Two-Story Quadplex with
New
For Sale
$625,000
1026 Greenslake Rd, Chattanooga, TN 37412
Four residential units feature private garages, dedicated laundry areas, and durable interior finishes.
Property Size4,800 SF
Price / SF$130.21
Days on Market6
Property Features for 1026 Greenslake Rd
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Greater Downtown Realty dba Keller Williams Realty
Listed By:
Diane Patty 4235045006 · License #320892
(423) 504-5006
Source:
Viewknoxvillehomesforsale
Added: Sep 10
Changed: Sep 14
Last Checked: Sep 15 at 12:18PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greater Downtown Realty dba Keller Williams Realty
Investment Insights
Based on property information with market context.
This quadplex contains four two-story units, each measuring approximately 1,200 square feet with two bedrooms, one full bath, a private single-car garage, and laundry space at the garage level. Interior features include LVP flooring, stainless steel appliances, granite countertops, and tiled bathroom showers. The property provides approximately 4,800 square feet of combined living area, along with four garages and additional off-street parking.
Built in 1955, the property is located at 1026 Greenslake Rd in Chattanooga, TN 37412. Shared outdoor areas include a front yard and a spacious side yard. Shopping, dining, major roadways, and Downtown Chattanooga are identified as accessible from the property.
Built in 1955, the property is located at 1026 Greenslake Rd in Chattanooga, TN 37412. Shared outdoor areas include a front yard and a spacious side yard. Shopping, dining, major roadways, and Downtown Chattanooga are identified as accessible from the property.
Key Highlights
- Four 2‑bedroom, 1‑bath units
- Approximately 4,800 square feet of combined living space
- Each unit measures approximately 1,200 square feet
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
$47,124
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
7.54%
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%
$942,480
$942.5K
Cap Rate 7%
$673,200
$673.2K
Cap Rate 9%
$523,600
$523.6K
Market Conditions
NOI Build-Up for 4,800 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
$72.0K $15.00/SF
− Vacancy
−$4.7K −$0.98/SF
EGI
$67.3K $14.03/SF
− OpEx
−$20.2K −$4.21/SF
NOI
$47.1K $9.82/SF
Area
Chattanooga, TN
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$942,480
Cap Rate 7%
$673,200
Cap Rate 9%
$523,600
Alternative Uses
Best Use
Multifamily LT 5
$673.2K
$589.1K – $785.4K
NOI $47,124 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$604.1K
$528.6K – $704.8K
NOI $42,286 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$1.06M
$927.6K – $1.24M
NOI $74,207 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 37412, TN
21,881
Population
10,305
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
86%
High-School Grad
8.7 sq mi
ZIP Area
2,515
Density / Sq Mi
$56,600
Median Household Income
$37,858
Median Earnings
$1,120
Median Rent
$182,600
Median Home Value
Check the figures for this property
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?
Quadplex - Four residential units feature private garages, dedicated laundry areas, and durable interior finishes.
Where is this quadplex located?
The property is located at 1026 Greenslake Rd Chattanooga, TN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units; Approximately 4,800 square feet of combined living space; Each unit measures approximately 1,200 square feet
