Renovated Two-Unit
For Sale
$395,000
11171119 Village Ct, Cleveland, TN 37312
Both residences feature en suite bedrooms, updated kitchens, and open living areas.
Property Size2,035 SF
Price / SF$194.10
Days on Market43
Property Features for 11171119 Village Ct
General Information
Standard status
Active
Size
2,035 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
deck
shed
Building Details
Year Built
1999
Buildings
1
Listing Agency:
Epique Realty
(423) 381-7655
Listed By:
Susana Alsina · License #360572
Source:
Shearonsellsteam
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 8:43PM
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 Epique Realty
Investment Insights
Based on property information with market context.
This renovated duplex offers 2,035 square feet across two residential units, with each side arranged as a two-bedroom, two-bath residence. Every bedroom includes a private en suite bathroom, while the open living rooms provide flexible space for daily use or entertaining. Each kitchen is equipped with stainless steel appliances and granite countertops.
A newly constructed deck and shed provide additional outdoor and storage space. One unit is currently tenant occupied, and the property was built in 1999. The duplex is located at 11171-1119 Village Ct in Cleveland, Tennessee.
A newly constructed deck and shed provide additional outdoor and storage space. One unit is currently tenant occupied, and the property was built in 1999. The duplex is located at 11171-1119 Village Ct in Cleveland, Tennessee.
Key Highlights
- 2,035‑square‑foot duplex with two residential units
- Each unit has 2 bedrooms and 2 full bathrooms
- Private en suite bathroom accompanies every bedroom
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
$17,393
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
4.40%
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%
$347,860
$347.9K
Cap Rate 7%
$248,471
$248.5K
Cap Rate 9%
$193,256
$193.3K
Market Conditions
NOI Build-Up for 2,035 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
$26.4K $12.96/SF
− Vacancy
−$1.5K −$0.75/SF
EGI
$24.8K $12.21/SF
− OpEx
−$7.5K −$3.66/SF
NOI
$17.4K $8.55/SF
Area
Bradley County, TN
Vacancy
5.79%
Lease Rate
$12.96 /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%
$347,860
Cap Rate 7%
$248,471
Cap Rate 9%
$193,256
Alternative Uses
Best Use
Multifamily LT 5
$248.5K
$217.4K – $289.9K
NOI $17,393 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$216.2K
$189.2K – $252.2K
NOI $15,134 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$427.0K
$373.6K – $498.2K
NOI $29,890 @ 7.0% cap · market cap 7.57%
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
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature en suite bedrooms, updated kitchens, and open living areas.
Where is this duplex located?
The property is located at 11171119 Village Ct Cleveland, TN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,035‑square‑foot duplex with two residential units; Each unit has 2 bedrooms and 2 full bathrooms; Private en suite bathroom accompanies every bedroom
