Property Description

Listing Status

• More Listing Info

  AC:Central Air	true
  Amenities:Landscaping	true
  Appliances:Electric Range	true
  Appliances:Refrigerator	true
  Basement:Concrete3	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Exterior Finish:Block5	true
  Exterior Finish:Masonite	true
  Exterior Finish:Vinyl Siding	true
  Flooring:Carpet	true
  Flooring:Luxury Vinyl	true
  Foundation:Block6	true
  General Property Description:# Buildings	2
  General Property Description:# Fireplaces	1
  General Property Description:# of Units	2.0
  General Property Description:Acres	0.34
  General Property Description:Elementary School3	Fairmount
  General Property Description:High School3	Tennessee
  General Property Description:HOA YN	No
  General Property Description:Lot Dimensions	100 X 150
  General Property Description:Middle School2	Vance
  General Property Description:Stories2	2
  General Property Description:Total Units	2
  General Property Description:Zoning2	Residential
  Heating:Central	true
  Info Available:Floor Plan	true
  Info Available:Rental Rolls	true
  Interior Features:Built-in Features	true
  Interior Features:Remodeled	true
  Interior Features:Restored	true
  Levels:Two	true
  Location Tax Legal Info:Block	37
  Location Tax Legal Info:City Taxes	382.5
  Location Tax Legal Info:County Taxes	424.35
  Location Tax Legal Info:Deed Book #	3618
  Location Tax Legal Info:Deed Page #	2024
  Location Tax Legal Info:Lot #	25
  Other Rooms:Laundry	true
  Other Rooms:Primary Bathroom	true
  Other Rooms:Primary Bedroom	true
  Parking Features:Asphalt2	true
  PorchPatioDeck:Front Porch	true
  PorchPatioDeck:Rear Porch	true
  Property Condition:Above Average	true
  Property Condition:UpdatedRemodeled	true
  Remarks Misc:Directions3	Turn left onto Hwy 11 E Keep left to continue on US-11E N/Hwy 11 E Take the TN-394 exit toward TN-390/Bluff City/Blountville/Bristol Dragway Turn right onto TN-394 E (signs for Bluff City/TN-390 S) Turn left onto Carl Moore Pkwy Continue onto Virginia Ave
  Remarks Misc:Public Remarks2	This turn-key multifamily property features two beautifully renovated spaces, offering a fantastic investment opportunity in a desirable location. The main home, a 1939 bungalow, boasts timeless appeal with modern touches. Enjoy open-concept living with a brick fireplace, new flooring, and a stunning kitchen with stainless-steel appliances and butcher block countertops. Three bedrooms, including a primary suite with en suite bath, offer comfortable living. Two covered porches provide breathtaking city views. The guest house, situated behind the main home, is a spacious retreat with a large garage, full kitchen, and two bedrooms. Additional features include: Renovated full bath New appliances and fixtures throughout New carpet in bedrooms Spacious living room Recent updates include a new roof, HVAC, and electrical system, minimizing future maintenance for the new owner. Financial Highlights: Annual Revenue: $32,400 ($1,500 x 12 for the front unit + $1,200 x 12 for the rear unit) Monthly Revenue: $2,700 Expenses: Insurance: $600 annually Taxes: $700 annually Maintenance: $1,620 (5% of annual revenue) Total: $2,920 annually Assumptions: 5% vacancy rate factored into revenue calculations Tenants cover utilities (electric, water, and trash) Cap Rate: 7%, indicating a desirable return for the area Valuation: Based on the 7% cap rate, the property is valued at approximately $400,000 Located just minutes from downtown Bristol, with easy access to King University, the Paramount Center for the Arts, and Steele Creek Park. Both units are on one-year leases, providing a stable income stream for the new owner.
  Roof:Shingle	true
  Sewer:Public Sewer	true
  Showing Instructions:Showing Service	true
  Structure Type:House	true
  Structure Type:Multi Family	true
  Style:Bungalow2	true
  Style:See Remarks40	true
  TopographyLot Description:Rolling Slope	true
  Unit 1:# Bathrooms5	1.0
  Unit 1:# Bedrooms3	3
  Unit 1:# Units	1
  Unit 1:Monthly Rent	1500
  Unit 1:SqFt6	1728
  Unit 2:# Bathrooms4	1.0
  Unit 2:# Bedrooms4	2
  Unit 2:# Units2	1
  Unit 2:Monthly Rent2	1200
  Unit 2:SqFt5	1050
  Utilities:Electricity Connected	true
  Utilities:Sewer Connected	true
  Utilities:Water Connected	true
  Walls:Drywall	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

Listing Courtesy: