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    1640 Thrasher Pike Hixson, TN 37343

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    Claim this Listing
    For Sale
    $320,000

    MULTI_FAMILY - Hixson, TN

    Property size:
    2,208 SF
    Price / SF:
    $144/SF
    Added:
    May 23, 2025
    Days on Market:
    340
    Last Refresh:
    Apr 27 at 3:06 am

    Property Features for 1640 Thrasher Pike

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Off Street
    Patio and Porch features
    Deck, Patio
    Interior features
    Eat-in Kitchen
    Appliances
    Electric Oven, Refrigerator
    Standard status
    Active
    APN
    083h B 043.03
    Size
    2,208 SF

    Taxes and HOA fees

    Tax Annual Amount
    1548

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1984
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Laminate, Carpet
    Building materials
    Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Grace Edrington

    Listing agent Grace Edrington License #291147

    Listing office Berkshire Hathaway J Douglas Properties 100 Tremont Street George Edrington, Chattanooga, TN

    Listing date May 23, 2025

    MLS# 20252311 Listing URL

    Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hixson Duplex: Investor Opportunity

    This well-maintained duplex presents an investor opportunity in Hixson, Tennessee. The property is located directly across from Middle Valley Elementary and within walking distance of Walmart and other shopping amenities. Each unit is currently occupied with month-to-month tenants, providing flexibility for future plans. Recent upgrades include a new roof and gutters installed 2.5 years ago, and new stoves in both units installed 1 year ago. The hot water heater for unit 2 is 3 years old, while the hot water heater for unit 1 is 5 years old. The HVAC system in unit 2 is 2 years old. The property offers strong rental potential in a desirable and convenient location. The property size is 2208 square feet and is located in Hamilton County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Auto Parts Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hixson
    County
    Hamilton
    State
    Tennessee
    Longitude
    -85.190125
    Latitude
    35.189045

    Nearby Similar for Sale

    • $310,000
      1,660 SF

      Hixson Duplexes with New Upgrades

      Two updated duplexes in Hixson, Tennessee, with new roofs.
      4703 Clover Lane, Hixson, TN 37343
      View Details
    • $310,000
      1,660 SF

      Hixson Duplex For Sale

      Duplex in Hixson with new roof and windows.
      4705 Clover Lane, Hixson, TN 37343
      View Details
    • $339,000
      2,281 SF

      Hixson Duplex: Investor Opportunity

      Tenant-occupied duplex in Hixson with separate entrances and driveways.
      5227 Hickory Nut Lane #1-2, Hixson, TN 37343
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained Hixson duplex with strong rental potential in prime location.
    Where is this duplex located?
    The property is located at 1640 Thrasher Pike Hixson, TN.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: Prime Hixson location across from Middle Valley Elementary and walking distance to Walmart and shopping.; Strong rental potential with both units currently occupied.; New roof and gutters (2.5 years old).
    (423) 280-2865
    We can help!
    Listing Contact
    Grace Edrington
    Real Estate License ID: 291147
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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