Two-Story
For Sale
$115,000
408 Gaines St, Kingsport, TN 37664
Two-story duplex offered as-is and requiring renovation.
Property Size1,248 SF
Lot Size0.14 Acres
Price / SF$92.15
Days on Market54
Property Features for 408 Gaines St
General Information
Standard status
Active
Size
1,248 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Fixer upper
Additional Details
Multifamily Units
2
Building Details
Year Built
1953
Buildings
1
Stories
2
Listed By:
Southern Charm Homes
(865) 518-4324
Source:
Southerncharm
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 28 at 7:59AM
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 Southern Charm Homes
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Investment Insights
Based on property information with market context.
This two-story duplex contains 1,248 SF and dates to 1953. The property sits on a 6,098 SF lot and requires substantial work, making renovation a central consideration for the next owner. Its duplex configuration supports potential income use, subject to the property's condition and applicable requirements.
Located at 408 Gaines St in Kingsport, TN 37664, the property is being offered through a reserve auction. The sale is conducted as-is, without repair obligations, warranties, guarantees, contingencies, or representations regarding the property's condition or listing materials. Inspection before bidding is advised.
Located at 408 Gaines St in Kingsport, TN 37664, the property is being offered through a reserve auction. The sale is conducted as-is, without repair obligations, warranties, guarantees, contingencies, or representations regarding the property's condition or listing materials. Inspection before bidding is advised.
Key Highlights
- Two‑story duplex configuration
- 1,248 SF building
- 6,098 SF lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,312
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,240
$186.2K
Cap Rate 7%
$133,029
$133.0K
Cap Rate 9%
$103,467
$103.5K
Market Conditions
NOI Build-Up for 1,248 SF
Gross rent
$14.2K $11.40/SF
− Vacancy
−$925 −$0.74/SF
EGI
$13.3K $10.66/SF
− OpEx
−$4.0K −$3.20/SF
NOI
$9.3K $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 Rate 5%
$186,240
Cap Rate 7%
$133,029
Cap Rate 9%
$103,467
Alternative Uses
Best Use
Multifamily LT 5
$133.0K
$116.4K – $155.2K
NOI $9,312 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$124.5K
$109.0K – $145.3K
NOI $8,718 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$467.4K
$408.9K – $545.3K
NOI $32,715 @ 7.0% cap · market cap 28.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
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Business Placement
Demographics for 37664, TN
28,748
Population
13,914
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
848
Density / Sq Mi
$61,164
Median Household Income
$37,047
Median Earnings
$817
Median Rent
$204,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-story duplex offered as-is and requiring renovation.
Where is this duplex located?
The property is located at 408 Gaines St Kingsport, TN.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Two‑story duplex configuration; 1,248 SF building; 6,098 SF lot
