New Construction Quadplex with
New
For Sale
$1,069,900
1808 1806 1804 1802 Arbor Hills Drive lot 26, Cleveland, TN 37323
MULTI_FAMILY - Cleveland, TN
Property Size6,080 SF
Lot Size0.14 Acres
Price / SF$175.97
Days on Market5
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 8, Bathroom 12, Bedroom 6, Bedroom 11, Bedroom 8, Bathroom 6, Bathroom 10, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 7, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 12, Bedroom 4, Bedroom 5, Bathroom 9, Bedroom 9, Bathroom 7, Bedroom 10, 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
Central Air, Electric
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
Last Checked: Aug 11 at 4:06PM
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.
Scheduled for completion in 2026, this under-construction quadplex contains four townhome-style units within a 6,080-square-foot property. Each residence is designed with three bedrooms, 2.5 bathrooms, an attached two-car garage, stainless steel appliances, soft-close cabinetry, granite counters, kitchen islands, high ceilings, crown molding, and vinyl flooring. Brick and HardiPlank exteriors, shingle roofing, heat-pump heating, and central electric air conditioning complete the improvements.
The property occupies 0.14 acres in Cleveland, Tennessee, within walking distance of grocery stores, restaurants, and shopping. Major highways are located nearby for regional commuting. Public water and sewer serve the property. Community landscaping is covered through the HOA, and plans call for a future pool. If contracted before completion, the builder will permit selection from an available range of finishes.
The property occupies 0.14 acres in Cleveland, Tennessee, within walking distance of grocery stores, restaurants, and shopping. Major highways are located nearby for regional commuting. Public water and sewer serve the property. Community landscaping is covered through the HOA, and plans call for a future pool. If contracted before completion, the builder will permit selection from an available range of finishes.
Key Highlights
- Four‑unit quadplex under construction with completion scheduled for 2026
- 6,080 square feet on a 0.14‑acre lot in Cleveland, TN 37323
- Each unit includes 3 bedrooms, 2.5 bathrooms, and an attached 2‑car garage
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
218
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 attached townhome-style units feature modern finishes, private garages, and low-maintenance community landscaping.
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 under construction with completion scheduled for 2026; 6,080 square feet on a 0.14‑acre lot in Cleveland, TN 37323; Each unit includes 3 bedrooms, 2.5 bathrooms, and an attached 2‑car garage
