Two-Unit Duplex with
New
For Sale
$265,000
3624 Shirl Jo Lane, Chattanooga, TN 37412
Residential Income, Chattanooga, TN
Property Size1,708 SF
Lot Size0.22 Acres
Price / SF$155.15
Days on Market3
Property Features for 3624 Shirl Jo Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking features
Driveway
Patio and Porch features
Deck, Porch
Interior features
Eat-in Kitchen, Tub/shower Combo
Appliances
Refrigerator, Free-Standing Electric Range, Electric Water Heater, Dishwasher
Subdivision
Shirl Jo Estate
Lot features
Back Yard, Front Yard, Gentle Sloping, Level
Elementary school
East Ridge Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Standard status
Active
APN
168k L 018.08
Size
1,708 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
Lt 3 Shirl Jo Estates Pb 26 Pg 80
Tax Annual Amount
2831
Legal Description
Lt 3 Shirl Jo Estates Pb 26 Pg 80
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Amenities
deck
Building Details
Year built
1973
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Brick
Roof type
Shingle
Listing Agency:
Coldwell Banker Pryor Realty · Coldwell Banker Real Estate
(423) 894-6762
Listed By:
Rolanda L Pullen Daniel · License #280536
(423) 596-1568
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 4:06PM
MLS# 1542845
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 1,708-square-foot duplex was built in 1973 and includes two separate sides, each with 2 bedrooms and 1 bath. The property combines brick and siding construction with laminate flooring, central electric heating and cooling, a shingle roof, and driveway parking. Interior features include eat-in kitchens and tub/shower combinations, while appliances include refrigerators, free-standing electric ranges, electric water heaters, and dishwashers.
One unit is occupied and the other is vacant. Outdoor features include a deck and porch overlooking the backyard. Public water and public sewer serve the property. Located at 3624 Shirl Jo Lane in Chattanooga, the duplex provides access to East Ridge, Chattanooga, and Northwest Georgia.
One unit is occupied and the other is vacant. Outdoor features include a deck and porch overlooking the backyard. Public water and public sewer serve the property. Located at 3624 Shirl Jo Lane in Chattanooga, the duplex provides access to East Ridge, Chattanooga, and Northwest Georgia.
Key Highlights
- 1,708‑square‑foot duplex on a 0.22‑acre lot
- Two units, each with 2 bedrooms and 1 bath
- One side occupied; the other side is vacant
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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Current Use
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick-and-siding duplex with one occupied side and one vacant side for flexible use.
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: 1,708‑square‑foot duplex on a 0.22‑acre lot; Two units, each with 2 bedrooms and 1 bath; One side occupied; the other side is vacant
