Fully Occupied
New
For Sale
$399,900
1837 Dana Ln, Hixson, TN 37343
Three-unit property with updated water heaters and HVAC replacement in one residence.
Property Size4,168 SF
Price / SF$95.95
Days on Market2
Property Features for 1837 Dana Ln
General Information
Standard status
Active
Size
4,168 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1969
Listing Agency:
Zach Taylor Chattanooga
Listed By:
Heidi Rau · License #337555
(423) 987-8018
Source:
Fykesrealtygroup
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 9:29PM
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 Zach Taylor Chattanooga
Investment Insights
Based on property information with market context.
This triplex at 1837 Dana Ln in Hixson, Tennessee, contains 4,168 square feet across three residential units. The property was built in 1969 and is fully occupied. HVAC equipment serving unit 1839 was replaced in 2026, and all water heaters were replaced in 2025.
Interior video tours for each unit and property financials are available through the listing agent. Showings require a binding contract, and tenants should not be disturbed. The property is offered for sale and may also be acquired with 4933 Lavender Trl and 1845 Dana Ln as part of a package purchase.
Interior video tours for each unit and property financials are available through the listing agent. Showings require a binding contract, and tenants should not be disturbed. The property is offered for sale and may also be acquired with 4933 Lavender Trl and 1845 Dana Ln as part of a package purchase.
Key Highlights
- Fully occupied triplex at 1837 Dana Ln, Hixson, TN 37343
- 4,168 SF residential property built in 1969
- HVAC in unit 1839 replaced in 2026
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
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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 - Three-unit property with updated water heaters and HVAC replacement in one residence.
Where is this triplex located?
The property is located at 1837 Dana Ln 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 at 1837 Dana Ln, Hixson, TN 37343; 4,168 SF residential property built in 1969; HVAC in unit 1839 replaced in 2026
