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    2024 Park Lane Andersonville, TN 37705

    View on Map
    Pending
    $399,900

    MULTI_FAMILY - Andersonville, TN

    Property size:
    2,106 SF
    Lot size:
    0.50 Acres
    Added:
    Sep 12, 2025
    Days on Market:
    202
    Last Refresh:
    Apr 1 at 2:06 pm

    Property Features for 2024 Park Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Off Street
    Patio and Porch features
    Porch, Patio
    Interior features
    Walk-In Closet(s), Cathedral Ceiling(s), Pantry
    Exterior features
    Windows - Vinyl
    Appliances
    Dishwasher, Microwave, Range, Refrigerator
    Standard status
    Pending
    APN
    003G A 001.00
    Size
    2,106 SF
    Lot size
    0.50 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    1249

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air

    Building Details

    Year built
    2004
    Number of units
    2
    Flooring type
    Hardwood, Carpet, Tile, Laminate
    Building materials
    Vinyl Siding, Block, Frame
    Roof type
    Shingle, Asphalt

    We can help!

    Listing Contact
    Danny Slater

    Listing agent Danny Slater

    Listing office Crye-Leike Realtors 1666 Oak Ridge Turnpike, Oak Ridge, TN

    Listing date Sep 12, 2025

    MLS# 1315199 Listing URL

    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.

    Overview

    Lakeside Duplex with Income Potential

    This lakeside duplex offers a combination of comfort, income potential, and natural beauty. The main unit features an open floor plan with two bedrooms and two bathrooms, including a primary suite with a floor-to-ceiling window overlooking the private backyard and seasonal views of Norris Lake. A full bathroom and laundry room are located on the main level, while two sets of French doors lead to an elevated back deck. The second unit is a fully equipped walkout basement apartment with two bedrooms, one bathroom, a full kitchen, and its own laundry room. This additional living space adds flexibility and value, suitable for extended family, guests, or as a rental. The property is a proven short-term rental and offers potential for long-term rental income or use as a full-time home. Outside, a paved driveway and a fire pit area create a welcoming space for gatherings. Located minutes from Anderson County Park, the property provides access to a free boat launch, lakefront picnic and swimming areas, a playground, and walking trails along the shores of Norris Lake. The property is located in Andersonville, TN. The lot size is 0.5 acres and the property size is 2106 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Andersonville
    County
    Anderson
    State
    Tennessee
    Longitude
    -84.029724
    Latitude
    36.281944

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    FAQs

    What type of property is this?
    Duplex - Versatile duplex near Norris Lake, ideal for rental income.
    Where is this duplex located?
    The property is located at 2024 Park Lane Andersonville, TN.
    What is the asking price?
    The asking price for this property is $399,900.
    What are key features of this property?
    This property features: Lakeside duplex with income potential as a proven short‑term or long‑term rental.; Main unit features seasonal lake views, two bedrooms, two bathrooms, and an elevated back deck.; Fully equipped walkout basement apartment with two bedrooms, one bathroom, kitchen, and laundry room.
    (865) 254-1640
    We can help!
    Listing Contact
    Danny Slater
    Learn More
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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
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