Two-Unit Duplex with
New
For Sale
$299,000
4806 Central Avenue Pike, Knoxville, TN 37912
Multi-Family, Knoxville, TN
Property Size1,325 SF
Lot Size0.41 Acres
Price / SF$225.66
Days on Market4
Property Features for 4806 Central Avenue Pike
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage, Off Street
Patio and Porch features
Porch
Appliances
Range, Refrigerator
Subdivision
James Warters Pts 11 12
Elementary school
Inskip
Middle school
Gresham
High school
Central
Directions
I-75 Northbound, Exit onto Merchants Road (R) Merchants Rd at Exit Drive One Block at to Red Light (R) Central Avenue Pike, Drive Approx. One Half Mile To Duplex Property On The Left.
Standard status
Active
APN
068LF054
Size
1,325 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Annual Amount
2699
Utilities
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1940
Number of units
2
Flooring type
Tile, Laminate
Building materials
Vinyl Siding, Frame
Roof type
Composition
Listing Agency:
Keller Williams Realty
(865) 694-5904
Listed By:
Jonathan D Harper
(865) 347-4454
Added: Sep 18
Last Checked: Sep 21 at 4:06AM
MLS# 1356032
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 duplex contains two residential units, each arranged with two bedrooms and one bathroom. The property includes garage areas suitable for storage, additional off-street parking, porches, and a 0.41-acre lot. Built in 1940, the structure features vinyl siding and frame construction with composition roofing.
Interior features include tile and laminate flooring, central air conditioning, and electric forced-air heating. Each side is equipped with a range and refrigerator. The property is located near downtown Knoxville and freeway access, with a Central Avenue Pike address in Knoxville, Tennessee.
Interior features include tile and laminate flooring, central air conditioning, and electric forced-air heating. Each side is equipped with a range and refrigerator. The property is located near downtown Knoxville and freeway access, with a Central Avenue Pike address in Knoxville, Tennessee.
Key Highlights
- Two‑unit duplex with 2‑bedroom, 1‑bath layouts on each side
- 0.41‑acre lot with garage and off‑street parking
- 1,325 square feet of property size
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
$12,922
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
4.32%
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%
$258,440
$258.4K
Cap Rate 7%
$184,600
$184.6K
Cap Rate 9%
$143,578
$143.6K
Market Conditions
NOI Build-Up for 1,325 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
$19.9K $15.00/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$18.5K $13.93/SF
− OpEx
−$5.5K −$4.18/SF
NOI
$12.9K $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 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%
$258,440
Cap Rate 7%
$184,600
Cap Rate 9%
$143,578
Alternative Uses
Best Use
Multifamily LT 5
$184.6K
$161.5K – $215.4K
NOI $12,922 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$169.9K
$148.6K – $198.2K
NOI $11,891 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$328.2K
$287.2K – $382.9K
NOI $22,972 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Explore this area
Business Placement
Demographics for 37912, TN
22,313
Population
10,916
Households
2
Avg Household Size
36
Median Age
23%
College-Educated
88%
High-School Grad
10.6 sq mi
ZIP Area
2,105
Density / Sq Mi
$44,754
Median Household Income
$30,859
Median Earnings
$1,050
Median Rent
$185,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Side-by-side residential units offer separate living arrangements with garage and off-street parking.
Where is this duplex located?
The property is located at 4806 Central Avenue Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom, 1‑bath layouts on each side; 0.41‑acre lot with garage and off‑street parking; 1,325 square feet of property size
