2-Unit Duplex with Laundry
New
For Sale
$295,000
3711 Fountain Ave, Chattanooga, TN 37412
Both residences offer a two-bedroom, one-bathroom layout with connections for tenant-supplied laundry equipment.
Property Size1,530 SF
Price / SF$192.81
Days on Market5
Property Features for 3711 Fountain Ave
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Missionary Ridge Neighborhood Association
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,831
Amenities
washer and dryer hookups
Listing Agency:
Crye-Leike, REALTORS
(423) 756-0771
Listed By:
Mac Hibbett · License #TN321037
(423) 596-3004
Source:
Exprealty
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 26 at 3:38PM
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 Crye-Leike, REALTORS
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Investment Insights
Based on property information with market context.
The duplex contains 1,530 square feet across two separate units. Each residence has two bedrooms, one bathroom, and washer and dryer hookups.
Downtown Chattanooga and Hamilton Place Mall are approximately 10 minutes away. Chattanooga Airport is approximately 15 minutes away.
Downtown Chattanooga and Hamilton Place Mall are approximately 10 minutes away. Chattanooga Airport is approximately 15 minutes away.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 765 square feet per unit; 1,530 square feet total
- Washer and dryer hookups in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,021
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,420
$300.4K
Cap Rate 7%
$214,586
$214.6K
Cap Rate 9%
$166,900
$166.9K
Market Conditions
NOI Build-Up for 1,530 SF
Gross rent
$23.0K $15.00/SF
− Vacancy
−$1.5K −$0.98/SF
EGI
$21.5K $14.03/SF
− OpEx
−$6.4K −$4.21/SF
NOI
$15.0K $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 Rate 5%
$300,420
Cap Rate 7%
$214,586
Cap Rate 9%
$166,900
Alternative Uses
Best Use
Multifamily LT 5
$214.6K
$187.8K – $250.4K
NOI $15,021 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$192.6K
$168.5K – $224.7K
NOI $13,479 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$337.9K
$295.7K – $394.2K
NOI $23,654 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer a two-bedroom, one-bathroom layout with connections for tenant-supplied laundry equipment.
Where is this duplex located?
The property is located at 3711 Fountain Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 765 square feet per unit; 1,530 square feet total; Washer and dryer hookups in both residences
