Multifamily Property with Separate
For Sale
$339,900
108 N Knob Creek Rd, Seymour, TN 37865
Includes a brick home, a double-wide home, and distinct utility systems for flexible occupancy arrangements.
Property Size3,417 SF
Price / SF$99.47
Days on Market9
Property Features for 108 N Knob Creek Rd
General Information
Standard status
Active
Size
3,417 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
need some work
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Year Built
1960
Listing Agency:
Keller Williams Realty
(865) 382-4921
Listed By:
Dustin Weaver
Source:
Fiddletreerealty
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 9:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This multifamily property combines a brick home with a separate double-wide home across 3,417 square feet. Built in 1960, the brick residence has kitchen facilities on both the main level and in the basement, creating a three-unit configuration with potential income-producing space. The basement unit requires work, particularly to complete its condition and usability.
Utility infrastructure is divided across the improvements. The brick home has two electrical meters, one water meter, and two septic tanks. The double-wide has its own electric meter, water meter, and separate septic system. Located at 108 N Knob Creek Rd in Seymour, Tennessee, the property offers a multi-unit residential layout with distinct systems serving the separate improvements.
Utility infrastructure is divided across the improvements. The brick home has two electrical meters, one water meter, and two septic tanks. The double-wide has its own electric meter, water meter, and separate septic system. Located at 108 N Knob Creek Rd in Seymour, Tennessee, the property offers a multi-unit residential layout with distinct systems serving the separate improvements.
Key Highlights
- Three potential income‑producing units on one property
- 3,417 SF multifamily property built in 1960
- Brick home includes kitchens on the main level and in the basement
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
$25,371
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
7.46%
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%
$507,420
$507.4K
Cap Rate 7%
$362,443
$362.4K
Cap Rate 9%
$281,900
$281.9K
Market Conditions
NOI Build-Up for 3,417 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
$51.3K $15.00/SF
− Vacancy
−$5.1K −$1.50/SF
EGI
$46.1K $13.50/SF
− OpEx
−$20.8K −$6.08/SF
NOI
$25.4K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /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%
$507,420
Cap Rate 7%
$362,443
Cap Rate 9%
$281,900
Alternative Uses
Best Use
Apartment 5plus
$362.4K
$317.1K – $422.9K
NOI $25,371 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,870 @ 7.0% cap · market cap 29.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 37865, TN
22,567
Population
10,329
Households
2.2
Avg Household Size
44
Median Age
23%
College-Educated
93%
High-School Grad
73.3 sq mi
ZIP Area
308
Density / Sq Mi
$88,410
Median Household Income
$43,269
Median Earnings
$1,351
Median Rent
$276,900
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?
Multifamily property - Includes a brick home, a double-wide home, and distinct utility systems for flexible occupancy arrangements.
Where is this multifamily property located?
The property is located at 108 N Knob Creek Rd Seymour, TN.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Three potential income‑producing units on one property; 3,417 SF multifamily property built in 1960; Brick home includes kitchens on the main level and in the basement
