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8019 Asheville Hwy - Eastwood Townhomes 10.23 Acres of Residential Land in Knoxville, TN 37924
Investment Highlights
- Luxury BTR Product by Award-Winning Homebuilder
- Knox County Tax Savings
- Strong Renter-by- Choice Demographics
- Knoxville’s Continued Outward Expansion
Executive Summary
The immediate trade area reports a median household income of $86,758 — 60% above the city of Knoxville median number. Homeownership in this corridor is economically inaccessible for a large share of working families: median home sale prices within 5 miles have reached $386,500, and prevailing 30-year mortgage rates translate to monthly carrying costs of $2,400–$2,600 — well above the subject’s proforma average rent of $2,173. This affordability gap is the engine of durable occupancy.
The broader market context is equally favorable. Knox County is the second-fastest growing county in Tennessee, the Knoxville MSA is on pace to surpass one million residents, and the Asheville Highway corridor has been formally designated as a priority redevelopment corridor in the county’s newly adopted 20-year comprehensive plan. A concentrated cluster of catalyst investment — including the $114M Covenant Health Park, Greenheck Group’s $300M manufacturing campus, and multiple private-sector expansions — is expanding the local employment base in the skilled-trades and workforce segments that de?ne the immediate renter demographic.
The property’s location in unincorporated Knox County further enhances investment returns through a materially lower property tax burden, generating an estimated annual savings of approximately $275,000 relative to a comparable in-city asset. Together, the demographic pro?le, product quality, structural rental demand, and favorable tax positioning establish a compelling risk-adjusted investment thesis.
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Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Proposed Use | Multifamily |
| Property Type | Land | Total Lot Size | 26.54 AC |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 26.54 AC |
1 Lot Available
Lot
| Lot Size | 10.23 AC |
| Lot Size | 10.23 AC |
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Description
Eastwood Townhomes presents a unique opportunity to acquire a luxury build-to-rent community developed by D.R. Horton — America’s leading homebuilder — in one of the Southeast’s most compelling and consistently growing mid-market metros. Positioned along the Asheville Highway corridor in East Knoxville, the community delivers an institutional grade, townhome rental product in a submarket characterized by above average household income, low resident turnover, structural renter demand, and a rapidly expanding employment base. The immediate trade area reports a median household income of $86,758 — 60% above the city of Knoxville median number. Homeownership in this corridor is economically inaccessible for a large share of working families: median home sale prices within 5 miles have reached $386,500, and prevailing 30-year mortgage rates translate to monthly carrying costs of $2,400–$2,600 — well above the subject’s proforma average rent of $2,173. This affordability gap is the engine of durable occupancy. The broader market context is equally favorable. Knox County is the second-fastest growing county in Tennessee, the Knoxville MSA is on pace to surpass one million residents, and the Asheville Highway corridor has been formally designated as a priority redevelopment corridor in the county’s newly adopted 20-year comprehensive plan. A concentrated cluster of catalyst investment — including the $114M Covenant Health Park, Greenheck Group’s $300M manufacturing campus, and multiple private-sector expansions — is expanding the local employment base in the skilled-trades and workforce segments that de?ne the immediate renter demographic.
Property Taxes
| Parcel Number | 062-16305 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $15,587 CAD |
Property Taxes
Contacts
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Jordan Arand -
Adam Klenk -
Austin Heithcock -
Blake Wiser -
Quentin Nichols -
Northmarq
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8019 Asheville Hwy - Eastwood Townhomes
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