Renovated
For Sale
$525,000
347 Ritz View Drive, Blaine, TN 37709
Multi-Family, Blaine, TN
Property Size2,080 SF
Lot Size0.49 Acres
Price / SF$252.40
Days on Market55
Property Features for 347 Ritz View Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Off Street
Patio and Porch features
Patio
Appliances
Dishwasher, Disposal, Range, Refrigerator
Subdivision
J B Davis 2
Directions
From I-40 East in Knoxville, take Exit 392 for US-11W N/Rutledge Pike towards Blaine. Merge onto Rutledge Pike (US-11W N) and continue for approximately 8-10 miles through Blaine. Turn left onto Ritz View Rd; the destination at 347 Ritz View Rd will be on the right
Standard status
Active
APN
092G B 01400 000
Size
2,080 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Annual Amount
1773
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1997
Number of units
2
Flooring type
Carpet
Building materials
Brick, Block
Roof type
Asphalt
Listing Agency:
Keller Williams · Keller Williams Realty
(865) 977-0770
Listed By:
Greta Harless
(865) 705-0424
Added: Jul 8
Changed: Aug 24
Last Checked: Aug 31 at 2:06PM
MLS# 1347463
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 duplex contains 2,080 square feet of residential space on a 0.49-acre lot. The property was built in 1997 and includes two bathrooms, four bedrooms, central heating and cooling, electric heat, and off-street parking. Brick and block construction, an asphalt roof, carpeted flooring, and a patio complete the principal improvements.
Recent updates include new HVAC systems and appliances, including a dishwasher, disposal, range, and refrigerator. Located in Blaine, the property is approximately 20–25 minutes from downtown Knoxville, with shopping, restaurants, and entertainment described as accessible from the area.
Recent updates include new HVAC systems and appliances, including a dishwasher, disposal, range, and refrigerator. Located in Blaine, the property is approximately 20–25 minutes from downtown Knoxville, with shopping, restaurants, and entertainment described as accessible from the area.
Key Highlights
- 2,080‑square‑foot duplex on a 0.49‑acre lot
- Four bedrooms and two bathrooms
- New HVAC systems and appliances
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
$20,285
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
3.86%
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%
$405,700
$405.7K
Cap Rate 7%
$289,786
$289.8K
Cap Rate 9%
$225,389
$225.4K
Market Conditions
NOI Build-Up for 2,080 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
$31.2K $15.00/SF
− Vacancy
−$2.2K −$1.07/SF
EGI
$29.0K $13.93/SF
− OpEx
−$8.7K −$4.18/SF
NOI
$20.3K $9.75/SF
Area
Grainger County, 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%
$405,700
Cap Rate 7%
$289,786
Cap Rate 9%
$225,389
Alternative Uses
Best Use
Multifamily LT 5
$289.8K
$253.6K – $338.1K
NOI $20,285 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$266.7K
$233.3K – $311.1K
NOI $18,667 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$515.2K
$450.8K – $601.0K
NOI $36,062 @ 7.0% cap · market cap 6.87%
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
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 37709, TN
3,900
Population
1,613
Households
2.4
Avg Household Size
43
Median Age
18%
College-Educated
89%
High-School Grad
41.5 sq mi
ZIP Area
94
Density / Sq Mi
$61,509
Median Household Income
$41,604
Median Earnings
$911
Median Rent
$238,600
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?
Duplex - Two residential units feature updated HVAC, new appliances, and off-street parking on a spacious lot.
Where is this duplex located?
The property is located at 347 Ritz View Drive Blaine, TN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,080‑square‑foot duplex on a 0.49‑acre lot; Four bedrooms and two bathrooms; New HVAC systems and appliances
