Duplex with Updated
For Sale
$340,000
3808 Cherwood Ln, Chattanooga, TN 37406
The property is occupied and includes a two-bedroom, one-bath unit with a separate dining area in one unit.
Property Size1,836 SF
Price / SF$185.19
Days on Market8
Property Features for 3808 Cherwood Ln
General Information
Standard status
Active
Size
1,836 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Cherokee Woods Community Association
Additional Details
Multifamily Units
2
Building Details
Year Built
1972
Buildings
1
Listing Agency:
RE/MAX Properties
Listed By:
Frances Vantrease · License #250668
(423) 421-3341
Source:
Greaterknoxvillehomeguide
Added: Oct 27
Changed: Nov 1
Last Checked: Nov 3 at 7:25AM
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 RE/MAX Properties
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Investment Insights
Based on property information with market context.
This 1,836-square-foot duplex was built in 1972 and is occupied. One unit has two bedrooms and one bathroom; a separate dining area is present in one of the units. Updates include newer roofs, heating and air systems, and flooring.
The property is within Chattanooga city limits. Interior access is available only after an offer has been accepted.
The property is within Chattanooga city limits. Interior access is available only after an offer has been accepted.
Key Highlights
- 1,836‑square‑foot duplex built in 1972
- Occupied property within Chattanooga city limits
- One unit has 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,025
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,500
$360.5K
Cap Rate 7%
$257,500
$257.5K
Cap Rate 9%
$200,278
$200.3K
Market Conditions
NOI Build-Up for 1,836 SF
Gross rent
$27.5K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$25.7K $14.03/SF
− OpEx
−$7.7K −$4.21/SF
NOI
$18.0K $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%
$360,500
Cap Rate 7%
$257,500
Cap Rate 9%
$200,278
Alternative Uses
Best Use
Multifamily LT 5
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$231.1K
$202.2K – $269.6K
NOI $16,175 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$405.5K
$354.8K – $473.1K
NOI $28,384 @ 7.0% cap · market cap 8.35%
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
98
Businesses Nearby
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Business Placement
Demographics for 37406, TN
12,422
Population
5,894
Households
2.1
Avg Household Size
36
Median Age
16%
College-Educated
85%
High-School Grad
12.1 sq mi
ZIP Area
1,027
Density / Sq Mi
$42,993
Median Household Income
$31,076
Median Earnings
$944
Median Rent
$150,300
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 - The property is occupied and includes a two-bedroom, one-bath unit with a separate dining area in one unit.
Where is this duplex located?
The property is located at 3808 Cherwood Ln Chattanooga, TN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,836‑square‑foot duplex built in 1972; Occupied property within Chattanooga city limits; One unit has 2 bedrooms and 1 bathroom
