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    117-125 Ridgeview Dr Elizabethton, TN 37643

    View on Map
    Sponsored
    For Sale
    $749,000

    MULTI_FAMILY - Ranch - Elizabethton, TN

    Type:Single Family Residence
    Property size:
    2,880 SF
    Lot size:
    2.96 Acres
    Days on Market:
    11
    Last Refresh:
    Mar 17 at 3:06 am

    Property Features for 117-125 Ridgeview Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Window features
    Insulated Windows
    Zoning
    commercial
    Rooms
    Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 5, Bedroom 2, Bedroom 5
    Bedrooms
    5
    Bathrooms
    5
    APN
    028 007.06
    Patio and Porch features
    Porch
    Interior features
    Eat-in Kitchen, Open Floorplan
    Appliances
    Cooktop, Range, Refrigerator
    Size
    2,880 SF
    Lot size
    2.96 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating)
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    2020
    Floors in Building
    1
    Number of units
    5
    Flooring type
    Vinyl
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Lauren Clemson

    REALTY EXECUTIVES JOHNSON CITY (423) 952-0226

    Listing agent Lauren Clemson (423) 202-0960 License #338564

    Listing date Mar 6, 2026

    MLS# 9988336

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Cabins Investment Opportunity in Elizabethton

    This investment opportunity features five cabins situated on a 2.96-acre parcel. Each cabin offers 576 square feet of living space on one level, including one bedroom, one bathroom, and a large deck with mountain views. The property has potential for future building sites. The cabins share a water meter, electrical meter, and septic tank. All five cabins are currently leased on a month-to-month basis. While currently rented as long-term rentals, the property is also suitable for short-term rentals. The location in Elizabethton provides proximity to Watauga Lake, hiking trails, the Watauga River, and Roan Mountain, with a short drive to North Carolina skiing areas. The property is located at 117-125 Ridgeview Drive, Elizabethton, TN 37643. The total property size is 2880 square feet.
    Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Elizabethton
    County
    Carter
    State
    Tennessee
    Longitude
    -82.191614
    Latitude
    36.377666

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    FAQs

    What type of property is this?
    Single family property - Five cabins on 2.96 acres, potential for short-term rentals.
    Where is this single family property located?
    The property is located at 117-125 Ridgeview Dr Elizabethton, TN.
    What is the asking price?
    The asking price for this property is $749,000.
    What are key features of this property?
    This property features: - Five income-producing cabins on 2.96 acres for immediate investment returns; - Potential for expansion with future building sites; - Located near Watauga Lake, hiking trails, Watauga River, and Roan Mountain
    (423) 202-0960
    Request Owner's contact information
    117-125 Ridgeview Dr Elizabethton, TN 37643
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    Elizabethton, TN 37643
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    117-125 Ridgeview Dr Elizabethton, TN 37643
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    We can help!
    Listing Contact
    Lauren Clemson
    Real Estate License ID: 338564
    (423) 202-0960
    Learn more
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