Property Description

Listing Status

• More Listing Info

  AC:Ceiling Fan(s)	true
  AC:Heat Pump3	true
  Amenities:Landscaping	true
  Appliances:Dishwasher	true
  Appliances:Disposal	true
  Appliances:Electric Range	true
  Appliances:Microwave	true
  Appliances:Refrigerator	true
  Community Features:Curbs	true
  Community Features:Sidewalk	true
  Community Features:Street Lights2	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Expenses Include:Lawn Maint	true
  Expenses Include:Other40	true
  Expenses Include:Payroll	true
  Expenses Include:Property Management	true
  Expenses Include:Repairs and Maint	true
  Expenses Include:Taxes Real Estate	true
  Exterior Finish:Brick4	true
  Exterior Finish:Vinyl Siding	true
  Flooring:Luxury Vinyl	true
  Foundation:Slab	true
  Garage:Garage Spaces	2
  General Property Description:# Buildings	40
  General Property Description:# of Units	40.0
  General Property Description:Acres	8.56
  General Property Description:Elementary School3	Jefferson
  General Property Description:High School3	Dobyns Bennett
  General Property Description:HOA YN	No
  General Property Description:Home Warranty2	No
  General Property Description:Lot Dimensions	0
  General Property Description:Middle School2	Robinson
  General Property Description:Senior Community YN3	No
  General Property Description:Total Units	40
  General Property Description:Zoning2	Residential
  Heating:Heat Pump2	true
  Income and Expenses:Annual Operating Expenses	260218
  Income and Expenses:Gross Annual Income	1075020
  Income and Expenses:Net Annual Income	814802
  Income and Expenses:Vacancy Rate %	5.0
  Info Available:Floor Plan	true
  Info Available:Leases2	true
  Info Available:Plat	true
  Info Available:ProfitLoss Statement	true
  Info Available:Rental Rolls	true
  Info Available:Survey2	true
  Interior Features:Entrance Foyer	true
  Interior Features:Granite Counters	true
  Interior Features:KitchenDining Combo	true
  Interior Features:Open Floorplan	true
  Interior Features:Pantry	true
  Interior Features:Primary Downstairs	true
  Interior Features:Walk-In Closet(s)	true
  Laundry Features:Electric Dryer Hookup	true
  Laundry Features:Washer Hookup	true
  Levels:One	true
  Levels:Two	true
  Location Tax Legal Info:City Taxes	52449.0
  Location Tax Legal Info:County Taxes	52828.0
  Other Rooms:Laundry	true
  Other Rooms:Mud Room	true
  Other Rooms:Primary Bathroom	true
  Other Rooms:Primary Bedroom	true
  Other Rooms:Sitting	true
  Parking Features:Attached	true
  Parking Features:Concrete2	true
  Parking Features:Driveway	true
  Parking Features:Garage Door Opener	true
  PorchPatioDeck:Covered	true
  PorchPatioDeck:Front Porch	true
  PorchPatioDeck:Rear Patio	true
  Property Condition:Above Average	true
  Remarks Misc:Directions3	From Ft. Henry Mall, take Memorial Blvd to Conway Dr. Turn Right on Conway and follow to the top at the intersection of Hillrise Dr. On the Right you will see The Settlement at Frylee Ct.
  Remarks Misc:Public Remarks7	*40 UNIT- NEWER CONSTRUCTION, SINGLE FAMILY DETACHED RENTAL HOME COMMUNITY FOR SALE! * The Settlement at Frylee Court represents a rare opportunity to acquire a fully stabilized, newly constructed single-family rental (SFR) community in the heart of Kingsport, Tennessee. Completed between 2023 and 2024, this high-quality portfolio consists of 40 SINGLE FAMILY-DETACHED homes averaging 1,520 square feet across three distinct floorplans. Designed for modern living, each residence features energy-efficient construction, contemporary finishes, and thoughtfully designed open layouts. The homes were developed with long-term durability and minimal maintenance in mind, resulting in operational efficiency and predictable performance for ownership. Currently maintaining 97.5%-100% occupancy with average monthly rents of $2,221, the community is fully stabilized and performing exceptionally well within the local rental market. Each home is platted on its own lot, providing investors with the flexibility to hold the portfolio for long-term cash flow or pursue a phased exit strategy through individual home sales. Investment Highlights •New Construction (2023-2024): Modern, energy-efficient homes designed to minimize maintenance and maximize tenant satisfaction. •Stabilized Performance: Consistent occupancy near 100% and a proven rent roll delivering a $814, 802 NOI and 6.08% cap rate. •Attractive Rent Growth: Projected annual rent increases of 5%, driven by strong demand for quality rental housing in Kingsport. •Luxury Appeal: Upscale design features including stainless steel appliances, premium flooring, spacious kitchens, and open-concept living spaces. •Prime Location: Centrally located in Kingsport City Limits, offering convenient access to major employers, shopping, dining, and top-rated schools. •Diversified Floorplans: Three different home layouts catering to a range of lifestyles, from young professionals to families and retirees. •Flexible Exit Strategy: Homes are individually platted, allowing for individual sales or bulk disposition to maximize investment return. •Strong Market Fundamentals: Kingsport's steady population growth, affordability, and employment stability support long-term investor confidence. Situated in the rapidly growing Tri-Cities region of Northeast Tennessee, Kingsport has emerged as a strong-performing rental market, driven by steady population growth, economic expansion, and limited supply of new single-family homes. The area benefits from proximity to major regional employers in healthcare, manufacturing, education, and logistics, including Eastman Chemical, Ballad Health, and the Kingsport City School District. The community's central location ensures short commute times to major employment hubs, while the surrounding infrastructure and established neighborhood appeal makeS Frylee Court an ideal choice for stable, long-term tenancy. As one of the only single-family rental home communities in the Tri-Cities Region, Frylee Court is positioned to outperform in occupancy and rent growth while maintaining operational stability. With its flexible ownership structure, strategic location, and enduring demand for high-quality housing, this community stands out as a premier investment opportunity in East Tennessee.
  Roof:Shingle	true
  Security Features:Carbon Monoxide Detector(s)	true
  Security Features:Smoke Detector(s)3	true
  Sewer:Public Sewer	true
  Structure Type:House	true
  Style:Ranch2	true
  Style:Traditional3	true
  TopographyLot Description:Cleared	true
  Unit 1:# Bathrooms5	2.0
  Unit 1:# Bedrooms3	3
  Unit 1:# Half Baths	1.0
  Unit 1:# Rooms4	7
  Unit 1:# Units	14
  Unit 1:SqFt6	1786
  Unit 2:# Bathrooms4	2.0
  Unit 2:# Bedrooms4	3
  Unit 2:# Rooms3	6
  Unit 2:# Units2	23
  Unit 2:SqFt5	1386
  Unit 3:# Bathrooms3	2.0
  Unit 3:# Bedrooms5	3
  Unit 3:# Rooms2	6
  Unit 3:# Units3	3
  Unit 3:SqFt2	1282
  Unit 4:# Units4	0
  Utilities:Cable Connected2	true
  Utilities:Electricity Connected	true
  Utilities:Sewer Connected	true
  Utilities:Underground Utilities2	true
  Utilities:Water Connected	true
  Walls:Drywall	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

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