Turnkey Rental

131 Captain Avenue, Elizabethton, TN

12.50% return

SP: $180,000

Video Photos Street View Map

The slide show is now full screen. Push Escape to exit. You can use the left/right arrows and Home/End buttons to navigate the images.

Property Description

Great 5plex!

Renovated apartments. 3 x 2bed/1bath and 2 x 1bed/1bath units. Beautiful area, in the mountains! All brick. Separate electric and water meters. Rents need to be increased, as they are rented below market. Huge rental demand in the area. Do not miss out on this opportunity.

Property management in place. Financing is available!

Property Information

Listing statusSold
Property typeMulti Family
Total units5
Total bedrooms8
Total bathrooms5
Building size3850 sq. ft.
Lot size0.8 acres
Year built1966

CountyCarter County
Subdivision
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSeptic
HeatingWall unit
CoolingWindow A/C

Property Financial Summary

Sale price$180,000
Estimated rehab¹$0
Total investment$180,000

TypeProforma

Gross income (annually)$30,600
Operating expenses (annually)$8,099
Net income (annually)$22,501
Gross return17.00%

Gross income (monthly)$2,550
Operating expenses (monthly)$675
Net income (monthly)$1,875
Net return12.50%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$550/month$6,600/year
Unit 2: 2 bed / 1 bath$550/month$6,600/year
Unit 3: 2 bed / 1 bath$550/month$6,600/year
Unit 4: 1 bed / 1 bath$450/month$5,400/year
Unit 5: 1 bed / 1 bath$450/month$5,400/year
Total$2,550/month$30,600/year

Expenses

Waste Collection$111/month$1,332/year
Insurance$171/month$2,056/year
Water bill$20/month$240/year
Electric bill$40/month$480/year
Property Management$190/month$2,280/year
Property Taxes$143/month$1,711/year
Total$675/month$8,099/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.