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    1004 Derwood Court

    Kingsport, TN 37660
    • $94,900
    • STATUS: Active
    • ON SITE: 39 days
    • MLS #: 9916377
    Price Reduced
    UPDATED: 57 min ago
    $94,900
    • 4
      BEDS
    • 0.12
      ACRES
    • 4
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1976
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    4 PLEX offering 4 -1 bedroom, 1 bath units. Each unit offers kitchen/living room combo along with a bedroom and bath. The basement two units have been combined into 1 unit currently but could be converted back into 2 separate units. One of the units in the basement is partially gutted and has not been redone completely. Renters pay for their own power and landlord pays their own water & sewer bill. Units offer ceiling heat, baseboard heat or space heaters and A/C would be window units. Each unit has a washer/dryer hookup with the exception of 1 of the main floor units only has a washer hookup. Renters are on a month to month lease on main level and owner occupies the basement area. Rents are upstairs $450 & $495 and basement area would be $650 if current owner stays = $1595. Yearly gross income is $19,140 based on the above -$2498 Insurance-$1652 taxes-$1440 average water bill yearly= $13,550 / list price of $99,900 = 13% cap rate. Per seller new roof in 2019, new porch beams & trim & columns for top units. New deck & porch on upper units in 2020. New windows in the bottom units, new floors in bottom units, new lower cabinets in apt 3. New bathroom in apt 3, cabinets, floor, med cabinet, toilet. Apt 4 has new floors, new walls, new bathroom.

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    © 2021 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2021-01-19T18:00:00.747.
    www.conservusrealestategroup.com/homes/112530432
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    1004 Derwood Court Kingsport, TN 37660

    • Price: $94,900
    • Status: Active
    • Updated: 57 min ago
    • MLS #: 9916377
    4
    Beds
    4
    Baths
    0
    ½ Baths
    0.12
    Acres
    1976
    Built
    County:
    Sullivan
    Area:
    Sullivan
    Elementary School:
    Jackson
    Middle School:
    Sevier
    High School:
    Dobyns Bennett
    Property Description
    4 PLEX offering 4 -1 bedroom, 1 bath units. Each unit offers kitchen/living room combo along with a bedroom and bath. The basement two units have been combined into 1 unit currently but could be converted back into 2 separate units. One of the units in the basement is partially gutted and has not been redone completely. Renters pay for their own power and landlord pays their own water & sewer bill. Units offer ceiling heat, baseboard heat or space heaters and A/C would be window units. Each unit has a washer/dryer hookup with the exception of 1 of the main floor units only has a washer hookup. Renters are on a month to month lease on main level and owner occupies the basement area. Rents are upstairs $450 & $495 and basement area would be $650 if current owner stays = $1595. Yearly gross income is $19,140 based on the above -$2498 Insurance-$1652 taxes-$1440 average water bill yearly= $13,550 / list price of $99,900 = 13% cap rate. Per seller new roof in 2019, new porch beams & trim & columns for top units. New deck & porch on upper units in 2020. New windows in the bottom units, new floors in bottom units, new lower cabinets in apt 3. New bathroom in apt 3, cabinets, floor, med cabinet, toilet. Apt 4 has new floors, new walls, new bathroom.
    Exterior Features

    Exterior Features Balcony Exterior Finish Brick Lot Dimensions 50 X 104.7 IRR Parking Features Asphalt Porch Patio Deck CoveredFront Porch Roof Architect Shingle Style 1 Story Topography Lot Description Rolling Slope Walls DrywallPaneling Window Features Insulated Windows

    Interior Features

    Ac See RemarksWindow Unit(S) Basement FullPartially Finished Building1 Number Rooms 3 Building2 Number Rooms 3 Building3 Number Rooms 3 Flooring CarpetCeramic TileLaminateVinyl Heating BaseboardElectricSee RemarksSpace Heater Laundry Features Electric Dryer HookupWasher Hookup

    Property Features

    Auction No Building1 Monthly Rent 450 Building2 Monthly Rent 495 Building3 Monthly Rent 325 Building4 Monthly Rent 325 Building4 Number Rooms 3 City Taxes 735.72 County Taxes 915.95 Easements None Expenses Include Property InsuranceTaxes Real EstateWater/Sewer Financing CashConventional Foreclosure No Income And Expenses Annual Operating Expenses 4150 Income And Expenses Annual Utility Expenses 1440 Income And Expenses Gross Annual Income 19140 Income And Expenses Net Annual Income 13550 Lot Number 3 Property Condition Average Property Sub Type Quadruplex Sewer Public Sewer Short Sale No Water Public Zoning R 1B /R3

    Listing information © 2021 Tennessee/Virginia Regional MLS.
    Listing provided courtesy of Joshua Coon of Park Hill Realty Group Llc.



    © 2021 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2021-01-19T18:00:00.747.
     
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    Conservus Real Estate Group
    402 East Main Street
    Kingsport TN, 37660