Furnished Duplex with Rental
For Sale
$299,900
2635 Gaston Ave, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size1,528 SF
Price / SF$196.27
Days on Market182
Property Features for 2635 Gaston Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2
Parking features
On Street, Off Street
Patio and Porch features
Porch
Appliances
Dishwasher, Range, Refrigerator
Subdivision
N Place Add
Elementary school
Belle Morris
Middle school
Whittle Springs
High school
Fulton
Directions
I-40E; Use the 2nd from the right lane to take exit 390 for Cherry St; Turn left onto N Cherry St; Turn left onto Citrus St; Citrus St turns slightly right and becomes Gaston Ave; property on the left. Sign on property.
Standard status
Active
APN
070OH015
Size
1,528 SF
Taxes and HOA fees
Tax Annual Amount
2200
Utilities
Heating system
Central, Electric (Heating), Baseboard
Cooling system
Central Air, Window Unit(s)
Amenities
washer and dryer connections
Building Details
Year built
1940
Number of units
2
Flooring type
Tile, Laminate, Vinyl, Hardwood
Building materials
Vinyl Siding, Block
Roof type
Shingle, Metal
Listing Agency:
The Land & Legacy Group
(865) 235-8655
Listed By:
Blake Gonyea
(865) 963-8351
Added: Apr 10
Changed: Sep 16
Last Checked: Oct 8 at 1:06AM
MLS# 1336196
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 1,528-square-foot duplex contains two separately accessed residences, each arranged with two bedrooms and one bathroom. Unit A includes washer and dryer connections, while Unit B is furnished for short-term rental use with a living room, equipped kitchen, dining space, and one bedroom currently used as an office. Appliances include a dishwasher, range, and refrigerator.
Property improvements include a roof replacement in 2023, an updated kitchen and HVAC system in one unit, and a new main sewer line. The building was constructed in 1940 and features vinyl siding and block construction, multiple flooring types, porches, and both off-street and on-street parking. Central air, window units, electric heating, baseboard heat, and central heating are listed among the property systems.
Property improvements include a roof replacement in 2023, an updated kitchen and HVAC system in one unit, and a new main sewer line. The building was constructed in 1940 and features vinyl siding and block construction, multiple flooring types, porches, and both off-street and on-street parking. Central air, window units, electric heating, baseboard heat, and central heating are listed among the property systems.
Key Highlights
- Two‑unit duplex with separate entrances and 1,528 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Unit B is fully furnished for short‑term rental use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,902
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,040
$298.0K
Cap Rate 7%
$212,886
$212.9K
Cap Rate 9%
$165,578
$165.6K
Market Conditions
NOI Build-Up for 1,528 SF
Gross rent
$22.9K $15.00/SF
− Vacancy
−$1.6K −$1.07/SF
EGI
$21.3K $13.93/SF
− OpEx
−$6.4K −$4.18/SF
NOI
$14.9K $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 Rate 5%
$298,040
Cap Rate 7%
$212,886
Cap Rate 9%
$165,578
Alternative Uses
Best Use
Multifamily LT 5
$212.9K
$186.3K – $248.4K
NOI $14,902 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$195.9K
$171.4K – $228.6K
NOI $13,713 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$378.5K
$331.2K – $441.5K
NOI $26,492 @ 7.0% cap · market cap 8.83%
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
356
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
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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 entered residences include one furnished unit configured for short-term rental use and one unit with laundry connections.
Where is this duplex located?
The property is located at 2635 Gaston Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with separate entrances and 1,528 square feet; Each unit includes 2 bedrooms and 1 bathroom; Unit B is fully furnished for short‑term rental use
