Renovated Duplex with Off-Street
New
For Sale
$550,000
536 Central Avenue, Chattanooga, TN 37403
Residential Income, Chattanooga, TN
Property Size2,184 SF
Lot Size0.22 Acres
Price / SF$251.83
Days on Market2
Property Features for 536 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Basement, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2
Parking features
Off Street
Window features
Wood Frames
Patio and Porch features
Porch
Interior features
High Ceilings, Track Lighting
Exterior features
Private Yard, Rain Gutters
Basement
Partially Finished
Appliances
Washer/Dryer Stacked, Self Cleaning Oven, Refrigerator, Microwave, Electric Water Heater, Electric Range, Dishwasher
Subdivision
Key & Richmond Addn
Elementary school
Orchard Knob Elementary
Middle school
Orchard Knob Middle
High school
Howard School of Academics & Tech
Directions
From downtown Chattanooga, take 3rd Street towards Central and turn right. Home will be on the left. There is an alley way off of 5th Street that will take you to the last gravel driveway on the right. Branch left and park in the rear.
Standard status
Active
APN
146a Q 041
Size
2,184 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
Pt Lt K Key Richmond & Hart Tract P B B6 Pg 569
Tax Annual Amount
4962
Legal Description
Pt Lt K Key Richmond & Hart Tract P B B6 Pg 569
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Multi Units, Central Air
Water source
Public
Amenities
off-street parking
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Wood
Building materials
Brick, Wood Siding
Roof type
Shingle
Buildings
1
Listing Agency:
Zach Taylor - Chattanooga
(855) 261-2233
Listed By:
Grace Frank · License #305329
(423) 208-3834
Added: Nov 5
Last Checked: Nov 6 at 8:06AM
MLS# 1545771
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.
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Investment Insights
Based on property information with market context.
This 2,184-square-foot duplex was renovated in 2014 and sits on a 0.22-acre lot. Interior details include wood floors, exposed brick, original doors, trim and hardware, plus restored wood windows with storm windows. An open floor plan, high ceilings and track lighting shape the living spaces. The property also has a porch, private yard and off-street parking.
The building contains three bedrooms and three bathrooms. The listed appliances include a stacked washer and dryer, range, oven, refrigerator, microwave and dishwasher. Central heating and air conditioning serve the property, with public water and sewer.
The building contains three bedrooms and three bathrooms. The listed appliances include a stacked washer and dryer, range, oven, refrigerator, microwave and dishwasher. Central heating and air conditioning serve the property, with public water and sewer.
Key Highlights
- Duplex with 2,184 square feet on a 0.22‑acre lot
- Renovated in 2014
- Three bedrooms and three bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,441
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,820
$428.8K
Cap Rate 7%
$306,300
$306.3K
Cap Rate 9%
$238,233
$238.2K
Market Conditions
NOI Build-Up for 2,184 SF
Gross rent
$32.8K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$30.6K $14.03/SF
− OpEx
−$9.2K −$4.21/SF
NOI
$21.4K $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%
$428,820
Cap Rate 7%
$306,300
Cap Rate 9%
$238,233
Alternative Uses
Best Use
Multifamily LT 5
$306.3K
$268.0K – $357.4K
NOI $21,441 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$274.9K
$240.5K – $320.7K
NOI $19,240 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$482.3K
$422.1K – $562.7K
NOI $33,764 @ 7.0% cap · market cap 6.14%
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
2,125
Businesses Nearby
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Business Placement
Demographics for 37403, TN
5,666
Population
2,394
Households
2.4
Avg Household Size
26
Median Age
49%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
3,333
Density / Sq Mi
$65,750
Median Household Income
$12,410
Median Earnings
$1,253
Median Rent
$444,000
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 - Two residential units offer flexibility for owner occupancy or rental use.
Where is this duplex located?
The property is located at 536 Central Avenue Chattanooga, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Duplex with 2,184 square feet on a 0.22‑acre lot; Renovated in 2014; Three bedrooms and three bathrooms
