Ashley Wade Keller Williams Realty
Counties: Knox, Loudon, Blount, Sevier, Monroe, Roane, Campbell, Union, Anderson, Clairborne, Sevier, Jefferson
Cities and Towns: Knoxville, Farragut, Lenoir City, Loudon, Maryville, Louisville, Friendsville, Madisonville, Kingston, Harriman, Rockwood, Gatlinburg, Sevierville, Pigeon Forge, Townsend, Seymour, Maryville, Oak Ridge, Clinton, Andersonville, Maynardville, Sharps Chapel, Lafollette, Rocky Top, New Tazewell
Licensed Since: 2007 | TN License # 314114
About Ashley Wade
I have lived in Knoxville for most of my life, having moved here originally to attend UT. I have been involved in construction and real estate my entire life. My father was a project manager in commercial construction. I started my career in 2001 with Colorado's largest homebuilder, and I have a great understanding of construction and what is important to buyers. My goal is to help investors build wealth, whether it be through flips or holds. I understand the difference between the margin needed for flips and holds. I work with investors to find the right properties to fit their portfolios, whether it be a rental, high-end flip, low-end flip or short-term rental. I will always be 100% honest with my clients, and I want to build a long-term partnership. I know how the investment process works, and you may have to make many offers before you find the right one. I currently own 3 traditional rental properties and one AirBNB.
To learn more about Ashley, listen to her interview on The Rental Income Podcast:
Buying Rentals for Cash Flow and Appreciation with Ashley Wade (Ep 300)
Knoxville is a great city for investors. We currently have people relocating here from all over the country due to our low cost of living and no state income tax. We are consistently listed on the top places to move to. Knoxville is surrounded by lakes and mountains and has many cultural opportunities for a mid-size city. The University of Tennessee is also located here, and we have a large student population. We have many large employers in the area, and we are seeing significant economic growth with companies relocating here. Pilot Corporation, Clayton Homes and Oak Ridge National Laboratory are huge organizations based in this area. The fundamentals for Knoxville are excellent, with the beauty of our lakes and mountains, low cost of living, low unemployment and an easy 3 hour drive to Atlanta and Nashville. We have a great downtown area and a burgeoning craft beer scene. Our inner-city neighborhoods are currently experiencing gentrification which has provided many opportunities for investors to find low-cost homes with high margins. You can still buy a flip for under $100k here, although it is competitive. 37917 has been listed as one of the best zip codes for flipping. There are significant margins to be made in high-end flips, as well. We have many high net worth individuals residing and relocating to this area. There is a shortage of long-term rental properties, as well as short-term rentals. With UT, UT Medical Center, UT Law School and Oak Ridge National Laboratory, we have a huge demand for rentals. I have increased my personal net worth and the net worth of my clients significantly over the past several years through rental property appreciation and cash flow. You can find rental properties in our area under $150k. I have an excellent network to help find off-market properties as well.
Investment Price Points
There are many different investment opportunities in Knoxville. You can find properties under $100k in inner-city neighborhoods, and rare deals in other areas. The average sales price in Knoxville is around $220k. You could cash flow at that price. The highest price point in our area for a high end flip would be $400k-$500k. you can potentially get a 6 figure return in the right neighborhoods. Entry level price points for rentals would be $100k - $150k depending on the area. You can find a near tear down for $50k. West Knoxville is the more expensive area of town, but a great rental market. Rents in the West Knox area will range from $1500 to $3000 per month. There is always a shortage of nice rentals. Short term rentals are not allowed in the City of Knoxville except in the downtown district unless owner-occupied. They are allowed in Knox County (please verify). We have a huge vacation rental market in the mountain and lake areas (Sevier County, Blount County, Anderson County, Campbell County, etc.).
Free Report: Demographic and Housing Data on the Knoxville Market
Would you like free demographic and housing data on the Knoxville market? The report includes information on schools, income, employment, crime, average sale prices, fair market rents and more. You can get reports on the whole market or zero in on a specific zip code.
This report has all the info you need to help you decide if the Knoxville market is right for you! Click here to get your free report.