1241 Virginia Avenue, Bristol, TN 37620
Local realty services provided by:CENTURY 21 Legacy
1241 Virginia Avenue,Bristol, TN 37620
$359,900
- - Beds
- - Baths
- 2,778 sq. ft.
- Multi-family
- Pending
Listed by: cory parsons
Office: exp realty, llc.
MLS#:9987583
Source:TNVA_MLS
Price summary
- Price:$359,900
- Price per sq. ft.:$129.55
About this home
This turn-key multifamily property features two beautifully renovated spaces, offering a fantastic investment opportunity in a desirable location. The main home, a 1939 bungalow, boasts timeless appeal with modern touches. Enjoy open-concept living with a brick fireplace, new flooring, and a stunning kitchen with stainless-steel appliances and butcher block countertops. Three bedrooms, including a primary suite with en suite bath, offer comfortable living. Two covered porches provide breathtaking city views. The guest house, situated behind the main home, is a spacious retreat with a large garage, full kitchen, and two bedrooms. Additional features include: Renovated full bath New appliances and fixtures throughout New carpet in bedrooms Spacious living room Recent updates include a new roof, HVAC, and electrical system, minimizing future maintenance for the new owner. Financial Highlights: Annual Revenue: $32,400 ($1,500 x 12 for the front unit + $1,200 x 12 for the rear unit) Monthly Revenue: $2,700 Expenses: Insurance: $600 annually Taxes: $700 annually Maintenance: $1,620 (5% of annual revenue) Total: $2,920 annually Assumptions: 5% vacancy rate factored into revenue calculations Tenants cover utilities (electric, water, and trash) Cap Rate: 7%, indicating a desirable return for the area Valuation: Based on the 7% cap rate, the property is valued at approximately $400,000 Located just minutes from downtown Bristol, with easy access to King University, the Paramount Center for the Arts, and Steele Creek Park. Both units are on one-year leases, providing a stable income stream for the new owner
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Home facts
- Year built:1939
- Listing ID #:9987583
- Added:47 day(s) ago
- Updated:November 15, 2025 at 08:44 AM
Rooms and interior
- Living area:2,778 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central
Structure and exterior
- Year built:1939
- Building area:2,778 sq. ft.
- Lot area:0.34 Acres
Schools
- High school:Tennessee
- Middle school:Vance
- Elementary school:Fairmount
Utilities
- Water:At Road, Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$359,900
- Price per sq. ft.:$129.55
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