116 S Gay St APT 706KnoxvilleTN37902
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Knoxville at 116 S Gay St APT 706, Knoxville, TN, 37902 generates $1,788/mo in rent, after a $1,659/mo payment. Total monthly income is $1,788/mo. Return on cash invested sits at 15.69% in year one, and rental yield is 6.33% on a $339,000 entry. Equity gained on principal adds $2,188/yr, while 5% annual appreciation builds toward $93,659 over five years. Five-year ROI reaches 80.54% and total cumulative return in cash sums $90,508. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,788/mo property income rather than buyer’s personal income.
Condo
Built in 1920
435.60 sqft lot
$N/A/sqft
$154 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 37902, Knoxville, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,119 (100%) |
| Owner Occupied HU | 361 (17.0%) |
| Renter Occupied HU | 1,456 (68.7%) |
| Vacant Housing Units | 302 (14.3%) |
| Median Home Value | $584,391 |
| Average Home Value | $590,069 |
Housing Distribution
Address Breakdown
Residential
2,101
Single Family
735
Multi-Family
1,366
Businesses
549
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Listed by: Joe Consumo • Terminus Real Estate, Inc.
Mls Name: East Tennessee Realtors
Mls Provider:
Mls ID: #1310509
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Listing Information presented by local MLS brokerage: Zillow, Inc., local broker - Hendrik Van Leesten - (865) 378-5282.