Brick Duplex with
For Sale
$274,900
2114 Thalia Street, Knoxville, TN 37917
Two residential units offer private garages, hardwood flooring, and an unfinished basement.
Property Size1,582 SF
Price / SF$173.77
Days on Market194
Property Features for 2114 Thalia Street
General Information
Standard status
Active
Size
1,582 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,837
Amenities
True
Yes
Hardwood, Tile
Range, Refrigerator
Brick
Building Details
Year Built
1930
Buildings
1
Construction
all-brick
Listing Agency:
Elite Realty
(865) 898-3377
Listed By:
Teagan Tilson
Source:
Compass
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 31 at 1:45AM
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 Elite Realty
Investment Insights
Based on property information with market context.
Built in 1930, this 1,582-square-foot all-brick duplex contains two residential units, each arranged with 1 bedroom and 1 bathroom. Both units feature original hardwood floors, while separate one-car garages provide dedicated parking. Additional off-street parking is also available.
The property includes an unfinished basement that can support storage needs or future expansion, subject to applicable requirements. A newer roof and HVAC systems are among the major updates. Located at 2114 Thalia Street in Knoxville, the duplex presents a classic configuration with existing improvements and room for further remodeling.
The property includes an unfinished basement that can support storage needs or future expansion, subject to applicable requirements. A newer roof and HVAC systems are among the major updates. Located at 2114 Thalia Street in Knoxville, the duplex presents a classic configuration with existing improvements and room for further remodeling.
Key Highlights
- 1,582‑square‑foot duplex built in 1930
- Each unit includes 1 bedroom and 1 bathroom
- All‑brick construction with original hardwood floors
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
$15,428
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
5.61%
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%
$308,560
$308.6K
Cap Rate 7%
$220,400
$220.4K
Cap Rate 9%
$171,422
$171.4K
Market Conditions
NOI Build-Up for 1,582 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
$23.7K $15.00/SF
− Vacancy
−$1.7K −$1.07/SF
EGI
$22.0K $13.93/SF
− OpEx
−$6.6K −$4.18/SF
NOI
$15.4K $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%
$308,560
Cap Rate 7%
$220,400
Cap Rate 9%
$171,422
Alternative Uses
Best Use
Multifamily LT 5
$220.4K
$192.9K – $257.1K
NOI $15,428 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$202.8K
$177.5K – $236.6K
NOI $14,197 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$391.8K
$342.9K – $457.1K
NOI $27,428 @ 7.0% cap · market cap 9.98%
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
767
Businesses Nearby
Explore this area
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
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 private garages, hardwood flooring, and an unfinished basement.
Where is this duplex located?
The property is located at 2114 Thalia Street Knoxville, TN.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1,582‑square‑foot duplex built in 1930; Each unit includes 1 bedroom and 1 bathroom; All‑brick construction with original hardwood floors
