Renovated Duplex with Tall
For Sale
$399,999
1709 E 5th Ave, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size2,721 SF
Price / SF$147
Days on Market145
Property Features for 1709 E 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 1
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
Natural Gas, Central
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: Sep 12
Last Checked: Sep 25 at 6:06AM
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.
This 2,721-square-foot duplex, built in 1920, combines a historic frame structure with renovations completed within the last five years. The upper residence contains three bedrooms and one bathroom, while the lower residence provides two bedrooms and one bathroom. Both units feature large bedrooms and 10-foot ceilings, with tile flooring and a shingle roof. Central heating and cooling serve the property, and the kitchen appliance package includes a range, refrigerator, dishwasher, microwave, washer, and dryer.
Located at 1709 E 5th Ave in Knoxville, the property is minutes from the new stadium and downtown. Dining, entertainment, and ongoing development are also identified in the surrounding area. Off-street parking is available, and showings are scheduled by appointment with tenants occupying the property.
Located at 1709 E 5th Ave in Knoxville, the property is minutes from the new stadium and downtown. Dining, entertainment, and ongoing development are also identified in the surrounding area. Off-street parking is available, and showings are scheduled by appointment with tenants occupying the property.
Key Highlights
- 2,721‑square‑foot duplex at 1709 E 5th Ave, Knoxville, TN 37917
- Upper unit offers 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom
- Renovations were completed within the last five years
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
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
707
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured units offer updated interiors, spacious bedrooms, and off-street parking near downtown Knoxville.
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: 2,721‑square‑foot duplex at 1709 E 5th Ave, Knoxville, TN 37917; Upper unit offers 3 bedrooms and 1 bathroom; lower unit has 2 bedrooms and 1 bathroom; Renovations were completed within the last five years
