Remodeled Duplex with Separate
For Sale
$299,900
211 Mount Zion Church Road, Jonesborough, TN 37659
Residential duplex with one updated unit and an existing long-term tenant in the second unit.
Property Size2,178 SF
Price / SF$137.70
Days on Market377
Property Features for 211 Mount Zion Church Road
General Information
Standard status
Active
Size
2,178 SF
Property subtype
Multi Family / Duplex
Zoning
residential
Taxes and HOA fees
Annual Taxes
$723
Amenities
Two
Central Air, Heat Pump, Yes
Yes
See Remarks, Luxury Vinyl
Electric Dryer Hookup, Washer Hookup
Block
.00
Metal, Other
Double Pane Windows
Asphalt
No
Central, Heat Pump
Block, Brick, Vinyl Siding, See Remarks
Building Details
Year Built
1955
Listing Agency:
Property Advisors
(404) 433-7371
Listed By:
Laura Meade · License #353048
(404) 433-7371
Source:
Compass
Added: Aug 19, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:56PM
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 Property Advisors
Investment Insights
Based on property information with market context.
This residential duplex at 211 Mount Zion Church Road in Jonesborough includes 2,178 square feet and was built in 1955. The property has a four-bedroom, two-bath unit that was recently remodeled and is vacant for showings, along with a two-bedroom unit occupied by a long-term tenant who would like to remain. Recent updates include luxury vinyl flooring, central air, and heat pump systems.
Separate water and electric meters serve the units. The property is zoned residential and includes block, brick, and vinyl siding exterior elements, along with double-pane windows and asphalt drive surfaces. The projected cap rate is 12% once the vacant unit is rented.
Separate water and electric meters serve the units. The property is zoned residential and includes block, brick, and vinyl siding exterior elements, along with double-pane windows and asphalt drive surfaces. The projected cap rate is 12% once the vacant unit is rented.
Key Highlights
- 2,178‑square‑foot duplex on 211 Mount Zion Church Road, Jonesborough, TN 37659
- Four‑bedroom, two‑bath unit recently remodeled and vacant for showings
- Two‑bedroom unit occupied by a long‑term tenant who would like to remain
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
$13,848
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
4.62%
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%
$276,960
$277.0K
Cap Rate 7%
$197,829
$197.8K
Cap Rate 9%
$153,867
$153.9K
Market Conditions
NOI Build-Up for 2,178 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
$21.2K $9.72/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$19.8K $9.08/SF
− OpEx
−$5.9K −$2.73/SF
NOI
$13.8K $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%
$276,960
Cap Rate 7%
$197,829
Cap Rate 9%
$153,867
Alternative Uses
Best Use
Multifamily LT 5
$197.8K
$173.1K – $230.8K
NOI $13,848 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$175.9K
$153.9K – $205.2K
NOI $12,312 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$918.5K
$803.7K – $1.07M
NOI $64,295 @ 7.0% cap · market cap 21.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 37659, TN
29,313
Population
12,798
Households
2.3
Avg Household Size
45
Median Age
29%
College-Educated
92%
High-School Grad
126.9 sq mi
ZIP Area
231
Density / Sq Mi
$69,765
Median Household Income
$40,962
Median Earnings
$1,034
Median Rent
$241,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with one updated unit and an existing long-term tenant in the second unit.
Where is this duplex located?
The property is located at 211 Mount Zion Church Road Jonesborough, TN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,178‑square‑foot duplex on 211 Mount Zion Church Road, Jonesborough, TN 37659; Four‑bedroom, two‑bath unit recently remodeled and vacant for showings; Two‑bedroom unit occupied by a long‑term tenant who would like to remain
