Duplex with Separate
New
For Sale
$145,000
812 Hamilton Street, Johnson City, TN 37604
Multi Family, Johnson City, TN
Property Size1,814 SF
Price / SF$79.93
Days on Market3
Property Features for 812 Hamilton Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R 2C
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 1
Patio and Porch features
Porch
Interior features
Laminate Counters, Open Floorplan
Basement
Exterior Entry, Finished, Block, Partial, Walk-Out Access
Appliances
Built-In Electric Oven, Refrigerator
Elementary school
South Side
Middle school
Liberty Bell
High school
Science Hill
Directions
From State of Franklin turn left onto Knobb Creek, Left onto Hamilton Street, the home will Be on the left, See sign.
Standard status
Active
APN
054b C 010.01
Size
1,814 SF
Taxes and HOA fees
Tax Annual Amount
560
Utilities
Sewer type
Public Sewer, Septic Tank
Heating system
Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Tile, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Westbrook Legacy Realty
(423) 518-2060
Listed By:
Jeanna LaBossiere · License #359037
(423) 390-8443
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 4:06PM
MLS# 10001490
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.
Investment Insights
Based on property information with market context.
Built in 1930, this 1,814-square-foot duplex is arranged as a main-level residence and a basement residence. Each has two bedrooms and one bathroom, along with its own covered porch. Separate electric and water meters serve the units. The main-level space has several updated windows, newer cabinets and countertops, and ample natural light.
The VA Medical Center, ETSU and downtown Johnson City are all within walking distance. The property is in Johnson City, Tennessee, and is zoned R 2C.
A water heater was installed in 2024, and the roof dates to 2019. Interior features include an open floor plan, laminate counters, vinyl and tile flooring, an electric oven and a refrigerator.
The VA Medical Center, ETSU and downtown Johnson City are all within walking distance. The property is in Johnson City, Tennessee, and is zoned R 2C.
A water heater was installed in 2024, and the roof dates to 2019. Interior features include an open floor plan, laminate counters, vinyl and tile flooring, an electric oven and a refrigerator.
Key Highlights
- Two living spaces, each with 2 bedrooms and 1 bathroom
- 1,814 square feet; built in 1930
- Separate electric and water meters for each residence
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
$11,534
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
7.95%
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%
$230,680
$230.7K
Cap Rate 7%
$164,771
$164.8K
Cap Rate 9%
$128,156
$128.2K
Market Conditions
NOI Build-Up for 1,814 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
$17.6K $9.72/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$16.5K $9.08/SF
− OpEx
−$4.9K −$2.73/SF
NOI
$11.5K $6.36/SF
Area
Washington County, TN
Vacancy
6.55%
Lease Rate
$9.72 /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%
$230,680
Cap Rate 7%
$164,771
Cap Rate 9%
$128,156
Alternative Uses
Best Use
Multifamily LT 5
$164.8K
$144.2K – $192.2K
NOI $11,534 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$146.5K
$128.2K – $170.9K
NOI $10,255 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$765.0K
$669.4K – $892.5K
NOI $53,549 @ 7.0% cap · market cap 36.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences have individual electric and water meters, with covered porches serving both living spaces.
Where is this duplex located?
The property is located at 812 Hamilton Street Johnson City, TN.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two living spaces, each with 2 bedrooms and 1 bathroom; 1,814 square feet; built in 1930; Separate electric and water meters for each residence
