2025 Two-Unit Duplex
For Sale
$619,000
1619 Francis Road, Knoxville, TN 37909
Two residential units offer en-suite bedrooms, walk-in closets, and modern kitchen finishes.
Property Size2,560 SF
Lot Size0.50 Acres
Price / SF$241.80
Days on Market138
Property Features for 1619 Francis Road
General Information
Standard status
Active
Size
2,560 SF
Lot size
0.50 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,406
Amenities
Central Cooling
Yes
Vinyl
True
Central, Electric
Dishwasher, Microwave, Refrigerator, Self Cleaning Oven
Windows - Vinyl
Vinyl, Frame
Building Details
Year Built
2025
Listing Agency:
Vision Properties Group, Inc.
(865) 297-8597
Listed By:
Tanya Price · License #280713
Source:
Compass
Added: Apr 16
Changed: Aug 31
Last Checked: Aug 31 at 12:33AM
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 Vision Properties Group, Inc.
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex contains two residential units within 2,560 square feet. Each unit includes three bedrooms with private en-suite bathrooms, large walk-in closets, a modern kitchen, generous storage, and a functional layout. Granite countertops, tiled backsplashes, LVP flooring, and Pella vinyl windows are featured throughout the units. Central cooling and an appliance package including a dishwasher, microwave, refrigerator, and self-cleaning oven are also provided.
The property occupies a 0.5-acre lot at 1619 Francis Road in Knoxville, with ample parking and outdoor space. West Town Mall and downtown are both described as minutes away. The combination of a recent construction date, two-unit configuration, private bedroom suites, and durable interior finishes supports both owner occupancy and residential leasing use.
The property occupies a 0.5-acre lot at 1619 Francis Road in Knoxville, with ample parking and outdoor space. West Town Mall and downtown are both described as minutes away. The combination of a recent construction date, two-unit configuration, private bedroom suites, and durable interior finishes supports both owner occupancy and residential leasing use.
Key Highlights
- Two‑unit duplex completed in 2025
- 2,560 square feet with two residential units
- Each unit has 3 bedrooms with private en‑suite bathrooms
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
$24,966
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
4.03%
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%
$499,320
$499.3K
Cap Rate 7%
$356,657
$356.7K
Cap Rate 9%
$277,400
$277.4K
Market Conditions
NOI Build-Up for 2,560 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
$38.4K $15.00/SF
− Vacancy
−$2.7K −$1.07/SF
EGI
$35.7K $13.93/SF
− OpEx
−$10.7K −$4.18/SF
NOI
$25.0K $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%
$499,320
Cap Rate 7%
$356,657
Cap Rate 9%
$277,400
Alternative Uses
Best Use
Multifamily LT 5
$356.7K
$312.1K – $416.1K
NOI $24,966 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$328.2K
$287.2K – $382.9K
NOI $22,974 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$634.1K
$554.8K – $739.7K
NOI $44,384 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
Explore this area
Business Placement
Demographics for 37909, TN
16,066
Population
8,076
Households
2
Avg Household Size
35
Median Age
45%
College-Educated
94%
High-School Grad
6.8 sq mi
ZIP Area
2,363
Density / Sq Mi
$61,365
Median Household Income
$36,974
Median Earnings
$1,156
Median Rent
$273,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer en-suite bedrooms, walk-in closets, and modern kitchen finishes.
Where is this duplex located?
The property is located at 1619 Francis Road Knoxville, TN.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2025; 2,560 square feet with two residential units; Each unit has 3 bedrooms with private en‑suite bathrooms
