Two-Home Multifamily
116 Flanders Ave #2, Harriman, TN 37748
For Sale
$265,000
The residences offer two- and three-bedroom layouts, carport parking, and shared placement on one parcel.
Property Size1,842 SF
Price / SF$143.87
Days on Market182
Property Features for 116 Flanders Ave #2
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
carport parking
elevated deck
washer/dryer
Pantry
Windows - Vinyl
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Wallace Nelson Real Estate
(865) 982-0500
Listed By:
Keira Ridout
(865) 567-9364
Source:
Kesrealty
Added: May 17
Changed: Nov 12
Last Checked: Nov 12 at 2:31PM
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 Nelson Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property consists of two homes on one parcel, with a combined 1,842 square feet. One residence has two bedrooms and one bathroom; the other has three bedrooms and one bathroom. Both include carport parking and convey with kitchen appliances and a washer and dryer set. The two-bedroom home also features an elevated deck.
Bowers Elementary and nearby shopping are within walking distance.
Bowers Elementary and nearby shopping are within walking distance.
Key Highlights
- Two homes on one parcel, totaling 1,842 square feet
- Two‑bedroom, one‑bath home and three‑bedroom, one‑bath home
- Carport parking at both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,531
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$330,620
$330.6K
Cap Rate 7%
$236,157
$236.2K
Cap Rate 9%
$183,678
$183.7K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$32.5K $17.64/SF
− Vacancy
−$2.4K −$1.32/SF
EGI
$30.1K $16.32/SF
− OpEx
−$13.5K −$7.34/SF
NOI
$16.5K $8.97/SF
Area
Roane County, 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 Rate 5%
$330,620
Cap Rate 7%
$236,157
Cap Rate 9%
$183,678
Alternative Uses
Best Use
Apartment 5plus
$236.2K
$206.6K – $275.5K
NOI $16,531 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$456.2K
$399.2K – $532.3K
NOI $31,936 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
Explore this area
Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Roane County, TN
Properties on Market for Multifamily properties in Roane County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - The residences offer two- and three-bedroom layouts, carport parking, and shared placement on one parcel.
Where is this multifamily property located?
The property is located at 116 Flanders Ave #2 Harriman, TN.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two homes on one parcel, totaling 1,842 square feet; Two‑bedroom, one‑bath home and three‑bedroom, one‑bath home; Carport parking at both residences
