Brick Duplex with Separate
For Sale
$199,900
117 Atlantic Ave, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size1,632 SF
Price / SF$122.49
Days on Market165
Property Features for 117 Atlantic Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Subdivision
Linwood 2Nd Add
Directions
I-275 N to the Heiskell Ave exit to N. Central St Atlantic Ave
Standard status
Active
APN
081GA026
Size
1,632 SF
Taxes and HOA fees
Tax Annual Amount
2301
Utilities
Heating system
Central, Natural Gas, Space Heater
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1940
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Asphalt
Listing Agency:
United Real Estate Solutions
(865) 444-2400
Listed By:
Giang Nguyen
(865) 621-2040
Added: May 13
Changed: Oct 8
Last Checked: Oct 24 at 5:06AM
MLS# 1340586
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.
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Investment Insights
Based on property information with market context.
This 1,632-square-foot duplex, built in 1940, contains two separate residential units. The larger unit offers two bedrooms and one bathroom and is currently leased through Section 8, while the second unit includes one bedroom and one bathroom and is vacant. The existing layout supports either continued rental operations or an owner-occupancy arrangement with a separate unit for rental use.
Exterior construction is brick, with vinyl flooring inside. Heating includes central heat, a space heater, and natural gas service; cooling is provided by central air and window units. Parking is available on the street. The property is located at 117 Atlantic Ave in Knoxville, Tennessee 37917.
Exterior construction is brick, with vinyl flooring inside. Heating includes central heat, a space heater, and natural gas service; cooling is provided by central air and window units. Parking is available on the street. The property is located at 117 Atlantic Ave in Knoxville, Tennessee 37917.
Key Highlights
- Two separate residential units within a 1,632‑square‑foot duplex
- One 2‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit
- Larger unit currently leased through Section 8
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
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
NOI $15,916 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$209.2K
$183.1K – $244.1K
NOI $14,646 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$404.2K
$353.7K – $471.6K
NOI $28,295 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide flexibility for owner-occupancy or continued rental use.
Where is this duplex located?
The property is located at 117 Atlantic Ave 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 separate residential units within a 1,632‑square‑foot duplex; One 2‑bedroom, 1‑bath unit and one 1‑bedroom, 1‑bath unit; Larger unit currently leased through Section 8
