Renovated
New
For Sale
$479,900
205 Spruce St, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size2,270 SF
Lot Size0.11 Acres
Price / SF$211.41
Days on Market3
Property Features for 205 Spruce St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bedroom 6, Bedroom 3, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 4
Parking features
On Street
Patio and Porch features
Porch
Interior features
Walk-In Closet(s)
Exterior features
Windows - Vinyl
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Cold Springs Pt 31 Pt 32
Directions
From I-40E heading North Take Exit 389. Turn Right onto Hall Of Fame Dr. In 0.5 miles Turn Left onto E Magnolia Ave. In 1.2 Miles Turn Right onto Spruce St. In 0.1 Miles the Duplex will be on your Right. No sign on property. Please don't disturb residents
Standard status
Active
APN
082OF008
Size
2,270 SF
Lot size
0.11 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
722
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1910
Number of units
2
Building materials
Vinyl Siding, Frame
Roof type
Composition
Buildings
1
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License #263596
(865) 444-3241
Added: Oct 31
Last Checked: Nov 2 at 5:06AM
MLS# 1360730
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.
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Investment Insights
Based on property information with market context.
This 2,270-square-foot duplex contains two residences, each with 3 bedrooms and 2 bathrooms. Renovations completed in 2026 included a new roof, HVAC systems, electrical updates, water heaters, appliances, and LVP flooring. The property was built in 1910 and sits on a 0.11-acre lot. Additional features include vinyl windows, a porch, central heating and air conditioning, and on-street parking.
One residence is leased, while the other is available for occupancy or leasing. Tenants pay all utilities. The property is about 5 minutes from Covenant Health Park and 8 minutes from downtown Knoxville, including Market Square and the Old City.
One residence is leased, while the other is available for occupancy or leasing. Tenants pay all utilities. The property is about 5 minutes from Covenant Health Park and 8 minutes from downtown Knoxville, including Market Square and the Old City.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- 2,270 square feet on a 0.11‑acre lot
- 2026 renovations included roof, HVAC, electrical, water heaters, appliances, and LVP flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,138
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,760
$442.8K
Cap Rate 7%
$316,257
$316.3K
Cap Rate 9%
$245,978
$246.0K
Market Conditions
NOI Build-Up for 2,270 SF
Gross rent
$34.1K $15.00/SF
− Vacancy
−$2.4K −$1.07/SF
EGI
$31.6K $13.93/SF
− OpEx
−$9.5K −$4.18/SF
NOI
$22.1K $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 Rate 5%
$442,760
Cap Rate 7%
$316,257
Cap Rate 9%
$245,978
Alternative Uses
Best Use
Multifamily LT 5
$316.3K
$276.7K – $369.0K
NOI $22,138 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$291.0K
$254.7K – $339.5K
NOI $20,372 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$562.2K
$492.0K – $655.9K
NOI $39,356 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
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Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers three bedrooms and two bathrooms, with updated interiors and separate living spaces.
Where is this duplex located?
The property is located at 205 Spruce St Knoxville, TN.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; 2,270 square feet on a 0.11‑acre lot; 2026 renovations included roof, HVAC, electrical, water heaters, appliances, and LVP flooring
