Furnished Two-Unit
For Sale
$299,900
2635 Gaston Avenue, Knoxville, TN 37917
Separate entrances and flexible furnishings accommodate short-term or traditional residential rental arrangements.
Property Size1,528 SF
Price / SF$196.27
Days on Market222
Property Features for 2635 Gaston Avenue
General Information
Standard status
Active
Size
1,528 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,200
Amenities
washer and dryer connections
fully equipped kitchen
Central Cooling, Window Unit(s)
Yes
Laminate, Hardwood, Vinyl, Tile
True
Central, Baseboard, Electric
Dishwasher, Range, Refrigerator
Vinyl, Block
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Wallace
Listed By:
Jessie Cogdill · License #289710
(865) 661-2848
Source:
Compass
Added: Mar 8
Changed: Oct 11
Last Checked: Oct 15 at 2:02AM
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 Wallace
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Investment Insights
Based on property information with market context.
This 1,528-square-foot duplex in Knoxville contains two independently entered residences, each with 2 bedrooms and 1 bathroom. Unit A includes washer and dryer connections, while Unit B is furnished for short-term rental use and includes a living room, equipped kitchen, dining area, and flat-screen TV. Interior finishes include laminate, hardwood, vinyl, and tile flooring, with central cooling, baseboard, and electric heating components.
Property improvements include a roof installed in 2023, an updated kitchen and new HVAC system in one unit, and a replacement main sewer line. The building was constructed in 1940 and has vinyl and block exterior materials. Located at 2635 Gaston Avenue in Knoxville, the property offers a two-unit residential configuration with the flexibility described for both short-term and long-term tenancy.
Property improvements include a roof installed in 2023, an updated kitchen and new HVAC system in one unit, and a replacement main sewer line. The building was constructed in 1940 and has vinyl and block exterior materials. Located at 2635 Gaston Avenue in Knoxville, the property offers a two-unit residential configuration with the flexibility described for both short-term and long-term tenancy.
Key Highlights
- Two‑unit duplex with 1,528 SF of total property size
- Each unit includes 2 bedrooms, 1 bathroom, and a separate entrance
- Unit B is fully furnished for short‑term rental use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,902
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,040
$298.0K
Cap Rate 7%
$212,886
$212.9K
Cap Rate 9%
$165,578
$165.6K
Market Conditions
NOI Build-Up for 1,528 SF
Gross rent
$22.9K $15.00/SF
− Vacancy
−$1.6K −$1.07/SF
EGI
$21.3K $13.93/SF
− OpEx
−$6.4K −$4.18/SF
NOI
$14.9K $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 Rate 5%
$298,040
Cap Rate 7%
$212,886
Cap Rate 9%
$165,578
Alternative Uses
Best Use
Multifamily LT 5
$212.9K
$186.3K – $248.4K
NOI $14,902 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$195.9K
$171.4K – $228.6K
NOI $13,713 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$378.5K
$331.2K – $441.5K
NOI $26,492 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances and flexible furnishings accommodate short-term or traditional residential rental arrangements.
Where is this duplex located?
The property is located at 2635 Gaston Avenue Knoxville, TN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,528 SF of total property size; Each unit includes 2 bedrooms, 1 bathroom, and a separate entrance; Unit B is fully furnished for short‑term rental use
