Duplex with Fenced
For Sale
$279,999
633 Russell Ave, Harriman, TN 37748
MULTI_FAMILY - Harriman, TN
Property Size1,960 SF
Lot Size0.53 Acres
Price / SF$142.86
Days on Market49
Property Features for 633 Russell Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Parking features
Garage, Open, Carport, Off Street
Interior features
Walk-In Closet(s), Kitchen Island, Pantry
Appliances
Microwave, Range, Refrigerator
Directions
From I-40, take exit 350 Harriman. Turn right onto TN-29. In 1.7 miles, turn right onto Scarbro Road. Turn right onto Russell. Duplex will be on the left.
Subdivision
Roane County - 31
Standard status
Active
APN
036G G 01700 000
Size
1,960 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Annual Amount
3429
Utilities
Heating system
Central, Electric (Heating), Forced Air, Natural Gas, Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Amenities
fully fenced shared yard
attached garage
dedicated laundry hookups
Building Details
Year built
2010
Number of units
2
Flooring type
Laminate
Building materials
Vinyl Siding, Frame
Roof type
Shingle
Listing Agency:
Lake Homes Realty of East Tennessee
(865) 850-2518
Listed By:
Tevis Hope
(865) 278-4456
Added: Jul 3
Changed: Aug 13
Last Checked: Aug 20 at 2:06AM
MLS# 1346853
Copyright © 2026 East Tennessee 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.
Built in 2010, this 1,960-square-foot duplex includes two distinct residences on a .53-acre parcel in Harriman. One unit provides 1 bedroom and 1 bathroom, while the second offers 2 bedrooms and 1 bathroom. Both units connect to a shared, fully fenced yard. An attached garage includes laundry hookups and can support parking or storage needs. Additional parking is available through open, carport, and off-street spaces.
Interior features include walk-in closets, a kitchen island, and a pantry, with ranges, refrigerators, and microwaves included. The property has vinyl siding, laminate flooring, a shingle roof, central air, and ceiling fans. Located at 633 Russell Ave in Harriman, Tennessee, the duplex is positioned in Roane County.
Interior features include walk-in closets, a kitchen island, and a pantry, with ranges, refrigerators, and microwaves included. The property has vinyl siding, laminate flooring, a shingle roof, central air, and ceiling fans. Located at 633 Russell Ave in Harriman, Tennessee, the duplex is positioned in Roane County.
Key Highlights
- 1,960‑square‑foot duplex on a .53‑acre lot
- Unit mix includes 1‑bedroom/1‑bathroom and 2‑bedroom/1‑bathroom residences
- Fully fenced shared yard serves both units
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
$19,115
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
6.83%
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%
$382,300
$382.3K
Cap Rate 7%
$273,071
$273.1K
Cap Rate 9%
$212,389
$212.4K
Market Conditions
NOI Build-Up for 1,960 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
$29.4K $15.00/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$27.3K $13.93/SF
− OpEx
−$8.2K −$4.18/SF
NOI
$19.1K $9.75/SF
Area
Roane County, 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%
$382,300
Cap Rate 7%
$273,071
Cap Rate 9%
$212,389
Alternative Uses
Best Use
Multifamily LT 5
$273.1K
$238.9K – $318.6K
NOI $19,115 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.2K
NOI $17,590 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 12.14%
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
99
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?
Duplex - Two separate residences share a fenced outdoor area and an attached garage with laundry connections.
Where is this duplex located?
The property is located at 633 Russell Ave Harriman, TN.
What is the asking price?
The asking price for this property is $279,999.
What are key features of this property?
This property features: 1,960‑square‑foot duplex on a .53‑acre lot; Unit mix includes 1‑bedroom/1‑bathroom and 2‑bedroom/1‑bathroom residences; Fully fenced shared yard serves both units
