Short-Term Rental Property with Guest
For Sale
$455,000
Pending
1422 Tipton Station Rd, Knoxville, TN 37920
Two homes offer distinct living spaces, and the property currently operates as a short-term rental.
Property Size1,859 SF
Lot Size2.80 Acres
Days on Market193
Property Features for 1422 Tipton Station Rd
General Information
Standard status
Pending
Size
1,859 SF
Lot size
2.80 Acres
Property subtype
MULTI_FAMILY
Units
Unit Mix
3BR/2BA, 2BR/1BA
Multifamily Units
2
Additional Details
Currently Operating
Yes
Amenities
outdoor fireplace
seating area
Building Details
Building Size
1,859 SF
Year Built
1940
Buildings
2
Listing Agency:
Realty Executives Associates
Listed By:
Trudi M. Johnson
(865) 898-0785
Source:
Knoxvillefinehomes
Added: Apr 19
Changed: Oct 26
Last Checked: Oct 26 at 3:39PM
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 2.8-acre property in Knoxville includes two homes and is currently used as a short-term rental. The main house, built in 1940, has three bedrooms, two full bathrooms, original hardwood floors, a wood-burning fireplace, and an open living, dining, and kitchen area. Its layout includes 691 square feet on the main level and 416 square feet upstairs.
The adjacent guest house contains 815 square feet, with two bedrooms and one full bathroom. Outside, a fireplace and seating area provide additional space for gathering.
The adjacent guest house contains 815 square feet, with two bedrooms and one full bathroom. Outside, a fireplace and seating area provide additional space for gathering.
Key Highlights
- 2.8‑acre property with two homes
- Main house has 3 bedrooms and 2 full bathrooms
- Main house includes 691 sq. ft. on the main level and 416 sq. ft. upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,683
Cap Rate
3.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,660
$333.7K
Cap Rate 7%
$238,329
$238.3K
Cap Rate 9%
$185,367
$185.4K
Market Conditions
NOI Build-Up for 1,859 SF
Gross rent
$32.8K $17.64/SF
− Vacancy
−$2.5K −$1.32/SF
EGI
$30.3K $16.32/SF
− OpEx
−$13.6K −$7.34/SF
NOI
$16.7K $8.97/SF
Area
Knoxville, 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%
$333,660
Cap Rate 7%
$238,329
Cap Rate 9%
$185,367
Alternative Uses
Best Use
Apartment 5plus
$238.3K
$208.5K – $278.1K
NOI $16,683 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$460.4K
$402.9K – $537.2K
NOI $32,231 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
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Business Placement
Demographics for 37920, TN
41,210
Population
20,180
Households
2
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
72.3 sq mi
ZIP Area
570
Density / Sq Mi
$61,348
Median Household Income
$35,591
Median Earnings
$1,092
Median Rent
$231,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Two homes offer distinct living spaces, and the property currently operates as a short-term rental.
Where is this short term rental property located?
The property is located at 1422 Tipton Station Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 2.8‑acre property with two homes; Main house has 3 bedrooms and 2 full bathrooms; Main house includes 691 sq. ft. on the main level and 416 sq. ft. upstairs
