PARKTOP LANE APARTMENTS9109 Parktop Lane • Knoxville, TN 37923
Offering Memorandum
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N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and
should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any
tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be
reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these
matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to
verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or
name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,
service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
PARKTOP LANE APARTMENTS
Knoxville, TN
ACT ID Z0960007
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TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Offering Summary
Regional Map
Local Map
Aerial Photo
FINANCIAL ANALYSIS 02Rent Roll Summary
Rent Roll Detail
Operating Statement
Notes
Pricing Detail
Acquisition Financing
MARKET COMPARABLES 03Rent Comparables
MARKET OVERVIEW 04
Market Analysis
Demographic Analysis
PARKTOP LANE APARTMENTS
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PARKTOP LANE APARTMENTS
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INVESTMENT
OVERVIEW
PARKTOP LANE APARTMENTS
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EXECUTIVE SUMMARY
OFFERING SUMMARY
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES
Countrywide Hr 8,000
Prologic Dist Svcs E LLC 2,093
Travelers Insurance 2,001
Baptist Hospital West 2,000
Rush Fitness Complex The 1,700
Shoneys of Knoxville Inc 1,300
Parkwest Medical Center 1,112
Follett Hgher Edcatn Group Inc 858
Acntv 782
Flying J Transportation LLC 763
Transforce Inc 700
Kellog 699
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2017 Estimate Pop 8,048 59,578 132,244
2017 Census Pop 7,801 56,575 124,738
2017 Estimate HH 3,686 26,511 55,479
2017 Census HH 3,581 25,196 52,295
Median HH Income $44,074 $61,135 $65,885
Per Capita Income $28,217 $35,917 $38,154
Average HH Income $61,596 $80,608 $90,752
UNIT MIX
NUMBEROF UNITS
UNIT TYPEAPPROX.SQUARE FEET
4 2BR 1.5 BA 1,100
4 Total 4,400
VITAL DATA
Price $300,000 CURRENT YEAR 1
Down Payment 25% / $75,000 CAP Rate 7.11% 11.72%
Loan Amount $225,000 GRM 9.19 8.54
Loan Type Proposed NewNet Operating Income
$21,330 $35,148
Interest Rate / Amortization 5.00% / 25 YearsNet Cash Flow After Debt Service
7.39% / $5,546 25.82% / $19,364
Price/Unit $75,000 Total Return 13.58% / $10,185 32.32% / $24,241
Price/SF $68.18
Number of Units 4
Rentable Square Feet 4,400
Number of Buildings 1
Number of Stories 2
Year Built 1998
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PARKTOP LANE APARTMENTS
OFFERING SUMMARY
▪ Current Cap Rate 7.11 Percent
▪ Projected Year One Cap Rate 11.72 Percent
▪ Current Cash-on-Cash 7.39 Percent
▪ Projected Year One Cash-on-Cash 25.82 Percent
INVESTMENT HIGHLIGHTS
Parktop Lane Apartments is situated in West Knoxville, Tennessee located just minutes from Interstate 40 and Interstate 75 for easy access. This investment is perfect for
the new investor or adding to your portfolio. Present rents are below market with opportunity of increased rents after first year. Townhomes are convenient to the well-
desired Cedar Bluff area and within one-and-a-half miles to major hospital and medical offices. Private and public schools are within a one-mile radius. Great opportunity!
Nearby:
Cedar Bluff Racquet Club - 0.5 Miles
Knoxville Catholic High School - 0.4 Miles
Cedar Bluff Middle School - 1.5 Miles
Parkwest Hospital - 1.5 Miles
Lincoln Memorial University – 1.0 Mile
Restaurants and Lodging Also Within 1.0 Mile Radius
INVESTMENT OVERVIEW
6
PARKTOP LANE APARTMENTS
#
OFFERING SUMMARY
PROPERTY OVERVIEW
Parktop Lane Apartments is located in Knoxville, Tennessee and presents as a
fourplex property with eight bedrooms, eight bathrooms and approximately 3,960
square feet of living space with cedar siding. Each unit consisting of a two-
bedroom/one-and-one-half-bath townhome with 1,100 square feet. Tenants pay
for electric and water. Each unit has washer and dryer hookups, range,
dishwasher, microwave, private patio, storage and fenced yard. Property is well
maintained with stable tenants.
7
▪ Minutes to Interstate 40 and 75
Common Area Amenities
▪ Range
Unit Amenities
▪ Dishwasher
▪ Microwave
▪ Private Patio
▪ Washer and Dryer Hookups
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PARKTOP LANE APARTMENTS
PROPERTY SUMMARY
OFFERING SUMMARY
PROPOSED FINANCING
First Trust Deed
Loan Amount $225,000
Loan Type Proposed New
Interest Rate 5.00%
Amortization 25 Years
Loan Term 25 Years
Loan to Value 75%
Debt Coverage Ratio 1.35
THE OFFERING
Property Parktop Lane Apartments
Price $300,000
Property Address 9109 Parktop Lane, Knoxville, TN
Assessors Parcel Number 119G C 004
SITE DESCRIPTION
Number of Units 4
Number of Buildings 1
Number of Stories 2
Year Built/Renovated 1982
Rentable Square Feet 3960
Lot Size 0.30
Type of Ownership Fee Simple
UTILITIES
Water Utility
Electric Electric
8
REGIONAL MAP
PARKTOP LANE APARTMENTS
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10
LOCAL MAP
PARKTOP LANE APARTMENTS
AERIAL PHOTO
PARKTOP LANE APARTMENTS
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PARKTOP LANE APARTMENTS
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FINANCIAL
ANALYSIS
FINANCIAL ANALYSIS
PARKTOP LANE APARTMENTS
RENT ROLL SUMMARY
13
FINANCIAL ANALYSIS
PARKTOP LANE APARTMENTS
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RENT ROLL DETAIL
FINANCIAL ANALYSIS
PARKTOP LANE APARTMENTS
OPERATING STATEMENT
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FINANCIAL ANALYSIS
PARKTOP LANE APARTMENTS
PRICING DETAIL
16
MARCUS & MILLICHAP CAPITAL CORPORATION
CAPABILITIES
MMCC—our fully integrated, dedicated financing arm—is committed to
providing superior capital market expertise, precisely managed execution, and
unparalleled access to capital sources providing the most competitive rates and
terms.
We leverage our prominent capital market relationships with commercial banks,
life insurance companies, CMBS, private and public debt/equity funds, Fannie
Mae, Freddie Mac and HUD to provide our clients with the greatest range of
financing options.
Our dedicated, knowledgeable experts understand the challenges of financing
and work tirelessly to resolve all potential issues to the benefit of our clients.
National platform
operating
within the firm’s
brokerage
offices
$5.1 billion
total national
volume in 2016
Access to
more capital
sources than
any other firm
in the industry
Optimum financing solutions
to enhance value
Our ability to enhance
buyer pool by expanding
finance options
Our ability to enhance
seller control
• Through buyer
qualification support
• Our ability to manage buyers
finance expectations
• Ability to monitor and
manage buyer/lender
progress, insuring timely,
predictable closings
• By relying on a world class
set of debt/equity sources
and presenting a tightly
underwritten credit file
WHY MMCC?
Closed 1,651
debt and equity
financings
in 2016
ACQUISITION FINANCING
PARKTOP LANE APARTMENTS
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PARKTOP LANE APARTMENTS
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MARKET
COMPARABLES
8
PARKTOP LANE APARTMENTS
RENT COMPARABLES MAP
PARKTOP LANE APARTMENTS
(SUBJECT)
9100 Parktop Lane
9101 Parktop Lane
9105 Parktop Lane
4
7
8
9
11
20
12
14
15
16
17
13
18
10
1
2
3
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PROPERTY NAMEPARKTOP LANE APARTMENTS
RENT COMPARABLES
20
AVERAGE OCCUPANCY
Avg. 100.00%
0
10
20
30
40
50
60
70
80
90
100
Parktop
Lane
Apartments
9100
Parktop
Lane
9101
Parktop
Lane
9105
Parktop
Lane
PROPERTY NAMEPARKTOP LANE APARTMENTS
RENT COMPARABLES
21
AVERAGE RENT - MULTIFAMILY
Avg. $695
$0
$70
$140
$210
$280
$350
$420
$490
$560
$630
$700
Parktop
Lane
Apartments
9100
Parktop
Lane
9101
Parktop
Lane
9105
Parktop
Lane
2 Bedroom
PROPERTY NAME
MARKETING TEAM
PARKTOP LANE APARTMENTS
RENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
22
YEAR BUILT: 1998
rentpropertyname1
rentpropertyaddress1
Unit Type Units SF Rent Rent/SF
2BR 1.5 BA 4 1,100 $680 $0.62
Total/Avg. 4 1,100 $680 $0.62
PARKTOP LANE APARTMENTS9109 Parktop Lane, Knoxville, TN, 37923
OCCUPANCY: 100% | YEAR BUILT: 1982
1
NOTES
Refrigerator, Stove, Dishwasher, Washer/Dryer Hookups, Private Patio,
Unit Type Units SF Rent Rent/SF
2 Bdr 1.5 Bath Twnhs 4 1,075-1,075$695-$695
$0.65
Total/Avg. 4 1,075 $695 $0.65
9100 PARKTOP LANE9100 Parktop Lane, Knoxville, TN, 37923
2
OCCUPANCY: 100% | YEAR BUILT: 1982
NOTES
Refrigerator, Stove, Dishwasher, Washer/Dryer Hookups, Private Patio,
Unit Type Units SF Rent Rent/SF
2 Bdr 1.5 Bath Twnhs 4 1,075-1,075$695-$695
$0.65
Total/Avg. 4 1,075 $695 $0.65
9101 PARKTOP LANE9101 Parktop Lane, Knoxville, TN, 37923
PROPERTY NAME
MARKETING TEAM
PARKTOP LANE APARTMENTS
RENT COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
23
OCCUPANCY: 100% | YEAR BUILT: 1982
3
Unit Type Units SF Rent Rent/SF
2 Bdr 1.5 Bath Twnhs 4 1,075-1,075$695-$695
$0.65
Total/Avg. 4 1,075 $695 $0.65
NOTES
Refriderator, Stove, Dishwasher, Patio, Outside Storage
9105 PARKTOP LANE 9105 Parktop Lane, Knoxville, TN, 37923
PARKTOP LANE APARTMENTS
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MARKET
OVERVIEW
MARKET OVERVIEW
OVERVIEW
KNOXVILLE
The Knoxville metro area is in the eastern portion of Tennessee and is the
third largest after Nashville and Memphis. The city of Knoxville is the
county seat of Knox County. The metro consists of nine counties:
Anderson, Blount, Campbell, Grainger, Knox, Loudon, Morgan, Roane
and Union. The local metro economy centers primarily around economic
hubs created by the University of Tennessee and Great Smokey
Mountain tourism.
▪ Technology and research activities are also growing in the metro, with multiple National Science
Foundation-funded centers associated with the University of Tennessee. In addition, multiple
research and development firms are located in the Tennessee Technology Corridor.
▪ Diversification has brought major employers a variety of industries such as media and healthcare
with companies like Regal Entertainment Group, Scripps Networks Interaction and TeamHealth.
▪ While diversifying from its manufacturing roots into media and professional service jobs, the metro
still houses big manufacturing operations, including a Coca-Cola bottling plant and a Gerdau
Ameristeel plant.
DEMOGRAPHICS
40.5
2016MEDIAN AGE:
U.S. Median:
37.7
$46,100
2016 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$57,200
866K
2016POPULATION:
Growth2016-2021*:
4.1%
352K
2016HOUSEHOLDS:
4.6%
Growth2016-2021*:
ECONOMY
METRO HIGHLIGHTS
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
PARKTOP LANE APARTMENTS
HIGHER EDUCATION
The University of Tennessee has 28,000 students and 9,800 employees. It is
estimated the school has a $1.6 billion impact on the state’s economy.
INTERNATIONAL PORT
As an international port, it is connected to the nation’s inland waterways and
the Gulf of Mexico via channels on the Mississippi and Tennessee Rivers.
GREAT SMOKEY MOUNTAIN CULTURE
The Knoxville region has a strong arts community, contributing to bluegrass and
country music with bands such as Flatt & Scruggs and the Everly Brothers. In
nearby Pigeon Forge, the park Dollywood hosts 3 million tourists in a season.
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MARKET OVERVIEW
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PARKTOP LANE APARTMENTS
Job creation supporting housing demand in Tennessee metros; cyclical high in
development impacting local operations. Steady employment growth in the largest
Tennessee metros is expanding residential demand as these positions fill, prompting
a rise in apartment construction. The resulting supply increases will push deliveries to
a cycle high in 2017, particularly in Nashville and Memphis. Though net absorption of
new rentals over the past eight years has been positive, the resulting impacts from a
large surplus of supply are beginning to weigh heavily on local operations in Nashville
and Memphis as these new Class A luxury units open.
Rent growth driven by Class C offerings amid significant supply at the high end of the
marketplace. Amid the most robust pipelines in more than a decade, vacancy rates
are moving up across the board in Tennessee. While core submarkets in Nashville
have seen the sharpest increases, cyclical highs in development have strained a
broad swath of submarkets, limiting rental growth as operators deploy a greater
amount of incentives to lease up the new buildings. However, noncore submarkets
and more affordable offerings retain high levels of occupancy, allowing strong
increases in overall cash flows and capital returns.
New Supply Weighing on Vacancy;
Metro Performance Diverging Significantly
TENNESSEE METROS
* Cap rates trailing 12 months through 3Q17; 10-year Treasury rate through Oct. 20.
Sources: CoStar Group, Inc.; Real Capital Analytics
Investment Trends
Nashville
• Class B and C offerings in the $1 million to $10 million range will draw the
bulk of buyer activity, particularly for assets located near Downtown and the
University.
• Cap rates in the low-7 percent range will continue to encourage investors to
deploy capital to the metro, particularly properties in the Westside.
Memphis
• Value-add assets in Central Memphis will motivate investors looking for
sharp increases in rental rates.
• A broad spectrum of cap rates provide returns ranging from the low-6 to
high-10 percent range.
Knoxville
• A lack of listings is prompting a widespread approach to capital allocation.
The West End/CBD submarket is drawing the most attention, although
buyers are also pursuing properties in Southeast Nashville.
• Cap rates will begin in the high-6 percent return spectrum, pushing toward
the low-8 percent band for outlying and second-tier suburban locations.
Multifamily 2017 Outlook
Vacancy
Y-O-Y
BasisPoint
Change
MetroEffective
Rent
Y-O-Y
Change
Knoxville 3.8% 20 $890 10.7%
Memphis 6.6% 130 $810 1.4%
Nashville 6.9% 270 $1,155 4.6%
MARKET OVERVIEW
27
• During the past 12 months,
Knoxville organizations added
3,800 positions, detracted by the
professional and business
services sector, where 1,900
people were let go.
• Several sectors added to
payrolls, led by the education and
healthcare subset, where 1,800
jobs were added. Unemployment
in the metro has sunk to 3.2
percent, the lowest rate since
2007.
EMPLOYMENT
• Over the last four quarters,
builders slowed the pace of
construction from more than
1,200 rentals to 835 units.
Completions were focused on
the Downtown/University/South
Knoxville and West Knoxville
submarkets.
• An additional 600 apartments will
be delivered by year end.
Aventine Northshore in
Southwest Knoxville is the
largest project at 246 units.
CONSTRUCTION
• Despite a slower pace of
construction, this year’s weak
net absorption pushed the
vacancy rate up 10 basis points
to 3.8 percent.
• Submarket performance was
mixed. North Knoxville remained
extremely tight at 1.8 percent.
Meanwhile, the
Downtown/University/South
Knoxville submarket’s vacancy
rate increased 60 basis points to
5 percent.
VACANCY
• Powered by an 18 percent gain
in the
Downtown/University/South
Knoxville submarket to $1,140
per month, the overall metro
average effective rent recorded
a 7.9 percent climb to $890 per
month.
• All four submarkets generated
an advancement of 3 percent or
higher. The Southwest Knoxville
submarket recorded a 4 percent
rise to $839 per month.
RENTS
TENNESSEE METROS: KNOXVILLE
increase in effective
rents Y-O-Y7.9%basis point increase in
vacancy Y-O-Y10units completed
Y-O-Y835decrease in total
employment Y-O-Y1%
* Forecast
PARKTOP LANE APARTMENTS
3Q17 – 12-Month Period
MARKET OVERVIEW
28
Sharp Decline in Activity Amid a Lack of Listings as Prices Escalate
Outlook: Higher relative rates of return
compared with larger Tennessee markets
and East Coast metros may draw
investors to the market.
Vacancy
Rate
Y-O-Y
BasisPoint
Change
SubmarketEffective
Rent
Y-O-Y%
Change
North Knoxville 1.8% -80 $728 3.0%
Southwest Knoxville 4.0% 60 $839 4.0%
West Knoxville 4.3% 0 $873 6.6%
Downtown/University/S
outh Knoxville5.0% 60 $1,140 18.0%
Overall Metro 3.8% 10 $877 7.9%
Submarket Trends
Lowest Vacancy Rates 3Q17
Sales Trends
TENNESSEE METROS: KNOXVILLE
• Transaction volumes were incredibly light over the past year, driven by a lack of
listings and opportunities to deploy capital. Prices per unit reached the high-$60,000
per door band.
• Cap rates approached the low-8 percent range, providing investors with stable cash
flows. Assets in the Westside and Northside drew the most attention from buyers
when assets were listed.
* Trailing 12 months through 3Q17
Pricing trend sources: CoStar Group, Inc.; Real Capital Analytics
PARKTOP LANE APARTMENTS
* 2017-2022 **2016
PROPERTY NAME
MARKETING TEAM
PARKTOP LANE APARTMENTS
DEMOGRAPHICS
Source: © 2017 Experian
Created on March 2018
POPULATION 1 Miles 3 Miles 5 Miles
▪ 2022 Projection
Total Population 8,313 63,491 141,421
▪ 2017 Estimate
Total Population 8,048 59,578 132,244
▪ 2010 Census
Total Population 7,801 56,575 124,738
▪ 2000 Census
Total Population 8,177 49,625 106,561
▪ Daytime Population
2017 Estimate 16,022 76,909 167,772
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
▪ 2022 Projection
Total Households 3,812 28,424 59,673
▪ 2017 Estimate
Total Households 3,686 26,511 55,479
Average (Mean) Household Size 2.10 2.25 2.38
▪ 2010 Census
Total Households 3,581 25,196 52,295
▪ 2000 Census
Total Households 3,647 21,805 44,170
Growth 2015-2020 3.42% 7.22% 7.56%
HOUSING UNITS 1 Miles 3 Miles 5 Miles
▪ Occupied Units
2022 Projection 3,812 28,424 59,673
2017 Estimate 4,087 28,264 58,725
Owner Occupied 1,130 15,158 36,262
Renter Occupied 2,556 11,353 19,217
Vacant 400 1,753 3,245
▪ Persons In Units
2017 Estimate Total Occupied Units 3,686 26,511 55,479
1 Person Units 39.28% 33.21% 28.70%
2 Person Units 33.91% 35.14% 35.56%
3 Person Units 13.19% 14.69% 15.83%
4 Person Units 8.41% 10.98% 12.97%
5 Person Units 3.36% 4.05% 4.70%
6+ Person Units 1.90% 1.94% 2.22%
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
▪ 2017 Estimate
$200,000 or More 2.82% 4.78% 6.47%
$150,000 - $199,000 2.90% 5.02% 5.92%
$100,000 - $149,000 8.38% 14.56% 16.02%
$75,000 - $99,999 11.19% 15.11% 15.10%
$50,000 - $74,999 17.63% 19.48% 18.84%
$35,000 - $49,999 17.82% 13.08% 12.47%
$25,000 - $34,999 13.28% 9.06% 8.31%
$15,000 - $24,999 14.76% 9.33% 8.43%
Under $15,000 11.23% 9.56% 8.45%
Average Household Income $61,596 $80,608 $90,752
Median Household Income $44,074 $61,135 $65,885
Per Capita Income $28,217 $35,917 $38,154
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
▪ Population By Age
2017 Estimate Total Population 8,048 59,578 132,244
Under 20 20.33% 22.62% 24.35%
20 to 34 Years 32.45% 24.42% 21.74%
35 to 39 Years 7.24% 7.19% 7.05%
40 to 49 Years 11.49% 12.80% 13.42%
50 to 64 Years 15.33% 18.08% 19.33%
Age 65+ 13.13% 14.86% 14.11%
Median Age 33.44 36.97 37.74
▪ Population 25+ by Education Level
2017 Estimate Population Age 25+ 5,580 41,713 91,098
Elementary (0-8) 2.42% 1.90% 1.71%
Some High School (9-11) 2.13% 2.90% 3.38%
High School Graduate (12) 17.57% 16.90% 17.83%
Some College (13-15) 22.48% 19.47% 19.44%
Associate Degree Only 7.43% 8.00% 7.59%
Bachelors Degree Only 28.14% 29.76% 29.08%
Graduate Degree 19.41% 20.27% 20.36%
▪ Population by Gender
2017 Estimate Total Population 8,048 59,578 132,244
Male Population 50.56% 48.34% 48.50%
Female Population 49.44% 51.66% 51.50%
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Income
In 2017, the median household income for your selected geography is
$44,074, compare this to the US average which is currently $56,286.
The median household income for your area has changed by 14.68%
since 2000. It is estimated that the median household income in your
area will be $50,143 five years from now, which represents a change
of 13.77% from the current year.
The current year per capita income in your area is $28,217, compare
this to the US average, which is $30,982. The current year average
household income in your area is $61,596, compare this to the US
average which is $81,217.
Population
In 2017, the population in your selected geography is 8,048. The
population has changed by -1.58% since 2000. It is estimated that
the population in your area will be 8,313.00 five years from now,
which represents a change of 3.29% from the current year. The
current population is 50.56% male and 49.44% female. The median
age of the population in your area is 33.44, compare this to the US
average which is 37.83. The population density in your area is
2,560.19 people per square mile.
Households
There are currently 3,686 households in your selected geography. The
number of households has changed by 1.07% since 2000. It is
estimated that the number of households in your area will be 3,812
five years from now, which represents a change of 3.42% from the
current year. The average household size in your area is 2.10 persons.
Employment
In 2017, there are 8,578 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
71.51% of employees are employed in white-collar occupations in
this geography, and 27.96% are employed in blue-collar occupations.
In 2017, unemployment in this area is 4.86%. In 2000, the average
time traveled to work was 20.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
77.00% White, 8.62% Black, 0.01% Native American and 6.33%
Asian/Pacific Islander. Compare these to US averages which are:
70.42% White, 12.85% Black, 0.19% Native American and 5.53%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 7.88% of the current year
population in your selected area. Compare this to the US average of
17.88%.
PROPERTY NAME
MARKETING TEAM
PARKTOP LANE APARTMENTS
Housing
The median housing value in your area was $180,802 in 2017,
compare this to the US average of $193,953. In 2000, there were
1,421 owner occupied housing units in your area and there were
2,226 renter occupied housing units in your area. The median rent at
the time was $533.
Source: © 2017 Experian
DEMOGRAPHICS
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PARKTOP LANE APARTMENTS
DEMOGRAPHICS
31
www.MarcusMillichap.com
Gloria Gregory
Senior Associate
Member - National Multi Housing Group
Knoxville Office
Tel: (865) 299-6276
Fax: (865) 299-6310
License: TN 245345
P R E S E N T E D B Y