Multifamily Property with Central
For Sale
$2,199,000
637 Idlewood Lane 1-4, Knoxville, TN 37923
The property includes central air, ceiling fans, and electric heat pump service.
Property Size9,228 SF
Days on Market11
Property Features for 637 Idlewood Lane 1-4
General Information
Standard status
Active
Size
9,228 SF
Property subtype
Residential Income
Amenities
Central Air, Ceiling Fan(s)
Heat Pump, Central, Electric
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer
Walk-In Closet(s), Cathedral Ceiling(s), Pantry
Off Street, On Street, Attached, Garage Door Opener, Garage
Balcony
Building Details
Building Size
9,228 SF
Year Built
2023
Listing Agency:
Vision Properties Group, Inc.
Listed By:
Tanya Price · License #280713
(865) 297-8597
Source:
Evrealestate
Added: Oct 5
Changed: Oct 10
Last Checked: Oct 14 at 10:42PM
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 Vision Properties Group, Inc.
Investment Insights
Based on property information with market context.
This multifamily property was built in 2023 and contains 9,228 square feet. Interior features include central air and ceiling fans, with central electric heat supplied by a heat pump. Attached and on-street parking are listed among the exterior features.
The property is located at 637 Idlewood Lane in Knoxville, Tennessee.
The property is located at 637 Idlewood Lane in Knoxville, Tennessee.
Key Highlights
- 9,228 square feet
- Built in 2023
- Central air and ceiling fans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,815
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,656,300
$1.7M
Cap Rate 7%
$1,183,071
$1.2M
Cap Rate 9%
$920,167
$920.2K
Market Conditions
NOI Build-Up for 9,228 SF
Gross rent
$162.8K $17.64/SF
− Vacancy
−$12.2K −$1.32/SF
EGI
$150.6K $16.32/SF
− OpEx
−$67.8K −$7.34/SF
NOI
$82.8K $8.97/SF
Area
Knoxville, 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 Rate 5%
$1,656,300
Cap Rate 7%
$1,183,071
Cap Rate 9%
$920,167
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.04M – $1.38M
NOI $82,815 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $159,991 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 37923, TN
29,705
Population
14,238
Households
2.1
Avg Household Size
37
Median Age
47%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
2,676
Density / Sq Mi
$70,046
Median Household Income
$42,498
Median Earnings
$1,303
Median Rent
$292,500
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?
Multifamily property - The property includes central air, ceiling fans, and electric heat pump service.
Where is this multifamily property located?
The property is located at 637 Idlewood Lane 1-4 Knoxville, TN.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: 9,228 square feet; Built in 2023; Central air and ceiling fans
