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    153 Wade Ln Oak Ridge, TN 37830

    View on Map
    Sponsored
    For Sale
    $250,000

    MULTI_FAMILY - Oak Ridge, TN

    Property size:
    2,042 SF
    Lot size:
    0.47 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 18 at 6:06 pm

    Property Features for 153 Wade Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4
    Bedrooms
    5
    APN
    099C B 04500 000
    Parking features
    Off Street
    Patio and Porch features
    Porch
    Appliances
    Range
    Size
    2,042 SF
    Lot size
    0.47 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Ceiling Fan(s), Window Unit(s)

    Building Details

    Year built
    1943
    Number of units
    2
    Flooring type
    Tile, Hardwood
    Building materials
    Vinyl Siding, Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Chris Ball

    Keller Williams Realty (865) 694-5904

    Listing agent Chris Ball (423) 765-5153

    Listing date Mar 18, 2026

    MLS# 1332532

    Copyright © 2026 East Tennessee 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

    Oak Ridge Duplex Investment Opportunity

    Located in Oak Ridge, this duplex at 153 Wade Lane presents an investor opportunity with rental potential. The property includes two separate units with individual utility meters. One unit features 3 bedrooms and 1 bath, previously rented for $1,275 per month. The other unit has 2 bedrooms and 1 bath, previously rented for $975 per month. Both units are currently vacant, offering the opportunity to place tenants at current market rents or for owner occupancy while renting the other unit. Recent improvements include a renovated kitchen in one of the units and new water heaters. Situated on a 0.47 acre lot, the property provides additional space and privacy. Located at the end of the community, it offers a quiet and private setting while being minutes from Oak Ridge shopping, restaurants, and interstate access for commuting to Knoxville or surrounding employment centers. Separate electric and water meters allow for efficient property management and reduced owner utility expenses. The property is 2,042 square feet and is located in Anderson County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oak Ridge
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.264622
    Latitude
    36.025086

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    FAQs

    What type of property is this?
    Duplex - Duplex in Oak Ridge with strong rental income potential.
    Where is this duplex located?
    The property is located at 153 Wade Ln Oak Ridge, TN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Strong rental income potential with two units and existing rental history.; - Separate utility meters (electric and water) for efficient property management and reduced owner expenses.; - Set market rents with both units currently vacant or 'house hack' by living in one unit.
    (423) 765-5153
    Request Owner's contact information
    153 Wade Ln Oak Ridge, TN 37830
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    Oak Ridge, TN 37830
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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
    153 Wade Ln Oak Ridge, TN 37830
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    We can help!
    Listing Contact
    Chris Ball
    Real Estate License ID: 40000695
    (423) 765-5153 (865) 694-5904 (303) 332-6954
    Learn more
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