Apple Realty and Auction
Multifamily (Quadruplex)

1004 Derwood 41
Kingsport, PUBLIC SEWER 37660

1 Story  Stories: 1
Price: $94,900  Price Per ft²: $0.00  List Date: 2020-12-10  DOM:  40
City Tax: $736 County Tax: $916Expenses Include: Property Insurance, Taxes Real Estate, Water/Sewer
Year Built: R 1B 

Lot Size: 0.12 acre(s)Lot Dimensions: 50 x 104.7 IRRTopography: Rolling Slope
Heating: Baseboard, Electric, See Remarks, Space HeaterCooling: See Remarks, Window Unit(s)Water & Sewage: Public


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.

Community Information

County: Tn
Zoning: Sullivan
School System
Jackson Elementary
Sevier Middle
Dobyns Bennett High


Flooring: Carpet, Ceramic Tile, Laminate, Vinyl Basement & Foundation: Full, Partially Finished 


Porch, Patio, Decking Detail:  Covered, Front Porch Roof: Architect Shingle Exterior Finish: Brick Other Exterior: Balcony


Photo #1: 1004 Derwood 41 Photo #2: 1004 Derwood 41 Photo #3: 1004 Derwood 41 Photo #4: 1004 Derwood 41
Listing by Park Hill Realty Group Llc
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