Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Multi Family

Sub Type: Multi Family

MLS Number: 9987881

Lot Acreage: 8.56000

Living Area: 0

Year Built:2023

Elementary School: Jefferson

Middle School: Robinson

High School: Dobyns Bennett

Public Remarks: *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.

Listing Courtesy:Property Executives Johnson City

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