Fully Occupied
For Sale
$499,900
1845 Dana Lane, Hixson, TN 37343
Residential Income, Hixson, TN
Property Size4,260 SF
Lot Size0.22 Acres
Price / SF$117.35
Days on Market14
Property Features for 1845 Dana Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 4, Bathroom 6, Bedroom 5, Bedroom 6, Bedroom 3, Basement, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 5, Bathroom 1, Bedroom 1
Parking features
Parking Lot, On Street, Driveway
Basement
Partial, Finished
Appliances
Washer/Dryer, Free-Standing Electric Range, Dishwasher
Subdivision
Plaza Hills
Lot features
Cul-De-Sac
Elementary school
Alpine Crest Elementary
Middle school
Red Bank Middle
High school
Red Bank High School
Directions
North Dayton Blvd, Right Appian Way, Right Delashmitt, Right Cary Ln, Left Dana.
Standard status
Active
APN
109f E 014
Size
4,260 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
Lot 34 Plaza Hills Unit 3 Pb27 Pg11 6
Tax Annual Amount
5822
Legal Description
Lot 34 Plaza Hills Unit 3 Pb27 Pg11 6
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Baseboard
Cooling system
Central Air, Electric, Window Unit(s), Wall Unit(s)
Water source
Public
Building Details
Year built
1969
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl
Building materials
Brick, Wood Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Zach Taylor - Chattanooga
(855) 261-2233
Listed By:
Heidi Rau · License #337555
(423) 987-8018
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 27 at 7:06AM
MLS# 1542770
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 ranch-style quadplex contains 4,260 square feet across four residential units on a 0.22-acre parcel. The property was built in 1969 and combines brick and wood siding with shingle roofing, vinyl and carpet flooring, and a mix of central, baseboard, window, and wall-unit heating and cooling systems. Appliances include washers and dryers, free-standing electric ranges, and dishwashers.
The property is fully occupied and provides on-street parking, a parking lot, and driveway parking. Public water and public sewer serve the site. All water heaters were replaced in 2025, and the HVAC system in unit 1845 was replaced in 2025. The property is located in Hixson, Hamilton County, Tennessee.
The property is fully occupied and provides on-street parking, a parking lot, and driveway parking. Public water and public sewer serve the site. All water heaters were replaced in 2025, and the HVAC system in unit 1845 was replaced in 2025. The property is located in Hixson, Hamilton County, Tennessee.
Key Highlights
- 4,260‑square‑foot quadplex on a 0.22‑acre parcel
- Fully occupied residential income property
- All water heaters replaced in 2025
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
$35,790
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
7.16%
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%
$715,800
$715.8K
Cap Rate 7%
$511,286
$511.3K
Cap Rate 9%
$397,667
$397.7K
Market Conditions
NOI Build-Up for 4,260 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
$57.8K $13.56/SF
− Vacancy
−$6.6K −$1.56/SF
EGI
$51.1K $12.00/SF
− OpEx
−$15.3K −$3.60/SF
NOI
$35.8K $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%
$715,800
Cap Rate 7%
$511,286
Cap Rate 9%
$397,667
Alternative Uses
Best Use
Multifamily LT 5
$511.3K
$447.4K – $596.5K
NOI $35,790 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$469.6K
$410.9K – $547.8K
NOI $32,870 @ 7.0% cap · market cap 6.58%
Theoretical Best
Healthcare Medical
$707.4K
$619.0K – $825.3K
NOI $49,519 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Ranch-style multifamily property with public water and sewer, multiple parking options, and in-unit laundry equipment.
Where is this quadplex located?
The property is located at 1845 Dana Lane Hixson, TN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,260‑square‑foot quadplex on a 0.22‑acre parcel; Fully occupied residential income property; All water heaters replaced in 2025
