G
Seller's Agent in 2022
Grace Frank
Chattanooga Real Estate Group LLC
1201 E 34th St Chattanooga, TN 37407
Clifton Hills NeighborhoodEstimated Value: $142,000 - $319,000
--
Bed
4
Baths
2,328
Sq Ft
$113/Sq Ft
Est. Value
Highlights
- No HOA
- Brick Exterior Construction
- Central Heating and Cooling System
- Eat-In Kitchen
- Living Room
- 1-minute walk to Caruthers Park
About This Home
As of March 2022Incredible opportunity to purchase two duplexes in East Lake with excellent rental income history. 1201 & 1203 E 34th St are neighboring two-story duplexes being sold together as a package deal; both were built in 2004 and feature 2,328 sqft and low maintenance brick and vinyl siding exteriors. All four units boast 3 bedrooms, 2 full bathrooms, living rooms, eat-in kitchens, off-street parking, and access to the large fenced yard. Additionally, they are adjacent to a city park. A contract expiring 8/29/39 with the Chattanooga Housing Authority provides for project based vouchers for these rental units (vouchers go with the property, not the tenants). These vouchers provides a gross monthly income of up to $929 per unit even during periods of vacancy (up to 60 days) which ensures consistent cash flow and minimizes some of the risk associated with investment properties. The duplexes are currently 100% occupied with a $3,488 GMI. Only half of the vouchers are being used, so the GMI could easily be increased to $3,716 by utilizing the two remaining vouchers. The profit and loss statement for 2021 shows a gross income of $42,032. Situated a couple blocks off of Rossville Blvd, these duplexes are just minutes from downtown Chattanooga, popular Southside, St Elmo, Lookout Mountain, Rossville, and I-24 access. Since the properties are tenant occupied, showings can only be scheduled after an accepted letter of intent or accepted contract.
Last Agent to Sell the Property
Grace Frank
Chattanooga Real Estate Group LLC Listed on: 01/10/2022
Last Buyer's Agent
Tyler Michael
Keller Williams Realty License #353650
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,196
Year Built
- Built in 2004
Lot Details
- 8,276 Sq Ft Lot
- Lot Dimensions are 75.09x80.0
- Fenced
- Level Lot
Parking
- Off-Street Parking
Home Design
- Duplex
- Brick Exterior Construction
- Shingle Roof
Interior Spaces
- 2,328 Sq Ft Home
- 2-Story Property
- Living Room
- Basement
- Crawl Space
- Eat-In Kitchen
- Washer and Dryer Hookup
Schools
- Calvin Donaldson Elementary School
- East Lake Academy Of Fine Arts Middle School
- Howard School Of Academics & Tech High School
Additional Features
- Flood Insurance May Be Required
- Central Heating and Cooling System
Listing and Financial Details
- Assessor Parcel Number 156p E 027
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Gross Income $20,928
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jan 10, 2022
Closed on
Mar 15, 2022
Sold by
David Hudson James and David Julianne
Bought by
Hua Adam
Seller's Agent
Grace Frank
Chattanooga Real Estate Group LLC
Buyer's Agent
Tyler Michael
Keller Williams Realty
List Price
$498,000
Sold Price
$242,000
Premium/Discount to List
-$256,000
-51.41%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$21,544
Avg. Annual Appreciation
2.28%
Original Mortgage
$169,400
Outstanding Balance
$157,286
Interest Rate
3.85%
Mortgage Type
New Conventional
Estimated Equity
$106,258
Purchase Details
Listed on
Mar 1, 2019
Closed on
Aug 30, 2019
Sold by
Wildcat Properties Two Llc
Bought by
Hudson James David and Hudson Julianne
Seller's Agent
Jamie Glenn
Berkshire Hathaway HomeServices Realty Center
Buyer's Agent
Tim West
Keller Williams Realty
List Price
$160,000
Sold Price
$142,500
Premium/Discount to List
-$17,500
-10.94%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.08%
Original Mortgage
$106,875
Interest Rate
3.8%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 28, 2015
Sold by
Vaughn James Watson and Hisey Matthew Thomas
Bought by
Wildcat Properties Two Llc
Purchase Details
Closed on
Jul 8, 2015
Sold by
Fannie Mae
Bought by
Vaughn James Watson and Hisey Matthew Thomas
Purchase Details
Closed on
Jun 13, 2013
Sold by
Jenkins Gwendolyn R and Jenkins Eric
Bought by
Lhp Legacy Holdings Llc
Purchase Details
Closed on
Jul 29, 2003
Sold by
Jenkins Eric
Bought by
Jenkins Eric and Jenkins Gwendolyn
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$90,000
Interest Rate
5.17%
Mortgage Type
Construction
Purchase Details
Closed on
Dec 26, 2001
Sold by
Flengas Demetreos and Flengas Amy R
Bought by
Jenkins Eric
Purchase Details
Closed on
Jul 17, 1996
Sold by
White James Franklin
Bought by
Flengas Amy R
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Hua Adam | $242,000 | Bridge City Abstract | |
| Hua Adam | $242,000 | Bridge City Abstract | |
| Hudson James David | $142,500 | First Title | |
| Hudson James David | $142,500 | First Title | |
| Wildcat Properties Two Llc | -- | None Available | |
| Wildcat Properties Two Llc | -- | None Available | |
| Vaughn James Watson | $75,000 | Associates Closing & Title | |
| Vaughn James Watson | $75,000 | Associates Closing & Title | |
| Lhp Legacy Holdings Llc | -- | Ensign Title & Escrow Inc | |
| Lhp Legacy Holdings Llc | -- | Ensign Title & Escrow Inc | |
| Lhp Legacy Holdings Llc | -- | Ensign Title & Escrow Inc | |
| Lhp Legacy Holdings Llc | -- | Ensign Title & Escrow Inc | |
| Jenkins Eric | -- | Ensign Title & Escrow Inc | |
| Jenkins Eric | -- | Ensign Title & Escrow Inc | |
| Jenkins Eric | -- | Ensign Title & Escrow Inc | |
| Jenkins Eric | -- | Ensign Title & Escrow Inc | |
| Jenkins Eric | $6,000 | -- | |
| Jenkins Eric | $6,000 | -- | |
| Flengas Amy R | $1,000 | -- | |
| Flengas Amy R | $1,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Hua Adam | $169,400 | |
| Previous Owner | Hudson James David | $106,875 | |
| Previous Owner | Jenkins Eric | $90,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/17/2022 03/17/22 | Sold | $242,000 | -51.4% | $104 / Sq Ft | |
| 01/23/2022 01/23/22 | Pending | -- | -- | -- | |
| 01/10/2022 01/10/22 | For Sale | $498,000 | +249.5% | $214 / Sq Ft | |
| 08/30/2019 08/30/19 | Sold | $142,500 | -10.9% | $61 / Sq Ft | View Prior Sale |
| 07/20/2019 07/20/19 | Pending | -- | -- | -- | |
| 03/01/2019 03/01/19 | For Sale | $160,000 | -- | $69 / Sq Ft |
Source: Greater Chattanooga REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $968 | $63,840 | $0 | $0 |
| 2024 | $1,206 | $53,920 | $0 | $0 |
| 2023 | $1,206 | $53,920 | $0 | $0 |
| 2022 | $1,206 | $53,920 | $0 | $0 |
| 2021 | $1,206 | $53,920 | $0 | $0 |
| 2020 | $1,205 | $43,560 | $0 | $0 |
| 2019 | $1,205 | $43,560 | $0 | $0 |
| 2018 | $1,118 | $43,560 | $0 | $0 |
| 2017 | $1,205 | $43,560 | $0 | $0 |
| 2016 | $1,205 | $0 | $0 | $0 |
| 2015 | $2,326 | $43,560 | $0 | $0 |
| 2014 | $2,326 | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
-
T
Buyer's Agent in 2022
Tyler Michael
Keller Williams Realty
-
J
Seller's Agent in 2019
Jamie Glenn
Berkshire Hathaway HomeServices Realty Center
-
Tim West
Buyer's Agent in 2019
Tim West
Keller Williams Realty
(423) 763-1001
295 Total Sales
Map
Source: Greater Chattanooga REALTORS®
MLS Number: 1348268
APN: 156P-E-027
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