Duplex with
For Sale
$565,000
4238 Dollys Drive, Sevierville, TN 37876
MULTI_FAMILY - Other - Sevierville, TN
Property Size2,644 SF
Lot Size0.42 Acres
Price / SF$213.69
Days on Market215
Property Features for 4238 Dollys Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
A-1
Bedrooms
4
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 4, Laundry Room, Basement, Bathroom 1, Bathroom 5, Bedroom 3, Bedroom 1, Dining Room, Bathroom 6, Bathroom 3, Bedroom 4
Parking features
Driveway, Carport
Window features
Double Pane Windows
Patio and Porch features
Porch, Deck
Interior features
Cathedral Ceiling(s), Ceiling Fan(s), Great Room, High Speed Internet, Kitchen/Dining Combo, Living/Dining Combo, Solid Surface Counters, Storage, Walk-In Closet(s)
Fireplace
1
Basement
Crawl Space
Appliances
Dishwasher, Dryer, Electric Cooktop, Electric Range, Microwave Range Hood Combo, Refrigerator, Self Cleaning Oven, Washer
Subdivision
Town Villas Condos
Lot features
Cul-De-Sac, Irregular Lot, Sloped, Views, Wooded, Country Setting
Elementary school
Catons Chapel Elementary
High school
GatlinburgPittman High
Directions
From Pigeon Forge: Turn onto Dollywood Ln, 6.1 mi. Turn right onto Birds Creek Rd, 0.4 mi. Turn left onto Catons Chapel Rd, 0.8 mi. Take a slight right turn onto Rogers Way, 0.1 mi. Turn right onto Rogers Way, 0.5 mi. The destination is on your right. Unit A is numbered #1, and Unit B is numbered #2, respectively.
Standard status
Active
APN
085L A 029.01
Size
2,644 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2274
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump, Electric
Water source
Well
Amenities
fireplaces
patios
decks
Building Details
Year built
1984
Floors in Building
2
Flooring type
Vinyl
Building materials
Frame, Stone, Wood Siding
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Century 21 Legacy GP
(865) 436-7121
Listed By:
The Jason White Team
(877) 678-2121
Added: Jan 9
Changed: Aug 3
Last Checked: Aug 12 at 9:06AM
MLS# 309657
Copyright © 2026 Great Smoky Mountains Association of 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 offers two separate residences within a single property, built in 1984. The layout features open-concept main levels with spacious great rooms that include fireplaces, plus well-equipped kitchen and dining areas. Each unit includes a main-level bedroom with a private ensuite bath, and a second-level primary suite with a fireplace, a full bath, and generous closet space. Interior details include cathedral ceilings, ceiling fans, storage, and walk-in closets, along with high-speed internet and solid surface counters. The property totals 2,644 square feet on a 0.42-acre lot and is served by a well and septic tank. Construction is frame with stone and wood siding, with vinyl flooring and a metal roof. Heating and cooling are provided by heat pump and electric systems.
Outside, the duplex includes driveways and attached carports, along with a porch and private rear decks for outdoor enjoyment. The home is set at the end of a quiet road with wooded views and peeks of the mountains and valley.
Both units are currently on a short-term rental program, providing the opportunity to use the property as an investor set-up or for multi-generational living.
Outside, the duplex includes driveways and attached carports, along with a porch and private rear decks for outdoor enjoyment. The home is set at the end of a quiet road with wooded views and peeks of the mountains and valley.
Both units are currently on a short-term rental program, providing the opportunity to use the property as an investor set-up or for multi-generational living.
Key Highlights
- 2,644 SF duplex on a 0.42‑acre lot
- Built in 1984 with metal roof and frame construction with stone and wood siding
- Two separate units; each includes a fireplace and a second‑level primary suite
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
$19,632
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
3.47%
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%
$392,640
$392.6K
Cap Rate 7%
$280,457
$280.5K
Cap Rate 9%
$218,133
$218.1K
Market Conditions
NOI Build-Up for 2,644 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
$39.7K $15.00/SF
− Vacancy
−$4.0K −$1.50/SF
EGI
$35.7K $13.50/SF
− OpEx
−$16.1K −$6.08/SF
NOI
$19.6K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
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%
$392,640
Cap Rate 7%
$280,457
Cap Rate 9%
$218,133
Alternative Uses
Best Use
Apartment 5plus
$280.5K
$245.4K – $327.2K
NOI $19,632 @ 7.0% cap · market cap 3.47%
Second Best
Multifamily LT 5
$206.1K
$180.3K – $240.5K
NOI $14,427 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$1.12M
$975.6K – $1.30M
NOI $78,051 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 37876, TN
32,866
Population
18,206
Households
1.8
Avg Household Size
45
Median Age
22%
College-Educated
89%
High-School Grad
186.8 sq mi
ZIP Area
176
Density / Sq Mi
$58,513
Median Household Income
$33,603
Median Earnings
$997
Median Rent
$257,800
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 - Two-unit duplex in A-1 zoning with fireplaces, attached carports, patios and decks, and well and septic service.
Where is this duplex located?
The property is located at 4238 Dollys Drive Sevierville, TN.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,644 SF duplex on a 0.42‑acre lot; Built in 1984 with metal roof and frame construction with stone and wood siding; Two separate units; each includes a fireplace and a second‑level primary suite
