Updated Two-Unit
For Sale
$239,000
4607 Highland Ave, Chattanooga, TN 37410
Each residence includes two bedrooms, one full bathroom, and refreshed interior and exterior finishes.
Property Size1,456 SF
Price / SF$164.15
Days on Market74
Property Features for 4607 Highland Ave
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,199
Listing Agency:
Veridical Realty, LLC
(423) 771-9061
Listed By:
Kristy Clements · License #339386
(423) 313-6068
Source:
Exprealty
Added: Aug 5
Changed: Sep 4
Last Checked: Oct 16 at 11:26AM
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 Veridical Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,456 SF duplex contains two separate residences, each configured with 2 bedrooms and 1 full bathroom. Improvements include updated flooring, new windows, and freshly painted interiors and exteriors. Each side also has 3 new mini split HVAC units, providing updated heating and cooling equipment for both residences. New porch railings add another recent exterior improvement.
Located at 4607 Highland Ave in Chattanooga, TN, the property is offered as a duplex with two residential units and a recently updated finish package. The combination of unit-specific HVAC improvements, window replacements, flooring updates, and interior and exterior painting provides a clear summary of the work completed across the property.
Located at 4607 Highland Ave in Chattanooga, TN, the property is offered as a duplex with two residential units and a recently updated finish package. The combination of unit-specific HVAC improvements, window replacements, flooring updates, and interior and exterior painting provides a clear summary of the work completed across the property.
Key Highlights
- 2‑unit duplex totaling 1,456 SF
- Each side includes 2 bedrooms and 1 full bathroom
- 3 new mini split HVAC units installed on each side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,294
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,880
$285.9K
Cap Rate 7%
$204,200
$204.2K
Cap Rate 9%
$158,822
$158.8K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$21.8K $15.00/SF
− Vacancy
−$1.4K −$0.98/SF
EGI
$20.4K $14.03/SF
− OpEx
−$6.1K −$4.21/SF
NOI
$14.3K $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%
$285,880
Cap Rate 7%
$204,200
Cap Rate 9%
$158,822
Alternative Uses
Best Use
Multifamily LT 5
$204.2K
$178.7K – $238.2K
NOI $14,294 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$183.2K
$160.3K – $213.8K
NOI $12,827 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$321.6K
$281.4K – $375.2K
NOI $22,510 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 37410, TN
4,082
Population
1,893
Households
2.2
Avg Household Size
33
Median Age
10%
College-Educated
65%
High-School Grad
3.0 sq mi
ZIP Area
1,361
Density / Sq Mi
$22,127
Median Household Income
$28,967
Median Earnings
$695
Median Rent
$133,800
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 - Each residence includes two bedrooms, one full bathroom, and refreshed interior and exterior finishes.
Where is this duplex located?
The property is located at 4607 Highland Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 2‑unit duplex totaling 1,456 SF; Each side includes 2 bedrooms and 1 full bathroom; 3 new mini split HVAC units installed on each side
