Updated Duplex with New
1230 April Drive, Knoxville, TN 37919
For Sale
$499,900
One unit is leased through June 30, 2027, while the other is vacant.
Property Size1,895 SF
Price / SF$263.80
Days on Market20
Property Features for 1230 April Drive
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
hardwood and tile floors
open floor plan
new decks
circular driveway
Building Details
Buildings
Listing Agency:
Realty Executives Associates
(865) 588-3232
Listed By:
Mary King
(865) 693-1111
Source:
Exprealty
Added: Oct 26
Changed: Nov 13
Last Checked: Nov 12 at 8:40AM
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 Realty Executives Associates
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Investment Insights
Based on property information with market context.
This duplex contains 1,895 square feet across two units with open floor plans and hardwood and tile flooring. Both units have new decks. Unit 1 was remodeled in 2025 and received new HVAC that year; it has a dishwasher. Unit 2 was remodeled in 2020 and had HVAC replaced in 2023, and it does not have a dishwasher. A fenced area for a dog serves Unit 2.
Unit 1 is leased through June 30, 2027, and Unit 2 is vacant. The property is in Knoxville’s Forest Brook area, between Bearden and Rocky Hill, near Lakeshore Park and West Town Mall. A wide circular driveway provides parking.
Unit 1 is leased through June 30, 2027, and Unit 2 is vacant. The property is in Knoxville’s Forest Brook area, between Bearden and Rocky Hill, near Lakeshore Park and West Town Mall. A wide circular driveway provides parking.
Key Highlights
- 1,895 square feet in a two‑unit property
- Unit 1 remodeled in 2025; HVAC installed in 2025
- Unit 2 remodeled in 2020; HVAC installed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,481
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,620
$369.6K
Cap Rate 7%
$264,014
$264.0K
Cap Rate 9%
$205,344
$205.3K
Market Conditions
NOI Build-Up for 1,895 SF
Gross rent
$28.4K $15.00/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$26.4K $13.93/SF
− OpEx
−$7.9K −$4.18/SF
NOI
$18.5K $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%
$369,620
Cap Rate 7%
$264,014
Cap Rate 9%
$205,344
Alternative Uses
Best Use
Multifamily LT 5
$264.0K
$231.0K – $308.0K
NOI $18,481 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$242.9K
$212.6K – $283.4K
NOI $17,006 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$469.4K
$410.7K – $547.6K
NOI $32,855 @ 7.0% cap · market cap 6.57%
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
220
Businesses Nearby
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Business Placement
Demographics for 37919, TN
30,822
Population
15,499
Households
2
Avg Household Size
38
Median Age
58%
College-Educated
95%
High-School Grad
19.1 sq mi
ZIP Area
1,614
Density / Sq Mi
$71,863
Median Household Income
$44,968
Median Earnings
$1,247
Median Rent
$453,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Knoxville, TN
Properties on Market for Duplexes in Knoxville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One unit is leased through June 30, 2027, while the other is vacant.
Where is this duplex located?
The property is located at 1230 April Drive Knoxville, TN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,895 square feet in a two‑unit property; Unit 1 remodeled in 2025; HVAC installed in 2025; Unit 2 remodeled in 2020; HVAC installed in 2023
