Updated Duplex with
For Sale
$250,000
401 Clifton Rd, Knoxville, TN 37921
Multi-Family, Knoxville, TN
Property Size1,960 SF
Lot Size0.29 Acres
Price / SF$127.55
Days on Market221
Property Features for 401 Clifton Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Parking features
Garage, Carport
Window features
Aluminum Frames
Appliances
Range, Self Cleaning Oven
Subdivision
Country Sites Unit Pt 7
Elementary school
West Haven
Middle school
Bearden
High school
West
Directions
From 640 at Western Ave exit, turn toward downtown. Right on Clifton. House on Right. No sign on Property. DO NOT DISTURB TENANTS.
Standard status
Active
APN
093EJ002
Size
1,960 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
1187
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
1950
Number of units
2
Building materials
Fiber Cement, Block
Roof type
Shingle
Listing Agency:
Keller Williams · Keller Williams Realty
(865) 977-0770
Listed By:
Alan Cottrell · License #342935
(865) 977-0770
Added: Jan 22
Changed: Aug 19
Last Checked: Aug 31 at 3:06AM
MLS# 1327311
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 1,960-square-foot duplex, built in 1950, contains two independent residences: one with two bedrooms and the other with one bedroom. The property has received multiple updates, including refreshed flooring and completed gutter repairs. Fiber-cement siding, a shingle roof, and a fully chain-link-enclosed yard contribute to the exterior configuration. Central air, electric heat, ceiling fans, and kitchen ranges are installed across the property.
Located at 401 Clifton Rd in Knoxville, the 0.29-acre property includes a detached one-car garage and a shared carport serving both units. Both residences are occupied by long-term, month-to-month tenants, providing an existing rental arrangement. The layout also includes two bathrooms, along with covered and enclosed parking or storage options.
Located at 401 Clifton Rd in Knoxville, the 0.29-acre property includes a detached one-car garage and a shared carport serving both units. Both residences are occupied by long-term, month-to-month tenants, providing an existing rental arrangement. The layout also includes two bathrooms, along with covered and enclosed parking or storage options.
Key Highlights
- 1,960 SF duplex on a 0.29‑acre lot
- Two‑bedroom unit paired with a one‑bedroom unit
- Built in 1950 with updated flooring and completed gutter repairs
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
$19,115
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
7.65%
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%
$382,300
$382.3K
Cap Rate 7%
$273,071
$273.1K
Cap Rate 9%
$212,389
$212.4K
Market Conditions
NOI Build-Up for 1,960 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
$29.4K $15.00/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$27.3K $13.93/SF
− OpEx
−$8.2K −$4.18/SF
NOI
$19.1K $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%
$382,300
Cap Rate 7%
$273,071
Cap Rate 9%
$212,389
Alternative Uses
Best Use
Multifamily LT 5
$273.1K
$238.9K – $318.6K
NOI $19,115 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.2K
NOI $17,590 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 13.59%
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
315
Businesses Nearby
Explore this area
Business Placement
Demographics for 37921, TN
28,903
Population
12,969
Households
2.2
Avg Household Size
35
Median Age
27%
College-Educated
87%
High-School Grad
15.9 sq mi
ZIP Area
1,818
Density / Sq Mi
$57,813
Median Household Income
$37,518
Median Earnings
$1,147
Median Rent
$204,300
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 separately configured units include a two-bedroom side and a one-bedroom side.
Where is this duplex located?
The property is located at 401 Clifton Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,960 SF duplex on a 0.29‑acre lot; Two‑bedroom unit paired with a one‑bedroom unit; Built in 1950 with updated flooring and completed gutter repairs
