Two-Unit Duplex with
For Sale
$416,500
Pending
215 + 217 Carr Road, Seymour, TN 37865
Residential, Seymour, TN
Property Size1,800 SF
Lot Size0.52 Acres
Days on Market56
Property Features for 215 + 217 Carr Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1, Dining Room, Basement, Bedroom 1
Parking features
Carport, Driveway
Window features
Drapes, Storm Window(s), Blinds
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Granite Counters, Great Room, High Speed Internet, Living/Dining Combo, Storage
Exterior features
Storage
Basement
Crawl Space, Storage Space
Appliances
Dishwasher, Disposal, Microwave, Range Hood, Refrigerator, Self Cleaning Oven
Subdivision
Seymour Hills Estates
Lot features
Back Yard, Cleared
Directions
From Seymour, take 411 South to Left on Carr Road. Duplex will be on right.
Standard status
Pending
APN
013I A 00200 000
Size
1,800 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
954
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
deck
storage shed
Building Details
Year built
2001
Floors in Building
1
Flooring type
Vinyl, Laminate
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Additional Structures
Storage, Second Garage
Listing Agency:
MR10 Realty
(865) 456-7222
Listed By:
Martha Riordan
(865) 556-1025
Added: Jul 1
Changed: Aug 25
Last Checked: Aug 25 at 7:06PM
MLS# 312581
Copyright © 2026 Great Smoky Mountains Association of 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 contains approximately 1,800 square feet across two residential units, with each side providing two bedrooms, one full bath, laundry connections, and a combined living and dining arrangement. The property may also function as a single-family residence. One unit includes granite kitchen countertops, while conveyed appliances include a stove, refrigerator, and dishwasher. Central heating and cooling serve the home, and a new deck adds outdoor living space.
Set on 0.52 acres at 215 + 217 Carr Road in Seymour, the property is located just off Hwy 411. Exterior storage includes a 25x12 shed and a separate 8x6 shed. The home was built in 2001 and has vinyl siding, a composition roof, public water, septic service, cable availability, a carport, and driveway parking. Residential zoning applies.
Set on 0.52 acres at 215 + 217 Carr Road in Seymour, the property is located just off Hwy 411. Exterior storage includes a 25x12 shed and a separate 8x6 shed. The home was built in 2001 and has vinyl siding, a composition roof, public water, septic service, cable availability, a carport, and driveway parking. Residential zoning applies.
Key Highlights
- Two units, each with 2 bedrooms, 1 full bath, and washer & dryer connections
- Approximately 1,800 total square feet on a 0.52‑acre lot
- 25x12 storage shed plus an additional 8x6 shed
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 - Each side offers two bedrooms, one full bath, laundry connections, and a practical residential layout.
Where is this duplex located?
The property is located at 215 + 217 Carr Road 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, 1 full bath, and washer & dryer connections; Approximately 1,800 total square feet on a 0.52‑acre lot; 25x12 storage shed plus an additional 8x6 shed
