$5,575 Closing Credit¹
#1504761, Listing Office: Premier Property Group Inc.
$250,000 List price
4831 Bonny Lake Ln Chattanooga, TN 37416
$2,969
Closing credit¹
1,787 sqft
0.3 acres
$140 / sqft
Multi-Family
Property details
About 4831 Bonny Lake Ln
This brick duplex offers strong potential for increased cash flow with strategic updates. Located along Jersey Pike near Bonny Oaks, just 4 miles from Volkswagen and Amazon, this property is ideally positioned for rental demand. Each unit features 2 bedrooms and 1 bathroom with a level front and back yard. One unit is currently tenant-occupied at $932/month with a long-term lease in place. With HUD Fair Market Rent in 37416 at $1,420 per unit, there's potential for a Gross Monthly Rent of $2,840 once both units are optimized. To unlock full rental potential, the interiors need cosmetic updates—flooring, paint, appliances—as well as some exterior improvements to boost curb appeal and property value. We have added some virtual renderings to show the potential. Whether you're looking to renovate and hold or add to your portfolio with upside potential, this duplex is ready for its next chapter. The vacant unit can be shown and tenant occupied unit may only be shown after an accepted offer. Please do not disturb tenants.
Highlights
Home typeDuplex
HeatingCentral, Electric
StatusActive
CoolingCentral Air, Electric
Size1,787 sqft
Lot size0.31 Acres
Year built1966
ParkingOff Street
MLS #1510597
Summary
- Appliances: None
- Basement: No
- Flooring Type: Carpet, Tile
- Attached Garage: No
- Private Pool: No
- Parking: Off Street
- Exterior: None, Patio
- Heating: Central, Electric
- Cooling: Central Air, Electric
- List Price: $250,000
- Price/SqFt: $139
- Annual Tax Amount: $1,208
- Tax Year: 2023
- Lot: Back Yard, Front Yard, Level
- Directions: From 153 Take Bonny Oaks, Left on Jersey Pike, Left on Bonny Lake Ln, property will be on the right.
- Year Built: 1966
- Stories: 1
- Living Area: 1,787 SqFt
- Lot Size: 0.31 Acres
- MLS Number: 1510597
- MLS Name: Greater Chattanooga REALTORS®
- Office Name: Real Broker
- Office Phone: (844) 591-7325
- Office Email: tnbroker@therealbrokerage.com
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2025 Greater Chattanooga Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/2/2025, 1:20:36 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$250,000
4831 Bonny Lake Ln
$2,969
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Sep 04, 2009 | Home Sold | $80,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $54,000 | $1,208 |
| 2022 | $54,000 | $1,208 |
| 2021 | $54,000 | $2,606 |
| 2020 | $37,440 | $2,590 |
| 2019 | $37,440 | $1,035 |
| 2017 | $37,440 | $1,035 |
History based on county public records data.
Nearby schools
4
Bess T. Shepherd Elementary School
Public District KG-5
2.7 mi
•7126 Tyner Rd
2
Harrison Elementary School
Public District PK-5
3.4 mi
•5637 Highway 58
4
Woodmore Elementary School
Public District PK-5
3.8 mi
•800 Woodmore Ln
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $38,951. Most Chattanooga, TN residents have annual incomes between $35k-100k. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.
How much money do the neighbors make?
46%
<35k
47%
35k-100k
7%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
55%
Single, No Kids
13%
Single, with Kids
23%
Married, No Kids
9%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
12%
<11 yrs old
5%
12-17 yrs old
24%
18-34 yrs old
46%
35-64 yrs old
13%
65+ yrs old
What do the neighbors do for fun?
Pro Wrestling
Figure Skating
NASCAR
Where do the neighbors shop?
Family Dollar
Kmart
Dollar General
Where do the neighbors go to eat?
Dominos Pizza
Bob Evans
Cracker Barrel
What do the neighbors drive?
Ford
Buick
Ram
What do the neighbors listen to?
New Country
Oldies
Classic Country
All data provided by Home Junction and Claritas
Similar homes for sale
This home is located at 4831 Bonny Lake Ln in Chattanooga, TN and zip code 37416 in the Lake Hills neighborhood. This 1,787 square foot home, which was built in 1966, sits on a 0.31 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since April 8, 2025 and is currently priced at $250,000.
Over 98 listings were sold over their listed price in May 2025 in Chattanooga, TN. In the same period over 183 listings were sold below the listed price and 123 listings were sold for the listed price. In May 2025 in Chattanooga, TN there were equal homes for sale than in April. Listings spent 37 days on the market in May 2025, and had a median list price of $336,380 during the same period.
From Rocket Homes Real Estate and based on county public records data.