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    506 Hargraves Avenue Chattanooga, TN 37411

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    For Sale
    $255,000

    MULTI_FAMILY - Contemporary - Chattanooga, TN

    Property size:
    1,378 SF
    Lot size:
    0.30 Acres
    Price / SF:
    $185/SF
    Added:
    Apr 22, 2026
    Days on Market:
    14
    Last Refresh:
    May 5 at 12:06 am

    Property Features for 506 Hargraves Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 4
    Parking features
    Driveway, Off Street
    Window features
    Insulated Windows
    Patio and Porch features
    Porch
    Interior features
    Ceiling Fan(s), Entrance Foyer, Pantry, Tub/shower Combo
    Fencing
    Fenced
    Basement
    Crawl Space
    Appliances
    Free-Standing Refrigerator, Electric Range
    Standard status
    Active
    APN
    147o Q 020
    Size
    1,378 SF
    Lot size
    0.30 Acres

    Taxes and HOA fees

    Tax Description
    LT 60 & PT LT 56 SHAWNEE PARK PB16 PG27 0067 05 10
    Tax Annual Amount
    2262

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Carpet, Tile, Vinyl
    Roof type
    Asphalt, Shingle
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Candice Neal
    Candice Neal

    Listing agent Candice Neal License #365457

    Listing office Real Estate Partners Chattanooga LLC 2115 Stein Drive, Chattanooga, TN

    Listing date Apr 22, 2026

    MLS# 1533085 Listing URL

    Copyright © 2026 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Chattanooga Duplex: Income Potential

    This fully occupied duplex in Chattanooga, Tennessee, generates $1,900 per month in rental income. Each of the two units includes 2 bedrooms, 1 bath, and washer/dryer hookups. The property offers strong cash-flow potential with stable tenants. It presents an ideal opportunity for investors seeking immediate income in a growing Chattanooga market. The property has been meticulously maintained with little to no deferred maintenance. Central HVAC was installed in 2019, along with several new vinyl windows and new carpet, also in 2019. Situated on a level lot on a quiet street, the property includes a shared fenced-in backyard. Both sides are occupied at $950 per month each, with leases in place and long-term tenants. The property size is 1378 square feet and the lot size is 0.3 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chattanooga
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.231461
    Latitude
    35.026859

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    FAQs

    What type of property is this?
    Duplex - Fully occupied duplex in Chattanooga, TN, generating $1,900 monthly income.
    Where is this duplex located?
    The property is located at 506 Hargraves Avenue Chattanooga, TN.
    What is the asking price?
    The asking price for this property is $255,000.
    What are key features of this property?
    This property features: Generates $1,900/month in rental income with stable tenants.; Fully occupied duplex provides immediate cash flow.; Meticulously maintained with central HVAC (2019), new vinyl windows (2019), and new carpet (2019).
    (706) 273-9176
    We can help!
    Listing Contact
    Candice Neal
    Candice Neal
    Real Estate License ID: 365457
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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