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    621 Mcarthur Ave Elizabethton, TN 37643

    Sponsored
    For Sale
    $565,000

    MULTI_FAMILY - Other - Elizabethton, TN

    Property size:
    4,456 SF
    Lot size:
    0.28 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 1 at 6:06 am

    Property Features for 621 Mcarthur Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Double Pane Windows
    Zoning
    R2
    Rooms
    Bedroom 5, Bathroom 1, Bedroom 6, Dining Room, Bedroom 3, Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 7, Bathroom 3
    Bedrooms
    7
    APN
    041h B 011.00
    Patio and Porch features
    Porch
    Interior features
    Eat-in Kitchen, Kitchen/Dining Combo, Remodeled, Restored
    Exterior features
    Balcony
    Fireplace
    1
    Appliances
    Microwave, Refrigerator, Washer
    Size
    4,456 SF
    Lot size
    0.28 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl, Hardwood
    Building materials
    Vinyl Siding, Wood Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Olivia Dorrance

    Hurd Realty (423) 491-8335

    Listing agent Olivia Sharitz (617) 596-1383 License #372482

    Listing date Jan 25, 2026

    MLS# 9986184 Listing URL

    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

    Property Insight Report

    Overview

    Restored Multifamily Home with Upgrades

    This restored home offers a combination of historic character and modern upgrades in a location within walking distance to city schools, parks, and downtown. It is suited for a large family or those seeking a private in-law suite. The property features new plumbing, electrical, and premium finishes. The roof is less than 2 years old, and the windows are less than 1 year old. Fresh paint has been applied upstairs and downstairs, along with new siding and landscaping. Restored original materials include brick, stone, and hardwoods. The main level includes 3 bedrooms, one bathroom, kitchen and dining area with 2-car garage access. The open concept kitchen and dining area features stainless steel appliances and an 8-person dining room table. The hardwoods are original and newly refinished. The main level has its own HVAC system that is approximately 5 years old. There is a fenced-in yard with a hot tub, two new gas fireplaces, and a half wrap-around porch with private entrance. A separate laundry room and mud room are included. Upstairs has updated premium finishes, 4 bedrooms and two bathrooms with an eat-in kitchen, a rooftop deck, and a private entrance. The upstairs has a separate HVAC system that is approximately 10 years old. The hardwoods are original and newly refinished. Stainless steel appliances and a separate laundry room are included. The property, located in Elizabethton, TN, has parking for 4+ cars in addition to the garage and sits on a 0.28-acre lot. The property has 4456 square feet of living space and is zoned R2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethton
    County
    Carter
    State
    Tennessee
    Longitude
    -82.233341
    Latitude
    36.350082

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    FAQs

    What type of property is this?
    Duplex - Restored home with modern upgrades, ideal for large family.
    Where is this duplex located?
    The property is located at 621 Mcarthur Ave Elizabethton, TN.
    What is the asking price?
    The asking price for this property is $565,000.
    What are key features of this property?
    This property features: - Potential for multifamily use with complete infrastructure.; - **Premium location:** walking distance to city schools, parks, and downtown.; - **Restored historic character with modern upgrades** (new plumbing, electrical, premium finishes).
    (617) 596-1383
    Request Owner's contact information
    621 Mcarthur Ave 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
    621 Mcarthur Ave Elizabethton, TN 37643
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    We can help!
    Listing Contact
    Olivia Dorrance
    Real Estate License ID: 372482
    (617) 596-1383
    Learn more
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