412 E Watauga Ave 5
Johnson City, TN 37601

$189,900

Description

Motivated seller!! Zoned RO-1 High Density Residential Professional Office District (please contact your agent for a list of approved uses-attached in MLS) Currently the property is a 5 unit property consisting of the following. Downstairs offers (2) 1 bed/1 bath units estimated at a rental of $750 each. Upstairs you have (2) 1 bed/1 bath units which have rented out for $500 a month before & (1) unit which is a efficiency unit at $400 a month. With the numbers above we have a yearly estimate income of $34,800 gross when all units are rented out. Expenses are based on 2015#s when unit was last rented out. Those are Gas $3118.38, Water/sewer/trash $664.22, Power $2365.92, Current Insurance at $925, current taxes at $3514.90 and then a 10% management fee if property was professionally managed $3480. Gross estimate income once fully rented $34,800 minus expenses $14,068.42 equals $20,731.58 net income for a 10.91 % cap rate if fully rented. For complete details see mls attached breakdown. Property has the same water & power & gas meter that services all units. Property could be turned back into a house or left as income producing property or used as a office or many other things.

Details

MLS#412917
Sub-TypeResale
StatusActive
Year1920
Days On Site243

Features

SQ Feet3,258
Story(s)4
ZoningCOMMERCIAL/RES

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Area Information

StateTN
CountyWASHINGTON-TN
CityJohnson City
Zip Code37601
AreaSE Johnson City
Listing VS Median (in 37601)
Price:
$189,900
low | high
Med:
$154,900
68.430753027909% of Average
SqFt:
3,258
low | high
Med:
1,914
91.252302025783% of Average
$ / SqFt:
$58
low | high
Med:
$81
11.153288069451% of Average
On Site:
243
low | high
Med:
38
100% of Average
Listing Updated: 05/22/2019
MLS Number: 412917
Listing Provided By:
JOSHUA COON  of  PARK HILL REALTY GROUP LLC

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