Two-Unit Duplex With Alley
For Sale
$634,998
328 Beck Ave, Chattanooga, TN 37405
Both residences offer three bedrooms and one full bathroom, with a spacious yard and access from both street and alley.
Property Size2,254 SF
Price / SF$281.72
Days on Market92
Property Features for 328 Beck Ave
General Information
Standard status
Active
Size
2,254 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,401
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Jim T Lea · License #TN296129
(423) 779-2354
Source:
Exprealty
Added: Jun 3
Changed: Aug 31
Last Checked: Sep 1 at 8:10PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,254-square-foot duplex contains two separate residences, each configured with three bedrooms and one full bathroom. The upper unit receives natural light through large windows and includes architectural character, while the lower unit has a newer HVAC system and windows. An oversized yard provides outdoor space for gardening, recreation, pets, or gatherings.
The property has both street frontage and alley access. It is within walking distance of the shops, restaurants, and entertainment along Frazier Avenue and Northshore, with downtown Chattanooga accessible across the Walnut Street Bridge. The lot also offers room identified in the source information for potential expansion, additional parking, an accessory dwelling, or future development.
The property has both street frontage and alley access. It is within walking distance of the shops, restaurants, and entertainment along Frazier Avenue and Northshore, with downtown Chattanooga accessible across the Walnut Street Bridge. The lot also offers room identified in the source information for potential expansion, additional parking, an accessory dwelling, or future development.
Key Highlights
- 2,254‑square‑foot duplex with two three‑bedroom, one‑bath residences
- Lower unit includes a newer HVAC system and windows
- Upper unit features large windows and architectural details
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
$22,129
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
3.48%
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%
$442,580
$442.6K
Cap Rate 7%
$316,129
$316.1K
Cap Rate 9%
$245,878
$245.9K
Market Conditions
NOI Build-Up for 2,254 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
$33.8K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$31.6K $14.03/SF
− OpEx
−$9.5K −$4.21/SF
NOI
$22.1K $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%
$442,580
Cap Rate 7%
$316,129
Cap Rate 9%
$245,878
Alternative Uses
Best Use
Multifamily LT 5
$316.1K
$276.6K – $368.8K
NOI $22,129 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$283.7K
$248.2K – $331.0K
NOI $19,857 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$497.8K
$435.6K – $580.8K
NOI $34,846 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
Business Placement
Demographics for 37405, TN
18,231
Population
9,959
Households
1.8
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
54.3 sq mi
ZIP Area
336
Density / Sq Mi
$77,850
Median Household Income
$51,748
Median Earnings
$1,276
Median Rent
$416,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms and one full bathroom, with a spacious yard and access from both street and alley.
Where is this duplex located?
The property is located at 328 Beck Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $634,998.
What are key features of this property?
This property features: 2,254‑square‑foot duplex with two three‑bedroom, one‑bath residences; Lower unit includes a newer HVAC system and windows; Upper unit features large windows and architectural details
