Vacant Duplex with Two 2BR
For Sale
$264,900
356 Tanager Circle, Chattanooga, TN 37412
MULTI_FAMILY - Chattanooga, TN
Property Size2,294 SF
Lot Size0.10 Acres
Price / SF$115.48
Days on Market173
Property Features for 356 Tanager Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 2, Bathroom 1
Parking features
On Street, Driveway
Window features
Vinyl Frames
Patio and Porch features
Porch
Appliances
Refrigerator, Microwave, Free-Standing Electric Range
Subdivision
Meadowlark Acres
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Standard status
Active
APN
170j B 025.13
Size
2,294 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
LT 45 REEVES ADDN TO MEADOW LARK HILLS S/D REV 37-295 OUT OF 170J-B-25.7 FOR 1984
Tax Annual Amount
2369
Legal Description
LT 45 REEVES ADDN TO MEADOW LARK HILLS S/D REV 37-295 OUT OF 170J-B-25.7 FOR 1984
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1993
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Nick Miles · License #372538
(256) 490-9246
Added: Feb 7
Changed: Jul 28
Last Checked: Jul 30 at 5:06PM
MLS# 1528135
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 vacant duplex at 356 Tanager Circle was built in 1993 and contains two separate units. Each unit features 2 bedrooms and 1.5 bathrooms, with practical layouts designed for everyday living. The property has key system updates, including a roof replacement approximately three years ago and a water heater replacement approximately five years ago.
The home is located down the middle of three adjacent driveways and is not visible from the road. Use the middle driveway only and do not disturb neighboring properties when accessing the site.
Conveniently located in East Ridge, the address offers quick access to Downtown Chattanooga and area routes including Brainerd Road and Shallowford Road, as well as Hamilton Place. Easy interstate access supports commuting throughout the Chattanooga area.
The home is located down the middle of three adjacent driveways and is not visible from the road. Use the middle driveway only and do not disturb neighboring properties when accessing the site.
Conveniently located in East Ridge, the address offers quick access to Downtown Chattanooga and area routes including Brainerd Road and Shallowford Road, as well as Hamilton Place. Easy interstate access supports commuting throughout the Chattanooga area.
Key Highlights
- Duplex built in 1993 with approximately 2,294 SF and two units
- Each unit features 2 bedrooms and 1.5 bathrooms
- Both units are vacant and ready for a new owner (occupancy or leasing)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.4k | $15.00 |
| − Vacancy | −$2.2k | −$0.98 |
| EGI | $32.2k | $14.03 |
| − OpEx | −$9.7k | −$4.21 |
| NOI | $22.5k | $9.82 |
2,294 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$321.7K
$281.5K – $375.4K
NOI $22,521 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$288.7K
$252.6K – $336.8K
NOI $20,209 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$506.6K
$443.3K – $591.1K
NOI $35,465 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 37412, TN
21,881
Population
10,305
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.7 sq mi
ZIP Area
2,515
Density / Sq Mi
$56,600
Median Household Income
$37,858
Median Earnings
$1,120
Median Rent
$182,600
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 - Vacant duplex built in 1993 with two 2-bedroom, 1.5-bath units and recent roof and water heater replacements.
Where is this duplex located?
The property is located at 356 Tanager Circle Chattanooga, TN.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Duplex built in 1993 with approximately 2,294 SF and two units; Each unit features 2 bedrooms and 1.5 bathrooms; Both units are vacant and ready for a new owner (occupancy or leasing)
