Two-Home Multifamily
1845 Park Street, Kingsport, TN 37664
For Sale
$149,000
Pending
Multi Family, Kingsport, TN
Property Size1,835 SF
Lot Size0.15 Acres
Days on Market92
Property Features for 1845 Park Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Interior features
Fencing
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Listing Agency:
Southern Dwellings
(423) 343-4118
Listed By:
Kimberly Hall · License TN #368518
(423) 429-3744
Added: Aug 11
Changed: Nov 3
Last Checked: Nov 10 at 5:06PM
MLS# 9999417
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.
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Investment Insights
Based on property information with market context.
At 1845 Park Street, the property comprises two detached homes and a stone utility building on a 0.15-acre parcel. The front residence, built in 1938, contains 1,067 square feet with three bedrooms and one bathroom. The rear home was built in 1940 and offers 768 square feet, two bedrooms, and one bathroom. The 264-square-foot utility building dates to 1938. Both residences are vacant, and the property is being sold as-is.
The homes have public water and public sewer service. Their recorded features include porches, privacy fencing, radiant natural-gas heat, and window-unit cooling; the property also has ceiling fans. Zoning is R 1B.
The homes have public water and public sewer service. Their recorded features include porches, privacy fencing, radiant natural-gas heat, and window-unit cooling; the property also has ceiling fans. Zoning is R 1B.
Key Highlights
- Two detached residences on a 0.15‑acre parcel
- Front home: 1,067 square feet, 3 bedrooms, 1 bathroom; built in 1938
- Rear home: 768 square feet, 2 bedrooms, 1 bathroom; built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,818
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$256,360
$256.4K
Cap Rate 7%
$183,114
$183.1K
Cap Rate 9%
$142,422
$142.4K
Market Conditions
NOI Build-Up for 1,835 SF
Gross rent
$24.7K $13.44/SF
− Vacancy
−$1.4K −$0.74/SF
EGI
$23.3K $12.70/SF
− OpEx
−$10.5K −$5.72/SF
NOI
$12.8K $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%
$256,360
Cap Rate 7%
$183,114
Cap Rate 9%
$142,422
Alternative Uses
Best Use
Apartment 5plus
$183.1K
$160.2K – $213.6K
NOI $12,818 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$687.2K
$601.3K – $801.7K
NOI $48,102 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
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Business Placement
Demographics for 37664, TN
28,748
Population
13,914
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
848
Density / Sq Mi
$61,164
Median Household Income
$37,047
Median Earnings
$817
Median Rent
$204,900
Median Home Value
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Market
Average Price Trend$/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 detached residences occupy one parcel, with both homes currently vacant and available for showings.
Where is this multifamily property located?
The property is located at 1845 Park Street Kingsport, TN.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Two detached residences on a 0.15‑acre parcel; Front home: 1,067 square feet, 3 bedrooms, 1 bathroom; built in 1938; Rear home: 768 square feet, 2 bedrooms, 1 bathroom; built in 1940
