2-Unit Duplex with
For Sale
$365,000
3932 Bowman Ln, Chattanooga, TN 37416
Both residences are rented and offer separate bedroom configurations, with garage space for parking or storage.
Property Size2,428 SF
Lot Size0.30 Acres
Price / SF$150.33
Days on Market16
Property Features for 3932 Bowman Ln
General Information
Standard status
Active
Size
2,428 SF
Total Parking Spaces
2
Lot size
0.30 Acres
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Gross Income
$37,200
Highway Access
Yes
Building Details
Year Built
1971
Buildings
1
Tenancy
Multi
Listing Agency:
Real Estate Partners Chattanooga LLC
Listed By:
Gregory Depasquale · License #TN357488
(423) 664-3074
Source:
Chattanoogaareahomesforsale
Added: Sep 28
Changed: Oct 10
Last Checked: Oct 12 at 8:42PM
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 Real Estate Partners Chattanooga LLC
Investment Insights
Based on property information with market context.
This 2,428-square-foot duplex contains two occupied residences: one with three bedrooms and two baths, and another with two bedrooms and one-and-a-half baths. The building has a partial brick exterior and two garage spaces. Electrical, plumbing, flooring, and appliances have been updated.
Set on approximately 0.30 acres near Highway 58 in Chattanooga, the property is within reach of shopping, dining, and downtown. One residence has a one-year lease that begins in August 2026; the other is occupied under a month-to-month agreement.
Set on approximately 0.30 acres near Highway 58 in Chattanooga, the property is within reach of shopping, dining, and downtown. One residence has a one-year lease that begins in August 2026; the other is occupied under a month-to-month agreement.
Key Highlights
- Two residences totaling 2,428 square feet
- Unit mix: 3 bedrooms and 2 baths; 2 bedrooms and 1.5 baths
- Both units are rented; one has a one‑year lease beginning August 2026 and the other is month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,837
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$476,740
$476.7K
Cap Rate 7%
$340,529
$340.5K
Cap Rate 9%
$264,856
$264.9K
Market Conditions
NOI Build-Up for 2,428 SF
Gross rent
$36.4K $15.00/SF
− Vacancy
−$2.4K −$0.98/SF
EGI
$34.1K $14.03/SF
− OpEx
−$10.2K −$4.21/SF
NOI
$23.8K $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 Rate 5%
$476,740
Cap Rate 7%
$340,529
Cap Rate 9%
$264,856
Alternative Uses
Best Use
Multifamily LT 5
$340.5K
$298.0K – $397.3K
NOI $23,837 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$305.6K
$267.4K – $356.5K
NOI $21,390 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$536.2K
$469.2K – $625.6K
NOI $37,536 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 37416, TN
14,844
Population
6,598
Households
2.2
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
20.5 sq mi
ZIP Area
724
Density / Sq Mi
$65,083
Median Household Income
$37,379
Median Earnings
$1,086
Median Rent
$229,600
Median Home Value
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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 - Both residences are rented and offer separate bedroom configurations, with garage space for parking or storage.
Where is this duplex located?
The property is located at 3932 Bowman Ln Chattanooga, TN.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two residences totaling 2,428 square feet; Unit mix: 3 bedrooms and 2 baths; 2 bedrooms and 1.5 baths; Both units are rented; one has a one‑year lease beginning August 2026 and the other is month‑to‑month
