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    The Largest CRE Database in the US with Over 1 Million Listings

    Johnson City, TN 37604

    Sponsored
    For Sale
    $174,900

    MULTI_FAMILY - Johnson City, TN

    Property size:
    1,640 SF
    Lot size:
    1.03 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 9 at 7:06 am

    Property Features for

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B4/R4
    Rooms
    Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 4
    Bedrooms
    5
    Size
    1,640 SF
    Lot size
    1.03 Acres

    Utilities

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

    Building Details

    Year built
    1997
    Number of units
    5
    Building materials
    Aluminum Siding, Metal Siding

    We can help!

    Listing Contact
    DeAnna Jilton

    Centruy 21 Pro Service (423) 282-1885

    Listing agent DeAnna Jilton (423) 282-1885 License #286515

    Listing date Feb 9, 2026

    MLS# 9990980

    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

    Mobile Home Park Investment Opportunity

    This is an investment opportunity to own a mobile home park featuring a total of 6 lots. Five lots are occupied, and one lot is vacant and ready for an income-producing mobile home. All lots have individual electric, water, sewer, and trash meters, as well as mailboxes. The owners are responsible for their own lawn mowing. All utilities are underground. Lots 7 and 8 are owned by the property owner and included in the sale. These lots are occupied by long-term tenants and generate $1,675.00 in monthly rental income. The trailers on lots 7 and 8 have been refurbished, with new Trex decking and new metal underpinning on lot 8. Lots 1, 2, and 4 are individually owned and pay a lot rent of $150.00 each per month, totaling $450.00. Trailer rent and lot rent generate a total monthly income of $2,125.00. Lot 6 is vacant, presenting an opportunity to increase income potential. A new paved parking lot was installed in 2022 and resealed in 2025. The property is located just off W Market St, in the heart of Johnson City, close to ETSU, JCMC, and VAMC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Johnson City
    County
    Washington
    State
    Tennessee
    Longitude
    -82.3846
    Latitude
    36.2975

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    FAQs

    What type of property is this?
    Mobile home & RV park - Mobile home park with six lots near ETSU and JCMC.
    Where is this mobile home & rv park located?
    The property is located at Johnson City, TN.
    What is the asking price?
    The asking price for this property is $174,900.
    What are key features of this property?
    This property features: - Income-producing mobile home park with 5 of 6 lots currently occupied, generating immediate revenue.; - Includes ownership of two mobile homes (Lots 7 & 8) with long-term tenants, providing $1,675 monthly rental income.; - Individual utility meters (electric, water/sewer/trash) for each lot, simplifying billing and expense management.
    (423) 282-1885
    Request Owner's contact information
    Johnson City, TN 37604
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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
    Johnson City, TN 37604
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    We can help!
    Listing Contact
    DeAnna Jilton
    Real Estate License ID: 286515
    (423) 282-1885
    Learn more
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