Two-Unit Duplex with Interior
For Sale
$249,900
7822 Basswood Drive 7822/7824, Chattanooga, TN 37416
Both residences are leased and separately metered, with tenant-paid utilities.
Property Size1,868 SF
Days on Market11
Property Features for 7822 Basswood Drive 7822/7824
General Information
Standard status
Active
Size
1,868 SF
Property subtype
Duplex
Occupancy
100%
Financials
Gross Income
$25,800
Average Monthly Rent
$1,075
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,315
Building Details
Building Size
1,868 SF
Year Built
1969
Buildings
1
Tenancy
Multi
Listing Agency:
REAL Broker
Listed By:
McKenna Blevins · License #384402
(423) 619-5360
Source:
Gracefrankgroup
Added: Sep 27
Changed: Oct 2
Last Checked: Oct 7 at 5:14PM
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 REAL Broker
Investment Insights
Based on property information with market context.
Built in 1969, this duplex contains two residences, each arranged with two bedrooms and one bathroom. Both units are occupied. One has a six-month lease and received flooring updates throughout along with a replacement bathroom vanity; the other is leased month to month. Each residence includes a refrigerator and washer/dryer hookups, and utilities are paid by the tenants through individual meters.
The property is in Chattanooga, near Amazon and Volkswagen and with access to interstate routes. Showings require advance notice because the units are occupied.
The property is in Chattanooga, near Amazon and Volkswagen and with access to interstate routes. Showings require advance notice because the units are occupied.
Key Highlights
- Two occupied units, each with 2 bedrooms and 1 bathroom
- Separate utility meters for both residences; tenants pay utilities
- One unit has a 6‑month lease; the other is month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,339
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$366,780
$366.8K
Cap Rate 7%
$261,986
$262.0K
Cap Rate 9%
$203,767
$203.8K
Market Conditions
NOI Build-Up for 1,868 SF
Gross rent
$28.0K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$26.2K $14.03/SF
− OpEx
−$7.9K −$4.21/SF
NOI
$18.3K $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 Rate 5%
$366,780
Cap Rate 7%
$261,986
Cap Rate 9%
$203,767
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.7K
NOI $18,339 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$235.1K
$205.7K – $274.3K
NOI $16,456 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$412.6K
$361.0K – $481.3K
NOI $28,879 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 37416, TN
14,844
Population
6,598
Households
2.2
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
20.5 sq mi
ZIP Area
724
Density / Sq Mi
$65,083
Median Household Income
$37,379
Median Earnings
$1,086
Median Rent
$229,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and separately metered, with tenant-paid utilities.
Where is this duplex located?
The property is located at 7822 Basswood Drive 7822/7824 Chattanooga, TN.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two occupied units, each with 2 bedrooms and 1 bathroom; Separate utility meters for both residences; tenants pay utilities; One unit has a 6‑month lease; the other is month to month
