Furnished Two-Unit
For Sale
$400,000
670 Tremont Pl, Chattanooga, TN 37405
Two furnished units offer separate living areas, kitchens, laundry facilities, and private outdoor spaces.
Property Size1,803 SF
Price / SF$221.85
Days on Market40
Property Features for 670 Tremont Pl
General Information
Standard status
Active
Size
1,803 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
2
Amenities
covered front porch
covered stoop
private patio
washer and dryer
gas fireplace
mini-split systems
white picket fence
Building Details
Year Built
1940
Listing Agency:
GRATEFUL ACRES REALTY
(931) 367-1584
Listed By:
MaKenzie Griffis · License #373232
Source:
Grayfoxrealty
Added: Jul 21
Changed: Aug 27
Last Checked: Aug 29 at 12:00PM
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 GRATEFUL ACRES REALTY
Investment Insights
Based on property information with market context.
This furnished duplex contains two distinct residential units with practical layouts and separate outdoor areas. Unit 670A includes a covered porch, hardwood flooring, a gas fireplace, a kitchen with tile finishes and appliances, a breakfast nook, a private patio, and a dedicated laundry room with washer and dryer. Its second bedroom also includes an attached office nook. Unit 670B offers a covered entry, landscaped exterior, open kitchen arrangement, in-unit laundry area, and a second bedroom that can serve as office space. Mini-split systems provide heating and cooling in the living room and primary bedroom.
The property is located at 670 Tremont Pl in Chattanooga, Tennessee. Built in 1940, it is furnished throughout and configured for multi-unit living or an investment use as described in the property information.
The property is located at 670 Tremont Pl in Chattanooga, Tennessee. Built in 1940, it is furnished throughout and configured for multi-unit living or an investment use as described in the property information.
Key Highlights
- Two‑unit duplex with furnishings included
- 1,803 square feet of property size
- Built in 1940
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
$17,701
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
4.43%
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%
$354,020
$354.0K
Cap Rate 7%
$252,871
$252.9K
Cap Rate 9%
$196,678
$196.7K
Market Conditions
NOI Build-Up for 1,803 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
$27.0K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$25.3K $14.03/SF
− OpEx
−$7.6K −$4.21/SF
NOI
$17.7K $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%
$354,020
Cap Rate 7%
$252,871
Cap Rate 9%
$196,678
Alternative Uses
Best Use
Multifamily LT 5
$252.9K
$221.3K – $295.0K
NOI $17,701 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$226.9K
$198.6K – $264.7K
NOI $15,884 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$398.2K
$348.4K – $464.6K
NOI $27,874 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 37405, TN
18,231
Population
9,959
Households
1.8
Avg Household Size
36
Median Age
53%
College-Educated
92%
High-School Grad
54.3 sq mi
ZIP Area
336
Density / Sq Mi
$77,850
Median Household Income
$51,748
Median Earnings
$1,276
Median Rent
$416,900
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 furnished units offer separate living areas, kitchens, laundry facilities, and private outdoor spaces.
Where is this duplex located?
The property is located at 670 Tremont Pl Chattanooga, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex with furnishings included; 1,803 square feet of property size; Built in 1940
