Renovated Duplex with Guest
New
For Sale
$740,000
2236 Sheffield Street, Kingsport, TN 37660
Multi Family, Kingsport, TN
Property Size4,461 SF
Lot Size0.57 Acres
Price / SF$165.88
Days on Market2
Property Features for 2236 Sheffield Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R 1B
Bedrooms
5
Bathrooms
7
Full bathrooms
5
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 7, Bedroom 1, Bathroom 6, Basement, Bathroom 2, Bathroom 5, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 4
Parking features
Open, Driveway
Patio and Porch features
Porch
Interior features
Built-in Features, Eat-in Kitchen, Granite Counters, Kitchen Island, Remodeled, Walk-In Closet(s)
Fireplace
1
Basement
Walk-Out Access, Full, Finished, Interior Entry
Appliances
Built-In Electric Oven, Cooktop, Dishwasher, Double Oven, Microwave, Refrigerator
Subdivision
Preston Forest
Elementary school
Jefferson
Middle school
Robinson
High school
Dobyns Bennett
Directions
From E Stone Drive, turn Left onto Beechnut Dr. Turn Right onto Essex Dr. Turn Right onto Sheffield St. Destination is on the Right.
Standard status
Active
APN
047j A 01400 000
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
2283
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central, Fireplace(s), Heat Pump (Heating), Electric (Heating)
Cooling system
Heat Pump, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1976
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile - Ceramic, Vinyl
Building materials
Brick, Vinyl Siding
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
Greater Impact Realty Jonesborough
(423) 973-8634
Listed By:
Emily Colvin · License #347701
(865) 771-9149
Added: Sep 11
Last Checked: Sep 12 at 5:06PM
MLS# 10000748
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 renovated duplex at 2236 Sheffield Street includes 4,461 square feet on a 0.57-acre lot and was built in 1976. The finished basement provides a separate living area with a bedroom, full bath, kitchen, laundry, and exterior access. The main residence offers an updated kitchen with a double wall oven, electric cooktop, built-in microwave, refrigerator, pantry storage, and island seating. Additional interior features include formal and casual dining areas, multiple living spaces, a brick fireplace, an enclosed back porch, a main-level laundry room, and two half baths. The primary suite includes two walk-in closets and an updated en-suite bath, while three additional bedrooms share a hall bath.
The property is located in Kingsport’s Preston Forest neighborhood, near shopping, dining, and entertainment along East Stone Drive. SR-93 and I-26 provide nearby regional access. Mature trees frame the backyard, and the property has public water, public sewer, natural gas availability, driveway parking, and R 1B zoning.
The property is located in Kingsport’s Preston Forest neighborhood, near shopping, dining, and entertainment along East Stone Drive. SR-93 and I-26 provide nearby regional access. Mature trees frame the backyard, and the property has public water, public sewer, natural gas availability, driveway parking, and R 1B zoning.
Key Highlights
- 4,461‑square‑foot renovated duplex on 0.57 acres
- Finished basement with bedroom, kitchen, laundry, and separate exterior entrance
- Main kitchen includes double wall oven, electric cooktop, built‑in microwave, refrigerator, pantry, and island
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
$33,285
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
4.50%
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%
$665,700
$665.7K
Cap Rate 7%
$475,500
$475.5K
Cap Rate 9%
$369,833
$369.8K
Market Conditions
NOI Build-Up for 4,461 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
$50.9K $11.40/SF
− Vacancy
−$3.3K −$0.74/SF
EGI
$47.5K $10.66/SF
− OpEx
−$14.3K −$3.20/SF
NOI
$33.3K $7.46/SF
Area
Sullivan County, TN
Vacancy
6.50%
Lease Rate
$11.40 /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%
$665,700
Cap Rate 7%
$475,500
Cap Rate 9%
$369,833
Alternative Uses
Best Use
Multifamily LT 5
$475.5K
$416.1K – $554.8K
NOI $33,285 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$445.2K
$389.5K – $519.4K
NOI $31,162 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,940 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Explore this area
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
Check the figures for this property
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 - Remodeled duplex with a finished lower-level suite, separate entrance, kitchen, laundry, and flexible living areas.
Where is this duplex located?
The property is located at 2236 Sheffield Street Kingsport, TN.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 4,461‑square‑foot renovated duplex on 0.57 acres; Finished basement with bedroom, kitchen, laundry, and separate exterior entrance; Main kitchen includes double wall oven, electric cooktop, built‑in microwave, refrigerator, pantry, and island
