Two-Unit
New
For Sale
$165,000
3237 Idlewild Drive, Chattanooga, TN 37411
Residential Income, Chattanooga, TN
Property Size1,554 SF
Lot Size0.16 Acres
Price / SF$106.18
Days on Market3
Property Features for 3237 Idlewild Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
On Street
Appliances
Free-Standing Electric Oven, Electric Water Heater
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Directions
I 24 West Towards I-59. Take exit 184 towards Moore Road. Merge onto North Terrace. Turn right onto South Germantown Road. Turn left onto Navajo Drive. Turn right onto Idlewild Drive.
Subdivision
Chattanooga
Standard status
Active
APN
156e G 033.03
Size
1,554 SF
Lot size
0.16 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
Lt 9 Idlewild Park Dr Pb6 Pg3 Out O F 156E-G-33 For 1987
Tax Annual Amount
1424
Legal Description
Lt 9 Idlewild Park Dr Pb6 Pg3 Out O F 156E-G-33 For 1987
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1972
Number of units
2
Flooring type
Laminate
Architectural style
Other
Buildings
1
Listing Agency:
Norluxe Realty Chattanooga llc
(423) 730-9230
Listed By:
Tamekia L Brewer · License #361956
(423) 400-5121
Added: Oct 26
Last Checked: Oct 28 at 11:06AM
MLS# 1545173
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.
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Investment Insights
Based on property information with market context.
This 1,554-square-foot duplex contains two residences, each arranged with one bedroom, one bathroom, a living room, kitchen, and laundry room. Both units are occupied, and the property requires work. Built in 1972, the building has central electric heating and central air conditioning, laminate flooring, and on-street parking. Public water and sewer serve the property.
The duplex sits on a 0.16-acre lot at 3237 Idlewild Drive in Chattanooga. The property is being sold as is.
The duplex sits on a 0.16-acre lot at 3237 Idlewild Drive in Chattanooga. The property is being sold as is.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,554‑square‑foot building on a 0.16‑acre lot
- Both residences are currently 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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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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 - Each residence has a bedroom, bathroom, living room, kitchen, and laundry room.
Where is this duplex located?
The property is located at 3237 Idlewild Drive 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‑foot building on a 0.16‑acre lot; Both residences are currently occupied
