Duplex with Renovation
For Sale
$550,000
920 Glenwood Dr, Chattanooga, TN 37406
Two-unit residential income property with one completed unit and a second unit requiring renovation.
Property Size3,700 SF
Price / SF$148.65
Days on Market107
Property Features for 920 Glenwood Dr
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Glenwood Neighborhood Association
Additional Details
Multifamily Units
2
Building Details
Year Built
1993
Listing Agency:
Greater Downtown Realty dba Keller Williams Realty
Listed By:
Asher Black 4232084943 · License #359562
(423) 208-4943
Source:
Smokymountainshomefinder
Added: Jul 20
Changed: Nov 1
Last Checked: Nov 1 at 5:56AM
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 Greater Downtown Realty dba Keller Williams Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1993, this duplex contains two residential units totaling 3,700 square feet. One unit is finished, while the second measures 2,000 square feet and is configured with 8 bedrooms and 2 bathrooms. The unfinished unit requires renovation, providing a clearly defined improvement component within the property.
The asset is located at 920 Glenwood Dr in Chattanooga, Tennessee, and is offered for sale as a residential income property. The existing two-unit configuration supports continued multifamily use, subject to applicable requirements.
The asset is located at 920 Glenwood Dr in Chattanooga, Tennessee, and is offered for sale as a residential income property. The existing two-unit configuration supports continued multifamily use, subject to applicable requirements.
Key Highlights
- Two‑unit duplex configuration
- 3,700 square feet total property size
- One finished residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,325
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,500
$726.5K
Cap Rate 7%
$518,929
$518.9K
Cap Rate 9%
$403,611
$403.6K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$55.5K $15.00/SF
− Vacancy
−$3.6K −$0.98/SF
EGI
$51.9K $14.03/SF
− OpEx
−$15.6K −$4.21/SF
NOI
$36.3K $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%
$726,500
Cap Rate 7%
$518,929
Cap Rate 9%
$403,611
Alternative Uses
Best Use
Multifamily LT 5
$518.9K
$454.1K – $605.4K
NOI $36,325 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$465.7K
$407.5K – $543.3K
NOI $32,596 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$817.2K
$715.0K – $953.4K
NOI $57,201 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,020
Businesses Nearby
Explore this area
Business Placement
Demographics for 37406, TN
12,422
Population
5,894
Households
2.1
Avg Household Size
36
Median Age
16%
College-Educated
85%
High-School Grad
12.1 sq mi
ZIP Area
1,027
Density / Sq Mi
$42,993
Median Household Income
$31,076
Median Earnings
$944
Median Rent
$150,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with one completed unit and a second unit requiring renovation.
Where is this duplex located?
The property is located at 920 Glenwood Dr Chattanooga, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 3,700 square feet total property size; One finished residential unit
