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423-968-7653
Multifamily (Multi-Family)

228 Moreland Dr
Kingsport, TN 37660

Ranch
FOR SALE – An offer has been accepted, BUT there are contigencies.
Price: $219,500  Price Per ft²: $92.54  List Date: 2024-01-30  DOM:  25
City Tax: $0 County Tax: $1,193
Year Built: 1972 About homes built before 1978

Total Area: 2,372 ft² (Finished & Unfinished)

Lot Size: 0.84 acre(s)Lot Dimensions: 91.53 X 440.59 IRRTopography: Level
Heating: Baseboard, Electric, Space HeaterCooling: Wall Unit(s), Window Unit(s)Water & Sewage: Public

Description

Welcome to a unique investment opportunity! This property features a recently renovated single-family home and a duplex, all on the same parcel. The duplex has a 2 bedrooms and 1 bathroom on each side of the building with separate driveways for privacy. One side of the duplex has been renovated in recent years. The single-family home, also recently renovated, provides a cozy 1-bedroom, 1-bathroom rental.The full, unfinished basement beneath the duplex is a hidden gem, complete with washer and dryer hookups. The coin operated washer and dryer convey to the buyer. This versatile space presents endless possibilities for additional storage or the potential to possibly create another rental unit, maximizing your rental income.The expenses for the seller includes water (about $70/month on average), property taxes, property insurance, and lawn care, with lawn maintenance costs averaging around $100 per month during mowing season. Each unit is separately metered for electric and the tenants pay for their own electricity. The renovated side of the duplex has a had a mini-split installed for heating and cooling, the other units have window units.The tenant on the renovated side of the duplex pays $950 per month and the other side pays $750 per month. The single-family home is primed and ready for a new tenant, offering an opportunity to set a competitive rental rate and further enhance your return on investment.Don't miss out on this chance to acquire a well-maintained, income-generating property with potential for expansion. Whether you're a seasoned investor or entering the real estate market, this property is a standout opportunity for long-term financial growth. Schedule a viewing today and unlock the full potential of this unique duplex and single-family home combo!Buyer and Buyer's agent to verify all information.

Community Information

Geographical
County: Sullivan
Subdivision:
Zoning: R 1
School System
Rock Springs Elementary
Sullivan Heights Middle Middle
West Ridge High

Interior

Basement & Foundation: Unfinished 

Exterior

Exterior Finish: Other, Vinyl Siding 

Photos

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Listing by Fathom Realty
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