Short-Term Rental
For Sale
$475,000
6628 Greer Rd, Knoxville, TN 37918
Multi-Family, Knoxville, TN
Property Size2,376 SF
Lot Size0.62 Acres
Price / SF$199.92
Days on Market94
Property Features for 6628 Greer Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Full bathrooms
4
Rooms
Dining Room, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 5, Bathroom 1
Patio and Porch features
Porch, Patio
Appliances
Dishwasher, Dryer, Range, Refrigerator, Washer
Subdivision
Ollie A McCloud Pt 4
Directions
From Downtown Knoxville heading North on I-275 and continue straight onto I-75 North. In 2.9 miles take exit 110 and turn Right onto Callahan Dr. In 0.5 miles turn Right onto Dante Rd. At the bend, stay straight onto Greer Rd and In 0.2 Miles the Duplex will be on your left. No sign on property. Units are occupied on a reservation basis as a short-term rental so please do not walk onsite without a scheduled appointment.
Standard status
Active
APN
057NB00602
Size
2,376 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Annual Amount
483
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Zoned
Amenities
two full kitchens
dual laundry connections
screened-in porch
BBQ patio
fenced backyard
children's playset
Building Details
Year built
1956
Number of units
2
Flooring type
Laminate, Tile
Building materials
Block, Frame
Roof type
Metal
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License #263596
(865) 444-3241
Added: Jun 6
Changed: Sep 3
Last Checked: Sep 7 at 3:06PM
MLS# 1343761
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.
This 2,376-square-foot duplex is arranged within a five-bedroom, four-bathroom layout and currently operates as a short-term rental. The two units include full kitchens, separate HVAC systems, independently metered water and electricity, two water heaters, and dual laundry connections with 2 washer and 3 dryer connections. Together, the property accommodates up to 17 guests across 9 beds. Interior dining areas seat 8 and 6 guests, with an additional three-seat breakfast bar.
Outdoor features include a screened porch, BBQ patio, multiple seating areas, and a fenced backyard with a children's playset. A gravel pull-through drive provides parking for 7+ vehicles, along with overflow capacity for trailers or boats. The property sits on 0.62 acres approximately 15 minutes from Covenant Park, Neyland Stadium, and UTK. It was built in 1956 and includes central heating, natural gas, central air, zoned cooling, laminate and tile flooring, and a metal roof.
Outdoor features include a screened porch, BBQ patio, multiple seating areas, and a fenced backyard with a children's playset. A gravel pull-through drive provides parking for 7+ vehicles, along with overflow capacity for trailers or boats. The property sits on 0.62 acres approximately 15 minutes from Covenant Park, Neyland Stadium, and UTK. It was built in 1956 and includes central heating, natural gas, central air, zoned cooling, laminate and tile flooring, and a metal roof.
Key Highlights
- Duplex configured as two units within a 5‑bedroom, 4‑bathroom footprint
- 2,376 square feet on 0.62 acres
- Accommodates up to 17 guests across 9 beds
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
$23,172
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
4.88%
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%
$463,440
$463.4K
Cap Rate 7%
$331,029
$331.0K
Cap Rate 9%
$257,467
$257.5K
Market Conditions
NOI Build-Up for 2,376 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
$35.6K $15.00/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$33.1K $13.93/SF
− OpEx
−$9.9K −$4.18/SF
NOI
$23.2K $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%
$463,440
Cap Rate 7%
$331,029
Cap Rate 9%
$257,467
Alternative Uses
Best Use
Multifamily LT 5
$331.0K
$289.7K – $386.2K
NOI $23,172 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$304.6K
$266.5K – $355.4K
NOI $21,323 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$588.5K
$514.9K – $686.6K
NOI $41,194 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
171
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 furnished units offer separate utilities, kitchens, HVAC systems, and laundry connections for flexible residential use.
Where is this duplex located?
The property is located at 6628 Greer Rd Knoxville, TN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex configured as two units within a 5‑bedroom, 4‑bathroom footprint; 2,376 square feet on 0.62 acres; Accommodates up to 17 guests across 9 beds
