Updated Duplex
For Sale
$370,000
541 Cedar Glen Circle, Chattanooga, TN 37412
Residential Income, Chattanooga, TN
Property Size2,372 SF
Lot Size0.31 Acres
Price / SF$155.99
Days on Market47
Property Features for 541 Cedar Glen Circle
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 3
Parking features
Off Street
Patio and Porch features
Patio, Deck
Interior features
Eat-in Kitchen, Granite Counters, Storage
Exterior features
Private Entrance
Basement
Crawl Space
Appliances
Water Heater, Refrigerator, Electric Water Heater, Electric Range, Dishwasher
Subdivision
Cedar Glen Ests
Lot features
Level
Elementary school
Spring Creek Elementary
Middle school
East Ridge Middle
High school
East Ridge High
Directions
From I-75 South, take Exit 1 (East Ridge). Proceed south on Ringgold Road (Hwy 41). Turn left onto Frawley Road. Property on left at the Corner of Cedar Glen Circle.
Standard status
Active
APN
170b A 058
Size
2,372 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
LOT 1 CEDAR GLEN ESTATES UNIT 2 30- 380 OUT OF 170B-A-2 FOR 1981
Tax Annual Amount
2831
Legal Description
LOT 1 CEDAR GLEN ESTATES UNIT 2 30- 380 OUT OF 170B-A-2 FOR 1981
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1977
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Stone
Roof type
Shingle
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Kidist Asay · License #TN358452
(408) 784-4857
Added: Jul 14
Changed: Aug 22
Last Checked: Aug 29 at 7:06PM
MLS# 1538728
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.
Investment Insights
Based on property information with market context.
This ranch-style duplex in Chattanooga contains two separately accessed residences with private porch or patio areas. One unit provides 3 bedrooms and 2 bathrooms and received a full remodel 3 years ago, including tile flooring, granite countertops, and HVAC installed less than 1 year ago. The second unit offers 2 bedrooms and 2 bathrooms, with new flooring, an updated primary bathroom, a new water heater, and HVAC that is 2–3 years old.
The property sits on 0.31 acres and was built in 1977. Additional features include off-street parking, storage, an eat-in kitchen, central heating and cooling, a shingle roof installed 2 years ago, stone construction, and public water and sewer. Both residences are currently occupied.
The property sits on 0.31 acres and was built in 1977. Additional features include off-street parking, storage, an eat-in kitchen, central heating and cooling, a shingle roof installed 2 years ago, stone construction, and public water and sewer. Both residences are currently occupied.
Key Highlights
- Two‑unit duplex with 3BR/2BA and 2BR/2BA layouts
- Unit 1 fully remodeled 3 years ago with tile floors and granite countertops
- Unit 2 includes new flooring, an updated primary bathroom, and a 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
Lease Details
2
Residential units
100%
Occupancy
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 - Two separately entered units offer private outdoor space and updated interiors.
Where is this duplex located?
The property is located at 541 Cedar Glen Circle 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: Two‑unit duplex with 3BR/2BA and 2BR/2BA layouts; Unit 1 fully remodeled 3 years ago with tile floors and granite countertops; Unit 2 includes new flooring, an updated primary bathroom, and a new water heater
