Fully Renovated Quadplex with
For Sale
$329,000
650 Railroad Street NE, Cleveland, TN 37311
MULTI_FAMILY - Ranch - Cleveland, TN
Property Size2,288 SF
Lot Size0.29 Acres
Price / SF$143.79
Days on Market113
Property Features for 650 Railroad Street NE
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 5
Patio and Porch features
Porch
Appliances
Refrigerator, Microwave, Electric Water Heater, Electric Range
Lot features
Sloped
Elementary school
Arnold Elementary
Middle school
Cleveland Middle
High school
Cleveland High
Directions
From Bradley County Courthouse head north on South Ocoee St, then turn right on 8th se NE, then right on Railroad st SE
Standard status
Active
APN
049m L 02200 000
Size
2,288 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
049m L 022.00
Tax Annual Amount
1378
Legal Description
049m L 022.00
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1966
Number of units
4
Flooring type
Vinyl
Building materials
Brick Veneer, Vinyl Siding
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Century 21 1st Choice Realtors · Century 21 Real Estate
(423) 478-2332
Listed By:
Gabe Cartwright · License #363796
(423) 716-3922
Added: Apr 15
Changed: Aug 1
Last Checked: Aug 4 at 11:06PM
MLS# 1532598
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 fully renovated quadplex offers four separate units, each featuring one bedroom and one bathroom with updated interiors. The property includes brand-new plumbing and efficient ductless mini-split heating and cooling systems, designed to keep day-to-day maintenance manageable. Vinyl flooring runs throughout, and units come equipped with a refrigerator, microwave, electric water heater, and electric range.
Built in 1966 in a ranch style, the exterior features brick veneer and vinyl siding with a metal roof. The property sits on a 0.29-acre lot and totals 2,288 square feet. Utilities include public water and public sewer, and each unit includes a porch.
Located at 650 Railroad Street NE in Cleveland, TN (Bradley County), this quadplex is positioned for tenants seeking modern comfort with the practical benefit of ductless climate control.
Built in 1966 in a ranch style, the exterior features brick veneer and vinyl siding with a metal roof. The property sits on a 0.29-acre lot and totals 2,288 square feet. Utilities include public water and public sewer, and each unit includes a porch.
Located at 650 Railroad Street NE in Cleveland, TN (Bradley County), this quadplex is positioned for tenants seeking modern comfort with the practical benefit of ductless climate control.
Key Highlights
- Four units, each with one bedroom and one bathroom
- 0.29‑acre lot with 2,288 SF total
- Brand‑new plumbing and efficient ductless mini‑split heating and cooling
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.7k | $12.96 |
| − Vacancy | −$1.7k | −$0.75 |
| EGI | $27.9k | $12.21 |
| − OpEx | −$8.4k | −$3.66 |
| NOI | $19.6k | $8.55 |
2,288 SF · lease $12.96/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$279.4K
$244.4K – $325.9K
NOI $19,555 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$243.1K
$212.7K – $283.6K
NOI $17,016 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$480.1K
$420.1K – $560.1K
NOI $33,606 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
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?
Quadplex - Four one-bedroom, one-bath units in a renovated quadplex with porch and ductless heating and cooling.
Where is this quadplex located?
The property is located at 650 Railroad Street NE Cleveland, TN.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Four units, each with one bedroom and one bathroom; 0.29‑acre lot with 2,288 SF total; Brand‑new plumbing and efficient ductless mini‑split heating and cooling
