A
Seller's Agent in 2020
AMY MITCHELL
Red Door Agency
(423) 335-4898
80 Total Sales
1201 Fairmount Ave Bristol, VA 24201
Estimated Value: $253,000 - $300,041
4
Beds
3
Baths
1,934
Sq Ft
$145/Sq Ft
Est. Value
Highlights
- Open Floorplan
- Double Pane Windows
- Bungalow
- Porch
- Window Unit Cooling System
- Forced Air Heating and Cooling System
About This Home
As of October 2020Opportunity 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.
Property Details
Home Type
- Multi-Family
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
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 McMahan
Crossroads Realty
List Price
$165,000
Sold Price
$155,000
Premium/Discount to List
-$10,000
-6.06%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$124,510
Avg. Annual Appreciation
11.86%
Original Mortgage
$152,192
Outstanding Balance
$135,367
Interest Rate
2.9%
Mortgage Type
FHA
Estimated Equity
$144,143
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
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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 | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 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
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 |
|---|---|---|---|---|
| 2025 | $2,677 | $287,800 | $16,000 | $271,800 |
| 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
-
AMY MITCHELL
-
Leah McMahan
L
Buyer's Agent in 2020
Leah McMahan
Crossroads Realty
(830) 928-1896
439 Total Sales
-
Jim Griffin
Buyer's Agent in 2020
Jim Griffin
LPT Realty - Griffin Home Group
(423) 302-0333
984 Total Sales
-
R
Buyer's Agent in 2020
Rick Gray
Berkshire Hathaway HomeServices Realty Center
Map
Source: Tennessee/Virginia Regional MLS
MLS Number: 9907312
APN: 26-5-1-14
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