Duplex Property With Guest
For Sale
$475,000
1422 Tipton Station Rd, Knoxville, TN 37920
Multi-Family, Knoxville, TN
Property Size1,859 SF
Lot Size2.80 Acres
Price / SF$255.51
Days on Market168
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
Electric (Heating), Central
Cooling system
Central Air
Amenities
custom outdoor fireplace and seating area
Building Details
Year built
1940
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Vinyl Siding, Frame
Roof type
Shingle, Metal
Listing Agency:
Realty Executives Associates · Realty Executives International
(865) 688-3232
Listed By:
Trudi M. Johnson
(865) 898-0785
Added: Apr 17
Changed: Sep 12
Last Checked: Oct 1 at 6:06PM
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.
This duplex-classified property includes a primary residence and an adjacent guest home across 2.8 acres in South Knoxville. The main house provides 691 sq. ft. on the first level and 416 sq. ft. upstairs, with 3 bedrooms, 2 full baths, original hardwood floors, a wood-burning fireplace, and an open connection between the living, dining, and kitchen areas. The guest residence contains 815 sq. ft., 2 bedrooms, and 1 full bath.
The property is currently operated as a short-term rental and includes furniture-ready functional spaces, central heating and cooling, a range, refrigerator, dishwasher, microwave, washer, and dryer. Outdoor improvements include a custom fireplace, seating area, patio, porch, and off-street parking. Located at 1422 Tipton Station Rd in Knoxville, the property is near shopping, dining, and local amenities while retaining a private setting.
The property is currently operated as a short-term rental and includes furniture-ready functional spaces, central heating and cooling, a range, refrigerator, dishwasher, microwave, washer, and dryer. Outdoor improvements include a custom fireplace, seating area, patio, porch, and off-street parking. Located at 1422 Tipton Station Rd in Knoxville, the property is near shopping, dining, and local amenities while retaining a private setting.
Key Highlights
- Two residences situated on 2.8 acres
- Main home includes 3 bedrooms, 2 full baths, 691 sq. ft. on the main level, and 416 sq. ft. upstairs
- Adjacent guest home measures 815 sq. ft. with 2 bedrooms and 1 full bath
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
3.82%
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 3.82%
Second Best
Apartment 5plus
$238.3K
$208.5K – $278.1K
NOI $16,683 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$460.4K
$402.9K – $537.2K
NOI $32,231 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer flexible living arrangements, modern updates, hardwood floors, and a custom outdoor fireplace.
Where is this duplex located?
The property is located at 1422 Tipton Station Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two residences situated on 2.8 acres; Main home includes 3 bedrooms, 2 full baths, 691 sq. ft. on the main level, and 416 sq. ft. upstairs; Adjacent guest home measures 815 sq. ft. with 2 bedrooms and 1 full bath
