2+ Bedroom First Time Buyer Homes for Sale in Knoxville, TN Under $400K
There are 11 homes for sale in Knoxville, TN, with 2 to 5 bedrooms, 1 to 3 bathrooms, and 858 to 2,726 square feet of living space. Displayed asking prices range from $215,000 to $389,000, and build years from 1899 to 2026. The largest, at 2400 Wilson Avenue, offers 5 bedrooms and 2,726 square feet for $389,000.
Fountain City sits north of downtown Knoxville, a long-established area of tree-lined streets and older frame homes near Fountain City Park and its lake. South Knoxville, across the Tennessee River from downtown, runs along Maryville Pike and Grandin Road, where bungalows and cottages sit on modest lots. East Knoxville, around the Fourth and Gill district, places older homes within a few minutes of the University of Tennessee campus.
Downtown Knoxville is usually a 10 to 20 minute drive from these neighborhoods, and Interstate 40 and I-640 provide routes to the University of Tennessee and Knox County job centers. Ijams Nature Center on the river in South Knoxville offers trails and paddling close to home. Buyers should compare school zones and flood maps before choosing.
Homes in this collection
12 homes
Your Property Journey
Interested in this, or something like it?
Submit an inquiry
Drop your details and we will help you find what you are looking for.
Not quite. Help me find the right one
Talk it through or type it out, whichever feels easiest.
Your contact details
An agent will reach out personally, no automated calls.
Smart Assistant
Hi, how can I help you find your dream home?
Tap the voice button to talk, or just start typing.
Tap anywhere to fix a word or add more
Tap stop when you’re done. You can edit the text before searching.
By submitting, you agree to our Privacy Policy and Terms.
Keep exploring
More collections in Tennessee
Good to know
Buying in Knoxville
The questions buyers ask us most about this collection.
Which Knoxville neighborhoods suit first-time buyers?
Fountain City, South Knoxville, and East Knoxville each have a different feel. Fountain City is more residential and established, while South Knoxville sits along the river with a mix of older cottages and bungalows. East Knoxville puts buyers close to the University of Tennessee and the Fourth and Gill district.
How far is downtown Knoxville from these neighborhoods?
Most of these neighborhoods are about a 10 to 20 minute drive from downtown Knoxville, depending on traffic and the route. Interstate 40 and I-640 make it easier to reach the University of Tennessee and job centers across Knox County. Commute times are worth testing at the hour you would actually drive.
Are older homes in Knoxville a good first purchase?
Many homes in these neighborhoods were built a century or more ago, which gives them character but also means systems may need attention. Buyers should have the foundation, roof, electrical panel, and sewer line inspected before closing. A thorough inspection helps separate cosmetic updates from work that could be costly later.
What should a first-time buyer check in a Knoxville condo?
Condo buyers should review the homeowners association documents, including the budget, reserve fund, and any planned special assessments. Ask about rules on rentals, parking, and exterior repairs, since these affect both lifestyle and resale. A lender can also confirm whether the complex meets financing requirements.
Is South Knoxville a good area for buyers who want river access?
South Knoxville sits along the Tennessee River, and Ijams Nature Center offers trails and paddling close by. Buyers who want water access should confirm flood zone status for any specific address before making an offer. Flood insurance requirements can change the monthly cost of ownership.
How should buyers research school zones in Knox County?
School assignments depend on exact street address, so buyers should check the current zone for each home directly with Knox County Schools. Boundaries can change over time, so a zone listed on a website may not reflect the latest assignment. Confirming the zone early helps avoid surprises during the search.