Multifamily Property with Detached
809 Ridgecrest Road, Johnson City, TN 37604
For Sale
$475,000
Multi Family, Johnson City, TN
Property Size2,824 SF
Lot Size0.48 Acres
Price / SF$168.20
Days on Market54
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 #330034
(423) 773-9374
Added: Sep 15
Changed: Nov 4
Last Checked: Nov 7 at 12:06AM
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 2,824-square-foot multifamily property on 0.48 acres includes a duplex and a detached cottage. The duplex has two 2-bedroom, 1-bathroom units; the cottage provides 1 bedroom and 1 bathroom. All three residences have separate electrical metering and their own heating and cooling systems. The cottage is newly completed and features updated flooring, appliances, and HVAC. Interior details include eat-in kitchens, an open floor plan, and walk-in closets. Deck and porch areas add outdoor space.
The property is near ETSU, downtown Johnson City, shopping, and medical facilities. Public water and sewer serve the site, which is zoned RP 2.
The property is near ETSU, downtown Johnson City, shopping, and medical facilities. Public water and sewer serve the site, which is zoned RP 2.
Key Highlights
- Three separate residences: two duplex units and a detached cottage
- 2,824 square feet on 0.48 acres
- Duplex units each have 2 bedrooms and 1 bathroom; cottage has 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,964
Cap Rate
3.36%
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 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,364 @ 7.0% cap · market cap 17.55%
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 - Three residences have individual electrical meters and separate heating and cooling 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 $475,000.
What are key features of this property?
This property features: Three separate residences: two duplex units and a detached cottage; 2,824 square feet on 0.48 acres; Duplex units each have 2 bedrooms and 1 bathroom; cottage has 1 bedroom and 1 bathroom
