Harriman Multifamily Investment
For Sale
$1,450,000
Pending
435 Hillside Dr, Harriman, TN 37748
Multifamily property with 10 units in Harriman, Tennessee.
Property Size9,072 SF
Days on Market172
Property Features for 435 Hillside Dr
General Information
Standard status
Pending
Size
9,072 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,536
Listing Agency:
PWA Properties
(865) 233-6441
Listed By:
Kevin G. Tipton · License #351465
(865) 233-6441
Source:
Exprealty
Added: Mar 4
Changed: Aug 23
Last Checked: Aug 13 at 5:29AM
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 PWA Properties
Investment Insights
Based on property information with market context.
This multifamily property, located in Harriman, Tennessee, features 10 units. The property encompasses a total size of 9072 square feet, presenting a residential income opportunity.
Key Highlights
- Multifamily property in Harriman, TN
- Features 10 Units
- Built in 1978
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
$81,415
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
5.61%
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%
$1,628,300
$1.6M
Cap Rate 7%
$1,163,071
$1.2M
Cap Rate 9%
$904,611
$904.6K
Market Conditions
NOI Build-Up for 9,072 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
$160.0K $17.64/SF
− Vacancy
−$12.0K −$1.32/SF
EGI
$148.0K $16.32/SF
− OpEx
−$66.6K −$7.34/SF
NOI
$81.4K $8.97/SF
Area
Roane County, TN
Vacancy
7.50%
Lease Rate
$17.64 /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%
$1,628,300
Cap Rate 7%
$1,163,071
Cap Rate 9%
$904,611
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,415 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.25M
$1.97M – $2.62M
NOI $157,287 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
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?
Apartment building - Multifamily property with 10 units in Harriman, Tennessee.
Where is this apartment building located?
The property is located at 435 Hillside Dr Harriman, TN.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Multifamily property in Harriman, TN; Features 10 Units; Built in 1978
