Duplex with Two Vacant
For Sale
$175,000
1000 Baker Ave, Knoxville, TN 37920
Multi-Family, Knoxville, TN
Property Size1,787 SF
Lot Size0.19 Acres
Price / SF$97.93
Days on Market28
Property Features for 1000 Baker Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Patio and Porch features
Porch
Appliances
Range, Refrigerator
Subdivision
Jeffery A Kanipe
Directions
From Downtown Knoxville heading south on Henley St/Chapman Hwy. In 1.4 miles turn left onto Woodlawn Pike. In 0.7 Miles turn Turn Left onto E Moody Ave and then in 0.3 Miles Turn Left onto Baker Ave. In 350 Ft the Duplex will be on your Right. No sign on property. Please don't disturb residents.
Standard status
Active
APN
109GC01302
Size
1,787 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
1557
Utilities
Heating system
Central, Electric (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1940
Number of units
2
Flooring type
Vinyl, Laminate
Building materials
Vinyl Siding, Frame
Roof type
Composition
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License #263596
(865) 444-3241
Added: Aug 25
Changed: Sep 14
Last Checked: Sep 21 at 2:06AM
MLS# 1355469
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 1,787-square-foot duplex occupies a 0.19-acre corner lot and contains two vacant units. The lower unit offers two bedrooms and one bathroom, along with a range, refrigerator, and washer/dryer connections. The upper unit is reached by an exterior staircase and includes a range and refrigerator. A separate exterior-access utility closet adds washer/dryer connections. The property was built in 1940 and features vinyl siding over frame construction, vinyl and laminate flooring, central air, and central heating with electric and natural gas service. Foundation repair is needed.
The property includes on-site parking and is positioned near the University of Tennessee, the South Knoxville Waterfront, Baker Creek Bottoms, and the Urban Wilderness. A covered porch and composition roof complete the existing improvements.
The property includes on-site parking and is positioned near the University of Tennessee, the South Knoxville Waterfront, Baker Creek Bottoms, and the Urban Wilderness. A covered porch and composition roof complete the existing improvements.
Key Highlights
- Two‑unit duplex with both units vacant
- 1,787 square feet on a 0.19‑acre corner lot
- Lower unit includes 2 bedrooms, 1 bathroom, range, refrigerator, and washer/dryer connections
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
$16,037
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
9.16%
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%
$320,740
$320.7K
Cap Rate 7%
$229,100
$229.1K
Cap Rate 9%
$178,189
$178.2K
Market Conditions
NOI Build-Up for 1,787 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
$31.5K $17.64/SF
− Vacancy
−$2.4K −$1.32/SF
EGI
$29.2K $16.32/SF
− OpEx
−$13.1K −$7.34/SF
NOI
$16.0K $8.97/SF
Area
Knoxville, 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%
$320,740
Cap Rate 7%
$229,100
Cap Rate 9%
$178,189
Alternative Uses
Best Use
Multifamily LT 5
$249.0K
$217.9K – $290.5K
NOI $17,428 @ 7.0% cap · market cap 9.96%
Second Best
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,037 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$442.6K
$387.3K – $516.4K
NOI $30,982 @ 7.0% cap · market cap 17.70%
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
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 37920, TN
41,210
Population
20,180
Households
2
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
72.3 sq mi
ZIP Area
570
Density / Sq Mi
$61,348
Median Household Income
$35,591
Median Earnings
$1,092
Median Rent
$231,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Corner-lot duplex with separate unit access, on-site parking, and convenient access to South Knoxville destinations.
Where is this duplex located?
The property is located at 1000 Baker Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with both units vacant; 1,787 square feet on a 0.19‑acre corner lot; Lower unit includes 2 bedrooms, 1 bathroom, range, refrigerator, and washer/dryer connections
