New Construction
New
For Sale
$489,900
Bristol, TN 37620, Bristol, TN 37620
Multi Family, Bristol, TN
Property Size2,160 SF
Lot Size0.23 Acres
Price / SF$226.81
Days on Market6
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R 2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3
Patio and Porch features
Patio
Appliances
Dishwasher, Dryer, Electric Range, Microwave, Refrigerator, Washer
Subdivision
Not In Subdivision
Elementary school
Haynesfield
Middle school
Tennessee Middle
High school
Tennessee
Directions
1-81 to Exit 1, turn onto Volunteer Parkway, in .8 miles, turn left onto Weaver Pike, in 600 ft., turn right onto Southside Ave., then right onto Lark St. See sign
Standard status
Active
Size
2,160 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
67
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Amenities
LVP flooring
stainless steel appliances
dedicated laundry room with washer and dryer
Building Details
Year built
2026
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
CENTURY 21 Legacy Fort Henry · EXIT Realty
(423) 239-6112
Listed By:
Chris McMeans · License #314995
(423) 914-0450
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 26 at 9:06AM
MLS# 10001218
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.
This under-construction duplex will provide 2,160 square feet across two one-level ranch-style residences. Each unit measures 1,080 square feet and includes two bedrooms, two full bathrooms, a practical living layout, vinyl flooring, stainless steel appliances, and a dedicated laundry room equipped with a washer and dryer. Heat pump systems provide heating and cooling, while vinyl siding and shingle roofing support the low-maintenance design. Each residence also includes a patio.
The property occupies 0.23 acres in Bristol, with convenient access to downtown, shopping, dining, entertainment, and area amenities. Public water and public sewer serve the site, and the property is zoned R 2. The 2026 construction is currently under way.
The property occupies 0.23 acres in Bristol, with convenient access to downtown, shopping, dining, entertainment, and area amenities. Public water and public sewer serve the site, and the property is zoned R 2. The 2026 construction is currently under way.
Key Highlights
- Duplex totals 2,160 square feet, with 1,080 square feet in each unit
- Each unit includes 2 bedrooms and 2 full bathrooms
- 2026 construction with one‑level ranch‑style layouts
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
$16,116
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
3.29%
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%
$322,320
$322.3K
Cap Rate 7%
$230,229
$230.2K
Cap Rate 9%
$179,067
$179.1K
Market Conditions
NOI Build-Up for 2,160 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
$24.6K $11.40/SF
− Vacancy
−$1.6K −$0.74/SF
EGI
$23.0K $10.66/SF
− OpEx
−$6.9K −$3.20/SF
NOI
$16.1K $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%
$322,320
Cap Rate 7%
$230,229
Cap Rate 9%
$179,067
Alternative Uses
Best Use
Multifamily LT 5
$230.2K
$201.5K – $268.6K
NOI $16,116 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$808.9K
$707.8K – $943.7K
NOI $56,622 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 37620, TN
38,245
Population
18,119
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
90%
High-School Grad
128.2 sq mi
ZIP Area
298
Density / Sq Mi
$54,908
Median Household Income
$36,017
Median Earnings
$809
Median Rent
$175,500
Median Home Value
Check the figures for this property
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 ranch-style residences with modern finishes, private laundry rooms, and public utilities near downtown Bristol.
Where is this duplex located?
The property is located at Bristol, TN.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Duplex totals 2,160 square feet, with 1,080 square feet in each unit; Each unit includes 2 bedrooms and 2 full bathrooms; 2026 construction with one‑level ranch‑style layouts
