3-Unit Triplex with Updated
New
For Sale
$285,000
1816 Dodds Ave, Chattanooga, TN 37404
All three apartments are occupied, with window heating and cooling units installed in each residence.
Property Size1,805 SF
Price / SF$157.89
Days on Market7
Property Features for 1816 Dodds Ave
General Information
Standard status
Active
Size
1,805 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$34,104
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
Working Moms Realty LLC
Listed By:
Lisa Paller
(423) 826-9093
Source:
Chattanoogaareahomesforsale
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 5 at 7:18PM
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 Working Moms Realty LLC
Investment Insights
Based on property information with market context.
This 1,805-square-foot triplex in Chattanooga contains three occupied rental units. Built in 1930, the property has a replacement roof and gutters, repaired fascia and soffit, and new window heating and cooling units in each apartment. The rear retaining wall has also been replaced, and the yard has been cleaned up.
Unit A received interior work to meet Section 8 requirements, including drywall repairs, fresh paint, luxury vinyl plank flooring, a refrigerator, and an oven/range. The property is located on Dodds Avenue, with access to downtown Chattanooga and surrounding areas.
Unit A received interior work to meet Section 8 requirements, including drywall repairs, fresh paint, luxury vinyl plank flooring, a refrigerator, and an oven/range. The property is located on Dodds Avenue, with access to downtown Chattanooga and surrounding areas.
Key Highlights
- Three occupied rental units
- 1,805 square feet; built in 1930
- Replacement roof and gutters, with repaired fascia and soffit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,721
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,420
$354.4K
Cap Rate 7%
$253,157
$253.2K
Cap Rate 9%
$196,900
$196.9K
Market Conditions
NOI Build-Up for 1,805 SF
Gross rent
$27.1K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$25.3K $14.03/SF
− OpEx
−$7.6K −$4.21/SF
NOI
$17.7K $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 Rate 5%
$354,420
Cap Rate 7%
$253,157
Cap Rate 9%
$196,900
Alternative Uses
Best Use
Multifamily LT 5
$253.2K
$221.5K – $295.4K
NOI $17,721 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$227.2K
$198.8K – $265.0K
NOI $15,901 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$398.6K
$348.8K – $465.1K
NOI $27,905 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Explore this area
Business Placement
Demographics for 37404, TN
13,106
Population
5,887
Households
2.2
Avg Household Size
34
Median Age
32%
College-Educated
86%
High-School Grad
5.2 sq mi
ZIP Area
2,520
Density / Sq Mi
$53,585
Median Household Income
$35,983
Median Earnings
$999
Median Rent
$235,300
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?
Triplex - All three apartments are occupied, with window heating and cooling units installed in each residence.
Where is this triplex located?
The property is located at 1816 Dodds Ave Chattanooga, TN.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Three occupied rental units; 1,805 square feet; built in 1930; Replacement roof and gutters, with repaired fascia and soffit
