Multiple Offers Received and seller is calling for highest and best by noon Saturday July 13th. Attention investors! Don't miss out on this investment opportunity in Chattanooga, Tennessee just minutes away from Chickamauga Lake in the Hwy 58 area! This duplex currently has a gross monthly rent of $2525. 5056 and 5058 rented at $1250 each (5056 has a pet rent of $25/mo), 1 year leases are up in 8/31/24 and both units include new HVAC. There is potential to increase gross monthly rents to $2560+ since the 2024 HUD Small Area Fair Market Rents are $1,280 for a 2 bedroom unit in 37416. The property is professionally managed by a property management firm.
Offers will need a contingency to view within the due diligence period. Please do not disturb tenants.
Sold for $295,000
$295,000
5056 Shoals Ln, Chattanooga, TN 37416
8beds
2,220sqft
Duplex
Built in 1971
-- sqft lot
$343,600 Zestimate®
$133/sqft
$1,383 Estimated rent
Home value
$343,600
$320,000 - $371,000
$1,383/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Corey Ballew 423-529-0696,
REAL Broker
Bought with:
Daniel Ciraco, 372215
Source: Greater Chattanooga Realtors,MLS#: 1395430
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 2
- 1/2 bathrooms: 2
Heating
- Central, Electric
Cooling
- Central Air, Electric
Features
- Eat-in Kitchen
- Basement: Partial
- Has fireplace: No
Interior area
- Total structure area: 2,220
- Total interior livable area: 2,220 sqft
Property
Parking
- Parking features: Off Street
Features
- Levels: Two
Lot
- Size: 0.35 Acres
- Dimensions: 100 x 152.2
- Features: Gentle Sloping
Details
- Parcel number: 112a A 016
- Special conditions: Investor
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Brick
- Roof: Shingle
Condition
- New construction: No
- Year built: 1971
Utilities & green energy
- Sewer: Septic Tank
Community & HOA
Community
- Features: None
- Subdivision: Lake Shoals
HOA
- Has HOA: No
Location
- Region: Chattanooga
Financial & listing details
- Price per square foot: $133/sqft
- Tax assessed value: $285,600
- Annual tax amount: $1,226
- Date on market: 8/8/2024
- Listing terms: Cash,Conventional
- Tenant pays: All Utilities
Price history
| Date | Event | Price |
|---|---|---|
| 10/11/2025 | Listing removed | $1,300$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/8/2025 | Listed for rent | $1,300$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/4/2025 | Listing removed | $1,300$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/16/2025 | Listed for rent | $1,300+4%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 8/28/2024 | Sold | $295,000$133/sqft |
Source: Greater Chattanooga Realtors #1395430 Report a problem | ||
| 8/8/2024 | Contingent | $295,000$133/sqft |
Source: Greater Chattanooga Realtors #1395430 Report a problem | ||
| 8/8/2024 | Listed for sale | $295,000$133/sqft |
Source: Greater Chattanooga Realtors #1395430 Report a problem | ||
| 7/22/2024 | Listing removed | -- |
Source: Greater Chattanooga Realtors #1395430 Report a problem | ||
| 7/13/2024 | Contingent | $295,000$133/sqft |
Source: Greater Chattanooga Realtors #1395430 Report a problem | ||
| 7/11/2024 | Listed for sale | $295,000+68.6%$133/sqft |
Source: Greater Chattanooga Realtors #1395430 Report a problem | ||
| 8/19/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 7/2/2023 | Listed for rent | $1,250$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/26/2023 | Sold | $175,000$79/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,750 +42.7% | $114,240 +111.6% |
| 2024 | $1,226 | $54,000 |
| 2023 | $1,226 | $54,000 |
| 2022 | $1,226 +1.5% | $54,000 |
| 2021 | $1,208 +16.2% | $54,000 +43.6% |
| 2020 | $1,040 | $37,600 |
| 2019 | $1,040 | $37,600 |
| 2018 | $1,040 -1.7% | $37,600 |
| 2017 | $1,058 +0.5% | $37,600 |
| 2016 | $1,052 | -- |
| 2015 | $1,052 | $37,400 |
| 2014 | $1,052 -6.3% | -- |
| 2013 | $1,123 | $37,400 -7.9% |
| 2012 | $1,123 | $40,600 |
| 2011 | $1,123 -5% | $40,600 -5% |
| 2010 | $1,181 | $42,720 |
| 2009 | $1,181 | $42,720 +8.1% |
| 2008 | -- | $39,520 |
| 2007 | -- | $39,520 |
| 2006 | -- | $39,520 |
| 2005 | -- | $39,520 +6.8% |
| 2004 | -- | $37,000 |
| 2003 | -- | $37,000 |
| 2002 | -- | $37,000 |
| 2001 | -- | $37,000 +11.7% |
| 2000 | -- | $33,120 |
Find assessor info on the county website
Neighborhood: 37416
Nearby homes
- $344,4008 bd4 ba2.2k sqft5056 Shoals Ln #5056, Chattanooga, TN 37416Off Market
- $--2 bd2 ba1.1k sqft5056 Shoals Ln #1, Chattanooga, TN 37416Off Market
- $208,0002 bd1 ba950 sqft5058 Shoals Ln, Chattanooga, TN 37416Off Market
- $280,100-- bd2 ba2.2k sqft5048 Shoals Ln, Chattanooga, TN 37416Off Market
- $--2 bd1 ba1.1k sqft5048 Shoals Ln #A, Chattanooga, TN 37416Off Market
- $--2 bd2 ba1.1k sqft5050 Shoals Ln, Chattanooga, TN 37416Off Market
- $266,900-- bd2 ba1.7k sqft5064 Shoals Ln, Chattanooga, TN 37416Off Market
- $220,000-- bd1 ba1.7k sqft6240 Canoe Ln, Chattanooga, TN 37416Off Market
Nearby schools
GreatSchools rating
- 2/10Harrison Elementary SchoolGrades: PK-5Distance: 2.1 mi
- 5/10Brown Middle SchoolGrades: 6-8Distance: 1.8 mi
- 3/10Central High SchoolGrades: 9-12Distance: 1.8 mi
Schools provided by the listing agent
- Elementary: Harrison Elementary
- Middle: Brown Middle
- High: Central High School
Source: Greater Chattanooga Realtors. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$343,600
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$343,600
- Tennessee
- Hamilton County
- Chattanooga
- 37416
- 5056 Shoals Ln
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