Dual-Income Duplex with Vacant
For Sale
$330,000
633 Russell Avenue, Harriman, TN 37748
Duplex offers a fenced shared yard, attached garage, and in-unit laundry hookups, plus an included adjacent vacant lot.
Property Size1,960 SF
Lot Size1.00 Acre
Price / SF$168.37
Days on Market54
Property Features for 633 Russell Avenue
General Information
Standard status
Active
Size
1,960 SF
Lot size
1.00 Acre
Property subtype
Multi-Family
Net Operating Income
$23,000
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,429
Amenities
fenced yard
attached garage
laundry hookups
Central Cooling, Ceiling Fan(s)
Yes
Laminate
True
Heat Pump, Central, Forced Air, Natural Gas, Electric
Microwave, Range, Refrigerator
Vinyl, Frame
Building Details
Year Built
2010
Listing Agency:
Lake Homes Realty of East Tennessee
(865) 278-4456
Listed By:
Tevis Hope
Source:
Compass
Added: Jun 16
Changed: Aug 8
Last Checked: Jul 20 at 9:03AM
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 Lake Homes Realty of East Tennessee
Investment Insights
Based on property information with market context.
This for-sale dual-income duplex includes two rental units and an attached garage. Unit #1 is a 1-bedroom, 1-bathroom layout. Unit #2 is a 2-bedroom, 1-bathroom layout. Both units share access to a large, fully fenced yard, and the property also includes dedicated laundry hookups.
The duplex is located at 633 Russell Avenue in Harriman, Tennessee, and the offering also includes a vacant lot totaling 0.47 acres. The combined lot size is 0.53 acres, providing space that may support future expansion or development after due diligence.
The property is offered as a residential income opportunity, with the existing duplex providing two separate units and the additional vacant land included in the sale. Buyer to verify all information.
The duplex is located at 633 Russell Avenue in Harriman, Tennessee, and the offering also includes a vacant lot totaling 0.47 acres. The combined lot size is 0.53 acres, providing space that may support future expansion or development after due diligence.
The property is offered as a residential income opportunity, with the existing duplex providing two separate units and the additional vacant land included in the sale. Buyer to verify all information.
Key Highlights
- Duplex built in 2010 on a 0.53‑acre lot with unit #1 (1 bed/1 bath) and unit #2 (2 bed/1 bath).
- Massive fully fenced shared yard for both units, including a walk‑in shower and washer/dryer hookups.
- Attached garage provides dedicated parking and/or extra storage for the property.
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
5.79%
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 5.79%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.2K
NOI $17,590 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$485.5K
$424.8K – $566.4K
NOI $33,982 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
136
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offers a fenced shared yard, attached garage, and in-unit laundry hookups, plus an included adjacent vacant lot.
Where is this duplex located?
The property is located at 633 Russell Avenue Harriman, TN.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Duplex built in 2010 on a 0.53‑acre lot with unit #1 (1 bed/1 bath) and unit #2 (2 bed/1 bath).; Massive fully fenced shared yard for both units, including a walk‑in shower and washer/dryer hookups.; Attached garage provides dedicated parking and/or extra storage for the property.
