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228 Moreland Drive, Kingsport, TN 37660 - $219,500

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Bedrooms: 0 Full Bathrooms: 0 Half Bathrooms: 0
Type: Multi-Family Sub Type: Multi-Family MLS Number: 9961398
Living Area: 0 Lot Acreage: 1 Year Built: 1972
Elementary School: Rock Springs Middle School: Sullivan Heights Middle High School: West Ridge
Property 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.
  • More Listing Info
    AC:Wall Unit(s)true
    AC:Window Unit(s)true
    Basement:Unfinishedtrue
    Construction:Site Built2true
    Contract Info:ForeclosureNo
    Easements:None12true
    Exterior Finish:Other16true
    Exterior Finish:Vinyl Sidingtrue
    General Property Description:# Buildings2
    General Property Description:# of Units3.0
    General Property Description:Acres0.84
    General Property Description:Elementary School3Rock Springs
    General Property Description:High School3West Ridge
    General Property Description:HOA YNNo
    General Property Description:Home Warranty2No
    General Property Description:Lot Dimensions91.53 X 440.59 IRR
    General Property Description:Middle School2Sullivan Heights Middle
    General Property Description:Total Units3
    General Property Description:Zoning2R 1
    Heating:Baseboardtrue
    Heating:Electrictrue
    Heating:Space Heatertrue
    Location Tax Legal Info:City Taxes0.0
    Location Tax Legal Info:County Taxes1192.51
    Location Tax Legal Info:Deed Book #3438
    Location Tax Legal Info:Deed Page #2061
    Remarks Misc:Directions3JB Dennis to Jared Dr. Left on Moreland. Property is on the left.
    Remarks Misc:Public Remarks2Welcome 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.
    Sewer:Septic Tanktrue
    Showing Instructions:Showing Servicetrue
    Style:Ranchtrue
    TopographyLot Description:Level2true
    Unit 1:# Bathrooms51.0
    Unit 1:# Bedrooms32
    Unit 1:SqFt6900
    Unit 2:# Bathrooms41.0
    Unit 2:# Bedrooms42
    Unit 2:SqFt5900
    Unit 3:# Bathrooms31.0
    Unit 3:# Bedrooms51
    Unit 3:SqFt2572
    Water:Publictrue
    Videos: (none)
    Virtual Tours: (none)
Listing Courtesy:
Fathom Realty
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