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.
For sale
$185,000
5 Franklin Pl, Chattanooga, TN 37412
3beds
2,724sqft
Est.:
Triplex
Built in 1930
-- sqft lot
$178,100 Zestimate®
$68/sqft
$-- HOA
What's special
Metal roofConvenient community laundry area
- 13 days |
- 983 |
- 38 |
Zillow last checked: 8 hours ago
Listing updated: February 27, 2026 at 10:47am
Listed by:
Dustin Mullins 423-991-4806,
Real Estate Partners Chattanooga LLC 423-265-0088,
Fairouz Hassan 702-981-9626,
Real Estate Partners Chattanooga LLC
Source: Greater Chattanooga Realtors,MLS#: 1528731
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Electric
Cooling
- Multi Units, Window Unit(s)
Appliances
- Included: Dishwasher, Electric Range, Free-Standing Refrigerator, Refrigerator, Washer/Dryer, Water Heater
- Laundry: Common Area
Features
- Has basement: No
- Has fireplace: No
Interior area
- Total structure area: 2,724
- Total interior livable area: 2,724 sqft
Property
Parking
- Total spaces: 3
- Parking features: Driveway, Off Street
- Carport spaces: 3
Features
- Levels: One
- Patio & porch: Deck, Patio
Lot
- Size: 9,134.53 Square Feet
- Dimensions: 72.5 x 126
- Features: Sloped, Split Possible
Details
- Parcel number: 156m A 006
- Special conditions: Investor
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Aluminum Siding, Other
- Roof: Metal
Condition
- Fixer
- New construction: No
- Year built: 1930
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Sewer Connected, Water Connected
Community & HOA
Community
- Subdivision: Hewitt Wilson Etal
HOA
- Has HOA: No
Location
- Region: Chattanooga
Financial & listing details
- Price per square foot: $68/sqft
- Tax assessed value: $117,400
- Annual tax amount: $1,263
- Date on market: 2/18/2026
- Listing terms: Cash
- Tenant pays: None
Estimated market value
$178,100
$167,000 - $187,000
$1,541/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 2/18/2026 | Listed for sale | $185,000-2.6%$68/sqft |
Source: Greater Chattanooga Realtors #1528731 Report a problem | ||
| 2/11/2026 | Listing removed | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1507159 Report a problem | ||
| 2/10/2025 | Listed for sale | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1507159 Report a problem | ||
| 2/5/2025 | Listing removed | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
| 10/28/2024 | Contingent | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
| 10/28/2024 | Listed for sale | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
| 9/16/2024 | Contingent | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
| 9/12/2024 | Listed for sale | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
| 9/6/2024 | Pending sale | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
| 9/4/2024 | Listed for sale | $190,000$70/sqft |
Source: Greater Chattanooga Realtors #1398635 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $1,264 | $29,350 |
| 2023 | $1,264 | $29,350 |
| 2022 | $1,264 +92.4% | $29,350 |
| 2021 | $657 +17.4% | $29,350 +45.1% |
| 2020 | $559 | $20,225 |
| 2019 | $559 | $20,225 |
| 2018 | $559 -45.1% | $20,225 |
| 2017 | $1,019 +3.1% | $20,225 |
| 2016 | $988 | -- |
| 2015 | $988 | $19,075 |
| 2014 | $988 +10.6% | -- |
| 2013 | $893 | $19,075 +8.4% |
| 2012 | $893 | $17,600 |
| 2011 | $893 +83.5% | $17,600 |
| 2010 | $487 | $17,600 |
| 2009 | $487 | $17,600 +13.7% |
| 2008 | -- | $15,475 |
| 2007 | -- | $15,475 |
| 2006 | -- | $15,475 |
| 2005 | -- | $15,475 +18.8% |
| 2004 | -- | $13,025 |
| 2003 | -- | $13,025 |
| 2002 | -- | $13,025 |
| 2001 | -- | $13,025 +14% |
| 2000 | -- | $11,425 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$1,039/mo
Principal & interest
$954
Property taxes
$85
Climate risks
Neighborhood: 37412
Nearby schools
GreatSchools rating
- 3/10East Ridge Elementary SchoolGrades: PK-5Distance: 1.2 mi
- 4/10East Ridge Middle SchoolGrades: 6-8Distance: 1.8 mi
- 3/10East Ridge High SchoolGrades: 9-12Distance: 1.8 mi
Schools provided by the listing agent
- Elementary: East Ridge Elementary
- Middle: East Ridge Middle
- High: East Ridge High
Source: Greater Chattanooga Realtors. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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