Two-Unit Duplex with Backyard
For Sale
$265,000
3624 Shirl Jo Lane, Chattanooga, TN 37412
One occupied side and one vacant side provide flexibility for an owner-occupant, tenant placement, or investment strategy.
Property Size1,708 SF
Days on Market10
Property Features for 3624 Shirl Jo Lane
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,831
Amenities
deck
Building Details
Building Size
1,708 SF
Year Built
1973
Listing Agency:
Coldwell Banker Pryor Realty
Listed By:
Rolanda L Pullen Daniel · License #280536
(423) 596-1568
Source:
Gracefrankgroup
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 24 at 4:12PM
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 Coldwell Banker Pryor Realty
Investment Insights
Based on property information with market context.
Built in 1973, this duplex includes two separate residences, each configured with 2 bedrooms and 1 bath. The exterior combines partial-brick and siding construction, while a deck extends the usable outdoor area above the backyard. One unit is occupied and the other is vacant, creating options for an owner-occupant, a new tenant, or an investor.
The property is located at 3624 Shirl Jo Lane in Chattanooga, TN 37412, with access to East Ridge, Chattanooga, and Northwest Georgia. Its two-unit configuration and differing occupancy status offer a straightforward setup for evaluating both personal use and rental operations.
The property is located at 3624 Shirl Jo Lane in Chattanooga, TN 37412, with access to East Ridge, Chattanooga, and Northwest Georgia. Its two-unit configuration and differing occupancy status offer a straightforward setup for evaluating both personal use and rental operations.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bath on each side
- One unit occupied; the second unit is vacant
- Partial‑brick and siding exterior
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
$16,768
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
6.33%
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%
$335,360
$335.4K
Cap Rate 7%
$239,543
$239.5K
Cap Rate 9%
$186,311
$186.3K
Market Conditions
NOI Build-Up for 1,708 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
$25.6K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$24.0K $14.03/SF
− OpEx
−$7.2K −$4.21/SF
NOI
$16.8K $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%
$335,360
Cap Rate 7%
$239,543
Cap Rate 9%
$186,311
Alternative Uses
Best Use
Multifamily LT 5
$239.5K
$209.6K – $279.5K
NOI $16,768 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$215.0K
$188.1K – $250.8K
NOI $15,047 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$377.2K
$330.1K – $440.1K
NOI $26,405 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
79
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - One occupied side and one vacant side provide flexibility for an owner-occupant, tenant placement, or investment strategy.
Where is this duplex located?
The property is located at 3624 Shirl Jo Lane Chattanooga, TN.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bath on each side; One unit occupied; the second unit is vacant; Partial‑brick and siding exterior
