Two-Unit Duplex with
For Sale
$416,500
215 & 217 Carr Rd, Seymour, TN 37865
Flexible duplex configuration with separate living spaces, updated kitchen finishes, and outdoor storage on a spacious residential lot.
Property Size1,800 SF
Lot Size0.50 Acres
Price / SF$231.39
Days on Market85
Property Features for 215 & 217 Carr Rd
General Information
Standard status
Active
Size
1,800 SF
Lot size
0.50 Acres
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$953
Amenities
washer & dryer connections
granite countertops
deck
storage shed
Building Details
Building Size
1,800 SF
Year Built
2001
Units
2
Listing Agency:
MR10 Realty
(865) 556-1025
Listed By:
Martha Riordan
(865) 556-1025
Source:
Rockytophomeinfo
Added: May 28
Changed: Aug 18
Last Checked: Aug 19 at 2:44PM
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 MR10 Realty
Investment Insights
Based on property information with market context.
Built in 2001, this duplex offers approximately 1,800 total square feet across two units, each with two bedrooms, one full bathroom, washer and dryer connections, and a practical living layout. The property can also function as a single-family residence. One unit includes granite countertops, and the conveyed appliances include a stove, refrigerator, and dishwasher.
Outdoor improvements include a new deck, a 25x12 storage shed, and an additional 8x6 shed. The property occupies ½ acre just off Hwy 411 in Seymour, with access to Maryville, Sevierville, Knoxville, Pigeon Forge, Great Smoky Mountains National Park, and McGhee Tyson Airport.
Outdoor improvements include a new deck, a 25x12 storage shed, and an additional 8x6 shed. The property occupies ½ acre just off Hwy 411 in Seymour, with access to Maryville, Sevierville, Knoxville, Pigeon Forge, Great Smoky Mountains National Park, and McGhee Tyson Airport.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- Approximately 1,800 total square feet on ½ acre
- Built in 2001; property can also be used as a single‑family residence
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
$13,365
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
3.21%
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%
$267,300
$267.3K
Cap Rate 7%
$190,929
$190.9K
Cap Rate 9%
$148,500
$148.5K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$2.7K −$1.50/SF
EGI
$24.3K $13.50/SF
− OpEx
−$10.9K −$6.08/SF
NOI
$13.4K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$267,300
Cap Rate 7%
$190,929
Cap Rate 9%
$148,500
Alternative Uses
Best Use
Apartment 5plus
$190.9K
$167.1K – $222.8K
NOI $13,365 @ 7.0% cap · market cap 3.21%
Second Best
Multifamily LT 5
$140.3K
$122.8K – $163.7K
NOI $9,822 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$759.1K
$664.2K – $885.6K
NOI $53,136 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 37865, TN
22,567
Population
10,329
Households
2.2
Avg Household Size
44
Median Age
23%
College-Educated
93%
High-School Grad
73.3 sq mi
ZIP Area
308
Density / Sq Mi
$88,410
Median Household Income
$43,269
Median Earnings
$1,351
Median Rent
$276,900
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 - Flexible duplex configuration with separate living spaces, updated kitchen finishes, and outdoor storage on a spacious residential lot.
Where is this duplex located?
The property is located at 215 & 217 Carr Rd Seymour, TN.
What is the asking price?
The asking price for this property is $416,500.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; Approximately 1,800 total square feet on ½ acre; Built in 2001; property can also be used as a single‑family residence
