Updated Duplex with Vacant
New
For Sale
$449,000
5800 Fountain Rd, Knoxville, TN 37918
Two renovated single-level residences offer flexible occupancy and refreshed systems.
Property Size1,872 SF
Price / SF$239.85
Days on Market4
Property Features for 5800 Fountain Rd
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
washer and dryer connections
storage shed
carport
Building Details
Year Built
1960
Year Renovated
2022
Buildings
1
Stories
1
Listed By:
TNLiving.homes
(865) 250-4094
Source:
Tnliving
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 12 at 8:15AM
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 TNLiving.homes
Investment Insights
Based on property information with market context.
This single-level duplex contains two vacant residences, each with two bedrooms and one bathroom. Both units received substantial updates in 2022, including remodeled kitchens with soft-close cabinets, tile backsplashes, dishwashers, refinished hardwood flooring, refreshed bathrooms, and washer and dryer connections. One unit has a renovated shower enclosure, while the other includes a custom tile shower.
The property also includes replacement windows, PEX plumbing serving the kitchens and bathrooms, HVAC systems replaced in 2020, improved insulation, updated lighting, gutters, downspouts, a paved driveway with retaining walls, a carport, additional off-street parking, and a storage shed. A new roof was installed in September 2026. Located in Fountain City, the property provides access to shopping, dining, major roadways, and downtown Knoxville.
The property also includes replacement windows, PEX plumbing serving the kitchens and bathrooms, HVAC systems replaced in 2020, improved insulation, updated lighting, gutters, downspouts, a paved driveway with retaining walls, a carport, additional off-street parking, and a storage shed. A new roof was installed in September 2026. Located in Fountain City, the property provides access to shopping, dining, major roadways, and downtown Knoxville.
Key Highlights
- Two vacant 2‑bedroom, 1‑bath units with immediate possession
- Both units extensively renovated in 2022
- New roof installed September 2026
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
$18,256
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
4.07%
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%
$365,120
$365.1K
Cap Rate 7%
$260,800
$260.8K
Cap Rate 9%
$202,844
$202.8K
Market Conditions
NOI Build-Up for 1,872 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
$28.1K $15.00/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$26.1K $13.93/SF
− OpEx
−$7.8K −$4.18/SF
NOI
$18.3K $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%
$365,120
Cap Rate 7%
$260,800
Cap Rate 9%
$202,844
Alternative Uses
Best Use
Multifamily LT 5
$260.8K
$228.2K – $304.3K
NOI $18,256 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$240.0K
$210.0K – $280.0K
NOI $16,800 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$463.7K
$405.7K – $540.9K
NOI $32,456 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
579
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two renovated single-level residences offer flexible occupancy and refreshed systems.
Where is this duplex located?
The property is located at 5800 Fountain Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two vacant 2‑bedroom, 1‑bath units with immediate possession; Both units extensively renovated in 2022; New roof installed September 2026
