Updated Duplex with Separate
New
For Sale
$245,000
3412 Glen Alpine Road, Kingsport, TN 37660
Multi Family, Kingsport, TN
Property Size2,128 SF
Lot Size0.28 Acres
Price / SF$115.13
Days on Market2
Property Features for 3412 Glen Alpine Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R 1
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 1, Basement
Patio and Porch features
Porch
Interior features
Remodeled
Fireplace
1
Basement
Walk-Out Access
Appliances
Dishwasher, Electric Range, Refrigerator
Subdivision
Not In Subdivision
Elementary school
Sullivan
Middle school
Sullivan
High school
West Ridge
Directions
From the corner of Glen Alpine Rd and Sullivan Gardens Dr take Glen Alpine Rd for 0.6 mile to the property on the right. GPS friendly.
Standard status
Active
APN
090f A 01100 000
Size
2,128 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
658
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Amenities
fireplace
sunroom
deck
Building Details
Year built
1958
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Concrete, Hardwood
Roof type
Shingle
Architectural style
Split Level
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
Kelly Johnson · License #358306
(423) 765-8848
Added: Sep 18
Last Checked: Sep 19 at 8:06PM
MLS# 10001075
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 2,128-square-foot split-level duplex, built in 1958, provides two distinct living areas within one residence. The upper level includes three bedrooms, a full bathroom, kitchen, living area, and washer and dryer hookups. The lower level adds two rooms, a second kitchen, full bathroom, laundry hookups, living space, fireplace, and a sunroom with direct access to the driveway. Separate entrances and independent climate control support privacy between levels.
Recent improvements include whole-house rewiring, updated plumbing with a new main water line, a 50-gallon water heater installed three months ago, a new upstairs forced-air HVAC system, downstairs mini-splits, a remodeled lower kitchen, added living area, and a new deck. The 0.28-acre property uses public water and a septic tank and is zoned R 1.
Recent improvements include whole-house rewiring, updated plumbing with a new main water line, a 50-gallon water heater installed three months ago, a new upstairs forced-air HVAC system, downstairs mini-splits, a remodeled lower kitchen, added living area, and a new deck. The 0.28-acre property uses public water and a septic tank and is zoned R 1.
Key Highlights
- 2,128‑square‑foot split‑level duplex with two distinct living areas
- Upper level includes 3 bedrooms, kitchen, full bathroom, living area, and laundry hookups
- Lower level features 2 rooms, a second kitchen, full bathroom, living area, and sunroom
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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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 - Two independent living areas offer separate kitchens, laundry hookups, climate control, and access within a split-level home.
Where is this duplex located?
The property is located at 3412 Glen Alpine Road 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: 2,128‑square‑foot split‑level duplex with two distinct living areas; Upper level includes 3 bedrooms, kitchen, full bathroom, living area, and laundry hookups; Lower level features 2 rooms, a second kitchen, full bathroom, living area, and sunroom
