Income Producing Property with 2 Units – 611/613 Glenoaks Drive – Knoxville, TN 37912
ONLINE ONLY REAL ESTATE AUCTION
Two Homes on One Parcel — Immediate Income-Producing Investment Opportunity
This exceptional investment property offers two separate dwellings on a single parcel, currently generating $2,250.00 per month in rental income on a month-to-month basis — making it a truly turnkey income-producing opportunity from day one. With a main home, a detached secondary dwelling, and a detached garage, this property delivers outstanding flexibility and value for investors and owner-occupants alike.
BIDDING BEGINS TO CLOSE:
Friday, October 9th
at 12:00PM – Noon (ET)
OPEN HOUSE:
Wednesday, October 7th
at 12:00PM – Noon (ET)
UNIT 1 | 611 Glenoaks Drive – Knoxville, TN 37912
Main Home — Approximately 1,220 SF (611) — $1,500/Month:
The main home features 3 bedrooms and 1 bathroom with beautiful oak flooring throughout most of the home. The comfortable and well-laid-out floor plan includes:
- Living room open to the dining room
- Additional room that could easily serve as a 4th bedroom if desired
- Covered front porch
- Detached garage
- Rented for $1,500.00 per month (month-to-month)
UNIT 2 | 613 Glenoaks Drive – Knoxville, TN 37912
Detached Secondary Dwelling — Approximately 768 SF (613) — $750/Month:
The detached secondary dwelling offers a wonderfully private and self-contained living space situated at the rear of the property, accessed via a separate driveway off the back alley. Featuring 2 bedrooms and 1 bathroom, this charming unit includes:
- Living room
- Covered front porch
- Private and separate access — ideal for tenant privacy
- Rented for $750.00 per month (month-to-month)
Investment Summary:
- Combined monthly rental income: $2,250.00 (month-to-month)
- Main home (611): $1,500.00 per month
- Detached dwelling (613): $750.00 per month
- Both units currently rented month-to-month
The Opportunity:
Two-home parcels generating immediate rental income with separate access, detached garage, and month-to-month tenancy offering flexibility for the new owner are increasingly rare. Whether you’re an experienced investor looking to add a solid income-producing asset to your portfolio or a buyer seeking to live in one unit while generating rental income from the other, this property delivers the value, flexibility, and immediate cash flow to make it an outstanding acquisition.
Knox County Parcel / Tax ID:
069ID014
Year Built:
1930 (main house) and 1940 (secondary dwelling)
Yearly Property Taxes:
$1,775.04 – total yearly taxes | $1,031.45 – City of Knoxville and $743.50 – Knox County
Lot Size:
0.317+/- acre
YOU WILL NEED TO EMAIL PROOF OF FUNDS INFORMATION WHEN YOU REGISTER. THIS CAN BE A BANK LETTER, SCREENSHOT OF ONLINE BANKING/INVESTMENT ACCOUNT/RETIREMENT ACCOUNT, LOAN PRE-APPROVAL LETTER, ETC.
PLEASE EMAIL THIS TO phillip@powellauction.com. YOUR REGISTRATION/BID WILL REMAIN PENDING UNTIL WE RECEIVE YOUR PROOF OF FUNDS INFORMATION.
PLEASE CALL KENNY OR PHILLIP AT 865-938-3403 WITH ANY QUESTIONS.
Real Estate Terms:
Powell Auction will email winning bidder your contract. The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. US currency cash or approved check. The balance is to be paid in full at the deed closing. By bidding you are entering into a binding agreement.
M&M Title will be conducting the closing. Current taxes, will be prorated at the date of closing, unless otherwise specified. Seller to provide deed. Buyer is responsible for title opinion, title insurance & recording fees. Buyer is responsible for HOA requirements, transfer fees, membership fees, if applicable. Title company closing cost to be split between buyer & seller. Buyer is to obtain his/her own financing. Closing to occur on or before November 9th, 2026.
The contract will not be contingent upon financing, inspections or any other contingencies.
Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s).
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. Tennessee Residential Property Exemption and Lead-Based Paint Waiver will be part of the sales contract. Any remaining personal property will convey at closing. **Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time.**
Thank you for participating in this Powell Auction & Realty LLC Online Auction.
It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding. Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid sniping. Powell Auction & Realty LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed, after the auction has ended. Payment must be made within 48 Hrs after being contacted by Powell Auction & Realty LLC. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed or implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. We do not approve any international bidding. It is up to the auctioneer to approve or disapprove bidders.
New Bidders, please Pre-Register, we will have to approve you to Bid!
