Single-Level Brick
New
For Sale
$300,000
1515 Shelby Circle, Hixson, TN 37343
Both units are tenant occupied, with several building systems and components replaced or updated over time.
Property Size1,792 SF
Days on Market3
Property Features for 1515 Shelby Circle
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,804
Building Details
Building Size
1,792 SF
Year Built
1968
Stories
1
Construction
brick
Listing Agency:
Nu Vision Realty
Listed By:
Mike Robertson · License #339280
(423) 227-1575
Source:
Gracefrankgroup
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:22AM
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 Nu Vision Realty
Investment Insights
Based on property information with market context.
This 1968 duplex has a single-level layout and partial brick construction. The property is tenant occupied, with recent work including a replacement HVAC system in 2022 and new ductwork in 2024. A water heater was also installed in 2024.
Other updates include replacement windows from 2019, a front door installed in 2017, a stove added in 2021, and a roof dating to 2012.
Other updates include replacement windows from 2019, a front door installed in 2017, a stove added in 2021, and a roof dating to 2012.
Key Highlights
- 1968 construction
- Single‑level duplex with partial brick exterior
- Tenant occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,055
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,100
$301.1K
Cap Rate 7%
$215,071
$215.1K
Cap Rate 9%
$167,278
$167.3K
Market Conditions
NOI Build-Up for 1,792 SF
Gross rent
$24.3K $13.56/SF
− Vacancy
−$2.8K −$1.56/SF
EGI
$21.5K $12.00/SF
− OpEx
−$6.5K −$3.60/SF
NOI
$15.1K $8.40/SF
Area
Hamilton County, TN
Vacancy
11.49%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,100
Cap Rate 7%
$215,071
Cap Rate 9%
$167,278
Alternative Uses
Best Use
Multifamily LT 5
$215.1K
$188.2K – $250.9K
NOI $15,055 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$197.5K
$172.8K – $230.5K
NOI $13,827 @ 7.0% cap · market cap 4.61%
Theoretical Best
Healthcare Medical
$297.6K
$260.4K – $347.2K
NOI $20,831 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 37343, TN
43,626
Population
19,031
Households
2.3
Avg Household Size
42
Median Age
38%
College-Educated
93%
High-School Grad
42.1 sq mi
ZIP Area
1,036
Density / Sq Mi
$79,177
Median Household Income
$45,151
Median Earnings
$1,258
Median Rent
$275,300
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?
Duplex - Both units are tenant occupied, with several building systems and components replaced or updated over time.
Where is this duplex located?
The property is located at 1515 Shelby Circle Hixson, TN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1968 construction; Single‑level duplex with partial brick exterior; Tenant occupied
