Two-Unit
New
For Sale
$175,000
109 Niagara Lane, Oak Ridge, TN 37830
Multi-Family, Oak Ridge, TN
Property Size1,651 SF
Lot Size0.20 Acres
Price / SF$105
Days on Market5
Property Features for 109 Niagara Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Directions
Go west on 62, turn right on Lafayette Dr., turn left on Manchester Rd., left on Manhattan Ave., right on Northwestern Ave. Left on Niagara Lane.
Subdivision
Anderson County - 30
Standard status
Active
APN
100P A 044.00
Size
1,651 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
1078
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1948
Number of units
2
Flooring type
Tile
Building materials
Vinyl Siding, Frame
Roof type
Shingle
Listing Agency:
Southern Charm Homes
(865) 518-4324
Listed By:
Tamara Levine · License #363070
(954) 818-4618
Added: Sep 19
Changed: Sep 20
Last Checked: Sep 23 at 1:06AM
MLS# 1356105
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 1,651-square-foot duplex, built in 1948, is arranged as two vertically separated residences. The lower unit contains 2 bedrooms and 1 bathroom, while the upper unit includes 1 bedroom and 1 bathroom. Vinyl siding, a frame structure, shingle roofing, tile flooring, central heating, electric heat, and central air conditioning are among the property’s existing features.
The property occupies 0.2 acres in Oak Ridge, Tennessee, within Anderson County. Its location provides proximity to Y-12, the marina, shopping, dining, and Oak Ridge schools. The two-unit configuration supports either rental use for both residences or an owner-occupant arrangement with a second unit.
The property occupies 0.2 acres in Oak Ridge, Tennessee, within Anderson County. Its location provides proximity to Y-12, the marina, shopping, dining, and Oak Ridge schools. The two-unit configuration supports either rental use for both residences or an owner-occupant arrangement with a second unit.
Key Highlights
- Two‑unit duplex with 1,651 square feet of building area
- Lower residence offers 2 bedrooms and 1 bathroom
- Upper residence offers 1 bedroom and 1 bathroom
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
$16,101
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
9.20%
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%
$322,020
$322.0K
Cap Rate 7%
$230,014
$230.0K
Cap Rate 9%
$178,900
$178.9K
Market Conditions
NOI Build-Up for 1,651 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
$24.8K $15.00/SF
− Vacancy
−$1.8K −$1.07/SF
EGI
$23.0K $13.93/SF
− OpEx
−$6.9K −$4.18/SF
NOI
$16.1K $9.75/SF
Area
Anderson County, 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%
$322,020
Cap Rate 7%
$230,014
Cap Rate 9%
$178,900
Alternative Uses
Best Use
Multifamily LT 5
$230.0K
$201.3K – $268.4K
NOI $16,101 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$211.7K
$185.2K – $247.0K
NOI $14,817 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$408.9K
$357.8K – $477.1K
NOI $28,624 @ 7.0% cap · market cap 16.36%
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
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 37830, TN
31,839
Population
15,110
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
84.8 sq mi
ZIP Area
375
Density / Sq Mi
$70,795
Median Household Income
$41,293
Median Earnings
$1,076
Median Rent
$234,500
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 - Up-and-down layout with separate one- and two-bedroom residences suited to rental or owner-occupied use.
Where is this duplex located?
The property is located at 109 Niagara Lane Oak Ridge, 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 1,651 square feet of building area; Lower residence offers 2 bedrooms and 1 bathroom; Upper residence offers 1 bedroom and 1 bathroom
