1004 Derwood Ct Kingsport, TN 37660

4 PLEX offering 4 -1 bedroom, 1 bath units. Each unit offers kitchen/living room combo along with a bedroom and bath. The basement two units have been combined into 1 unit currently but could be converted back into 2 separate units. One of the units in the basement is partially gutted and has not been redone completely. Renters pay for their own power and landlord pays their own water & sewer bill. Units offer ceiling heat, baseboard heat or space heaters and A/C would be window units. Each unit has a washer/dryer hookup with the exception of 1 of the main floor units only has a washer hookup. Renters are on a month to month lease on main level and owner occupies the basement area. Rents are upstairs $450 & $495 and basement area would be $650 if current owner stays = $1595. Yearly gross income is $19,140 based on the above -$2498 Insurance-$1652 taxes-$1440 average water bill yearly= $13,550 / list price of $99,900 = 13% cap rate. Per seller new roof in 2019, new porch beams & trim & columns for top units. New deck & porch on upper units in 2020. New windows in the bottom units, new floors in bottom units, new lower cabinets in apt 3. New bathroom in apt 3, cabinets, floor, med cabinet, toilet. Apt 4 has new floors, new walls, new bathroom.