Two-Unit Duplex with
New
For Sale
$299,900
629 Branch St, Kingsport, TN 37660
Separate residences provide private living areas and laundry facilities for tenants or an owner-occupant arrangement.
Property Size2,112 SF
Price / SF$141
Days on Market3
Property Features for 629 Branch St
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 4BR/2.5BA, 1 x studio/1BA
Multifamily Units
2
Additional Details
Gross Income
$45,600
Building Details
Year Built
1920
Listing Agency:
Braswell Realty Inc. Rm
Listed By:
The Freck Group, Shad Freck, Stephanie M
(423) 429-5214
Source:
Livinginjohnsoncity
Added: Sep 13
Changed: Sep 14
Last Checked: Sep 15 at 7:15AM
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.
This 2,112-square-foot duplex includes a 4-bedroom, 2.5-bath primary residence and a separate studio apartment with a full bath. Both units have private living space and individual laundry facilities, creating a clear two-residence configuration. The property was built in 1920 and is being sold as-is.
Both units are currently rented and have an established rental history. The seller currently pays utilities. The studio may also function as additional space for guests or extended household use, subject to the buyer’s intended arrangement and applicable requirements.
The property is near Downtown Kingsport, Eastman, shopping, dining, and major roadways. Rent rolls and operating expense information are available upon request.
Both units are currently rented and have an established rental history. The seller currently pays utilities. The studio may also function as additional space for guests or extended household use, subject to the buyer’s intended arrangement and applicable requirements.
The property is near Downtown Kingsport, Eastman, shopping, dining, and major roadways. Rent rolls and operating expense information are available upon request.
Key Highlights
- 2,112‑square‑foot duplex built in 1920
- Main residence offers 4 bedrooms and 2.5 baths
- Separate studio apartment includes a full bath
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
$15,758
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
5.25%
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%
$315,160
$315.2K
Cap Rate 7%
$225,114
$225.1K
Cap Rate 9%
$175,089
$175.1K
Market Conditions
NOI Build-Up for 2,112 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
$24.1K $11.40/SF
− Vacancy
−$1.6K −$0.74/SF
EGI
$22.5K $10.66/SF
− OpEx
−$6.8K −$3.20/SF
NOI
$15.8K $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%
$315,160
Cap Rate 7%
$225,114
Cap Rate 9%
$175,089
Alternative Uses
Best Use
Multifamily LT 5
$225.1K
$197.0K – $262.6K
NOI $15,758 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$210.8K
$184.4K – $245.9K
NOI $14,753 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$790.9K
$692.0K – $922.7K
NOI $55,363 @ 7.0% cap · market cap 18.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,155
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Separate residences provide private living areas and laundry facilities for tenants or an owner-occupant arrangement.
Where is this duplex located?
The property is located at 629 Branch St Kingsport, TN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,112‑square‑foot duplex built in 1920; Main residence offers 4 bedrooms and 2.5 baths; Separate studio apartment includes a full bath
