2-Unit Ranch
New
For Sale
$270,000
4797 Forest Wood Lane, Hixson, TN 37343
Residential Income, Hixson, TN
Property Size1,696 SF
Lot Size0.30 Acres
Price / SF$159.20
Days on Market2
Property Features for 4797 Forest Wood Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Parking features
Off Street
Patio and Porch features
Porch, Patio
Interior features
Eat-in Kitchen, Pantry
Basement
Crawl Space
Appliances
Refrigerator, Free-Standing Electric Oven, Dishwasher
Subdivision
Forest Dale
Lot features
Gentle Sloping
Elementary school
Alpine Crest Elementary
Middle school
Red Bank Middle
High school
Red Bank High School
Directions
I-75 North, Hwy 153 North, Hixson Pike South, Right on Ely Rd, Right on Delashmitt Rd, Right on Eldridge Rd, Left on Forest Dale Ln, Left on Forest Wod Ln
Standard status
Active
APN
109d B 023
Size
1,696 SF
Lot size
0.30 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
Lot 14 Forest Dale Pb 27 Pg 101 183 0D 03E 14
Tax Annual Amount
1819
Legal Description
Lot 14 Forest Dale Pb 27 Pg 101 183 0D 03E 14
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
private patios
covered front porches
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Building materials
Brick
Roof type
Shingle
Architectural style
Ranch
Buildings
1
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Blake Elsea · License #343031
(423) 355-9002
Added: Oct 27
Last Checked: Oct 28 at 10:06AM
MLS# 1545242
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.
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Investment Insights
Based on property information with market context.
This 1,696-square-foot brick duplex was built in 1972 and has a single-level ranch layout. Each of its two residences includes two bedrooms, one bathroom, a kitchen with pantry storage, and a large laundry room. Private patios and covered front porches serve each side.
The property occupies 0.3 acres and has central heating and air conditioning, off-street parking, public water, and public sewer. Kitchen appliances include a refrigerator, electric oven, and dishwasher.
The property occupies 0.3 acres and has central heating and air conditioning, off-street parking, public water, and public sewer. Kitchen appliances include a refrigerator, electric oven, and dishwasher.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,696 square feet on a 0.3‑acre lot
- Single‑level brick ranch built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,249
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,980
$285.0K
Cap Rate 7%
$203,557
$203.6K
Cap Rate 9%
$158,322
$158.3K
Market Conditions
NOI Build-Up for 1,696 SF
Gross rent
$23.0K $13.56/SF
− Vacancy
−$2.6K −$1.56/SF
EGI
$20.4K $12.00/SF
− OpEx
−$6.1K −$3.60/SF
NOI
$14.2K $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%
$284,980
Cap Rate 7%
$203,557
Cap Rate 9%
$158,322
Alternative Uses
Best Use
Multifamily LT 5
$203.6K
$178.1K – $237.5K
NOI $14,249 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$186.9K
$163.6K – $218.1K
NOI $13,086 @ 7.0% cap · market cap 4.85%
Theoretical Best
Healthcare Medical
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer private patios, covered porches, and dedicated laundry rooms.
Where is this duplex located?
The property is located at 4797 Forest Wood Lane Hixson, TN.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,696 square feet on a 0.3‑acre lot; Single‑level brick ranch built in 1972
