Updated Two-Unit
For Sale
$384,000
308 East Scott Avenue, Knoxville, TN 37917
Two residences feature central cooling, hardwood details, and separate one-bedroom, one-bath layouts.
Property Size1,425 SF
Price / SF$269.47
Days on Market257
Property Features for 308 East Scott Avenue
General Information
Standard status
Active
Size
1,425 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,571
Amenities
Central Cooling
Yes
Hardwood
True
Central
Frame
Building Details
Year Built
1899
Listing Agency:
PWA Properties
(865) 210-0228
Listed By:
Kevin G. Tipton · License #275491
Source:
Compass
Added: Dec 17, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:15PM
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 PWA Properties
Investment Insights
Based on property information with market context.
This duplex contains 1,425 square feet arranged as two one-bedroom, one-bath residences. Both units have been updated and maintained, with central cooling and hardwood features noted among the interior improvements. The frame property dates to 1899 and retains a residential configuration suited to an income property strategy.
Located at 308 East Scott Avenue in Knoxville, the property sits minutes from Downtown Knoxville and is surrounded by historic homes. Existing tenants are described as long term, and they pay all utilities.
Located at 308 East Scott Avenue in Knoxville, the property sits minutes from Downtown Knoxville and is surrounded by historic homes. Existing tenants are described as long term, and they pay all utilities.
Key Highlights
- Two‑unit duplex with two 1‑bedroom, 1‑bath residences
- 1,425 square feet of total property size
- Both units updated and maintained
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
$13,897
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
3.62%
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%
$277,940
$277.9K
Cap Rate 7%
$198,529
$198.5K
Cap Rate 9%
$154,411
$154.4K
Market Conditions
NOI Build-Up for 1,425 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
$21.4K $15.00/SF
− Vacancy
−$1.5K −$1.07/SF
EGI
$19.9K $13.93/SF
− OpEx
−$6.0K −$4.18/SF
NOI
$13.9K $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 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%
$277,940
Cap Rate 7%
$198,529
Cap Rate 9%
$154,411
Alternative Uses
Best Use
Multifamily LT 5
$198.5K
$173.7K – $231.6K
NOI $13,897 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$182.7K
$159.9K – $213.1K
NOI $12,788 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$352.9K
$308.8K – $411.8K
NOI $24,706 @ 7.0% cap · market cap 6.43%
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
964
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 residences feature central cooling, hardwood details, and separate one-bedroom, one-bath layouts.
Where is this duplex located?
The property is located at 308 East Scott Avenue Knoxville, TN.
What is the asking price?
The asking price for this property is $384,000.
What are key features of this property?
This property features: Two‑unit duplex with two 1‑bedroom, 1‑bath residences; 1,425 square feet of total property size; Both units updated and maintained
