Duplex with Separate Living
New
For Sale
$245,000
Pending
3412 Glen Alpine Rd, Kingsport, TN 37660
Updated two-level duplex with independent kitchens, laundry hookups, entrances, and climate control for flexible occupancy.
Property Size2,128 SF
Days on Market7
Property Features for 3412 Glen Alpine Rd
General Information
Standard status
Pending
Size
2,128 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1958
Buildings
1
Listing Agency:
Braswell Realty Inc. Rm
Listed By:
The Freck Group, Shad Freck, Stephanie M
(423) 429-5214
Source:
Livinginjohnsoncity
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 26 at 6:36AM
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 Braswell Realty Inc. Rm
Investment Insights
Based on property information with market context.
Built in 1958, this 2,128-square-foot duplex is arranged as two independent living areas. The upper level includes 3 bedrooms, a full bathroom, kitchen, living area, and washer and dryer hookups. The lower level provides 2 rooms, a second full bathroom and kitchen, separate laundry hookups, and a living area with fireplace. A connected sunroom exits directly to the driveway, creating a distinct lower-level entry.
Improvements completed within the past three years include whole-house rewiring, updated plumbing with a new main water line, a 50-gallon water heater installed 3 months ago, a new forced-air HVAC unit upstairs, mini-splits downstairs, a new lower-level kitchen, additional living space, and a new deck. The septic system was pumped 2 years ago. The property is located in Kingsport, with shopping and dining nearby and downtown Johnson City, Jonesborough, and Bristol within a short drive.
Improvements completed within the past three years include whole-house rewiring, updated plumbing with a new main water line, a 50-gallon water heater installed 3 months ago, a new forced-air HVAC unit upstairs, mini-splits downstairs, a new lower-level kitchen, additional living space, and a new deck. The septic system was pumped 2 years ago. The property is located in Kingsport, with shopping and dining nearby and downtown Johnson City, Jonesborough, and Bristol within a short drive.
Key Highlights
- Two‑level duplex with 2,128 square feet of living area
- Upper level includes 3 bedrooms, full bath, kitchen, living area, and laundry hookups
- Lower level offers 2 rooms, full bath, kitchen, living area, and separate laundry hookups
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
$15,878
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
6.48%
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%
$317,560
$317.6K
Cap Rate 7%
$226,829
$226.8K
Cap Rate 9%
$176,422
$176.4K
Market Conditions
NOI Build-Up for 2,128 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
$24.3K $11.40/SF
− Vacancy
−$1.6K −$0.74/SF
EGI
$22.7K $10.66/SF
− OpEx
−$6.8K −$3.20/SF
NOI
$15.9K $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 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%
$317,560
Cap Rate 7%
$226,829
Cap Rate 9%
$176,422
Alternative Uses
Best Use
Multifamily LT 5
$226.8K
$198.5K – $264.6K
NOI $15,878 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$212.4K
$185.8K – $247.8K
NOI $14,865 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$796.9K
$697.3K – $929.7K
NOI $55,783 @ 7.0% cap · market cap 22.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
22
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
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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 - Updated two-level duplex with independent kitchens, laundry hookups, entrances, and climate control for flexible occupancy.
Where is this duplex located?
The property is located at 3412 Glen Alpine Rd Kingsport, TN.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑level duplex with 2,128 square feet of living area; Upper level includes 3 bedrooms, full bath, kitchen, living area, and laundry hookups; Lower level offers 2 rooms, full bath, kitchen, living area, and separate laundry hookups
