, minutes from downtown and Erlanger, Memorial, and Parkridge hospitals.
The property is in the Brainerd area of Chattanooga, minutes from downtown and Erlanger, Memorial, and Parkridge hospitals.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,554 square feet; built in 1972
- Both units are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,690
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,800
$273.8K
Cap Rate 7%
$195,571
$195.6K
Cap Rate 9%
$152,111
$152.1K
Market Conditions
NOI Build-Up for 1,554 SF
Gross rent
$26.5K $17.04/SF
− Vacancy
−$1.6K −$1.02/SF
EGI
$24.9K $16.02/SF
− OpEx
−$11.2K −$7.21/SF
NOI
$13.7K $8.81/SF
Area
Chattanooga, TN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$273,800
Cap Rate 7%
$195,571
Cap Rate 9%
$152,111
Alternative Uses
Best Use
Multifamily LT 5
$217.9K
$190.7K – $254.3K
NOI $15,256 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$195.6K
$171.1K – $228.2K
NOI $13,690 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$343.2K
$300.3K – $400.4K
NOI $24,025 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
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Business Placement
Demographics for 37411, TN
17,499
Population
8,807
Households
2
Avg Household Size
40
Median Age
29%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
2,397
Density / Sq Mi
$50,180
Median Household Income
$34,045
Median Earnings
$1,031
Median Rent
$216,800
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 are occupied, with one bedroom, one bathroom, a living room, kitchen, and laundry room in each.
Where is this duplex located?
The property is located at 3237 Idlewild Dr Chattanooga, TN.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two units, each with 1 bedroom and 1 bathroom; 1,554 square feet; built in 1972; Both units are tenant‑occupied
