3-Unit Residential
For Sale
$385,000
713 Lupton Dr, Chattanooga, TN 37415
Each residence offers a two-bedroom, one-bath layout, with one currently vacant.
Property Size2,064 SF
Price / SF$186.53
Days on Market14
Property Features for 713 Lupton Dr
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Keller Williams Realty
(423) 718-4815
Listed By:
Wade Trammell · License #367743
Source:
Chattanoogaareahomesforsale
Added: Aug 16
Changed: Aug 28
Last Checked: Aug 29 at 10:29AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 3-unit residential property contains 2,064 square feet and was built in 1950. All three residences share a two-bedroom, one-bath configuration. Two units are leased, while the remaining unit is vacant and available for occupancy.
The property is located at 713 Lupton Dr in Chattanooga, Tennessee, with access to Hixson, Red Bank, and Downtown Chattanooga. Shopping, dining, entertainment, and major roadways are identified nearby, giving the property an established surrounding context for residential occupancy.
The property is located at 713 Lupton Dr in Chattanooga, Tennessee, with access to Hixson, Red Bank, and Downtown Chattanooga. Shopping, dining, entertainment, and major roadways are identified nearby, giving the property an established surrounding context for residential occupancy.
Key Highlights
- Three residential units, each with 2 bedrooms and 1 bathroom
- 2,064 square feet of total property size
- One unit is vacant; two units are leased
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
$20,263
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
5.26%
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%
$405,260
$405.3K
Cap Rate 7%
$289,471
$289.5K
Cap Rate 9%
$225,144
$225.1K
Market Conditions
NOI Build-Up for 2,064 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
$31.0K $15.00/SF
− Vacancy
−$2.0K −$0.98/SF
EGI
$28.9K $14.03/SF
− OpEx
−$8.7K −$4.21/SF
NOI
$20.3K $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%
$405,260
Cap Rate 7%
$289,471
Cap Rate 9%
$225,144
Alternative Uses
Best Use
Multifamily LT 5
$289.5K
$253.3K – $337.7K
NOI $20,263 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$259.8K
$227.3K – $303.1K
NOI $18,183 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$455.8K
$398.9K – $531.8K
NOI $31,909 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 37415, TN
23,580
Population
11,970
Households
2
Avg Household Size
38
Median Age
45%
College-Educated
95%
High-School Grad
17.5 sq mi
ZIP Area
1,347
Density / Sq Mi
$67,027
Median Household Income
$42,933
Median Earnings
$1,240
Median Rent
$261,900
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 - Each residence offers a two-bedroom, one-bath layout, with one currently vacant.
Where is this triplex located?
The property is located at 713 Lupton Dr Chattanooga, TN.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Three residential units, each with 2 bedrooms and 1 bathroom; 2,064 square feet of total property size; One unit is vacant; two units are leased
