Listing Agency: EXP Realty LLC t***@exprealty.net Show Phone

Listed By: Bradon Doctor · License #355832 Show Phone

Source: Exprealty

Added: Aug 28 Changed: Oct 6 Last Checked: Oct 16 at 9:24AM

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Investment Insights

Based on property information with market context.

Built in 2005, this duplex contains two separate residences, each with one bedroom, one bathroom, a spacious living area, and an open kitchen arrangement. Both units include individual laundry hookups and private rear decks. Side A has undergone a complete renovation and is positioned for a new tenant or owner occupant, while Side B is occupied by a long-term renter.

The property sits on a flat half-acre lot at 407 Hotwater Road in Soddy Daisy, Tennessee, outside the floodplain. The source information also identifies potential for an ADU or an additional duplex, subject to independent feasibility and permitting review.

Key Highlights

• Two‑unit duplex with one bedroom and one bathroom per side
• Side A completely renovated and ready for a tenant or owner occupant
• Side B occupied by a long‑term renter

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,821

Cap Rate

3.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$176,420 $176.4K

Cap Rate 7%

$126,014 $126.0K

Cap Rate 9%

$98,011 $98.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,050 SF

Gross rent

$14.2K $13.56/SF

− Vacancy

−$1.6K −$1.56/SF

EGI

$12.6K $12.00/SF

− OpEx

−$3.8K −$3.60/SF

NOI

$8.8K $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 Rate 5%

$176,420

Cap Rate 7%

$126,014

Cap Rate 9%

$98,011

Alternative Uses

Best Use

Multifamily LT 5

$126.0K

$110.3K – $147.0K (±1% cap)

NOI $8,821 @ 7.0% cap · market cap 3.54%

Second Best

Apartment 5plus

$115.7K

$101.3K – $135.0K (±1% cap)

NOI $8,102 @ 7.0% cap · market cap 3.25%

Theoretical Best

Healthcare Medical

$174.4K

$152.6K – $203.4K (±1% cap)

NOI $12,205 @ 7.0% cap · market cap 4.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency HVAC Service Building Supply Spa & Massage Center Restaurant Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

63

Businesses Nearby

Explore this area Business Placement

Demographics for 37379, TN

28,552

Population

12,089

Households

2.4

Avg Household Size

44

Median Age

26%

College-Educated

92%

High-School Grad

106.4 sq mi

ZIP Area

268

Density / Sq Mi

$85,525

Median Household Income

$44,662

Median Earnings

$988

Median Rent

$277,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two one-bedroom units offer separate laundry hookups, private outdoor space, and an established tenant in one residence.

Where is this duplex located?

The property is located at 407 Hotwater Rd Soddy Daisy, TN.

What is the asking price?

The asking price for this property is $249,000.

What are key features of this property?

This property features: Two‑unit duplex with one bedroom and one bathroom per side; Side A completely renovated and ready for a tenant or owner occupant; Side B occupied by a long‑term renter