Building Details

Year Built 1940

Listing Agency: United Real Estate Solutions

Listed By: Giang Nguyen Show Phone

Source: Compass

Added: Mar 25 Changed: Oct 13 Last Checked: Oct 15 at 1:54AM

Report an Issue

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 United Real Estate Solutions

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1,632-square-foot duplex, built in 1940, contains two separate residences. The occupied unit offers two bedrooms and one bathroom and is leased through Section 8, with residents handling their own utilities. The second residence includes one bedroom and one bathroom and is currently vacant, allowing for owner occupancy or a new rental arrangement.

Located at 117 Atlantic Avenue in Knoxville, Tennessee, the property has a brick exterior and a combination of central cooling and window-unit cooling. Heating includes central, natural gas, and space-heater systems. The two-unit configuration provides separate living spaces within a single residential income property.

Key Highlights

• Two‑unit duplex with 1,632 square feet
• One 2‑bedroom, 1‑bath unit leased through Section 8
• Second unit has 1 bedroom and 1 bath and is currently vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,916

Cap Rate

7.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$318,320 $318.3K

Cap Rate 7%

$227,371 $227.4K

Cap Rate 9%

$176,844 $176.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,632 SF

Gross rent

$24.5K $15.00/SF

− Vacancy

−$1.7K −$1.07/SF

EGI

$22.7K $13.93/SF

− OpEx

−$6.8K −$4.18/SF

NOI

$15.9K $9.75/SF

Area

Knoxville, 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 Rate 5%

$318,320

Cap Rate 7%

$227,371

Cap Rate 9%

$176,844

Alternative Uses

Best Use

Multifamily LT 5

$227.4K

$199.0K – $265.3K (±1% cap)

NOI $15,916 @ 7.0% cap · market cap 7.96%

Second Best

Apartment 5plus

$209.2K

$183.1K – $244.1K (±1% cap)

NOI $14,646 @ 7.0% cap · market cap 7.33%

Theoretical Best

Office A

$404.2K

$353.7K – $471.6K (±1% cap)

NOI $28,295 @ 7.0% cap · market cap 14.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

589

Businesses Nearby

Explore this area Business Placement

Demographics for 37917, TN

25,013

Population

14,216

Households

1.8

Avg Household Size

39

Median Age

31%

College-Educated

87%

High-School Grad

9.5 sq mi

ZIP Area

2,633

Density / Sq Mi

$51,232

Median Household Income

$37,853

Median Earnings

$1,063

Median Rent

$189,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Similar For Sale Nearby

See more

Furnished Duplex with Rental Unit

2635 Gaston Ave, Knoxville, TN 37917

$299,900

1,528 SF

View details

Two-Unit Duplex with Garages

4806 Central Avenue Pike, Knoxville, TN 37912

$275,000

1,325 SF

View details

Updated Duplex with Carport

5800 Fountain Rd, Knoxville, TN 37918

$425,000

1,872 SF

View details

Duplex Property With Guest Home

1422 Tipton Station Rd, Knoxville, TN 37920

$455,000

1,859 SF

View details

Updated Duplex with Fireplace

2430 Parkview Ave, Knoxville, TN 37917

$300,000

2,231 SF

View details

Duplex with Separate Driveways

123/125 S Chestnut St, Knoxville, TN 37914

$509,900

2,428 SF

View details

Two-Home Duplex Property

611 Glenoaks Drive, Knoxville, TN 37912

Contact for pricing

1,988 SF

View details

New Construction Duplex

5361/5259 Inskip Rd, Knoxville, TN 37912

$699,999

3,200 SF

View details

Historic Duplex Short-Term Rental

812 N 4th Ave, Knoxville, TN 37917

$774,900

3,177 SF

View details

Duplex With Updated Systems

5121 Montrose Rd, Knoxville, TN 37918

Contact for pricing

3,640 SF

View details

Brick Duplex with Private Entrances

204 Wynn Ave, Knoxville, TN 37920

$364,900

View details

Duplex Redevelopment Site

2704 Sevier Ave, Knoxville, TN 37920

Contact for pricing

0.50 Acres

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit residential income property with one leased residence and a second unit available for occupancy or new tenancy.

Where is this duplex located?

The property is located at 117 Atlantic Avenue Knoxville, TN.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: Two‑unit duplex with 1,632 square feet; One 2‑bedroom, 1‑bath unit leased through Section 8; Second unit has 1 bedroom and 1 bath and is currently vacant