Duplex with Alley
For Sale
$634,998
328 Beck Avenue, Chattanooga, TN 37405
Residential Income, Chattanooga, TN
Property Size2,254 SF
Lot Size0.25 Acres
Price / SF$281.72
Days on Market92
Property Features for 328 Beck Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 6
Parking features
Off Street
Fireplace
1
Subdivision
Normal Park Corrected
Elementary school
Normal Park Elementary
Middle school
Chattanooga Middle
High school
Red Bank High School
Directions
Take Frazier Avenue to Tremont Street. From Tremont Street turn Right at Aretha Frankensteins onto Beck Avenue. The home is on the Left at the intersection of Jarnigan Avenue
Standard status
Active
APN
136h A 015
Size
2,254 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
Lt 3 Pt 4 Blk 2 Normal Park Correct Ed Pb4 Pg41
Tax Annual Amount
4401
Legal Description
Lt 3 Pt 4 Blk 2 Normal Park Correct Ed Pb4 Pg41
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1896
Number of units
2
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Jim T Lea · License #TN296129
(423) 779-2354
Added: Jun 3
Changed: Sep 2
Last Checked: Sep 2 at 2:06PM
MLS# 1536031
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.
Built in 1896, this 2,254-square-foot duplex contains two three-bedroom, one-bath units. The upper residence features abundant window light and architectural character, while the lower unit has newer HVAC and windows. Central air, a fireplace, off-street parking, public water, and public sewer serve the property.
The 0.25-acre parcel has both street frontage and alley access. Its Chattanooga setting places the property near the shops, restaurants, and entertainment along Frazier Avenue and in Northshore, with the Walnut Street Bridge providing a walking connection toward downtown. The property is also within the Normal Park school district.
The 0.25-acre parcel has both street frontage and alley access. Its Chattanooga setting places the property near the shops, restaurants, and entertainment along Frazier Avenue and in Northshore, with the Walnut Street Bridge providing a walking connection toward downtown. The property is also within the Normal Park school district.
Key Highlights
- 2,254‑square‑foot duplex with two three‑bedroom, one‑bath units
- 0.25‑acre lot with street frontage and alley access
- Lower unit features newer HVAC and windows
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units occupy a historic property with off-street parking, central air, and public utilities.
Where is this duplex located?
The property is located at 328 Beck Avenue 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 units; 0.25‑acre lot with street frontage and alley access; Lower unit features newer HVAC and windows
