NOT LISTED FOR SALE

1201 Fairmount Ave Bristol, VA 24201

Estimated Value: $204,000 - $260,000

4 Beds
3 Baths
1,934 Sq Ft
$123/Sq Ft Est. Value

Last Sold October 02, 2020

Last sale price $155,000 $80 Per Sq Ft

Est. 54% increase in value since last sale

Current estimated payment $1,478/month

97 Days on Market

Highlights

  • Open Floorplan
  • Double Pane Windows
  • Bungalow
  • Porch
  • Window Unit Cooling System
  • Forced Air Heating and Cooling System

About This Home

As of October 2020

Opportunity knocks! Within walking distance of Downtown Bristol and surrounding area! A beautiful, completely remodeled & turnkey investment property with immediate income generating potential! Apartment #1 enters from the welcoming front porch of this 1920's Bungalow. Offering 1 or 2 bedrooms, ample sized living room, large kitchen that includes refrigerator, electric range, dishwasher and large pantry, a laundry nook and bathroom. High ceilings add to the charm! Heating source is natural gas and a forced air furnace. Apartment #2 enters from the cozy rear entrance, with off street parking, unveiling an updated kitchen, living room, bedroom, large closet and full bathroom. A new electric heat pump installed January 2020. Apartment #3 ascends the newly reconstructed exterior stairs to a quaint loft! Enter the open concept living room andkitchen, functional bathroom, and then a large private bedroom with a large closet. Additional bonus room/storage space perfect for a bicycle, small desk workspace, or an extensive wardrobe. Package heat/AC unit added March 2020. Impressive income potential is evident, whether you choose long term rentals, Airbnb short term rentals, or you live in one unit and rent the other two, this property provides flexibility for any investor. Most recent improvements in 2020 include: new metal roof, new heat pump for apartment #2, new package unit apartment #3, major plumbing redo, new laminate wood flooring throughout, and fresh light colored paint everywhere. Location! Location! Location! Approximately a 7 minute drive to the proposed Hard Rock Resort and Casino site! Within walking distance of Walgreens Pharmacy, Food City on Euclid, many restaurants and Downtown Bristol! Home is listed on the Historic Registry. Owner/Agent. Information compiled from multiple sources and should be verified by Buyer/Buyer's Agent.

Last Agent to Sell the Property

AMY MITCHELL

RED DOOR AGENCY License #349029 Listed on: 04/27/2020

Last Buyer's Agent

Leah Edmondson

Crossroads Realty License #263654

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,754

Year Built

  • Built in 1925 | Remodeled

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Dimensions are 50x150
  • Level Lot
  • Property is in good condition

Home Design

  • Bungalow
  • Block Foundation
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 1,934 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Double Pane Windows
  • Combination Kitchen and Dining Room
  • Fire and Smoke Detector
  • Unfinished Basement

Kitchen

  • Electric Range
  • Dishwasher

Flooring

  • Laminate
  • Vinyl

Outdoor Features

  • Porch

Schools

  • Washington Lee Elementary School
  • Virginia Middle School
  • Virginia High School

Utilities

  • Window Unit Cooling System
  • Forced Air Heating and Cooling System
  • Heating System Uses Natural Gas
  • Heat Pump System

Community Details

  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 26 5 1 14
  • Tax Block 1

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,754

Year Built

Built in 1925 | Remodeled

Lot Details

0

Listing Details

  • Directions: From Commonwealth Ave turn on to Euclid Ave, then Right to Vernon Street just behind Walgreens Pharmacy . House is on the corner of Vernon St and Fairmount Ave.
  • Prop. Type: Residential Income
  • Year Built: 1925
  • Property Sub Type: Multi-Family
  • Architectural Style: Bungalow
  • Unit Levels: Two
  • New Construction: No
  • Appliances Refrigerators: Yes
  • Excluded From Sale A C Window Units: Yes
  • Special Features: None

Interior Features

  • Appliances: Dishwasher, Electric Range, Refrigerator
  • Has Basement: Unfinished
  • Flooring: Vinyl, Laminate
  • Interior Amenities: Kitchen/Dining Combo, Open Floorplan, Remodeled, Smoke Detector(s)
  • Window Features: Double Pane Windows
  • InteriorFeatures:Smoke Detector(s): Yes
  • Appliances Dishwasher: Yes
  • InteriorFeatures:Remodeled: Yes
  • Interior Features:Open Floorplan: Yes
  • Appliances:Electric Range: Yes
  • Basement:Unfinished: Yes

Exterior Features

  • Property Condition: Above Average
  • Roof: Metal
  • Lot Features: Level
  • Exterior Features: Sidewalk
  • Acres: 0.11
  • Construction Type: Vinyl Siding
  • Foundation Details: Block
  • Patio And Porch Features: Porch
  • Window Features:Double Pane Windows: Yes

Utilities

  • Heating: Natural Gas, Forced Air, Electric, Central
  • Sewer: Public Sewer
  • Cooling: Central Air, Heat Pump, Window Unit(s)
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Central: Yes
  • Heating:Electric: Yes
  • Heating:Natural Gas2: Yes
  • Heating:Forced Air: Yes

Schools

  • Elementary School: Washington Lee Elementary
  • High School: Virginia
  • Middle Or Junior School: Virginia

Lot Info

  • Zoning: Residential
  • Lot Dimensions: 50x150
  • Lot Size Sq Ft: 4791.6
  • ResoLotSizeUnits: Acres
  • Parcel #: 26 5 1 14
  • ResoLotSizeUnits: Acres

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 27, 2020
Closed on
Oct 2, 2020
Sold by
Smith Michael David and Smith Deborah S
Bought by
Wiggins Jessica
Seller's Agent
AMY MITCHELL
RED DOOR AGENCY
Buyer's Agent
Leah Edmondson
Crossroads Realty
List Price
$165,000
Sold Price
$155,000
Premium/Discount to List
-$10,000
-6.06%
Total Days on Market
97
Current Estimated Value
$238,229

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$83,229
Avg. Annual Appreciation
9.58%
Original Mortgage
$152,192
Outstanding Balance
$136,887
Interest Rate
2.9%
Mortgage Type
FHA
Estimated Equity
$101,342

Purchase Details

Closed on
Aug 28, 2019
Sold by
Linkous Mary H and Linkous Mary
Bought by
Smith Michael David and Smith Deborah S

Purchase Details

Closed on
Dec 25, 2012
Sold by
Jones Hunter R
Bought by
Linkous Theodore K
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Wiggins Jessica $155,000 Attorney
Smith Michael David $80,300 Attorney
Linkous Theodore K $46,200 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Wiggins Jessica $152,192
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/02/2020 10/02/20 Sold $155,000 -6.1% $80 / Sq Ft
08/03/2020 08/03/20 Pending -- -- --
04/27/2020 04/27/20 For Sale $165,000 -- $85 / Sq Ft
Source: Tennessee/Virginia Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,754 $156,600 $12,500 $144,100
2023 $1,832 $156,600 $12,500 $144,100
2022 $1,754 $156,600 $12,500 $144,100
2021 $1,754 $156,600 $12,500 $144,100
2020 $735 $62,800 $12,500 $50,300
2019 $735 $62,800 $12,500 $50,300
2018 $367 $62,800 $12,500 $50,300
2016 -- $70,800 $0 $0
2015 -- $0 $0 $0
2014 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2020

    AMY MITCHELL

    RED DOOR AGENCY

    (423) 335-4898

    86 Total Sales

    AMY MITCHELL
    Section Image

  • L

    Buyer's Agent in 2020

    Leah Edmondson

    Crossroads Realty

    (830) 928-1896

    481 Total Sales

    Leah Edmondson
    Section Image
  • Jim Griffin

    Buyer's Agent in 2020

    Jim Griffin

    LPT Realty - Griffin Home Group

    (423) 482-0743

    960 Total Sales

    Jim Griffin
    Section Image

  • R

    Buyer's Agent in 2020

    Rick Gray

    Berkshire Hathaway HomeServices Realty Center

See All Agents

Map

Source: Tennessee/Virginia Regional MLS

MLS Number: 9907312

Tennessee/Virginia Regional MLS

APN: 26-5-1-14

Virginia Bristol City County Bristol 24201

1201 Fairmount Ave, Bristol, VA

This home is located at 1201 Fairmount Ave, Bristol, VA 24201 since 27 April 2020 and is currently estimated at $238,229, approximately $123 per square foot. This property was built in 1925. 1201 Fairmount Ave is a home located in Bristol City with nearby schools including Virginia High School, St. Anne Catholic School, and Brookside Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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