Matthew: Hey, everybody. This is Matthew Whitaker with gkhouses. I’m back talking about where to invest in Chattanooga – Red Bank North of Town with my man, our team leader, Alex Smith in Chattanooga. What’s up, Alex?
Alex: Hey, everybody.
Matthew: We’ve already done two other videos. We did kind of a Chattanooga general overview, and in our second video we dug into kind of downtown Chattanooga. Today we’re going to look at the north part of Chattanooga, which is an area called Red Bank. Red Bank is actually just north of our office. Is there anything you want to start off with when talking about Red Bank, Alex?
Alex: If I wanted to summarize it up in one sentence, I would say you are getting a North Shore kind of feel but without the North Shore prices.
Matthew: So let’s talk about North Shore, because I think that is a big part of this conversation. So I’m sharing my screen now and we will have the view of Chattanooga. So just for people that aren’t familiar with Chattanooga, the North Shore is the north side of the Tennessee River that runs through Chattanooga. Alex, tell them a little bit about the North Shore and the revitalization that’s going on there.
Alex: You have a ton of good restaurants up there and there are also great options for people who want to go out and see some of downtown Chattanooga with their family. People who do go see downtown are definitely going to spend part of that day in the North Shore. The Tennessee Aquarium is just on the river, and there is a walking bridge right by the Aquarium that leads to Coolidge Park. Coolidge park is very popular for families with younger children. North Shore is a great family-friendly area for people that are either just visiting or just want to get outside for a few hours.
Matthew: So if you come in town North Shore is definitely a place that you are going to want to visit, hang out with friends, and check out restaurants. It has a really hip, cool vibe.
Alex: Yeah, exactly.
Matthew: And just north of that is where we’re talking about today. We are talking about Red Bank. And just to get started, let’s talk about rental rates in Red Bank. What do you see, Alex, in terms of rental rates for the Red Bank area?
Alex: The good thing about Red Bank, and why it’s so popular for rentals and home buying, is you can find a little bit of everything. If a duplex is your thing, you can find a 2 bedroom and 1 bathroom duplex on each half, and you could probably get at least $500 on up to at $695, $795, somewhere in there. And then you’ve also got some high-end houses, like your 3 bedroom and 2 bathroom, and your 4 bedroom and 2 bathroom that rent anywhere between $1100, $1300 on up to probably $1500 and $1700.
Matthew: And is it fair to say that this Dayton Boulevard is the major thoroughfare that has most of the commercial?
Alex: Yes, Dayton Boulevard is a huge road in terms of just sheer length. This is where a lot of commercial development is going to be. All of the rental houses are going to be off of this one road. So, yes, a lot of business going on along Dayton Boulevard.
Matthew: Alex could you tell us why someone may not want to invest in this area?
Alex: Yes, so long-term. When Volkswagen opens up their new electric plant, in my opinion, I think you are going to see a lot of people want to live out east of the city. Places including East Brainerd, Tyner, that kind of area. Because the plant’s gonna be in the Ooltewah area. Again this is an opinion, don’t take is as gospel.
Matthew: Okay. So let’s take a look at that. The Ooltewah area is right here. East Brainerd’s right here. So this is where the Volkswagen plant is going be. (Look to map in video)
Matthew: Some people might think, “Hey, you know, this proximity, having to come through town may be a challenge.” Although at the end of the day, Chattanooga’s not an incredibly big city. So if someone wanted to kind of go the back way to get there, it’s still possible. Somebody could live there and work on that eastern side of town.
Alex: Oh definitely. I live towards Tyner and I take Highway 153 to work, and I don’t have to deal with hardly any traffic. The thing to keep in mind about Chattanooga is that it’s a big city with small city infrastructure. I don’t know what the city’s plan is to fix that, but when there’s traffic it can get pretty dicey.
Matthew: So that is our Red Bank area of Chattanooga. Alex, if they have questions about Red Bank what is the best way to get in touch with you?
Alex: The best way to get in touch with me is to shoot me an email, [email protected], or give me a call, 423-648-7368. This is video three in our series of where to invest in Chattanooga, so keep an eye out for the rest of those. You are welcome to check out the other two that we have done so far.
Matthew: Awesome. Thank you for sharing, Alex. I’m Matthew Whitaker with gkhouses. And we will look for you next time.
Alex: See you.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.