5 Franklin Place Chattanooga, TN 37412
Estimated payment $901/month
Highlights
- Deck
- No HOA
- Multiple cooling system units
- Furnished
- Efficiency Studio
- Patio
About This Home
Income-producing multi-family property with 2 of the 3 units rented month to month with LONG TERM TENANTS, each featuring one bedroom and one bathroom. This investment opportunity offers immediate cash flow with a gross monthly income of $1,440 per month, a 9.3% CAP RATE. Unit #1 was previously rented for $740 a month. With all 3 units rented out, the new owner could have a +/- 14% CAP RATE. The property includes a metal roof, a convenient community laundry area, and owner-paid utilities. Whether you're looking to continue renting for a steady income, renovate and increase rents for greater returns, or even live in one unit while renting out the others to cover your mortgage, this property offers endless possibilities. Don't miss out on this versatile investment in a prime location! No showings without an accepted offer contingent on the buyer touring the property and approving the property.
Listing Agent
Real Estate Partners Chattanooga LLC License #351594 Listed on: 02/18/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,264
Year Built
- Built in 1930
Lot Details
- 9,135 Sq Ft Lot
- Lot Dimensions are 72.5x126
- Sloped Lot
- May Be Possible The Lot Can Be Split Into 2+ Parcels
Home Design
- Triplex
- Fixer Upper
- Metal Roof
- Aluminum Siding
Interior Spaces
- 2,724 Sq Ft Home
- 1-Story Property
- Furnished
- Living Room
- Efficiency Studio
- Washer and Dryer
Kitchen
- Electric Range
- Stove
- Dishwasher
Parking
- 3 Attached Carport Spaces
- Driveway
- Off-Street Parking
Outdoor Features
- Deck
- Patio
Schools
- East Ridge Elementary School
- East Ridge Middle School
- East Ridge High School
Utilities
- Multiple cooling system units
- Window Unit Cooling System
- Heating Available
- Water Heater
Listing and Financial Details
- The owner pays for all utilities
- Assessor Parcel Number 156m A 006
Community Details
Overview
- No Home Owners Association
- 3 Units
- Hewitt Wilson Etal Subdivision
Additional Features
- Laundry Facilities
- Gross Income $17,280
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $790 | $52,125 | $0 | $0 |
| 2024 | $657 | $29,350 | $0 | $0 |
| 2023 | $1,024 | $29,350 | $0 | $0 |
| 2022 | $1,024 | $29,350 | $0 | $0 |
| 2021 | $1,273 | $29,350 | $0 | $0 |
| 2020 | $1,019 | $20,225 | $0 | $0 |
| 2019 | $1,019 | $20,225 | $0 | $0 |
| 2018 | $1,019 | $20,225 | $0 | $0 |
| 2017 | $1,019 | $20,225 | $0 | $0 |
| 2016 | $988 | $0 | $0 | $0 |
| 2015 | $988 | $19,075 | $0 | $0 |
| 2014 | $988 | $0 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/19/2026 03/19/26 | Price Changed | $150,000 | -18.9% | $55 / Sq Ft |
| 02/18/2026 02/18/26 | For Sale | $185,000 | -- | $68 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | File Title Services | |
| Quit Claim Deed | -- | File Title Services | |
| Interfamily Deed Transfer | -- | First Title | |
| Interfamily Deed Transfer | -- | First Title | |
| Warranty Deed | $28,500 | First Title |
Source: Greater Chattanooga REALTORS®
MLS Number: 1528731
APN: 156M-A-006
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Ask me questions while you tour the home.