4-Unit Rental
New
For Sale
$575,000
311 12th Street, Bristol, TN 37620
Multi Family, Bristol, TN
Property Size2,400 SF
Lot Size0.36 Acres
Price / SF$239.58
Days on Market3
Property Features for 311 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RE
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 2, Bathroom 2, Basement, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 3, Bedroom 1, Dining Room
Parking features
Paved or Surfaced, Driveway
Security features
Security System
Window features
Window Treatments, Double Pane Windows
Patio and Porch features
Porch, Patio
Interior features
Entrance Foyer, Kitchen/Dining Combo, Laminate Counters, Restored
Fireplace
1
Basement
Walk-Out Access, Block, Concrete
Appliances
Microwave, Range, Refrigerator
Subdivision
Not In Subdivision
Elementary school
Anderson
Middle school
Vance
High school
Tennessee
Directions
I 81 to Exit 3: travel down Commonwealth Avenue until you cross over into TN Travel Volunteer Parkway until a right on Windsor Avenue travel to 12th Straight on 12th St-home on the right.
Standard status
Active
APN
020d M 02700 000
Size
2,400 SF
Lot size
0.36 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1300
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
4
Flooring type
Carpet, Hardwood, Tile
Building materials
Block, Stone, Vinyl Siding, Plaster
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Security Real Estate · Coldwell Banker Real Estate
(423) 282-2595
Listed By:
Jason Johnston · License #00257969
(423) 446-0148
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 6:06AM
MLS# 10002632
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.
This 2,400-square-foot quadplex contains four units and dates to 1930. The building has a basement that provides access to plumbing and electrical systems, and reported upgrades include the roof, windows, plumbing, and electrical. Interior features include a combined kitchen and dining area, hardwood, carpet and tile flooring, and a fireplace. A porch, patio, and paved driveway serve the property. Public water and sewer are available, along with natural gas.
The property occupies 0.36 acres in Bristol. It is within walking distance of downtown Bristol and Steel Creek Park, backs up to the Mark Vance Trail, and is about a mile from the Hard Rock Hotel and Casino. The building is approved for bed-and-breakfast use. Zoning is RE.
The property occupies 0.36 acres in Bristol. It is within walking distance of downtown Bristol and Steel Creek Park, backs up to the Mark Vance Trail, and is about a mile from the Hard Rock Hotel and Casino. The building is approved for bed-and-breakfast use. Zoning is RE.
Key Highlights
- Four units currently occupied by long‑term renters
- 2,400 square feet on a 0.36‑acre parcel
- 1930 construction with reported roof, window, plumbing, and electrical upgrades
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,907
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$358,140
$358.1K
Cap Rate 7%
$255,814
$255.8K
Cap Rate 9%
$198,967
$199.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$27.4K $11.40/SF
− Vacancy
−$1.8K −$0.74/SF
EGI
$25.6K $10.66/SF
− OpEx
−$7.7K −$3.20/SF
NOI
$17.9K $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 Rate 5%
$358,140
Cap Rate 7%
$255,814
Cap Rate 9%
$198,967
Alternative Uses
Best Use
Multifamily LT 5
$255.8K
$223.8K – $298.5K
NOI $17,907 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$239.5K
$209.6K – $279.4K
NOI $16,765 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$898.8K
$786.4K – $1.05M
NOI $62,913 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
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Business Placement
Demographics for 37620, TN
38,245
Population
18,119
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
90%
High-School Grad
128.2 sq mi
ZIP Area
298
Density / Sq Mi
$54,908
Median Household Income
$36,017
Median Earnings
$809
Median Rent
$175,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four long-term rentals occupy a restored building with a basement and a separate outdoor area.
Where is this quadplex located?
The property is located at 311 12th Street Bristol, TN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four units currently occupied by long‑term renters; 2,400 square feet on a 0.36‑acre parcel; 1930 construction with reported roof, window, plumbing, and electrical upgrades
