6-Unit Brick Apartment
For Sale
$569,000
578 Withrow Road, Mc Donald, TN 37353
Residential Income, McDonald, TN
Property Size3,888 SF
Lot Size1.00 Acre
Price / SF$146.35
Days on Market38
Property Features for 578 Withrow Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 6, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 8, Bathroom 5
Parking features
Parking Lot, Off Street
Patio and Porch features
Porch
Appliances
Water Heater, Oven
Elementary school
Prospect Elementary
Middle school
Ocoee Middle
High school
Ocoee Middle/High
Standard status
Active
APN
056 11500 000
Size
3,888 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
Deed Acres 1.00
Tax Annual Amount
1596
Legal Description
Deed Acres 1.00
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
2
Number of units
6
Flooring type
Vinyl
Building materials
Brick
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(770) 686-9366
Added: Aug 13
Changed: Sep 12
Last Checked: Sep 19 at 7:06AM
MLS# 1540695
Copyright © 2026 Greater Chattanooga 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.
Investment Insights
Based on property information with market context.
This 6-unit apartment property contains 3,888 square feet on 1 acre, with two 2-bedroom, 1-bath residences and four 1-bedroom, 1-bath residences. Built in 1972 with a brick exterior and ranch-style design, the building includes vinyl flooring, central heating, central air, shingle roofing, porches, and off-street parking. Public water and public sewer serve the property, with water heaters and ovens included in the unit improvements.
Situated outside the Cleveland city limits in Bradley County, the property has county-only property taxes and convenient regional access. The address is 578 Withrow Road in McDonald, Tennessee, with proximity to I-75, Cleveland, and Chattanooga. Each residence is individually metered, residents pay their own utilities, and ownership handles trash service.
Situated outside the Cleveland city limits in Bradley County, the property has county-only property taxes and convenient regional access. The address is 578 Withrow Road in McDonald, Tennessee, with proximity to I-75, Cleveland, and Chattanooga. Each residence is individually metered, residents pay their own utilities, and ownership handles trash service.
Key Highlights
- 6‑unit apartment property with 3888 square feet on 1 acre
- Unit mix includes two 2‑bedroom, 1‑bath units and four 1‑bedroom, 1‑bath units
- Brick construction with a 1972 build year and ranch‑style layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,915
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,300
$578.3K
Cap Rate 7%
$413,071
$413.1K
Cap Rate 9%
$321,278
$321.3K
Market Conditions
NOI Build-Up for 3,888 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.0K $14.40/SF
− Vacancy
−$3.4K −$0.88/SF
EGI
$52.6K $13.52/SF
− OpEx
−$23.7K −$6.08/SF
NOI
$28.9K $7.44/SF
Area
Bradley County, TN
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$578,300
Cap Rate 7%
$413,071
Cap Rate 9%
$321,278
Alternative Uses
Best Use
Apartment 5plus
$413.1K
$361.4K – $481.9K
NOI $28,915 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.8K
$713.8K – $951.8K
NOI $57,107 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 37353, TN
5,168
Population
2,081
Households
2.5
Avg Household Size
44
Median Age
30%
College-Educated
90%
High-School Grad
40.5 sq mi
ZIP Area
128
Density / Sq Mi
$66,186
Median Household Income
$42,923
Median Earnings
$976
Median Rent
$221,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Individual unit metering supports a straightforward utility arrangement, with residents paying their own utilities and ownership covering trash service.
Where is this apartment building located?
The property is located at 578 Withrow Road Mc Donald, TN.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: 6‑unit apartment property with 3888 square feet on 1 acre; Unit mix includes two 2‑bedroom, 1‑bath units and four 1‑bedroom, 1‑bath units; Brick construction with a 1972 build year and ranch‑style layout
