Updated Duplex with 2024
For Sale
$300,000
2430 Parkview Ave, Knoxville, TN 37917
MULTI_FAMILY - Knoxville, TN
Property Size2,231 SF
Price / SF$134.47
Days on Market130
Property Features for 2430 Parkview Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Dining Room, Bathroom 3, Bedroom 2, Bathroom 1
Parking features
Off Street, On Street
Patio and Porch features
Porch
Interior features
Pantry
Appliances
Range, Refrigerator
Subdivision
Cold Springs
Elementary school
Sarah M Greene/Magnet
Middle school
Vine/Magnet
High school
Austin East/Magnet
Directions
2From I-40, take Exit 390 for US-441/Chapman Hwy. Head north on Chapman Hwy toward downtown Knoxville. Continue for approximately 2.5 miles, then turn right onto S. Chilhowee Drive. Proceed for about 0.7 miles, then turn left onto Parkview Ave. Continue on Parkview Ave to the property at 2430 Parkview Ave, located on the right.
Standard status
Active
APN
082OH008
Size
2,231 SF
Taxes and HOA fees
Tax Annual Amount
3466
Utilities
Heating system
Electric (Heating), Natural Gas, Central, Baseboard
Cooling system
Central Air, Ceiling Fan(s), Window Unit(s)
Building Details
Year built
1920
Number of units
2
Flooring type
Hardwood, Laminate
Building materials
Vinyl Siding, Brick, Frame
Roof type
Shingle
Listing Agency:
eXp Realty, LLC
(888) 519-5113
Listed By:
Justin Myers · License #3215492
(865) 730-0773
Added: Apr 16
Changed: Aug 3
Last Checked: Aug 23 at 10:06AM
MLS# 1337025
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.
Updated duplex at 2430 Parkview Ave in Knoxville, TN featuring two separate units. The downstairs unit is 1,666 SF with two bedrooms and two bathrooms and includes hardwood flooring, 12-foot ceilings, and a fireplace. The upstairs unit is 706 SF with one bedroom and one bathroom and is currently vacant. The property includes a porch and a pantry, with vinyl siding, brick, and frame construction materials.
Major updates in 2024 include a new roof, new drywall, a downstairs kitchen, refinished hardwood floors, full interior and exterior paint, new toilets, and bathroom improvements. Additional updates in 2025 include a new downstairs water heater and new HVAC with ductwork.
Heating is electric and natural gas with central and baseboard options, and cooling is provided by central air, ceiling fans, and window units. Parking is available off street and on street. The property is approximately 5 minutes from Downtown Knoxville and less than 10 minutes to the University of Tennessee, with nearby access to Old City, Market Square, and local dining, breweries, shopping, and the Knoxville Botanical Garden. Buyer to verify all information.
Major updates in 2024 include a new roof, new drywall, a downstairs kitchen, refinished hardwood floors, full interior and exterior paint, new toilets, and bathroom improvements. Additional updates in 2025 include a new downstairs water heater and new HVAC with ductwork.
Heating is electric and natural gas with central and baseboard options, and cooling is provided by central air, ceiling fans, and window units. Parking is available off street and on street. The property is approximately 5 minutes from Downtown Knoxville and less than 10 minutes to the University of Tennessee, with nearby access to Old City, Market Square, and local dining, breweries, shopping, and the Knoxville Botanical Garden. Buyer to verify all information.
Key Highlights
- 1,666 SF downstairs unit with 2 bedrooms and 2 bathrooms; hardwoods, 12‑foot ceilings, and fireplace
- 706 SF upstairs unit with 1 bedroom and 1 bathroom, currently vacant
- Major 2024 updates: new roof, new drywall, downstairs kitchen, refinished hardwood floors, interior and exterior paint
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
$21,758
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
7.25%
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%
$435,160
$435.2K
Cap Rate 7%
$310,829
$310.8K
Cap Rate 9%
$241,756
$241.8K
Market Conditions
NOI Build-Up for 2,231 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
$33.5K $15.00/SF
− Vacancy
−$2.4K −$1.07/SF
EGI
$31.1K $13.93/SF
− OpEx
−$9.3K −$4.18/SF
NOI
$21.8K $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%
$435,160
Cap Rate 7%
$310,829
Cap Rate 9%
$241,756
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$272.0K – $362.6K
NOI $21,758 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$286.0K
$250.3K – $333.7K
NOI $20,022 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$552.6K
$483.5K – $644.7K
NOI $38,680 @ 7.0% cap · market cap 12.89%
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
526
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 - Updated duplex with a rented downstairs unit and vacant upstairs unit, plus off- and on-street parking.
Where is this duplex located?
The property is located at 2430 Parkview Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,666 SF downstairs unit with 2 bedrooms and 2 bathrooms; hardwoods, 12‑foot ceilings, and fireplace; 706 SF upstairs unit with 1 bedroom and 1 bathroom, currently vacant; Major 2024 updates: new roof, new drywall, downstairs kitchen, refinished hardwood floors, interior and exterior paint
