Two-Unit Duplex with Private
New
For Sale
$325,000
1103 High Street, Johnson City, TN 37604
Multi Family, Johnson City, TN
Property Size1,790 SF
Lot Size0.17 Acres
Price / SF$181.56
Days on Market3
Property Features for 1103 High Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Commercial
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 2
Patio and Porch features
Porch
Appliances
Dishwasher, Electric Range, Refrigerator
Elementary school
Woodland Elementary
Middle school
Liberty Bell
High school
Science Hill
Directions
From Knob Creek Rd. take Skyline Drive to High Street. Turn left on to High street.
Standard status
Active
APN
045m H 00101 000
Size
1,790 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
1605
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
covered front porches
rear decks
Building Details
Year built
2005
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
The Elite Team Agency
(423) 656-0333
Listed By:
Michael Mansy · License #387498
(423) 426-4141
Added: Sep 22
Last Checked: Sep 24 at 4:06AM
MLS# 10001226
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 2005 duplex at 1103 High Street contains 1,790 square feet on a 0.17-acre lot. The property is divided into two residences, with each unit offering 2 bedrooms, 2 bathrooms, a private entrance, and dedicated outdoor space. Covered front porches, separate rear decks, paved parking, and additional yard area support everyday residential use. Interior features include dishwashers, electric ranges, and refrigerators, while heat pump systems provide heating and cooling with central air. The building has vinyl siding, a shingle roof, public water, and public sewer.
The property is in Johnson City, with access to shopping, dining, employment, schools, medical facilities, and major transportation corridors. Commercial zoning is identified for the site.
The property is in Johnson City, with access to shopping, dining, employment, schools, medical facilities, and major transportation corridors. Commercial zoning is identified for the site.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 bathrooms per unit
- 1,790 square feet on a 0.17‑acre lot
- Private entrance, covered front porch, and rear deck for each unit
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
$11,381
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
3.50%
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%
$227,620
$227.6K
Cap Rate 7%
$162,586
$162.6K
Cap Rate 9%
$126,456
$126.5K
Market Conditions
NOI Build-Up for 1,790 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
$17.4K $9.72/SF
− Vacancy
−$1.1K −$0.64/SF
EGI
$16.3K $9.08/SF
− OpEx
−$4.9K −$2.73/SF
NOI
$11.4K $6.36/SF
Area
Washington County, TN
Vacancy
6.55%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
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%
$227,620
Cap Rate 7%
$162,586
Cap Rate 9%
$126,456
Alternative Uses
Best Use
Multifamily LT 5
$162.6K
$142.3K – $189.7K
NOI $11,381 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$144.6K
$126.5K – $168.7K
NOI $10,119 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$754.9K
$660.5K – $880.7K
NOI $52,841 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 37604, TN
37,025
Population
19,334
Households
1.9
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
33.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$49,351
Median Household Income
$31,863
Median Earnings
$950
Median Rent
$231,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a private entrance, covered porch, and separate rear deck.
Where is this duplex located?
The property is located at 1103 High Street Johnson City, TN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 bathrooms per unit; 1,790 square feet on a 0.17‑acre lot; Private entrance, covered front porch, and rear deck for each unit
