Three Townhomes Sold as One
108 Melody Lane D-1 D-2 D-3 Bristol, TN 37620
New
108 Melody Lane D-1 D-2 D-3, Bristol, TN, 37620
$395,000
For Sale
$395,000
MULTI_FAMILY - Other - Bristol, TN
Property Size4,299 SF
Lot Size0.30 Acres
Price / SF$91.88
Days on Market1
Property Features for 108 Melody Lane D-1 D-2 D-3
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B 1B / R 3
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 5, Bathroom 6, Bedroom 3, Bathroom 5, Bathroom 3, Bedroom 4, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 2
- Patio and Porch features
- Patio
- Interior features
- Entrance Foyer, Laminate Counters, Open Floorplan, Remodeled
- Appliances
- Dishwasher, Electric Range, Microwave, Refrigerator
- Standard status
- Active
- APN
- 021e E 001.00
- Size
- 4,299 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2038
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Heat Pump (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1986
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Carpet, Hardwood, Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
- Additional Structures
- Storage
Listing Agency
The Addington Agency Bristol
(423) 845-5800
121 Bluff City Hwy, Bristol, TN
Listed by
Amy Booher · License #325828
(423) 967-4224
Added: Jul 16 Checked: Jul 16 at 10:06 pm
MLS# 9998279
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.
Investment Insights
Based on property information with market context.
For sale as a single portfolio, this property includes three deeded townhomes (D-1, D-2, and D-3) on one parcel in the Holston Villas community. Each unit offers approximately 2 bedrooms and 2 full bathrooms, with a primary en-suite and an open-concept living and dining area. Kitchens are functional, and both front and rear patios are included, along with a dedicated laundry/storage room off the bedroom and generous interior storage. Parking is one spot per unit plus overflow parking.
Recent owner-funded capital improvements include a new roof completed in 2024 and a complete renovation of Unit D-1. The parcel includes the corner of King College Road and Melody Lane, the upper parking area, and extends along the north side of the sidewalk. The property is described as being across the street from the new fire station and elementary school, with King University reachable by a short drive or bike ride.
The zoning is listed as B 1B / R 3. HOA dues are $180 per month for all three units and include snow removal, a shared dumpster, and grass cutting; current ownership maintains an independent insurance policy rather than participating in the HOA master policy. A maintenance history and additional financial documentation are available to qualified buyers upon request, along with a boundary survey.
Recent owner-funded capital improvements include a new roof completed in 2024 and a complete renovation of Unit D-1. The parcel includes the corner of King College Road and Melody Lane, the upper parking area, and extends along the north side of the sidewalk. The property is described as being across the street from the new fire station and elementary school, with King University reachable by a short drive or bike ride.
The zoning is listed as B 1B / R 3. HOA dues are $180 per month for all three units and include snow removal, a shared dumpster, and grass cutting; current ownership maintains an independent insurance policy rather than participating in the HOA master policy. A maintenance history and additional financial documentation are available to qualified buyers upon request, along with a boundary survey.
Key Highlights
- Three townhomes (D‑1, D‑2, D‑3) sold as one portfolio on one parcel in Holston Villas
- Each unit offers approximately 1,466+/- SF with 2 bedrooms and 2 full bathrooms, plus primary en‑suite
- Front and rear patios, plus a dedicated laundry/storage room located off the bedroom
Local 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 | $49.0k | $11.40 |
| − Vacancy | −$3.2k | −$0.74 |
| EGI | $45.8k | $10.66 |
| − OpEx | −$13.7k | −$3.20 |
| NOI | $32.1k | $7.46 |
4,299 SF · lease $11.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$458.2K
$401.0K – $534.6K
NOI $32,076 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$429.0K
$375.4K – $500.5K
NOI $30,030 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,693 @ 7.0% cap · market cap 28.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Stabilized portfolio of three deeded townhomes in Holston Villas, each with two bedrooms and patios.
Where is this triplex located?
The property is located at 108 Melody Lane D-1 D-2 D-3 Bristol, TN.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three townhomes (D‑1, D‑2, D‑3) sold as one portfolio on one parcel in Holston Villas; Each unit offers approximately 1,466+/- SF with 2 bedrooms and 2 full bathrooms, plus primary en‑suite; Front and rear patios, plus a dedicated laundry/storage room located off the bedroom
