1002/1004 Main ST Pending Save Request In-Person Tour Request Virtual Tour
Morristown,TN 37814
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Pending
Purchase Type For Sale
Square Footage 1,550 sqft
Price per Sqft $128
Subdivision Not In Subdivision
MLS Listing ID 9977715
Style Victorian
Year Built 1900
Lot Size 8,712 Sqft
Property Sub-Type Duplex
Property Description
Don't miss this prime investment opportunity in the heart of Morristown! This income-producing duplex offers a strong rental history and excellent return potential. One unit was recently renovated and both units are currently leased on a yearly agreements. With a gross income of $20,400 per year, an estimated net income of $17,344, and a 8.7% cap rate, this property is a fantastic addition to any rental portfolio.
The duplex features two distinct layouts: one unit is a single-level, 1-bedroom, 1-bathroom space, while the other offers up to 3 bedrooms, a bonus living area upstairs, and 1.5 baths, maximizing its rental appeal. Both units provide tenant-friendly conveniences such as individual washer and dryer hookups and two designated parking spaces per unit. Recent updates, including a metal roof installed within the last two years, add to the property's low-maintenance appeal. Additionally, the neighboring rental property at 926 E Main St is also available for purchase, presenting an incredible opportunity to acquire multiple income-producing units in one area.
Located in a high-demand rental market, this property is minutes from shopping, dining, and major roadways, making it an attractive option for tenants and investors alike. Whether you're looking to expand your portfolio or make your first investment, this duplex is a rare find. Act now before this opportunity is gone!
Location
State TN
County Hamblen
Community Not In Subdivision
Area 0.2
Zoning L1
Interior
Heating Heat Pump
Cooling Central Air,Heat Pump
Laundry Electric Dryer Hookup,Washer Hookup
Exterior
Parking Features Gravel
Roof Type Metal
Building
Foundation Block
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
Schools
Elementary Schools Hillcrest
Middle Schools Meadowview
High Schools East High