Multifamily (Multi Family)

3404-3585 Frylee Ct, Kingsport, TN 37664

*40 UNIT- NEWER CONSTRUCTION, SINGLE FAMILY DETACHED RENTAL HOME COMMUNITY FOR SALE! *The Settlement at Frylee Court represents a rare opportunity to acquire a fully stabilized, newly constructed single-family rental (SFR) community in the heart of Kingsport, Tennessee. Completed between 2023 and 2024, this high-quality portfolio consists of 40 SINGLE FAMILY-DETACHED homes averaging 1,520 square feet across three distinct floorplans. Designed for modern living, each residence features energy-efficient construction, contemporary finishes, and thoughtfully designed open layouts. The homes were developed with long-term durability and minimal maintenance in mind, resulting in operational efficiency and predictable performance for ownership.Currently maintaining 97.5%-100% occupancy with average monthly rents of $2,221, the community is fully stabilized and performing exceptionally well within the local rental market. Each home is platted on its own lot, providing investors with the flexibility to hold the portfolio for long-term cash flow or pursue a phased exit strategy through individual home sales.Investment HighlightsNew Construction (2023-2024): Modern, energy-efficient homes designed to minimize maintenance and maximize tenant satisfaction.Stabilized Performance: Consistent occupancy near 100% and a proven rent roll delivering a $814, 802 NOI and 6.08% cap rate.Attractive Rent Growth: Projected annual rent increases of 5%, driven by strong demand for quality rental housing in Kingsport.Luxury Appeal: Upscale design features including stainless steel appliances, premium flooring, spacious kitchens, and open-concept living spaces.Prime Location: Centrally located in Kingsport City Limits, offering convenient access to major employers, shopping, dining, and top-rated schools.Diversified Floorplans: Three different home layouts catering to a range of lifestyles, from young professionals to families and retirees.Flexible Exit Strategy: Homes are individually platted, a

Geographical

County: Sullivan

Subdivision:

Zoning: Residential

School System

Jefferson Elementary

Robinson Middle

Dobyns Bennett High

Other Rooms: Laundry, Sitting, Mud Room, Primary Bedroom, Primary Bathroom  Flooring: Luxury Vinyl  Other Features: Entrance Foyer, Walk-In Closet(s), Pantry, Open Floorplan, Primary Downstairs, Kitchen/Dining Combo, Grani 

Porch, Patio, Decking Detail:  Covered, Rear Patio, Front Porch Roof: Shingle Exterior Finish: Brick, Vinyl Siding Garage: 2 

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