Remodeled Duplex Investment
For Sale
$370,000
541 Cedar Glen Cir, Chattanooga, TN 37412
Fully occupied two-unit property with separate entrances, private porches, and updates across both residences.
Property Size2,372 SF
Price / SF$155.99
Days on Market66
Property Features for 541 Cedar Glen Cir
General Information
Standard status
Active
Size
2,372 SF
Property subtype
Residential Income
Building Details
Year Built
1977
Listing Agency:
Keller Williams Realty
Listed By:
Kidist Asay · License #TN358452
(408) 784-4857
Source:
Searchchattanoogahomesnow
Added: Jun 29
Changed: Aug 31
Last Checked: Sep 1 at 7:45PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1977, this duplex contains two separately accessed residences with individual porches. The larger unit offers three bedrooms and two bathrooms and received a full renovation 3 years ago, including tile floors, granite countertops, and HVAC installed less than 1 year ago. The second residence includes two bedrooms and two bathrooms, with new flooring throughout, an updated primary bathroom, a new water heater, and HVAC that is 2-3 years old.
Both units are occupied and share a roof replaced 2 years ago. The combination of distinct unit layouts, private outdoor entries, and recent improvements provides a clearly defined duplex configuration for residential income ownership.
Both units are occupied and share a roof replaced 2 years ago. The combination of distinct unit layouts, private outdoor entries, and recent improvements provides a clearly defined duplex configuration for residential income ownership.
Key Highlights
- Fully occupied duplex with two separately accessed residences
- Unit 1: 3BR/2BA; fully remodeled 3 years ago with tile flooring and granite countertops
- Unit 2: 2BR/2BA with new flooring, updated master bath, and new water heater
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,287
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$465,740
$465.7K
Cap Rate 7%
$332,671
$332.7K
Cap Rate 9%
$258,744
$258.7K
Market Conditions
NOI Build-Up for 2,372 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.6K $15.00/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$33.3K $14.03/SF
− OpEx
−$10.0K −$4.21/SF
NOI
$23.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$465,740
Cap Rate 7%
$332,671
Cap Rate 9%
$258,744
Alternative Uses
Best Use
Multifamily LT 5
$332.7K
$291.1K – $388.1K
NOI $23,287 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$298.5K
$261.2K – $348.3K
NOI $20,897 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$523.9K
$458.4K – $611.2K
NOI $36,671 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 37412, TN
21,881
Population
10,305
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.7 sq mi
ZIP Area
2,515
Density / Sq Mi
$56,600
Median Household Income
$37,858
Median Earnings
$1,120
Median Rent
$182,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied two-unit property with separate entrances, private porches, and updates across both residences.
Where is this duplex located?
The property is located at 541 Cedar Glen Cir Chattanooga, TN.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Fully occupied duplex with two separately accessed residences; Unit 1: 3BR/2BA; fully remodeled 3 years ago with tile flooring and granite countertops; Unit 2: 2BR/2BA with new flooring, updated master bath, and new water heater
