2-Unit Rental
For Sale
$249,900
7822 Basswood Drive #7822/7824, Chattanooga, TN 37416
Both residences are leased, with separate utility meters and 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%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$25,800
Building Details
Building Size
1,868 SF
Year Built
1969
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
REAL Broker
Listed By:
McKenna Blevins · License #384402
(423) 619-5360
Source:
Homefirstteam.kw
Added: Sep 27
Changed: Sep 29
Last Checked: Oct 7 at 8:54AM
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 2-bedroom, 1-bathroom residences, both occupied by tenants. One lease has a 6-month term and the other is month-to-month. Each unit has a refrigerator and washer/dryer hookups; one also has updated flooring and a newer bathroom vanity.
Utilities are individually metered and paid by tenants. The property is near Amazon and Volkswagen, with access to interstate routes and nearby shopping and everyday services.
Utilities are individually metered and paid by tenants. The property is near Amazon and Volkswagen, with access to interstate routes and nearby shopping and everyday services.
Key Highlights
- Two occupied units, each with 2 bedrooms and 1 bathroom
- One 6‑month lease and one month‑to‑month lease
- Separate utility meters; tenants pay utilities
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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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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, with separate utility meters and 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; One 6‑month lease and one month‑to‑month lease; Separate utility meters; tenants pay utilities
