Renovated Duplex with 10-Foot
For Sale
$399,999
1709 E 5th Ave, Knoxville, TN 37917
MULTI_FAMILY - Knoxville, TN
Property Size2,721 SF
Price / SF$147
Days on Market98
Property Features for 1709 E 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 5
Parking features
Off Street
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
Elmwood
Directions
I-40 to Broadway exit, north on N Broadway, right on E 5th Ave. property on right at 1709 E 5th Ave.
Standard status
Active
APN
082PK031
Size
2,721 SF
Taxes and HOA fees
Tax Annual Amount
2549
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Year built
1920
Number of units
2
Flooring type
Tile
Building materials
Frame
Roof type
Shingle
Listing Agency:
Slyman Real Estate
(865) 862-6161
Listed By:
Shardae Harris-Green
(865) 414-6265
Added: May 4
Changed: Aug 1
Last Checked: Aug 9 at 4:06PM
MLS# 1339530
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.
Investment Insights
Based on property information with market context.
1709 E 5th Ave is a completely renovated frame duplex built in 1920, offering 2,721 square feet of residential space and off-street parking. Interior features include 10-foot ceilings and tile flooring. The upper unit has 3 bedrooms and 1 bathroom, while the lower unit has 2 bedrooms and 1 bathroom, for a flexible unit mix across both levels.
Heating is central and natural gas, and cooling is central air. The duplex includes in-unit appliances such as a dishwasher, microwave, range, refrigerator, washer, and dryer, supported by the home’s central mechanical systems.
Adjacent land at 1713 E. 5th Ave is also available for purchase, which may support assemblage or expanded investment opportunities. Showings are by appointment only and tenants should not be disturbed.
Heating is central and natural gas, and cooling is central air. The duplex includes in-unit appliances such as a dishwasher, microwave, range, refrigerator, washer, and dryer, supported by the home’s central mechanical systems.
Adjacent land at 1713 E. 5th Ave is also available for purchase, which may support assemblage or expanded investment opportunities. Showings are by appointment only and tenants should not be disturbed.
Key Highlights
- Completely renovated frame duplex built in 1920 with 2,721 SF
- 10‑foot ceilings and tile flooring
- Upper unit: 3 bedrooms, 1 bathroom; lower unit: 2 bedrooms, 1 bathroom
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
$26,536
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
6.63%
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%
$530,720
$530.7K
Cap Rate 7%
$379,086
$379.1K
Cap Rate 9%
$294,844
$294.8K
Market Conditions
NOI Build-Up for 2,721 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
$40.8K $15.00/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$37.9K $13.93/SF
− OpEx
−$11.4K −$4.18/SF
NOI
$26.5K $9.75/SF
Area
Knoxville, TN
Vacancy
7.12%
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%
$530,720
Cap Rate 7%
$379,086
Cap Rate 9%
$294,844
Alternative Uses
Best Use
Multifamily LT 5
$379.1K
$331.7K – $442.3K
NOI $26,536 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$348.8K
$305.2K – $407.0K
NOI $24,419 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$673.9K
$589.7K – $786.3K
NOI $47,176 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
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?
Duplex - Renovated duplex in Knoxville featuring 10-foot ceilings, central HVAC, and off-street parking for two units.
Where is this duplex located?
The property is located at 1709 E 5th Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Completely renovated frame duplex built in 1920 with 2,721 SF; 10‑foot ceilings and tile flooring; Upper unit: 3 bedrooms, 1 bathroom; lower unit: 2 bedrooms, 1 bathroom
