3 months on rocket

116 S Gay St Unit 501, Knoxville, TN, 37902

$350,000

Home List Price

$4,156*

Closing Credit

1 Bedroom
1 Full Bath
600 SqFt
$583/SqFt
Condo

Location

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116 S Gay St Unit 501, Knoxville$350,000

Buyer Closing Credits

$4,156*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
ParkingOn-Street Parking, Other, Off-Street Parking
Year Built1920
HeatingCentral, Electric
CoolingCentral Air
FireplaceOther, None
ViewMountain(s), City
MLS #1275386
Lot Size0.01 Acres
StatusActive

About 116 S Gay St Unit 501

Discover the perfect blend of style and convenience with this stunning 1 bedroom, 1 bath industrial minimalistic condominium located in the vibrant heart of downtown Knoxville. This sleek and modern unit is designed for those who appreciate clean lines, open spaces, and urban sophistication. Nestled in the center of Downtown Knoxville, you're just steps away from the city's best restaurants, nightlife, and entertainment venues. Enjoy effortless access to a dynamic array of dining and cultural experiences right at your doorstep. Conveniently located to the University of Tennessee, this property is ideal for students or university staff, making it a perfect residence for academic professionals or those who want to be near campus. With the new baseball stadium currently under construction, you'll be among the first to enjoy exciting games, concerts and other events within just a short walk from the property. Within just a few minutes' drive, explore the developing South Knoxville waterfront area which offers a new array of recreational and dining options for those seeking adventure close to home. Don't miss this opportunity to own a prime location in the heart of downtown.

Property Details

Property Features

Property Information:

  • Architectural Style: Historic
  • Year Built: 1920
  • Living Area: 600 SqFt

Listing Office:

  • Office Name: Terminus Real Estate, Inc.
  • Office Phone: (865) 673-6300

Interior Features

Interior Information:

  • Appliances: Dishwasher, Microwave, Range, Refrigerator, Self Cleaning Oven
  • Basement: No
  • Interior: Elevator, Eat-in Kitchen
  • Fireplace: Other, None

Bedroom and Bathroom Information:

  • Full Bathrooms: 1
  • Total Bedroom Count: 1

Exterior Features

Exterior Information:

  • View: Mountain(s), City
  • Exterior: Windows - Aluminum

Parking Information:

  • Attached Garage: No
  • Parking: On-Street Parking, Other, Off-Street Parking

Lot Features

Lot Information:

  • Lot Size: 0.01 Acres

Utilities

Utilities Information:

  • Heating: Central, Electric
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Located on the historic 100 block of the Arts District downtown. Near the intersection of South Gay Street and Summit Hill.

Price Information

Listing Price Info

Price Summary:

  • List Price: $350,000
  • Price Per SqFt: $583/SqFt

HOA Fees:

  • Amount: $148
  • Frequency: Monthly
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Housing Market Comparison

See how this home compares to others in Knoxville, TN.

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Knoxville, TN

City

Med. Sold Price

$379.4K

Med. Price/SqFt

$213

Avg. Days On Market

35

# of Sold Homes

389

116 S Gay St Unit 501 vs Knoxville

108 DAYS ON ROCKET

+73 Days

$350,000

-$29.4K Less

$583/SqFt

+$370 More

KEY TAKEAWAY

This property is $29.4K less than the Median Sold Price and $370/SqFt more than other homes in Knoxville, TN.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: East Tennessee REALTORS® MLS
  • MLS Number: #1275386

Listing Office:

  • Office Name: Terminus Real Estate, Inc.
  • Office Phone: (865) 673-6300

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.

The Knoxville Area Association of REALTORS® Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Information deemed reliable but not guaranteed. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.

Copyright © 2024 Knoxville Area Association of REALTORS® Multiple Listing Service.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 7:21:07 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

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$1,962

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Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,116

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-767175
2
/10

  • Green Magnet Academy

  • 801 Lula Powell Dr

  • 0.51 miles

  • Public Magnet Grades KG-5

school-card-donut-767176
7
/10

  • South Knox Elementary School

  • 801 Sevier Ave

  • 1.01 miles

  • Public District Grades PK-5

school-card-donut-767177
3
/10

  • Maynard Elementary School

  • 737 College St

  • 1.03 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $27,647. Typical income of Knoxville, TN residents is less than $35k annually. The most common type of family is single, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 116 S Gay St Unit 501

What is the listing price of this property?

The listing price of 116 S Gay St Unit 501 property is $350,000.

What type of property is this?

The property 116 S Gay St Unit 501 is a condo located in Knoxville, Tennessee, 37902.

Is this property for sale now?

Active Listing: 116 S Gay St Unit 501 is For Sale (Active/New) which means the seller is accepting offers.

How many bedrooms and bathrooms does this property have?

The property at 116 S Gay St Unit 501 has 1 bedroom and 1 bathroom.

What is the square footage of this property?

The property 116 S Gay St Unit 501 is 600 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 116 S Gay St Unit 501 is 1920.

Rocket Homes›Tennessee›Knox County›Knoxville›37902›116 S Gay St Unit 501

This home is located at 116 S Gay St Unit 501 in Knoxville, TN and zip code 37902 in the Old City neighborhood. This 600 square foot home, which was built in 1920, sits on a 0.01 acre lot. Features: 1 bedroom, 1 bathroom. It has been listed on Rocket Homes since September 04, 2024 and is currently priced at $350,000.

In November 2024 more than 73 listings in Knoxville, TN were sold above the asking price. During the same period more than 91 listings were sold at asking price, while more than 222 were sold below. In November 2024 in Knoxville, TN there were 7.8% less homes for sale than in October 2024. The median list price of listings available in November 2024 was $379,453, while the average time on the real estate market was 35 days.

From Rocket Homes Real Estate and based on county public records data.

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