Updated Three-Unit
For Sale
$400,000
2703 Bridalwood Drive, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size2,682 SF
Lot Size0.26 Acres
Price / SF$149.14
Days on Market196
Property Features for 2703 Bridalwood Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Range, Refrigerator
Subdivision
Washington Hgts Add
Elementary school
Belle Morris
Middle school
Whittle Springs
High school
Fulton
Directions
From Hall of Fame Dr, merge onto N Broadway. Turn right onto Washington Pike. Turn right onto Bridalwood Dr. Triplex on right.
Standard status
Active
APN
070IH024
Size
2,682 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
3864
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1960
Number of units
3
Flooring type
Carpet
Building materials
Vinyl Siding, Brick, Frame
Roof type
Shingle
Listing Agency:
Realty Executives Associates · Realty Executives International
(865) 693-3232
Listed By:
Brooke Miracle · License #364237
(865) 696-8089
Added: Mar 10
Changed: Sep 12
Last Checked: Sep 21 at 4:06AM
MLS# 1332103
Copyright © 2026 East Tennessee 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 2,682-square-foot triplex contains three rental units within a 1960-built property on 0.26 acres. The middle and upper residences each include 2 bedrooms and 1 bathroom, while the basement residence provides 1 bedroom and 1 bathroom. Recent interior work includes fresh paint and new carpet. The property is being sold in as-is condition.
Two units are currently rented, and the basement unit was previously rented. Interior features include range and refrigerator appliances, carpet flooring, electric heat, central heating, central air, and a shingle roof. Vinyl siding, brick, and frame are used in the construction.
Located in Knoxville’s North Hills area, the property offers access to downtown Knoxville, restaurants, shopping, major roadways, schools, and outdoor recreation throughout the area.
Two units are currently rented, and the basement unit was previously rented. Interior features include range and refrigerator appliances, carpet flooring, electric heat, central heating, central air, and a shingle roof. Vinyl siding, brick, and frame are used in the construction.
Located in Knoxville’s North Hills area, the property offers access to downtown Knoxville, restaurants, shopping, major roadways, schools, and outdoor recreation throughout the area.
Key Highlights
- Three rental units totaling 2,682 square feet
- 0.26‑acre property built in 1960
- Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
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
$26,156
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
6.54%
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%
$523,120
$523.1K
Cap Rate 7%
$373,657
$373.7K
Cap Rate 9%
$290,622
$290.6K
Market Conditions
NOI Build-Up for 2,682 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
$40.2K $15.00/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$37.4K $13.93/SF
− OpEx
−$11.2K −$4.18/SF
NOI
$26.2K $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%
$523,120
Cap Rate 7%
$373,657
Cap Rate 9%
$290,622
Alternative Uses
Best Use
Multifamily LT 5
$373.7K
$327.0K – $435.9K
NOI $26,156 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$343.8K
$300.9K – $401.2K
NOI $24,069 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$664.3K
$581.2K – $775.0K
NOI $46,499 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
272
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental units with refreshed interiors, central HVAC, and a North Hills location near downtown Knoxville.
Where is this triplex located?
The property is located at 2703 Bridalwood Drive Knoxville, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three rental units totaling 2,682 square feet; 0.26‑acre property built in 1960; Unit mix includes two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
