New Construction Quadplex with
For Sale
$1,069,900
1808 1806 1804 1802 Arbor Hills Drive lot 26, Cleveland, TN 37323
Residential Income, Cleveland, TN
Property Size6,080 SF
Lot Size0.14 Acres
Price / SF$175.97
Days on Market44
Property Features for 1808 1806 1804 1802 Arbor Hills Drive lot 26
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 2, Bedroom 12, Bathroom 7, Bedroom 2, Bathroom 3, Bathroom 6, Bathroom 4, Bedroom 11, Bedroom 3, Bathroom 10, Bedroom 7, Bedroom 4, Bathroom 8, Bedroom 6, Bedroom 9, Bedroom 1, Bedroom 10, Bedroom 8, Bathroom 12, Bathroom 9, Bedroom 5, Bathroom 1, Bathroom 11, Bathroom 5
Parking features
Open, Garage
Interior features
Ceiling Fan(s), Crown Molding, Double Vanity, Eat-in Kitchen, Granite Counters, High Ceilings, Kitchen Island, Plumbed
Appliances
Stainless Steel Appliance(s), Refrigerator, Dishwasher, Built-In Range, Built-In Electric Range, Built-In Electric Oven
Lot features
Subdivided
Elementary school
Blythe-Bower Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Directions
Take APD 40 in Cleveland, Tennessee to McGrady Road at Food City. Take an immediate left onto Young Rd. Arbor Hills will be on your right.
Standard status
Active
APN
066h B 025.00
Size
6,080 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Part of lot 26 Arbor Hills Subdivision
Tax Annual Amount
2473
HOA Fee
$2,400 Annually
Legal Description
Part of lot 26 Arbor Hills Subdivision
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Flooring type
Vinyl
Building materials
Brick, HardiPlank Type
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Gina Shumway · License #TN373412
(770) 686-9366
Added: Aug 7
Changed: Sep 12
Last Checked: Sep 19 at 8:06AM
MLS# 1540284
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 6,080-square-foot quadplex is under construction with a projected 2026 completion. The property contains four townhome-style units, each offering three bedrooms, 2.5 bathrooms, high ceilings, crown molding, granite countertops, an eat-in kitchen, and a kitchen island. Stainless steel appliances, soft-close cabinetry, and vinyl flooring are planned throughout the residences. Every unit includes an attached two-car garage, while brick and HardiPlank exteriors complement the Craftsman-inspired design. Heating is provided by heat pumps, with central electric air conditioning.
The 0.14-acre property is located within walking distance of grocery stores, restaurants, and retail shopping. Major highways are nearby for regional access. The community HOA covers landscaping and includes plans for a future pool. Public water and public sewer serve the property.
The 0.14-acre property is located within walking distance of grocery stores, restaurants, and retail shopping. Major highways are nearby for regional access. The community HOA covers landscaping and includes plans for a future pool. Public water and public sewer serve the property.
Key Highlights
- Four‑unit quadplex with 6,080 square feet of property size
- Each unit includes 3 bedrooms and 2.5 bathrooms
- Attached 2‑car garage provided for every unit
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
$51,964
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
4.86%
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%
$1,039,280
$1.0M
Cap Rate 7%
$742,343
$742.3K
Cap Rate 9%
$577,378
$577.4K
Market Conditions
NOI Build-Up for 6,080 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
$78.8K $12.96/SF
− Vacancy
−$4.6K −$0.75/SF
EGI
$74.2K $12.21/SF
− OpEx
−$22.3K −$3.66/SF
NOI
$52.0K $8.55/SF
Area
Bradley County, TN
Vacancy
5.79%
Lease Rate
$12.96 /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%
$1,039,280
Cap Rate 7%
$742,343
Cap Rate 9%
$577,378
Alternative Uses
Best Use
Multifamily LT 5
$742.3K
$649.6K – $866.1K
NOI $51,964 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$645.9K
$565.2K – $753.6K
NOI $45,216 @ 7.0% cap · market cap 4.23%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,303 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 37323, TN
31,497
Population
12,841
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
114.6 sq mi
ZIP Area
275
Density / Sq Mi
$67,538
Median Household Income
$41,922
Median Earnings
$908
Median Rent
$213,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four townhome-style units feature contemporary finishes, attached garages, and public sewer service within an established community.
Where is this quadplex located?
The property is located at 1808 1806 1804 1802 Arbor Hills Drive lot 26 Cleveland, TN.
What is the asking price?
The asking price for this property is $1,069,900.
What are key features of this property?
This property features: Four‑unit quadplex with 6,080 square feet of property size; Each unit includes 3 bedrooms and 2.5 bathrooms; Attached 2‑car garage provided for every unit
