Historic Two-Unit
New
For Sale
$799,900
812 N 4th Ave, Knoxville, TN 37917
MULTI_FAMILY - Knoxville, TN
Property Size3,177 SF
Lot Size0.17 Acres
Price / SF$251.78
Days on Market6
Property Features for 812 N 4th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 1
Parking features
On Street, Off Street
Window features
Wood Frames
Patio and Porch features
Porch
Interior features
Cathedral Ceiling(s)
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
Subdivision
Mrs W A Branners Add
Elementary school
Christenberry
Middle school
Vine/Magnet
High school
Austin East/Magnet
Directions
From Downtown Knoxville: Take Hall of Fame Drive north from downtown. Continue straight as Hall of Fame Drive becomes Broadway. Turn left onto East Fifth Avenue. Turn right onto North Fourth Avenue. Continue north approximately 0.2 miles. 812 N 4th Ave will be on your left in the historic Fourth & Gill neighborhood
Standard status
Active
APN
082PA014
Size
3,177 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2212
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1899
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Cedar, Frame
Roof type
Aluminum
Listing Agency:
Real Broker
(844) 591-7325
Listed By:
Quinn Epperly
(865) 963-8462
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 8 at 3:06PM
MLS# 1350530
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 3,177-square-foot duplex was built in 1899 and extensively remodeled in 2019. The two-unit layout provides 2 bedrooms and 2 full bathrooms on each side, with the option to restore the property to a single-family residence. Original hardwood flooring, stained-glass windows, high ceilings, and cedar siding preserve its historic character, while updated bathrooms, white shaker cabinetry, tiled surfaces, central heating, and central air add modern functionality. The property also includes a porch, off-street and on-street parking, and a 0.17-acre lot.
Currently operating as an Airbnb, the duplex carries commercial zoning and is eligible for Type 2 non-owner-occupied short-term rental permits. It is located in Knoxville’s Historic Fourth & Gill neighborhood, within walking distance of the new baseball stadium, restaurants, breweries, shopping, and entertainment, with downtown Knoxville only minutes away. Furnishings may be purchased separately.
Currently operating as an Airbnb, the duplex carries commercial zoning and is eligible for Type 2 non-owner-occupied short-term rental permits. It is located in Knoxville’s Historic Fourth & Gill neighborhood, within walking distance of the new baseball stadium, restaurants, breweries, shopping, and entertainment, with downtown Knoxville only minutes away. Furnishings may be purchased separately.
Key Highlights
- 3,177 SF duplex situated on a 0.17‑acre lot
- Two units, each with 2 bedrooms and 2 full bathrooms
- Built in 1899 and extensively remodeled in 2019
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
$30,983
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
3.87%
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%
$619,660
$619.7K
Cap Rate 7%
$442,614
$442.6K
Cap Rate 9%
$344,256
$344.3K
Market Conditions
NOI Build-Up for 3,177 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
$47.7K $15.00/SF
− Vacancy
−$3.4K −$1.07/SF
EGI
$44.3K $13.93/SF
− OpEx
−$13.3K −$4.18/SF
NOI
$31.0K $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%
$619,660
Cap Rate 7%
$442,614
Cap Rate 9%
$344,256
Alternative Uses
Best Use
Multifamily LT 5
$442.6K
$387.3K – $516.4K
NOI $30,983 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$407.3K
$356.4K – $475.2K
NOI $28,512 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$786.9K
$688.5K – $918.0K
NOI $55,082 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
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 - Remodeled in 2019, the property retains original hardwood floors, stained glass, and tall ceilings alongside updated interiors.
Where is this duplex located?
The property is located at 812 N 4th Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: 3,177 SF duplex situated on a 0.17‑acre lot; Two units, each with 2 bedrooms and 2 full bathrooms; Built in 1899 and extensively remodeled in 2019
