Furnished Duplex with Updated
For Sale
$450,000
111 Vienna Rd, Oak Ridge, TN 37830
The property combines a furnished apartment with a larger residence that has accommodated professionals and families.
Property Size2,704 SF
Days on Market126
Property Features for 111 Vienna Rd
General Information
Standard status
Active
Size
2,704 SF
Property subtype
Multi Family Home
Units
Unit Mix
1 x 1BR/1BA, 1 x 5BR/3BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,770
Building Details
Building Size
2,704 SF
Year Built
1943
Units
2
Listing Agency:
Wallace
(865) 719-2873
Listed By:
Mike Jarvis
(865) 719-2873
Source:
Rockytophomeinfo
Added: Apr 7
Changed: Aug 9
Last Checked: Aug 9 at 1:50PM
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 Wallace
Investment Insights
Based on property information with market context.
This duplex, built in 1943, contains two distinct residential sides. One side is furnished as a one-bedroom, one-bath apartment, while the other provides five bedrooms and three full baths. The larger side has been leased to young professionals, families, and lab contractors, while the furnished apartment has served travel nurses and lab contractors.
Property improvements include updated electrical and plumbing completed in 2022, a new HVAC system in 2024, and new windows in 2026. The configuration offers separate living spaces within a single duplex asset and is suited to continued residential leasing based on the uses described.
Property improvements include updated electrical and plumbing completed in 2022, a new HVAC system in 2024, and new windows in 2026. The configuration offers separate living spaces within a single duplex asset and is suited to continued residential leasing based on the uses described.
Key Highlights
- Two‑unit duplex configuration with a 1‑bedroom, 1‑bath furnished side
- Larger side includes 5 bedrooms and 3 full baths
- Furnished apartment has served travel nurses and lab contractors
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
$26,370
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
5.86%
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%
$527,400
$527.4K
Cap Rate 7%
$376,714
$376.7K
Cap Rate 9%
$293,000
$293.0K
Market Conditions
NOI Build-Up for 2,704 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
$40.6K $15.00/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$37.7K $13.93/SF
− OpEx
−$11.3K −$4.18/SF
NOI
$26.4K $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%
$527,400
Cap Rate 7%
$376,714
Cap Rate 9%
$293,000
Alternative Uses
Best Use
Multifamily LT 5
$376.7K
$329.6K – $439.5K
NOI $26,370 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$346.7K
$303.3K – $404.5K
NOI $24,267 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$669.7K
$586.0K – $781.4K
NOI $46,881 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
858
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The property combines a furnished apartment with a larger residence that has accommodated professionals and families.
Where is this duplex located?
The property is located at 111 Vienna Rd Oak Ridge, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex configuration with a 1‑bedroom, 1‑bath furnished side; Larger side includes 5 bedrooms and 3 full baths; Furnished apartment has served travel nurses and lab contractors
