Duplex in Northeast City
3301/3303 NE Steeple Circle Cleveland, TN 37312
3301/3303 NE Steeple Circle, Cleveland, TN, 37312
$239,900
For Sale
$239,900
Duplex with tenant-paid utilities, ideal for investment or owner-occupancy.
Property Size840 SF
Lot Size0.13 Acres
Price / SF$285.60
Days on Market903
Property Features for 3301/3303 NE Steeple Circle
General Information
- Standard status
- Active
- Size
- 840 SF
- Lot size
- 0.13 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1989
Listing Agency
Crye-Leike REALTORS - Cleveland
(423) 596-7173
Listed by
Max Phillips · License #203547
(423) 596-7173
Source
Exitrealty
Added: Jan 26, 2024 Checked: Jul 17 at 4:48 am
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 Crye-Leike REALTORS - Cleveland
Investment Insights
Based on property information with market context.
This duplex, situated in a northeast city location, presents an investment opportunity. Each unit features 2 bedrooms, 1 1/2 baths, a kitchen, a living room, and washer/dryer hookups. The property offers the option to live in one unit and rent out the other. Tenants are responsible for paying electric, water, and sewer utilities. The property size is 840 square feet.
Key Highlights
- Duplex: Live in one unit and rent the other for income!
- Investment Potential: A great opportunity to build wealth and diversify your investments.
- Great NE City Location: Enjoy this desirable location within the city.
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 | $10.9k | $12.96 |
| − Vacancy | −$630 | −$0.75 |
| EGI | $10.3k | $12.21 |
| − OpEx | −$3.1k | −$3.66 |
| NOI | $7.2k | $8.55 |
840 SF · lease $12.96/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$102.6K
$89.7K – $119.7K
NOI $7,179 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$89.2K
$78.1K – $104.1K
NOI $6,247 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$176.3K
$154.2K – $205.6K
NOI $12,338 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex with tenant-paid utilities, ideal for investment or owner-occupancy.
Where is this duplex located?
The property is located at 3301/3303 NE Steeple Circle Cleveland, TN.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Duplex: Live in one unit and rent the other for income!; Investment Potential: A great opportunity to build wealth and diversify your investments.; Great NE City Location: Enjoy this desirable location within the city.
