Remodeled
For Sale
$229,900
253 Harr Town Road, Blountville, TN 37617
Multi Family, Blountville, TN
Property Size3,024 SF
Lot Size0.18 Acres
Price / SF$76.03
Days on Market94
Property Features for 253 Harr Town Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
B 1 / R 1
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4, Dining Room
Parking features
Carport
Window features
Double Pane Windows
Patio and Porch features
Deck
Interior features
Granite Counters, Kitchen Island, Kitchen/Dining Combo, Open Floorplan, Remodeled
Exterior features
Balcony
Appliances
Dishwasher, Electric Range, Microwave, Refrigerator
Elementary school
Indian Springs
Middle school
Sullivan Central Middle
High school
West Ridge
Directions
From Kingsport take Memorial Blvd to left on Harr Town Rd. Duplex on the corner of Harr Town and Island Rd. OR take I81 to exit 66 towards Kingsport then right on Harr Town. GPS friendly.
Standard status
Active
APN
049 00200 000
Size
3,024 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
1421
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Heat Pump (Heating), Baseboard
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1943
Floors in Building
2
Number of units
2
Flooring type
Laminate, Vinyl, Carpet, Parquet Wood
Building materials
Vinyl Siding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
North East Tennessee Real Estate, LLC
(423) 282-1050
Listed By:
Richard Banks · License #255057
(423) 791-2426
Added: Jun 12
Changed: Sep 13
Last Checked: Sep 13 at 6:06AM
MLS# 9996816
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 3,024-square-foot duplex sits on a 0.18-acre parcel and was built in 1943. The property is fully occupied, with two long-term tenants who wish to remain. Interior features include remodeled spaces, granite counters, kitchen islands, open floorplans, and kitchen-dining combinations. Vinyl siding, vinyl and laminate flooring, heat-pump systems, central air, and electric heating support practical day-to-day operation. Each residence is served by a carport, with a deck and balcony among the exterior features.
The property is located at 253 Harr Town Road in Blountville, outside Kingsport and near Interstate 81. It is zoned B 1 / R 1, with public water and septic service. Appliances include dishwashers, electric ranges, microwaves, and refrigerators.
The property is located at 253 Harr Town Road in Blountville, outside Kingsport and near Interstate 81. It is zoned B 1 / R 1, with public water and septic service. Appliances include dishwashers, electric ranges, microwaves, and refrigerators.
Key Highlights
- 3,024‑square‑foot duplex on 0.18 acres
- Fully occupied with two long‑term tenants who want to remain
- Remodeled interiors with granite counters and kitchen islands
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,124
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,480
$422.5K
Cap Rate 7%
$301,771
$301.8K
Cap Rate 9%
$234,711
$234.7K
Market Conditions
NOI Build-Up for 3,024 SF
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.
Gross rent
$40.6K $13.44/SF
− Vacancy
−$2.2K −$0.74/SF
EGI
$38.4K $12.70/SF
− OpEx
−$17.3K −$5.72/SF
NOI
$21.1K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,480
Cap Rate 7%
$301,771
Cap Rate 9%
$234,711
Alternative Uses
Best Use
Multifamily LT 5
$322.3K
$282.0K – $376.1K
NOI $22,563 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$301.8K
$264.1K – $352.1K
NOI $21,124 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$1.13M
$990.9K – $1.32M
NOI $79,270 @ 7.0% cap · market cap 34.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 37617, TN
14,422
Population
6,188
Households
2.3
Avg Household Size
47
Median Age
25%
College-Educated
87%
High-School Grad
58.4 sq mi
ZIP Area
247
Density / Sq Mi
$65,069
Median Household Income
$36,906
Median Earnings
$841
Median Rent
$225,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with durable finishes, long-term tenants, and carport parking.
Where is this duplex located?
The property is located at 253 Harr Town Road Blountville, TN.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 3,024‑square‑foot duplex on 0.18 acres; Fully occupied with two long‑term tenants who want to remain; Remodeled interiors with granite counters and kitchen islands
