Duplex with Updated
4831 Bonny Lake Ln, Chattanooga, TN 37416
For Sale
$315,000
Both residences are leased, with one tenancy approaching its December expiration.
Property Size1,787 SF
Price / SF$176.27
Days on Market11
Property Features for 4831 Bonny Lake Ln
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Building Details
Year Built
Listing Agency:
EXP Realty LLC
Listed By:
Drew Carey · License TN #327119
(423) 618-3739
Source:
Smokymountainshomefinder
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 8 at 7:04AM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1966, this 1,787-square-foot duplex has two residences, one of which has been updated. Both units are currently rented. One lease has been renewed for a year, while the other runs through December, providing different lease timelines across the property.
The Chattanooga property is situated in relation to Volkswagen, Hixson, East Brainerd, downtown Chattanooga, and the Harrison waterfront.
The Chattanooga property is situated in relation to Volkswagen, Hixson, East Brainerd, downtown Chattanooga, and the Harrison waterfront.
Key Highlights
- 1,787‑square‑foot duplex built in 1966
- Both units are currently rented
- One lease renewed for a year; the other ends in December
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,544
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,880
$350.9K
Cap Rate 7%
$250,629
$250.6K
Cap Rate 9%
$194,933
$194.9K
Market Conditions
NOI Build-Up for 1,787 SF
Gross rent
$26.8K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$25.1K $14.03/SF
− OpEx
−$7.5K −$4.21/SF
NOI
$17.5K $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%
$350,880
Cap Rate 7%
$250,629
Cap Rate 9%
$194,933
Alternative Uses
Best Use
Multifamily LT 5
$250.6K
$219.3K – $292.4K
NOI $17,544 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$224.9K
$196.8K – $262.4K
NOI $15,743 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$394.7K
$345.3K – $460.5K
NOI $27,627 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
434
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
$229,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Chattanooga, TN
Properties on Market for Duplexes in Chattanooga
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, with one tenancy approaching its December expiration.
Where is this duplex located?
The property is located at 4831 Bonny Lake Ln Chattanooga, TN.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,787‑square‑foot duplex built in 1966; Both units are currently rented; One lease renewed for a year; the other ends in December
