NOT LISTED FOR SALE

5424 Connell St Chattanooga, TN 37412

Estimated Value: $369,000 - $456,000

5 Beds
5 Baths
3,108 Sq Ft
$136/Sq Ft Est. Value

Last Sold July 02, 2024

Last sale price $440,000 $142 Per Sq Ft

Est. 4% decrease in value since last sale

Current estimated payment $2,327/month

About This Home

As of July 2024

UNIQUE MULTI-UNIT PROPERTY WITH COURTYARD, POOL, AND FULLY FURNISHED IN EAST RIDGE, TN This exceptional investment opportunity features a charming courtyard, an above-ground pool with built in deck surround, ample parking spaces and additional storage space. Property Highlights:
--Unit 1: A spacious apartment with 2 bedrooms, 1.5 baths, a loft, a living room, a kitchen, a laundry room, and a dining room/sunroom that overlooks the above-ground pool deck.
--Unit 2: A cozy apartment with 1 bedroom, 1 bath, an eat-in kitchen, a living room, and laundry hookups.
--Unit 3: An efficiency unit with a kitchenette and a full bath, offering a view of the above-ground pool deck.
--Unit 4: Another efficiency unit with a kitchenette and a full bath. Each unit is being sold fully furnished, making this property move-in ready for tenants or perfect for short-term rentals. Outdoor Amenities:
--A well-maintained above-ground pool
--A fenced courtyard area
--A covered cabana area
--Multiple covered carport parking spaces
--A long, wide driveway providing additional parking options
--Exterior storage building Seller estimates property has rental income potential of over $5000/month. Convenient location to shopping, restaurants, and interstate access--literally 8 minutes to N GA (Fort Oglethorpe area), Downtown Chattanooga, & Hamilton Place Mall areas. **Property being sold as-is** **Currently zoned R1 Single Family--Seller and family previously owner occupied** Don't miss your chance to take advantage of a fantastic investment opportunity to create a stream of passive income. Call for a showing today.

Last Agent to Sell the Property

Bonnie Bennett

Bender Realty LLC Brokerage Phone: 4238966000 License #334025 Listed on: 06/06/2024

Last Buyer's Agent

Sarah Ketterer

Greater Downtown Realty dba Keller Williams Realty License #328768

Greater Downtown Realty dba Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,899

Year Built

  • Built in 1945

Home Design

  • Quadruplex

Interior Spaces

  • 3,108 Sq Ft Home
  • Property has 3 Levels

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Parking

  • 3 Parking Spaces
  • 3 Carport Spaces

Schools

  • Spring Creek Elementary School
  • East Ridge Middle School
  • East Ridge High School

Additional Features

  • Lot Dimensions are 151 x 157
  • Central Heating and Cooling System

Listing and Financial Details

  • The owner pays for electricity, gas, water
  • Rent includes electricity, gas, water
  • Assessor Parcel Number 169G N 007

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Snyders Subdivision

Building Details

  • Gross Income $60,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,899

Year Built

Built in 1945

Lot Details

0 Sq Ft Lot

Listing Details

  • Prop. Type: Residential Income
  • Year Built: 1945
  • Unit Levels: Three Or More
  • New Construction: No
  • Building Stories: 2
  • Structure Type: Quadruplex
  • Year Built Details: Existing
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Flooring: Other
  • Total Bedrooms: 5
  • Building Area Units: Square Feet
  • Living Area: 3108
  • Living Area Units: Square Feet

Exterior Features

  • Construction Type: Other
  • Pool Private: No
  • Roof: Other
  • View: No
  • Waterfront: No

Garage/Parking

  • Attached Garage: No
  • Carport Spaces: 3
  • Carport Y N: Yes
  • Covered Parking Spaces: 3
  • Parking Features: Detached
  • Total Parking Spaces: 3

Utilities

  • Water Source: Public
  • Cooling: Central Air, Electric
  • Cooling Y N: Yes
  • Heating: Central, Electric
  • Heating Yn: Yes
  • Utilities: Electricity Available, Water Available

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Lot Info

  • Lot Size: 151 x 157
  • Lot Size Units: Acres
  • Parcel #: 169G N 007
  • Property Attached Yn: Yes

Rental Info

  • Owner Pays: Electricity, Gas, Water
  • HOA Rent Includes: Electricity, Gas, Water

Multi Family

  • Gross Income: 60000
  • Above Grade Finished Area Units: Square Feet
  • Number Of Units Total: 4

Tax Info

  • Tax Annual Amount: 1899

MLS Schools

  • Elementary School: Spring Creek Elementary School
  • High School: East Ridge High School
  • Middle Or Junior School: East Ridge Middle School

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 6, 2024
Closed on
Jul 2, 2024
Sold by
Sivley Eualia Diane and Sivley Diane
Bought by
Koon Brenden David and Koon Anna Redpath
Seller's Agent
Bonnie Bennett
Bender Realty LLC
Buyer's Agent
Sarah Ketterer
Greater Downtown Realty dba Keller Williams Realty
List Price
$475,000
Sold Price
$440,000
Premium/Discount to List
-$35,000
-7.37%
Views
42
Current Estimated Value
$423,431

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$16,569
Avg. Annual Appreciation
-2.22%
Original Mortgage
$418,000
Outstanding Balance
$411,058
Interest Rate
6.94%
Mortgage Type
Credit Line Revolving
Estimated Equity
$12,373

Purchase Details

Closed on
Sep 22, 2023
Sold by
Sivley Diane
Bought by
Sivley Diane and Sivley Richard Darrell

Purchase Details

Closed on
Dec 17, 1997
Sold by
Sivley Richard D
Bought by
Sivley Diane
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Koon Brenden David $440,000 None Listed On Document
Sivley Diane -- Hon & Kopet Title
Sivley Diane -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Koon Brenden David $418,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/02/2024 07/02/24 Sold $440,000 -7.4% $142 / Sq Ft
06/06/2024 06/06/24 Pending -- -- --
06/06/2024 06/06/24 For Sale $475,000 -- $153 / Sq Ft
Source: Realtracs

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 $1,489 $98,225 $0 $0
2024 $1,064 $47,575 $0 $0
2023 $1,659 $47,575 $0 $0
2022 $1,659 $47,575 $0 $0
2021 $1,908 $47,575 $0 $0
2020 $1,931 $41,000 $0 $0
2019 $1,931 $41,000 $0 $0
2018 $1,931 $41,000 $0 $0
2017 $1,931 $41,000 $0 $0
2016 $1,904 $0 $0 $0
2015 $1,904 $39,525 $0 $0
2014 $1,630 $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realtracs

MLS Number: 3124857

Realtracs

APN: 169G-N-007

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