4-Unit Apartment
For Sale
$389,900
725 Chilhowee St, Harriman, TN 37748
MULTI_FAMILY - Harriman, TN
Property Size3,796 SF
Price / SF$102.71
Days on Market128
Property Features for 725 Chilhowee St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 6
Parking features
Off Street
Appliances
Range, Refrigerator
Directions
Turn right onto S Roane Street, Turn Left onto Carter Ave NW, Turn right onto Margrave Drive, Slight right onto Chilhowee Street Property on your right
Subdivision
Roane County - 31
Standard status
Active
APN
026C C 00400 000
Size
3,796 SF
Taxes and HOA fees
Tax Annual Amount
1833
Utilities
Heating system
Electric (Heating)
Cooling system
Window Unit(s)
Amenities
off-street parking
Building Details
Year built
1951
Number of units
4
Flooring type
Vinyl, Hardwood
Building materials
Frame
Roof type
Shingle
Listing Agency:
Southland Brokers
(865) 694-6111
Listed By:
Raj Cheema
(865) 466-7240
Added: Apr 28
Changed: Aug 7
Last Checked: Sep 2 at 3:06PM
MLS# 1338585
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 well-maintained 4-unit apartment building (quadplex) offers off-street parking for tenants and units where tenants are responsible for their own utilities. The building is constructed with frame materials and was built in 1951.
Inside, units feature electric heating and window unit(s) for cooling. Flooring includes vinyl and hardwood, and appliances listed for the property include a range and refrigerator.
The property is located at 725 Chilhowee St in Harriman, Tennessee (Roane County). It presents an investment-focused residential income opportunity with four separate units within a single building.
Inside, units feature electric heating and window unit(s) for cooling. Flooring includes vinyl and hardwood, and appliances listed for the property include a range and refrigerator.
The property is located at 725 Chilhowee St in Harriman, Tennessee (Roane County). It presents an investment-focused residential income opportunity with four separate units within a single building.
Key Highlights
- 4‑unit apartment building (quadplex) with tenant‑paid utilities
- Off‑street parking for tenants
- Electric heating with window‑unit cooling
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
$34,067
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
8.74%
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%
$681,340
$681.3K
Cap Rate 7%
$486,671
$486.7K
Cap Rate 9%
$378,522
$378.5K
Market Conditions
NOI Build-Up for 3,796 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
$67.0K $17.64/SF
− Vacancy
−$5.0K −$1.32/SF
EGI
$61.9K $16.32/SF
− OpEx
−$27.9K −$7.34/SF
NOI
$34.1K $8.97/SF
Area
Roane County, TN
Vacancy
7.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$681,340
Cap Rate 7%
$486,671
Cap Rate 9%
$378,522
Alternative Uses
Best Use
Multifamily LT 5
$528.9K
$462.8K – $617.0K
NOI $37,020 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$486.7K
$425.8K – $567.8K
NOI $34,067 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$940.2K
$822.7K – $1.10M
NOI $65,814 @ 7.0% cap · market cap 16.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
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?
Quadplex - Well-maintained quadplex with off-street parking, tenant-paid utilities, electric heat, and window-unit cooling.
Where is this quadplex located?
The property is located at 725 Chilhowee St Harriman, TN.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: 4‑unit apartment building (quadplex) with tenant‑paid utilities; Off‑street parking for tenants; Electric heating with window‑unit cooling
