Duplex With Updated
For Sale
Contact for pricing
5121 Montrose Rd, Knoxville, TN 37918
Two separately metered residences feature laundry rooms, refreshed flooring, and newer heat pumps.
Property Size3,640 SF
Price / SF$163.46
Days on Market8
Property Features for 5121 Montrose Rd
General Information
Standard status
Active
Size
3,640 SF
Class
C
Property subtype
Multifamily
Zoning
RN-2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$56,400
Financials
Gross Income
$56,400
Average Monthly Rent
$2,350
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Building Details
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Wallace Commercial
Listed By:
Chris Bruce · License #TN
(865) 690-1111
Source:
Crexi
Added: Aug 27
Changed: Sep 1
Last Checked: Sep 1 at 10:03PM
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 Wallace Commercial
Investment Insights
Based on property information with market context.
This duplex contains 3,640 square feet and is arranged as two residences, each offering four bedrooms, two bathrooms, and a dedicated laundry room. Both units have new heat pumps, updated interior electrical service panels, and new luxury vinyl plank flooring on the upper levels. Electricity and water are individually metered for each residence.
The property is located in North Knoxville, one mile west of Broadway and near Fountain City. It carries RN-2 zoning and is situated at 5121 Montrose Rd in Knoxville, Tennessee. Showings are available by appointment, with access coordinated around the occupants.
The property is located in North Knoxville, one mile west of Broadway and near Fountain City. It carries RN-2 zoning and is situated at 5121 Montrose Rd in Knoxville, Tennessee. Showings are available by appointment, with access coordinated around the occupants.
Key Highlights
- Two‑unit duplex with 3,640 SF total building area
- Each unit includes 4 bedrooms and 2 bathrooms
- Separate electric and water meters serve each residence
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
$35,499
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
5.97%
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%
$709,980
$710.0K
Cap Rate 7%
$507,129
$507.1K
Cap Rate 9%
$394,433
$394.4K
Market Conditions
NOI Build-Up for 3,640 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
$54.6K $15.00/SF
− Vacancy
−$3.9K −$1.07/SF
EGI
$50.7K $13.93/SF
− OpEx
−$15.2K −$4.18/SF
NOI
$35.5K $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 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%
$709,980
Cap Rate 7%
$507,129
Cap Rate 9%
$394,433
Alternative Uses
Best Use
Multifamily LT 5
$507.1K
$443.7K – $591.7K
NOI $35,499 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$466.7K
$408.3K – $544.5K
NOI $32,667 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$901.6K
$788.9K – $1.05M
NOI $63,109 @ 7.0% cap · market cap 10.61%
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
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 37918, TN
46,245
Population
20,228
Households
2.3
Avg Household Size
40
Median Age
31%
College-Educated
93%
High-School Grad
34.6 sq mi
ZIP Area
1,337
Density / Sq Mi
$69,311
Median Household Income
$41,882
Median Earnings
$1,102
Median Rent
$237,500
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 metered residences feature laundry rooms, refreshed flooring, and newer heat pumps.
Where is this duplex located?
The property is located at 5121 Montrose Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,640 SF total building area; Each unit includes 4 bedrooms and 2 bathrooms; Separate electric and water meters serve each residence
