Two-Home Short-Term Rental
For Sale
$499,900
1422 Tipton Station Rd, Knoxville, TN 37920
MULTI_FAMILY - Knoxville, TN
Property Size1,859 SF
Lot Size2.80 Acres
Price / SF$268.91
Days on Market122
Property Features for 1422 Tipton Station Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Patio, Porch
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Elementary school
Bonny Kate
Middle school
South Doyle
High school
South Doyle
Directions
US 441 to W Dick Ford Ln R on Tipton Station
Subdivision
Knox County - 1
Standard status
Active
APN
137 069
Size
1,859 SF
Lot size
2.80 Acres
Taxes and HOA fees
Tax Annual Amount
1010
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
original hardwood floors
wood-burning fireplace
custom outdoor fireplace
seating area
Building Details
Year built
1940
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Vinyl Siding, Frame
Roof type
Metal, Shingle
Listing Agency:
Realty Executives Associates · Realty Executives International
(865) 688-3232
Listed By:
Trudi M. Johnson
(865) 898-0785
Added: Apr 17
Changed: Aug 1
Last Checked: Aug 16 at 10:06AM
MLS# 1337277
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.
Investment Insights
Based on property information with market context.
Two-home short-term rental property on a private 2.8-acre setting at 1422 Tipton Station Rd in Knoxville (TN 37920). The main home offers 3 bedrooms and 2 full baths with an open living, dining, and kitchen layout. Interior highlights include original hardwood floors and a cozy wood-burning fireplace. The main level includes 691 sq. ft., with an additional 416 sq. ft. upstairs.
An adjacent guest home provides an additional 2 bedrooms and 1 full bath in 815 sq. ft., supporting extended family living, long-term tenants, or separate hosting use. The property includes a custom outdoor fireplace and seating area for entertaining.
The home is heated with electric (heating) and central heating, with central air conditioning. Amenities include a dishwasher, dryer, microwave, range, refrigerator, and washer. Off-street parking is available. Construction materials include vinyl siding and frame, and the roof is metal and shingle. Built in 1940, the property also features tile and hardwood flooring, plus porch and patio space.
An adjacent guest home provides an additional 2 bedrooms and 1 full bath in 815 sq. ft., supporting extended family living, long-term tenants, or separate hosting use. The property includes a custom outdoor fireplace and seating area for entertaining.
The home is heated with electric (heating) and central heating, with central air conditioning. Amenities include a dishwasher, dryer, microwave, range, refrigerator, and washer. Off-street parking is available. Construction materials include vinyl siding and frame, and the roof is metal and shingle. Built in 1940, the property also features tile and hardwood flooring, plus porch and patio space.
Key Highlights
- 2.8‑acre private setting with two separate homes
- Main home: 3 bedrooms, 2 full baths; 691 sq. ft. main level and 416 sq. ft. upstairs
- Guest home: 2 bedrooms, 1 full bath; 815 sq. ft.
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
$18,130
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
3.63%
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%
$362,600
$362.6K
Cap Rate 7%
$259,000
$259.0K
Cap Rate 9%
$201,444
$201.4K
Market Conditions
NOI Build-Up for 1,859 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
$27.9K $15.00/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$25.9K $13.93/SF
− OpEx
−$7.8K −$4.18/SF
NOI
$18.1K $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 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%
$362,600
Cap Rate 7%
$259,000
Cap Rate 9%
$201,444
Alternative Uses
Best Use
Multifamily LT 5
$259.0K
$226.6K – $302.2K
NOI $18,130 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$238.3K
$208.5K – $278.1K
NOI $16,683 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$460.4K
$402.9K – $537.2K
NOI $32,231 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
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
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?
Short term rental property - Operating short-term rental with two homes, including a 3-bed/2-bath main house and a 2-bed/1-bath guest home.
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 $499,900.
What are key features of this property?
This property features: 2.8‑acre private setting with two separate homes; Main home: 3 bedrooms, 2 full baths; 691 sq. ft. main level and 416 sq. ft. upstairs; Guest home: 2 bedrooms, 1 full bath; 815 sq. ft.
