Updated Duplex With Newer
New
For Sale
$274,900
5217 Hickory Woods Lane, Hixson, TN 37343
Two-bedroom units offer separate 1-bath layouts, with one side vacant and the other leased through April 2027.
Property Size1,796 SF
Days on Market4
Property Features for 5217 Hickory Woods Lane
General Information
Standard status
Active
Size
1,796 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,804
Building Details
Building Size
1,796 SF
Year Built
1970
Buildings
1
Listing Agency:
RealSmart
Listed By:
Ben Van Gaasbeek · License #325574
(619) 995-4700
Source:
Gracefrankgroup
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 8:28AM
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 RealSmart
Investment Insights
Based on property information with market context.
Built in 1970, this duplex contains two separate units, each configured with 2 bedrooms and 1 bathroom. The right-side residence received an extensive update completed in September 2026, while the remainder of the property was updated approximately 8 years ago. Both units have newer HVAC systems, and the roof is approximately 4 years old.
Unit 1 is vacant and available for viewing. Unit 2 is leased through the end of April 2027. The property is located at 5217 Hickory Woods Lane in Hixson, within a residential area offering access to local amenities, retail, and major thoroughfares.
Unit 1 is vacant and available for viewing. Unit 2 is leased through the end of April 2027. The property is located at 5217 Hickory Woods Lane in Hixson, within a residential area offering access to local amenities, retail, and major thoroughfares.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units
- Right‑side unit update completed September 2026
- Remaining property updated approximately 8 years ago
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
$15,089
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
5.49%
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%
$301,780
$301.8K
Cap Rate 7%
$215,557
$215.6K
Cap Rate 9%
$167,656
$167.7K
Market Conditions
NOI Build-Up for 1,796 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
$24.4K $13.56/SF
− Vacancy
−$2.8K −$1.56/SF
EGI
$21.6K $12.00/SF
− OpEx
−$6.5K −$3.60/SF
NOI
$15.1K $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%
$301,780
Cap Rate 7%
$215,557
Cap Rate 9%
$167,656
Alternative Uses
Best Use
Multifamily LT 5
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$198.0K
$173.2K – $231.0K
NOI $13,858 @ 7.0% cap · market cap 5.04%
Theoretical Best
Healthcare Medical
$298.2K
$261.0K – $348.0K
NOI $20,877 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,001
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?
Duplex - Two-bedroom units offer separate 1-bath layouts, with one side vacant and the other leased through April 2027.
Where is this duplex located?
The property is located at 5217 Hickory Woods Lane Hixson, TN.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units; Right‑side unit update completed September 2026; Remaining property updated approximately 8 years ago
