Remodeled Duplex with
For Sale
$329,000
722-724 Holston Street Unit 28, Kingsport, TN 37660
Two-unit residential property combining updated interiors, separate driveways, and access to downtown amenities.
Property Size2,592 SF
Price / SF$126.93
Days on Market324
Property Features for 722-724 Holston Street Unit 28
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Multi Family / Duplex
Zoning
R2
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,677
Amenities
Two
Heat Pump, Yes
Yes
2
Unfinished
Luxury Vinyl, Carpet
Living Room, Ornamental
.00
Shingle
Driveway
Heat Pump
Brick
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Fathom Realty
(423) 765-8848
Listed By:
Kelly Johnson · License #358306
(423) 765-8848
Source:
Compass
Added: Oct 12, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:24PM
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 Fathom Realty
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains 2,592 square feet with two separately configured units. Each side offers three bedrooms and one bathroom, while the property also includes an unfinished basement and individual driveways with room for several vehicles. Additional street parking is available.
Unit 724 has been remodeled throughout and has operated as a short-term and mid-term rental. Unit 722 was updated after its prior long-term tenancy. The property is zoned R2 and sits within a historic district near Church Circle and downtown Kingsport. Nearby destinations identified for the property include Eastman, Domtar Park, Kingsport Aquatic Center, Holston Valley Medical Center, King's Sport Axe House, and The Reserve. Furnishings in Unit 724 may also be available separately from the property.
Unit 724 has been remodeled throughout and has operated as a short-term and mid-term rental. Unit 722 was updated after its prior long-term tenancy. The property is zoned R2 and sits within a historic district near Church Circle and downtown Kingsport. Nearby destinations identified for the property include Eastman, Domtar Park, Kingsport Aquatic Center, Holston Valley Medical Center, King's Sport Axe House, and The Reserve. Furnishings in Unit 724 may also be available separately from the property.
Key Highlights
- Duplex totals 2,592 SF with two 3‑bedroom, 1‑bath units
- Unit 724 remodeled throughout and used for short‑term and mid‑term rentals
- Unit 722 recently updated following prior long‑term rental use
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
$19,340
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
5.88%
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%
$386,800
$386.8K
Cap Rate 7%
$276,286
$276.3K
Cap Rate 9%
$214,889
$214.9K
Market Conditions
NOI Build-Up for 2,592 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
$29.5K $11.40/SF
− Vacancy
−$1.9K −$0.74/SF
EGI
$27.6K $10.66/SF
− OpEx
−$8.3K −$3.20/SF
NOI
$19.3K $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 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%
$386,800
Cap Rate 7%
$276,286
Cap Rate 9%
$214,889
Alternative Uses
Best Use
Multifamily LT 5
$276.3K
$241.8K – $322.3K
NOI $19,340 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$258.7K
$226.3K – $301.8K
NOI $18,106 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$970.7K
$849.3K – $1.13M
NOI $67,946 @ 7.0% cap · market cap 20.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,202
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property combining updated interiors, separate driveways, and access to downtown amenities.
Where is this duplex located?
The property is located at 722-724 Holston Street Unit 28 Kingsport, TN.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Duplex totals 2,592 SF with two 3‑bedroom, 1‑bath units; Unit 724 remodeled throughout and used for short‑term and mid‑term rentals; Unit 722 recently updated following prior long‑term rental use
