Duplex with Updated
New
For Sale
$329,900
9522 Fuller Road, Chattanooga, TN 37421
Residential duplex with one refreshed unit and a second unit requiring updates, located within the East Hamilton School District.
Property Size2,232 SF
Days on Market3
Property Features for 9522 Fuller Road
General Information
Standard status
Active
Size
2,232 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,113
Building Details
Building Size
2,232 SF
Year Built
1987
Listing Agency:
Bentwood Property Group
Listed By:
Brad Epperson · License #282669
(423) 421-3323
Source:
Gracefrankgroup
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:58PM
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 Bentwood Property Group
Investment Insights
Based on property information with market context.
This duplex was built in 1987 and includes Unit A and Unit B. Unit A has been recently updated and is described as being in average to good condition. Unit B has not received recent updates and is in average condition.
The property is located in the East Hamilton School District at 9522 Fuller Road in Chattanooga, Tennessee. It has remained under the ownership of the same family for more than 40 years.
The property is located in the East Hamilton School District at 9522 Fuller Road in Chattanooga, Tennessee. It has remained under the ownership of the same family for more than 40 years.
Key Highlights
- Duplex built in 1987
- Unit A recently updated and in average to good condition
- Unit B has not been recently updated and is in average condition
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
$21,913
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
6.64%
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%
$438,260
$438.3K
Cap Rate 7%
$313,043
$313.0K
Cap Rate 9%
$243,478
$243.5K
Market Conditions
NOI Build-Up for 2,232 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
$33.5K $15.00/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$31.3K $14.03/SF
− OpEx
−$9.4K −$4.21/SF
NOI
$21.9K $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%
$438,260
Cap Rate 7%
$313,043
Cap Rate 9%
$243,478
Alternative Uses
Best Use
Multifamily LT 5
$313.0K
$273.9K – $365.2K
NOI $21,913 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$280.9K
$245.8K – $327.7K
NOI $19,663 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$492.9K
$431.3K – $575.1K
NOI $34,506 @ 7.0% cap · market cap 10.46%
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
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 37421, TN
51,686
Population
23,978
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
31.7 sq mi
ZIP Area
1,630
Density / Sq Mi
$79,958
Median Household Income
$44,452
Median Earnings
$1,313
Median Rent
$299,600
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 - Residential duplex with one refreshed unit and a second unit requiring updates, located within the East Hamilton School District.
Where is this duplex located?
The property is located at 9522 Fuller Road Chattanooga, TN.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Duplex built in 1987; Unit A recently updated and in average to good condition; Unit B has not been recently updated and is in average condition
