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    115 Bluegill Way Sevierville, TN 37876

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    Sponsored
    For Sale
    $349,000

    MULTI_FAMILY - Sevierville, TN

    Property size:
    1,300 SF
    Lot size:
    0.30 Acres
    Days on Market:
    29
    Last Refresh:
    Mar 17 at 6:06 pm

    Property Features for 115 Bluegill Way

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    A-1
    Rooms
    Dining Room, Bedroom 2, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1
    Bedrooms
    3
    Bathrooms
    2
    APN
    095E B 001.00
    Parking features
    Off Street
    Patio and Porch features
    Porch
    Interior features
    Ceiling Fan(s), Kitchen/Dining Combo
    Exterior features
    Dock, Storage
    Appliances
    Dryer, Electric Range, Electric Water Heater, Refrigerator, Washer
    Size
    1,300 SF
    Lot size
    0.30 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Central, Heat Pump (Heating)
    Cooling system
    Electric, Heat Pump, Central Air
    Water source
    Public
    Water front features
    Waterfront, Lake Front, Lake
    Water front
    1

    Building Details

    Year built
    1998
    Floors in Building
    1
    Flooring type
    Vinyl, Laminate
    Building materials
    Vinyl Siding
    Roof type
    Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Susie Mull

    TN Living Realty (865) 680-9653

    Listing agent Susie Mull (865) 680-9653

    Listing date Feb 16, 2026

    MLS# 309914

    Copyright © 2026 Great Smoky Mountains 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.

    Learn more

    Property Insight Report

    Overview

    Lakeside Duplex Investment Opportunity

    This one-level duplex in Sevierville, TN, presents an investment opportunity for long-term rentals or Airbnb overnight rentals. Alternatively, it could serve as a private residence for families or those interested in lake activities. Situated in a private community on Douglas Lake, the property benefits from a private community boat ramp and boat dock located off a deep channel of the lake. One side of the duplex features 1 bedroom and 1 bathroom, while the other side offers 2 bedrooms and 1 bathroom. Both sides are currently rented at $1400 per month. Recent improvements include a new HVAC system, new appliances, and new flooring. The roof is approximately 7 years old. The property includes a large covered front porch with lake views and a level front yard extending to the water's edge. Public water and a private septic system are in place, along with two heat pumps and separate water and electric meters for each side. The property is zoned A-1 and has a lot size of 0.3 acres. The building size is 1300 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Sevierville
    County
    Sevier
    State
    Tennessee
    Longitude
    -83.408173
    Latitude
    35.938512

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    FAQs

    What type of property is this?
    Duplex - Sevierville duplex ideal for long-term or overnight rentals.
    Where is this duplex located?
    The property is located at 115 Bluegill Way Sevierville, TN.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: - Lakeside duplex with private community boat ramp and dock on Douglas Lake.; - Income-generating property currently rented at $1400/month per side (1 BR/1 BA and 2 BR/1BA).; - Recent improvements: **new HVAC, new appliances, new flooring**, and a 7-year-old roof.
    (865) 680-9653
    Request Owner's contact information
    115 Bluegill Way Sevierville, TN 37876
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    Sevierville, TN 37876
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    115 Bluegill Way Sevierville, TN 37876
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    Listing Contact
    Susie Mull
    (865) 680-9653
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