Renovated Two-Unit
416 E Churchwell Ave 1 & 2, Knoxville, TN 37917
For Sale
$424,000
Separate HVAC systems and meters serve the distinct residences, which can also be configured as one home.
Property Size1,900 SF
Price / SF$223.16
Days on Market96
Property Features for 416 E Churchwell Ave 1 & 2
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Van Zutphen Realty
Listed By:
Phoenix Van Zutphen
Source:
Knoxvillefinehomes
Added: Aug 4
Changed: Nov 7
Last Checked: Nov 7 at 5:06PM
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 Van Zutphen Realty
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Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex, built in 1940, contains a three-bedroom residence and a separate one-bedroom apartment with its own kitchen, bathroom, laundry, and entrances. The units have separately metered utilities and individual HVAC systems; the larger residence also has two mini-split systems serving its upper floor. Renovations include kitchens, bathrooms, flooring, windows, electrical, plumbing, ductwork, and siding. Laundry is provided in both units, and the unfinished basement offers additional space.
Exterior features include a front porch, a rear parking pad for three vehicles, and a backyard shed. The property is near Three Rivers Market, the Old City, Lincoln Memorial University, and the University of Tennessee. Interior hallways can be left open to connect the residences as a single-family home.
Exterior features include a front porch, a rear parking pad for three vehicles, and a backyard shed. The property is near Three Rivers Market, the Old City, Lincoln Memorial University, and the University of Tennessee. Interior hallways can be left open to connect the residences as a single-family home.
Key Highlights
- Two residences: one with 3 bedrooms and one with 1 bedroom
- 1,900 square feet; built in 1940
- Separate meters and HVAC systems, plus two mini‑splits serving the larger unit’s upper floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,530
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,600
$370.6K
Cap Rate 7%
$264,714
$264.7K
Cap Rate 9%
$205,889
$205.9K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$28.5K $15.00/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$26.5K $13.93/SF
− OpEx
−$7.9K −$4.18/SF
NOI
$18.5K $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 Rate 5%
$370,600
Cap Rate 7%
$264,714
Cap Rate 9%
$205,889
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.6K – $308.8K
NOI $18,530 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$243.6K
$213.1K – $284.2K
NOI $17,051 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$470.6K
$411.8K – $549.0K
NOI $32,941 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
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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
$189,100
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Knoxville, TN
Properties on Market for Duplexes in Knoxville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate HVAC systems and meters serve the distinct residences, which can also be configured as one home.
Where is this duplex located?
The property is located at 416 E Churchwell Ave 1 & 2 Knoxville, TN.
What is the asking price?
The asking price for this property is $424,000.
What are key features of this property?
This property features: Two residences: one with 3 bedrooms and one with 1 bedroom; 1,900 square feet; built in 1940; Separate meters and HVAC systems, plus two mini‑splits serving the larger unit’s upper floor
