Two-Home Multifamily
1138 Fairview Ave, Kingsport, TN 37660
For Sale
$199,000
Two separate residences provide flexible household arrangements and rental-use potential on one parcel.
Property Size2,580 SF
Price / SF$77.13
Days on Market55
Property Features for 1138 Fairview Ave
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Buildings
Listing Agency:
Greater Impact Realty Jonesborough
Listed By:
The Freck Group, Shad Freck, Stephanie M
(423) 429-5214
Source:
Livinginjohnsoncity
Added: Sep 16
Changed: Nov 8
Last Checked: Nov 8 at 6:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greater Impact Realty Jonesborough
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Investment Insights
Based on property information with market context.
This multifamily property includes two separate residences: an updated 3-bedroom, 2-bath double-wide and a 3-bedroom, 2-bath single-wide. The double-wide provides 1,680 square feet with an open layout, newer flooring, a new roof, new decks, double-pane windows, and an easy-maintenance yard. A new heat pump has been ordered for installation. The separate single-wide has new windows and is occupied by a tenant, creating an existing rental-use arrangement.
Built in 1991, the property is near Downtown Kingsport and falls within Kingsport City Schools. The two-home configuration supports multiple household arrangements, extended-family living, guest space, or rental use. The homes may also be considered for separate sale, subject to survey and subdivision of the property.
Built in 1991, the property is near Downtown Kingsport and falls within Kingsport City Schools. The two-home configuration supports multiple household arrangements, extended-family living, guest space, or rental use. The homes may also be considered for separate sale, subject to survey and subdivision of the property.
Key Highlights
- Two separate homes located on one parcel
- Updated 3‑bedroom, 2‑bath double‑wide with 1,680 square feet
- Double‑wide improvements include a new roof, flooring, decks, and double‑pane windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,022
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,440
$360.4K
Cap Rate 7%
$257,457
$257.5K
Cap Rate 9%
$200,244
$200.2K
Market Conditions
NOI Build-Up for 2,580 SF
Gross rent
$34.7K $13.44/SF
− Vacancy
−$1.9K −$0.74/SF
EGI
$32.8K $12.70/SF
− OpEx
−$14.7K −$5.72/SF
NOI
$18.0K $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 Rate 5%
$360,440
Cap Rate 7%
$257,457
Cap Rate 9%
$200,244
Alternative Uses
Best Use
Apartment 5plus
$257.5K
$225.3K – $300.4K
NOI $18,022 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$966.2K
$845.4K – $1.13M
NOI $67,632 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
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Business Placement
Demographics for 37660, TN
39,479
Population
20,405
Households
1.9
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
65.7 sq mi
ZIP Area
601
Density / Sq Mi
$46,913
Median Household Income
$34,164
Median Earnings
$833
Median Rent
$177,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Kingsport, TN
Properties on Market for Multifamily properties in Kingsport
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences provide flexible household arrangements and rental-use potential on one parcel.
Where is this multifamily property located?
The property is located at 1138 Fairview Ave Kingsport, TN.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two separate homes located on one parcel; Updated 3‑bedroom, 2‑bath double‑wide with 1,680 square feet; Double‑wide improvements include a new roof, flooring, decks, and double‑pane windows
