Updated Duplex with Level
For Sale
$325,000
2426 Old Lewis Road, Johnson City, TN 37601
MULTI_FAMILY - Ranch - Johnson City, TN
Property Size1,524 SF
Lot Size0.40 Acres
Price / SF$213.25
Days on Market46
Property Features for 2426 Old Lewis Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
RS
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3
Parking features
Driveway
Window features
Insulated Windows
Patio and Porch features
Porch, Deck
Interior features
Eat-in Kitchen, Kitchen Island, Kitchen/Dining Combo, Laminate Counters, Remodeled
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Not In Subdivision
Elementary school
Mountain View
Middle school
Indian Trail
High school
Science Hill
Directions
From i-26, take exit 24 onto University Pkwy, .3 miles take right on Milligan Hwy, drive 1.2 miles and take right onto Old Lewis Rd. Drive 0.7 miles and property on right!
Standard status
Active
APN
063b C 00200 000
Size
1,524 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Annual Amount
864
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Heat Pump
Amenities
outdoor sitting area
yard
new appliances
new deck
Building Details
Year built
1921
Floors in Building
1
Number of units
9
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle, Composition
Architectural style
Ranch
Listing Agency:
A Team Real Estate Professionals
(423) 726-2260
Listed By:
David Reed · License #296229
(865) 223-2295
Added: Jun 16
Changed: Jul 28
Last Checked: Jul 31 at 10:06PM
MLS# 9996912
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 updated duplex includes two separate residential units with open living and kitchen areas. Unit 1 offers two bedrooms and one full bath, and includes new appliances and flooring plus a new deck. Unit 2 offers one bedroom and one full bath with an open concept living and kitchen area. Both units include outdoor sitting areas, and the property has a nice, level yard.
The property is located in Johnson City on Old Lewis Road, within Carter County. The gravel circle driveway provides parking.
The property is currently listed for sale, with total size noted as 1,524 square feet. Buyer and buyer’s agent should verify all information, including income figures and any applicable expenses.
The property is located in Johnson City on Old Lewis Road, within Carter County. The gravel circle driveway provides parking.
The property is currently listed for sale, with total size noted as 1,524 square feet. Buyer and buyer’s agent should verify all information, including income figures and any applicable expenses.
Key Highlights
- Duplex built in 1921 with ranch architectural style and vinyl siding
- Unit 1: 2 bed, 1 full bath; open living and kitchen area with new appliances and flooring; includes a deck
- Unit 2: 1 bed, 1 full bath; open concept living and kitchen area
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 | $14.8k | $9.72 |
| − Vacancy | −$970 | −$0.64 |
| EGI | $13.8k | $9.08 |
| − OpEx | −$4.2k | −$2.73 |
| NOI | $9.7k | $6.36 |
1,524 SF · lease $9.72/SF/yr · vacancy 6.55% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$138.4K
$121.1K – $161.5K
NOI $9,690 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$123.1K
$107.7K – $143.6K
NOI $8,615 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$642.7K
$562.4K – $749.8K
NOI $44,988 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 37601, TN
37,079
Population
18,153
Households
2
Avg Household Size
40
Median Age
33%
College-Educated
91%
High-School Grad
47.7 sq mi
ZIP Area
777
Density / Sq Mi
$49,658
Median Household Income
$32,312
Median Earnings
$892
Median Rent
$187,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex features updated interiors, outdoor sitting areas, and a gravel circle driveway for parking.
Where is this duplex located?
The property is located at 2426 Old Lewis Road Johnson City, TN.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex built in 1921 with ranch architectural style and vinyl siding; Unit 1: 2 bed, 1 full bath; open living and kitchen area with new appliances and flooring; includes a deck; Unit 2: 1 bed, 1 full bath; open concept living and kitchen area
