Triplex with Cottage-Style
For Sale
$349,900
Pending
2305&2303 Abbott Drive, Johnson City, TN 37601
MULTI_FAMILY - Cottage - Johnson City, TN
Property Size2,064 SF
Days on Market120
Property Features for 2305&2303 Abbott Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R 2 / R 3
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 3, Basement, Bedroom 2, Bathroom 2, Bedroom 5
Parking features
Driveway, Carport
Interior features
Eat-in Kitchen
Appliances
Dishwasher, Electric Range, Refrigerator
Subdivision
Not Listed
Elementary school
Mountain View
Middle school
Indian Trail
High school
Science Hill
Directions
From Milligan Highway, to right on Swadley road to right on Abbott Drive. End of cul-de-sac.
Standard status
Pending
APN
055g A 02505 000
Size
2,064 SF
Taxes and HOA fees
Tax Annual Amount
709
Utilities
Sewer type
Public Sewer
Heating system
Central, Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Number of units
3
Flooring type
Plank, Vinyl
Building materials
Block, Vinyl Siding
Roof type
Metal
Architectural style
Cottage
Listing Agency:
Arbella Properties Gville
(423) 446-8154
Listed By:
Rebecca Rideout · License #330499
(423) 631-6196
Added: Apr 7
Changed: Aug 3
Last Checked: Aug 4 at 6:06AM
MLS# 9993501
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.
Investment Insights
Based on property information with market context.
This triplex property includes three rental units: a duplex lower unit with two bedrooms and one bathroom and a recently renovated interior, an upper unit with two bedrooms and one bathroom, and a cottage efficiency unit with one bedroom and one bathroom. The lower duplex unit has split unit heating and cooling, while the property also includes heat pump heating and central air. Interiors feature an eat-in kitchen, with vinyl and plank flooring throughout. Appliances include a dishwasher, electric range, and refrigerator.
Construction materials are block with vinyl siding, and the roof is metal. Parking includes a driveway and a carport for the cottage-style unit. The property uses public water and public sewer, and it was built in 1965.
Zoned R-2/R-3, this is a three-unit opportunity for investors or “house hackers.” All showings require 24 hours’ notice.
Construction materials are block with vinyl siding, and the roof is metal. Parking includes a driveway and a carport for the cottage-style unit. The property uses public water and public sewer, and it was built in 1965.
Zoned R-2/R-3, this is a three-unit opportunity for investors or “house hackers.” All showings require 24 hours’ notice.
Key Highlights
- Triplex with three units: duplex lower (2 bed/1 bath) plus upper (2 bed/1 bath) and a cottage efficiency (1 bed/1 bath)
- Lower duplex unit was recently renovated and uses split unit heating/cooling
- Heat pump heating and central air
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.1k | $9.72 |
| − Vacancy | −$1.3k | −$0.64 |
| EGI | $18.7k | $9.08 |
| − OpEx | −$5.6k | −$2.73 |
| NOI | $13.1k | $6.36 |
2,064 SF · lease $9.72/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$187.5K
$164.1K – $218.7K
NOI $13,124 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$166.7K
$145.9K – $194.5K
NOI $11,668 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$870.4K
$761.6K – $1.02M
NOI $60,929 @ 7.0% cap · market cap 17.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Explore this area
Business Placement
Demographics for 37601, TN
37,079
Population
18,153
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
47.7 sq mi
ZIP Area
777
Density / Sq Mi
$49,658
Median Household Income
$32,312
Median Earnings
$892
Median Rent
$187,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex includes a cottage efficiency unit with a carport and public utilities, zoned R-2/R-3.
Where is this triplex located?
The property is located at 2305&2303 Abbott Drive Johnson City, TN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Triplex with three units: duplex lower (2 bed/1 bath) plus upper (2 bed/1 bath) and a cottage efficiency (1 bed/1 bath); Lower duplex unit was recently renovated and uses split unit heating/cooling; Heat pump heating and central air
