3-Unit Multifamily
809 Ridgecrest Road, Johnson City, TN 37604
For Sale
$465,000
Multi Family, Johnson City, TN
Property Size2,824 SF
Lot Size0.48 Acres
Price / SF$164.66
Days on Market57
Property Features for 809 Ridgecrest Road
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Window features
Patio and Porch features
Interior features
Appliances
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
Selling Stateline Real Estate Group
(423) 343-9026
Listed By:
Brittany Reed · License TN #330034
(423) 773-9374
Added: Sep 15
Changed: Nov 9
Last Checked: Nov 10 at 5:06PM
MLS# 10000938
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.
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Investment Insights
Based on property information with market context.
This multifamily property combines a duplex with a separate cottage for three rental units. Each residence has two bedrooms and one bathroom. The property contains 2,824 square feet on a 0.48-acre lot and is zoned RP 2. The cottage is described as brand-new, while the main property was built in 1972.
Located in Johnson City near ETSU, downtown, medical facilities, and shopping, the property has public water and public sewer. Each unit has its own electric meter and HVAC system; water service is shared, with the cost allocated among tenants.
Located in Johnson City near ETSU, downtown, medical facilities, and shopping, the property has public water and public sewer. Each unit has its own electric meter and HVAC system; water service is shared, with the cost allocated among tenants.
Key Highlights
- Three rental units: two 2‑bedroom, 1‑bath units in the duplex and one 2‑bedroom, 1‑bath cottage
- 2,824 square feet on a 0.48‑acre lot
- Individual electric meters and HVAC systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,964
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,280
$319.3K
Cap Rate 7%
$228,057
$228.1K
Cap Rate 9%
$177,378
$177.4K
Market Conditions
NOI Build-Up for 2,824 SF
Gross rent
$31.2K $11.04/SF
− Vacancy
−$2.2K −$0.76/SF
EGI
$29.0K $10.28/SF
− OpEx
−$13.1K −$4.63/SF
NOI
$16.0K $5.65/SF
Area
Washington County, TN
Vacancy
6.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,280
Cap Rate 7%
$228,057
Cap Rate 9%
$177,378
Alternative Uses
Best Use
Apartment 5plus
$228.1K
$199.6K – $266.1K
NOI $15,964 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,364 @ 7.0% cap · market cap 17.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
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Business Placement
Demographics for 37604, TN
37,025
Population
19,334
Households
1.9
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
33.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$49,351
Median Household Income
$31,863
Median Earnings
$950
Median Rent
$231,900
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Johnson City, TN
Properties on Market for Multifamily properties in Johnson City
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - A duplex and a separate cottage provide three two-bedroom rental homes with individual electric meters and HVAC systems.
Where is this multifamily property located?
The property is located at 809 Ridgecrest Road Johnson City, TN.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Three rental units: two 2‑bedroom, 1‑bath units in the duplex and one 2‑bedroom, 1‑bath cottage; 2,824 square feet on a 0.48‑acre lot; Individual electric meters and HVAC systems for each unit
