Renovated Triplex with
For Sale
$325,000
Pending
6314 Fisk Avenue, Chattanooga, TN 37421
Residential Income, Chattanooga, TN
Property Size2,497 SF
Lot Size0.32 Acres
Days on Market51
Property Features for 6314 Fisk Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 7, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1
Parking features
Off Street
Appliances
Refrigerator, Range Hood, Oven, Electric Water Heater, Electric Range
Subdivision
Washington Park
Lot features
Level
Elementary school
Bess T. Shepherd Elementary
Middle school
Tyner Middle Academy
High school
Tyner Academy
Directions
HWY 153 N. EXIT AIRPORT RD. TURN RT ONTO AIRPORT RD. RT. ON MAHARRY LEFT ON FISK SIGN IN YARD
Standard status
Pending
APN
148g Q 016
Size
2,497 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
Lt 33,34 Blk A Second Unit Washingt On Park Pb14 Pg144
Tax Annual Amount
6351
Legal Description
Lt 33,34 Blk A Second Unit Washingt On Park Pb14 Pg144
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1971
Number of units
3
Roof type
Shingle
Listing Agency:
Keller Williams Realty
(423) 664-1600
Listed By:
Charles Jabaley · License #TN352704
(423) 710-4602
Added: Jul 6
Changed: Aug 22
Last Checked: Aug 25 at 3:06PM
MLS# 1538168
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 renovated triplex contains 2497 square feet across three separately metered residences. Two units provide two bedrooms and one bathroom in layouts just under 800 square feet each, while the larger three-bedroom, one-bathroom unit offers approximately 1,000 square feet. Each residence includes in-unit laundry, LVP flooring, central heating and central air. The property also includes a two-car garage serving the larger unit, along with a private rear entrance.
Set on 0.32 acres in Chattanooga, the property has newer siding and a shingle roof installed 6 years ago. Public water and public sewer serve the building, with off-street parking available. Highway 153 provides access to downtown Chattanooga, Volkswagen, Amazon, and other major employers. The building was constructed in 1971 and includes electric ranges, ovens, range hoods, refrigerators, and electric water heaters.
Set on 0.32 acres in Chattanooga, the property has newer siding and a shingle roof installed 6 years ago. Public water and public sewer serve the building, with off-street parking available. Highway 153 provides access to downtown Chattanooga, Volkswagen, Amazon, and other major employers. The building was constructed in 1971 and includes electric ranges, ovens, range hoods, refrigerators, and electric water heaters.
Key Highlights
- Three‑unit triplex with 2497 square feet of total property size
- Unit mix includes two 2‑bedroom, 1‑bathroom residences and one 3‑bedroom, 1‑bathroom residence
- Larger downstairs unit includes its own 2 car garage and private rear entrance
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
$24,514
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
7.54%
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%
$490,280
$490.3K
Cap Rate 7%
$350,200
$350.2K
Cap Rate 9%
$272,378
$272.4K
Market Conditions
NOI Build-Up for 2,497 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
$37.5K $15.00/SF
− Vacancy
−$2.4K −$0.98/SF
EGI
$35.0K $14.03/SF
− OpEx
−$10.5K −$4.21/SF
NOI
$24.5K $9.82/SF
Area
Chattanooga, TN
Vacancy
6.50%
Lease Rate
$15.00 /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%
$490,280
Cap Rate 7%
$350,200
Cap Rate 9%
$272,378
Alternative Uses
Best Use
Multifamily LT 5
$350.2K
$306.4K – $408.6K
NOI $24,514 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$314.3K
$275.0K – $366.6K
NOI $21,998 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$551.5K
$482.5K – $643.4K
NOI $38,603 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
Explore this area
Business Placement
Demographics for 37421, TN
51,686
Population
23,978
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
92%
High-School Grad
31.7 sq mi
ZIP Area
1,630
Density / Sq Mi
$79,958
Median Household Income
$44,452
Median Earnings
$1,313
Median Rent
$299,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units offer in-unit laundry and durable LVP flooring.
Where is this triplex located?
The property is located at 6314 Fisk Avenue Chattanooga, TN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three‑unit triplex with 2497 square feet of total property size; Unit mix includes two 2‑bedroom, 1‑bathroom residences and one 3‑bedroom, 1‑bathroom residence; Larger downstairs unit includes its own 2 car garage and private rear entrance
