Updated Duplex with
For Sale
$300,000
2430 Parkview Ave, Knoxville, TN 37917
Two-unit property with one leased residence and a vacant upper apartment.
Property Size2,231 SF
Price / SF$134.47
Days on Market44
Property Features for 2430 Parkview Ave
General Information
Standard status
Active
Size
2,231 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Year Renovated
2025
Buildings
1
Listing Agency:
eXp Realty
(904) 238-3304
Listed By:
Justin Myers 8657300773 · License #3215492
Source:
Homesmiddletn
Added: Jul 19
Changed: Aug 30
Last Checked: Aug 30 at 2:03PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 1920 duplex contains a 1,666-square-foot lower residence with two bedrooms and two bathrooms, plus a 706-square-foot upper unit with one bedroom and one bathroom. The lower unit features hardwood flooring, 12-foot ceilings, and a fireplace, while the upper apartment is vacant. The property received substantial improvements in 2024, including a new roof, drywall, kitchen work downstairs, refinished hardwood floors, interior and exterior paint, updated toilets, and bathroom improvements. A downstairs water heater and new HVAC system with ductwork were added in 2025.
The property is approximately five minutes from Downtown Knoxville and less than 10 minutes from the University of Tennessee. Knoxville Botanical Garden, breweries, dining, shopping, Old City, and Market Square are also nearby.
The property is approximately five minutes from Downtown Knoxville and less than 10 minutes from the University of Tennessee. Knoxville Botanical Garden, breweries, dining, shopping, Old City, and Market Square are also nearby.
Key Highlights
- 1,666‑square‑foot lower unit with 2 bedrooms and 2 bathrooms
- 706‑square‑foot upper unit with 1 bedroom and 1 bathroom
- Lower residence includes hardwood floors, 12‑foot ceilings, and a fireplace
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
$21,758
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
7.25%
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%
$435,160
$435.2K
Cap Rate 7%
$310,829
$310.8K
Cap Rate 9%
$241,756
$241.8K
Market Conditions
NOI Build-Up for 2,231 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
$33.5K $15.00/SF
− Vacancy
−$2.4K −$1.07/SF
EGI
$31.1K $13.93/SF
− OpEx
−$9.3K −$4.18/SF
NOI
$21.8K $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%
$435,160
Cap Rate 7%
$310,829
Cap Rate 9%
$241,756
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$272.0K – $362.6K
NOI $21,758 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$286.0K
$250.3K – $333.7K
NOI $20,022 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$552.6K
$483.5K – $644.7K
NOI $38,680 @ 7.0% cap · market cap 12.89%
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
526
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-unit property with one leased residence and a vacant upper apartment.
Where is this duplex located?
The property is located at 2430 Parkview Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,666‑square‑foot lower unit with 2 bedrooms and 2 bathrooms; 706‑square‑foot upper unit with 1 bedroom and 1 bathroom; Lower residence includes hardwood floors, 12‑foot ceilings, and a fireplace
