Triplex with
New
For Sale
$399,900
1837 Dana Lane, Hixson, TN 37343
Residential Income, Hixson, TN
Property Size4,168 SF
Lot Size0.39 Acres
Price / SF$95.95
Days on Market1
Property Features for 1837 Dana Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 5, Bedroom 2, Bathroom 4, Basement
Parking features
Parking Lot, On Street
Patio and Porch features
Porch
Exterior features
Balcony
Basement
Finished
Appliances
Refrigerator, Electric Range, Dishwasher
Elementary school
Alpine Crest Elementary
Middle school
Red Bank Middle
High school
Red Bank High School
Directions
North on Dayton Blvd, Right Appian Way, Right Delashmitt Rd, Right Cary, left Dana Ln.
Subdivision
Chattanooga
Standard status
Active
APN
109f E 015
Size
4,168 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
Lot 35 Plaza Hills Unit 3 Pb 27 Pg 116
Tax Annual Amount
4763
Legal Description
Lot 35 Plaza Hills Unit 3 Pb 27 Pg 116
Utilities
Sewer type
Public Sewer
Heating system
Central, Baseboard, Electric (Heating)
Cooling system
Varies by Unit, Window Unit(s), Central Air, Electric
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Number of units
3
Flooring type
Laminate, Tile
Building materials
Brick, Wood Siding
Roof type
Shingle
Listing Agency:
Zach Taylor - Chattanooga
(855) 261-2233
Listed By:
Heidi Rau · License #337555
(423) 987-8018
Added: Sep 14
Last Checked: Sep 14 at 10:06PM
MLS# 1542769
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 fully occupied triplex at 1837 Dana Lane contains 4,168 square feet on a 0.39-acre parcel. Built in 1969, the property features brick and wood siding, a shingle roof, porches, a balcony, laminate and tile flooring, and basement space. Unit amenities include refrigerators, electric ranges, and dishwashers. Heating varies among central, baseboard, and electric systems, while cooling includes central air, window units, and electric systems by unit.
The property is served by public water and public sewer, with parking available in a lot and along the street. Unit 1839 received an HVAC replacement in 2026, and all water heaters were replaced in 2025. Interior video tours and property financials are available through the listing agent, with property access subject to a binding contract and tenant-privacy restrictions.
The property is served by public water and public sewer, with parking available in a lot and along the street. Unit 1839 received an HVAC replacement in 2026, and all water heaters were replaced in 2025. Interior video tours and property financials are available through the listing agent, with property access subject to a binding contract and tenant-privacy restrictions.
Key Highlights
- Fully occupied triplex totaling 4,168 square feet
- Situated on 0.39 acres at 1837 Dana Lane, Hixson, TN 37343
- Built in 1969 with brick and wood siding construction
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
$35,017
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
8.76%
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%
$700,340
$700.3K
Cap Rate 7%
$500,243
$500.2K
Cap Rate 9%
$389,078
$389.1K
Market Conditions
NOI Build-Up for 4,168 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
$56.5K $13.56/SF
− Vacancy
−$6.5K −$1.56/SF
EGI
$50.0K $12.00/SF
− OpEx
−$15.0K −$3.60/SF
NOI
$35.0K $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 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%
$700,340
Cap Rate 7%
$500,243
Cap Rate 9%
$389,078
Alternative Uses
Best Use
Multifamily LT 5
$500.2K
$437.7K – $583.6K
NOI $35,017 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$459.4K
$402.0K – $536.0K
NOI $32,160 @ 7.0% cap · market cap 8.04%
Theoretical Best
Healthcare Medical
$692.1K
$605.6K – $807.5K
NOI $48,450 @ 7.0% cap · market cap 12.12%
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
73
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with public water and sewer, parking lot access, and a mix of central and window cooling systems.
Where is this triplex located?
The property is located at 1837 Dana Lane Hixson, TN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Fully occupied triplex totaling 4,168 square feet; Situated on 0.39 acres at 1837 Dana Lane, Hixson, TN 37343; Built in 1969 with brick and wood siding construction
