Historic Duplex with Dual 2-Bedroom
For Sale
$774,900
812 N 4th Ave, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size3,177 SF
Lot Size0.17 Acres
Price / SF$243.91
Days on Market56
Property Features for 812 N 4th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 1
Parking features
On Street, Off Street
Window features
Wood Frames
Patio and Porch features
Porch
Interior features
Cathedral Ceiling(s)
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
Subdivision
Mrs W A Branners Add
Elementary school
Christenberry
Middle school
Vine/Magnet
High school
Austin East/Magnet
Directions
From Downtown Knoxville: Take Hall of Fame Drive north from downtown. Continue straight as Hall of Fame Drive becomes Broadway. Turn left onto East Fifth Avenue. Turn right onto North Fourth Avenue. Continue north approximately 0.2 miles. 812 N 4th Ave will be on your left in the historic Fourth & Gill neighborhood
Standard status
Active
APN
082PA014
Size
3,177 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2212
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1899
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Cedar, Frame
Roof type
Aluminum
Listing Agency:
Real Broker
(844) 591-7325
Listed By:
Quinn Epperly
(865) 963-8462
Added: Aug 3
Changed: Sep 15
Last Checked: Sep 27 at 4:06PM
MLS# 1350530
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.
Built in 1899, this 3,177-square-foot duplex combines historic detailing with a 2019 remodel. Each side includes 2 bedrooms and 2 full bathrooms, with hardwood flooring, stained-glass windows, high ceilings, wood siding, tiled bathrooms, and white shaker cabinetry. Central electric heating and cooling, a full appliance package, a porch, and both on-street and off-street parking add practical functionality. The property is currently configured as a duplex and has commercial zoning with eligibility for Type 2 non-owner occupied short-term rental permits.
The property is located at 812 N 4th Ave in Knoxville’s Historic Fourth & Gill neighborhood, near downtown Knoxville. Restaurants, breweries, shopping, entertainment, and the new baseball stadium are within walking distance or minutes away. The existing layout also provides flexibility for a future single-family configuration, subject to buyer verification and applicable requirements.
The property is located at 812 N 4th Ave in Knoxville’s Historic Fourth & Gill neighborhood, near downtown Knoxville. Restaurants, breweries, shopping, entertainment, and the new baseball stadium are within walking distance or minutes away. The existing layout also provides flexibility for a future single-family configuration, subject to buyer verification and applicable requirements.
Key Highlights
- 3,177‑square‑foot duplex built in 1899
- Two 2‑bedroom, 2‑bathroom units
- Remodeled in 2019 while retaining hardwood floors and stained‑glass windows
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
$30,983
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
4.00%
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%
$619,660
$619.7K
Cap Rate 7%
$442,614
$442.6K
Cap Rate 9%
$344,256
$344.3K
Market Conditions
NOI Build-Up for 3,177 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
$47.7K $15.00/SF
− Vacancy
−$3.4K −$1.07/SF
EGI
$44.3K $13.93/SF
− OpEx
−$13.3K −$4.18/SF
NOI
$31.0K $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%
$619,660
Cap Rate 7%
$442,614
Cap Rate 9%
$344,256
Alternative Uses
Best Use
Multifamily LT 5
$442.6K
$387.3K – $516.4K
NOI $30,983 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$407.3K
$356.4K – $475.2K
NOI $28,512 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$786.9K
$688.5K – $918.0K
NOI $55,082 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,212
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled in 2019 with preserved architectural details, updated bathrooms, and modern interior finishes.
Where is this duplex located?
The property is located at 812 N 4th Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $774,900.
What are key features of this property?
This property features: 3,177‑square‑foot duplex built in 1899; Two 2‑bedroom, 2‑bathroom units; Remodeled in 2019 while retaining hardwood floors and stained‑glass windows
