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    1241 Virginia Ave Bristol, TN 37620

    Picture of Duplexes at Virginia Ave 1241, Bristol, TN
    Pending
    For Sale
    $359,900

    MULTI_FAMILY - Bungalow, Victorian - Bristol, TN

    Property size:
    2,778 SF
    Lot size:
    0.34 Acres
    Days on Market:
    40
    Last Refresh:
    Dec 5 at 2:06 am

    Property Features for 1241 Virginia Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    Residential
    Rooms
    Bathroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 1
    Bedrooms
    5
    APN
    021j F 009.00
    Patio and Porch features
    Porch, Patio
    Interior features
    Built-in Features, Remodeled, Restored
    Fireplace
    1
    Basement
    Concrete
    Appliances
    Electric Range, Refrigerator
    Size
    2,778 SF
    Lot size
    0.34 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1939
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl, Carpet
    Building materials
    Block, Masonite, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Bungalow, Victorian

    eXp Realty LLC (888) 519-5113 [email protected]

    Listing agent Cory Parsons (304) 674-3190 License #332530

    Listing date Oct 27, 2025

    Copyright © 2025 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.

    Overview

    Renovated Multifamily Property Near Downtown

    This multifamily property features two renovated spaces, presenting an investment opportunity in a desirable location. The main house, a 1939 bungalow, features modern touches. The property includes an open-concept living area with a brick fireplace, new flooring, and a kitchen with stainless-steel appliances and butcher block countertops. It offers three bedrooms, including a primary suite with an en suite bath, and two covered porches with city views. The guest house, located behind the main home, includes a large garage, a full kitchen, two bedrooms, a renovated full bath, new appliances and fixtures, new carpet in the bedrooms, and a spacious living room. Recent updates include a new roof, HVAC, and electrical system. The property generates an annual revenue of $32,400, with monthly revenue at $2,700. Annual expenses total $2,920, including insurance at $600, taxes at $700, and maintenance at $1,620. A 5% vacancy rate is factored into revenue calculations, and tenants cover utilities. The property is located minutes from downtown Bristol, with 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. The lot size is 0.34 acres and the property size is 2,778 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Sullivan
    State
    Tennessee
    Longitude
    -82.167757
    Latitude
    36.581543

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    FAQs

    What type of property is this?
    Duplex - Turn-key multifamily property with two renovated units and stable income.
    Where is this duplex located?
    The property is located at 1241 Virginia Ave Bristol, TN.
    What is the asking price?
    The asking price for this property is $359,900.
    What are key features of this property?
    This property features: - Turn-key multifamily property with two renovated units, providing immediate rental income.; - Desirable **7% cap rate**, indicating a strong return on investment.; - Recent updates including a new roof, HVAC, and electrical system, minimizing future maintenance costs.
    (304) 674-3190
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    Realmo Value Estimation

    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.

    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.

    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
    1241 Virginia Ave Bristol, TN 37620
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