18-Bed Student Housing Apartment
New
For Sale
$700,000
2215 S Roane St, Harriman, TN 37748
Shared recreation amenities and convenient access to Roane State Community College support student-oriented occupancy.
Days on Market2
Property Features for 2215 S Roane St
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Amenities
pool table
ping-pong table
big-screen TV
sectional couch
Building Details
Building Size
4,161 SF
Year Built
1990
Listing Agency:
SVN I Wood Properties
(865) 337-3438
Listed By:
Ford Collier · License #TN #373873
(865) 337-3438
Source:
Svnwood
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 11:08AM
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 SVN I Wood Properties
Investment Insights
Based on property information with market context.
This apartment building is configured for student housing with 11 bedrooms, 18 total beds, 8 full bathrooms, and 3 half bathrooms. The layout includes a large shared common area furnished with a pool table, ping-pong table, big-screen TV, and spacious sectional couch. Built in 1990, the property provides a high-capacity residential configuration with substantial shared amenity space.
Located at 2215 S Roane St in Harriman, Tennessee, the property is approximately 3 minutes from Roane State Community College and Interstate 40. The nearby campus connection and interstate access provide convenient routes for residents traveling to school and throughout the surrounding area.
Located at 2215 S Roane St in Harriman, Tennessee, the property is approximately 3 minutes from Roane State Community College and Interstate 40. The nearby campus connection and interstate access provide convenient routes for residents traveling to school and throughout the surrounding area.
Key Highlights
- 18‑bed student housing property with 11 bedrooms
- 8 full bathrooms and 3 half bathrooms
- Large shared common area with pool table, ping‑pong table, big‑screen TV, and sectional couch
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.4k | $17.64 |
| − Vacancy | −$5.5k | −$1.32 |
| EGI | $67.9k | $16.32 |
| − OpEx | −$30.6k | −$7.34 |
| NOI | $37.3k | $8.97 |
4,161 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$533.5K
$466.8K – $622.4K
NOI $37,342 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$901.8K – $1.20M
NOI $72,142 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
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?
Apartment building - Shared recreation amenities and convenient access to Roane State Community College support student-oriented occupancy.
Where is this apartment building located?
The property is located at 2215 S Roane St Harriman, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 18‑bed student housing property with 11 bedrooms; 8 full bathrooms and 3 half bathrooms; Large shared common area with pool table, ping‑pong table, big‑screen TV, and sectional couch
