Furnished Quadplex with Mountain
For Sale
$985,000
549 S Crest Rd, Chattanooga, TN 37404
Four furnished units include full kitchens, laundry appliances, and spacious living and dining areas.
Property Size4,420 SF
Price / SF$222.85
Days on Market14
Property Features for 549 S Crest Rd
General Information
Standard status
Active
Size
4,420 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 1BR, 1 x 2BR
Multifamily Units
4
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$10,915
Amenities
washer/dryer
dishwasher
refrigerator
Listing Agency:
DIY Flat Fee.com
(888) 601-3771
Listed By:
Darrell Lewis · License #212664
(888) 601-3771
Source:
Exprealty
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 20 at 12:28PM
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 DIY Flat Fee.com
Investment Insights
Based on property information with market context.
This 4420 SF quadplex contains three 1-bedroom units and one 2-bedroom unit currently configured and operating as a 3-bedroom. The furnished property includes full kitchens, living and dining areas, washers and dryers, dishwashers, and refrigerators in each unit. Prefinished hardwood floors, abundant natural light, and original architectural character are complemented by tasteful updates. The units are professionally maintained and in excellent overall condition.
Located at 549 S Crest Rd in Chattanooga, the property sits atop historic Missionary Ridge with views toward downtown Chattanooga and Lookout Mountain. It has been operated as Furnished Finder rentals, providing an established furnished rental format. Cosmetic kitchen updates remain an option for an owner seeking to modify the interiors while continuing the current rental approach.
Located at 549 S Crest Rd in Chattanooga, the property sits atop historic Missionary Ridge with views toward downtown Chattanooga and Lookout Mountain. It has been operated as Furnished Finder rentals, providing an established furnished rental format. Cosmetic kitchen updates remain an option for an owner seeking to modify the interiors while continuing the current rental approach.
Key Highlights
- 4420 SF quadplex with four furnished units
- Unit mix includes three 1‑bedroom units and one 2‑bedroom unit operating as a 3‑bedroom
- Each unit has a full kitchen, washer/dryer, dishwasher, and refrigerator
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
$43,393
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
4.41%
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%
$867,860
$867.9K
Cap Rate 7%
$619,900
$619.9K
Cap Rate 9%
$482,144
$482.1K
Market Conditions
NOI Build-Up for 4,420 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
$66.3K $15.00/SF
− Vacancy
−$4.3K −$0.98/SF
EGI
$62.0K $14.03/SF
− OpEx
−$18.6K −$4.21/SF
NOI
$43.4K $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 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%
$867,860
Cap Rate 7%
$619,900
Cap Rate 9%
$482,144
Alternative Uses
Best Use
Multifamily LT 5
$619.9K
$542.4K – $723.2K
NOI $43,393 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$556.3K
$486.7K – $649.0K
NOI $38,939 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$976.2K
$854.2K – $1.14M
NOI $68,332 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
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?
Quadplex - Four furnished units include full kitchens, laundry appliances, and spacious living and dining areas.
Where is this quadplex located?
The property is located at 549 S Crest Rd Chattanooga, TN.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 4420 SF quadplex with four furnished units; Unit mix includes three 1‑bedroom units and one 2‑bedroom unit operating as a 3‑bedroom; Each unit has a full kitchen, washer/dryer, dishwasher, and refrigerator
