Updated 2-Unit
For Sale
$359,000
380 West Outer Drive, Oak Ridge, TN 37830
Separate utility services and a fenced backyard support practical operation and outdoor use.
Property Size2,119 SF
Price / SF$169.42
Days on Market424
Property Features for 380 West Outer Drive
General Information
Standard status
Active
Size
2,119 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,480
Amenities
fenced backyard
on-site parking
Central Cooling, Zoned
Yes
Hardwood, Other
True
Central, Natural Gas, Electric
Dishwasher, Range, Self Cleaning Oven
Shed
Aluminum Siding, Block, Frame
Building Details
Year Built
1943
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
Source:
Compass
Added: Jul 4, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:10AM
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 Homecoin.com
Investment Insights
Based on property information with market context.
This 2-unit duplex contains 2,119 square feet and was built in 1943. Recent improvements include a new roof, updated interiors, butcher block countertops, stainless steel appliances, and hardwood flooring throughout the rooms. Each unit has separate utilities, while central cooling with zoning and central, natural gas, and electric systems support the property’s operation. On-site parking, a low-maintenance exterior, and a shed add practical features.
The property includes a large fenced backyard suited to pets or outdoor entertaining. Shopping, dining, schools, and major highways are within a short distance of 380 West Outer Drive in Oak Ridge, Tennessee. The duplex format and separate utility arrangement provide a clearly defined residential income property configuration.
The property includes a large fenced backyard suited to pets or outdoor entertaining. Shopping, dining, schools, and major highways are within a short distance of 380 West Outer Drive in Oak Ridge, Tennessee. The duplex format and separate utility arrangement provide a clearly defined residential income property configuration.
Key Highlights
- 2,119‑square‑foot duplex with 2 units
- Recent brand‑new roof
- Separate utilities for each 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
$20,665
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
5.76%
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%
$413,300
$413.3K
Cap Rate 7%
$295,214
$295.2K
Cap Rate 9%
$229,611
$229.6K
Market Conditions
NOI Build-Up for 2,119 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
$31.8K $15.00/SF
− Vacancy
−$2.3K −$1.07/SF
EGI
$29.5K $13.93/SF
− OpEx
−$8.9K −$4.18/SF
NOI
$20.7K $9.75/SF
Area
Anderson 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%
$413,300
Cap Rate 7%
$295,214
Cap Rate 9%
$229,611
Alternative Uses
Best Use
Multifamily LT 5
$295.2K
$258.3K – $344.4K
NOI $20,665 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$271.7K
$237.7K – $317.0K
NOI $19,017 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$524.8K
$459.2K – $612.3K
NOI $36,738 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 37830, TN
31,839
Population
15,110
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
84.8 sq mi
ZIP Area
375
Density / Sq Mi
$70,795
Median Household Income
$41,293
Median Earnings
$1,076
Median Rent
$234,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility services and a fenced backyard support practical operation and outdoor use.
Where is this duplex located?
The property is located at 380 West Outer Drive Oak Ridge, TN.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 2,119‑square‑foot duplex with 2 units; Recent brand‑new roof; Separate utilities for each unit
