NOT LISTED FOR SALE

1500 Bell Ridge Rd Unit 41 Johnson City, TN 37601

Estimated Value: $2,773,642 - $3,035,000

-- Bed
41 Baths
-- Sq Ft
5.2 Acres

Last Sold August 20, 2018

Last sale price $1,450,000

Est. 100% increase in value since last sale

Current estimated payment $16,602/month

230 Days on Market

Highlights

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Carpet
  • Liberty Bell Middle School Rated A

About This Home

As of August 2018

A great investment property with return on investment! Rare find, 41 units all 1 bedroom with good track record. Priced at 1,500,000. Returns at 11.58% cap. rate which is strong in any market. Buildings are brick exterior with architectural shingle roofs. Listing Agent is also owner. Contact listing Agent directly with all inquiries. Listing Agent is also owner.

Last Agent to Sell the Property

MARK DISHMAN II

Crye-Leike Realtors Listed on: 12/01/2017

Crye-Leike Realtors

Last Buyer's Agent

CHRISTOPHER BYRNE

Crye-Leike Realtors

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,709

Year Built

  • Built in 1980

Lot Details

  • 5.2 Acre Lot
  • Sloped Lot
  • Property is in good condition

Home Design

  • Brick Exterior Construction
  • Shingle Roof

Kitchen

  • Electric Range
  • Laminate Countertops

Flooring

  • Carpet
  • Vinyl

Schools

  • Boones Creek Elementary And Middle School
  • Science Hill High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Cable TV Available

Additional Features

  • 2-Story Property
  • Breezeway

Listing and Financial Details

  • Assessor Parcel Number 047 P E 003.00
  • Tax Block 3

Community Details

Overview

  • 2 Buildings

Building Details

  • Utility Expense $37,536
  • Operating Expense $61,333
  • Gross Income $235,140
  • Net Operating Income $173,807

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,709

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Directions: Take Market St. exit from I-26 East. Turn left off exit and right onto Legion St. Left onto King Springs Rd. Left on Bell Ridge Rd. property on left.
  • Prop. Type: Residential Income
  • Year Built: 1980
  • IncomeAndExpensesAnnualUtilityExpenses: 37536
  • Property Sub Type: Other
  • Unit Levels: Two
  • New Construction: No
  • Location Tax Legal Info Parcel ID: 047 P E 003.00
  • Contract Info Foreclosure: No
  • Contract Info Short Sale: No
  • Contract Info Auction: No
  • General Property Description Acres: 5.2
  • General Property Description Zoning2: RS
  • General Property Description Elementary School3: Boones Creek
  • General Property Description Middle School2: Boones Creek
  • General Property Description High School3: Science Hill
  • Property Condition Above Average: Yes
  • Water Public: Yes
  • Sewer Public Sewer: Yes
  • General Property Description Lot Dimensions: 5.2 acres
  • Appliances Refrigerators: Yes
  • Roof Shingle: Yes
  • TopographyLot Description Sloped: Yes
  • Flooring Carpet: Yes
  • Utilities Cable Available: Yes
  • Location Tax Legal Info Block: 3
  • Flooring Vinyl: Yes
  • AC Wall Unit(s): Yes
  • General Property Description # Buildings: 2
  • Levels:Two: Yes
  • Special Features: None

Interior Features

  • Appliances: Electric Range, Refrigerator
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Laminate Counters
  • Interior Features:Laminate Counters: Yes
  • Appliances:Electric Range: Yes

Exterior Features

  • Property Condition: Above Average
  • Roof: Shingle
  • Lot Features: Sloped
  • Acres: 5.2
  • Construction Type: Brick
  • Patio And Porch Features: Breezeway
  • Exterior Finish Brick4: Yes
  • PorchPatioDeck Breezeway: Yes

Garage/Parking

  • Parking Features: Asphalt, Parking Spaces
  • Attached Garage: No
  • Parking Features:Asphalt2: Yes
  • Parking Features:Parking Spaces: Yes

Utilities

  • Heating: Baseboard
  • Sewer: Public Sewer
  • Utilities: Cable Available
  • Cooling: Wall Unit(s)
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Baseboard: Yes

Schools

  • Elementary School: Boones Creek
  • High School: Science Hill
  • Middle Or Junior School: Boones Creek

Lot Info

  • Zoning: RS
  • Lot Dimensions: 5.2 acres
  • Lot Size Sq Ft: 226512.0
  • ResoLotSizeUnits: Acres
  • Parcel #: 047 P E 003.00
  • ResoLotSizeUnits: Acres

Multi Family

  • Annual Gross Income: 235140.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 1, 2017
Closed on
Aug 20, 2018
Sold by
Dishman Ii Mark Boyd and Dishman Elizabeth A
Bought by
Ea Sip Tn Holdings Llc
Seller's Agent
MARK DISHMAN II
Crye-Leike Realtors
Buyer's Agent
CHRISTOPHER BYRNE
Crye-Leike Realtors
List Price
$1,500,000
Sold Price
$1,450,000
Premium/Discount to List
-$50,000
-3.33%
Current Estimated Value
$2,904,321

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,454,321
Avg. Annual Appreciation
10.00%

Purchase Details

Closed on
Feb 29, 2008
Bought by
Dishman Mark Boyd and Dishman Elizabeth A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,864,900
Interest Rate
5.63%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 8, 1998
Bought by
Street Phil A and Street Suzanne C

Purchase Details

Closed on
Nov 30, 1983
Bought by
Ritchie Chris and Ritchie George F
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
Ea Sip Tn Holdings Llc $1,450,000 None Available
Dishman Mark Boyd $2,194,000 --
Street Phil A $945,000 --
Ritchie Chris $720,200 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ritchie Chris $1,864,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/20/2018 08/20/18 Sold $1,450,000 -3.3% --
07/20/2018 07/20/18 Pending -- -- --
12/01/2017 12/01/17 For Sale $1,500,000 -- --
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 $15,709 $918,680 $83,960 $834,720
2022 $12,395 $576,520 $69,480 $507,040
2021 $22,369 $576,520 $69,480 $507,040
2020 $22,253 $576,520 $69,480 $507,040
2019 $10,806 $576,520 $69,480 $507,040
2018 $19,388 $454,080 $23,960 $430,120
2017 $19,388 $454,080 $23,960 $430,120
2016 $19,297 $454,080 $23,960 $430,120
2015 $16,346 $454,080 $23,960 $430,120
2014 $16,346 $454,080 $23,960 $430,120
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2018

    MARK DISHMAN II

    Crye-Leike Realtors

    (423) 737-0001

    23 Total Sales

    MARK DISHMAN II
    Section Image

  • C

    Buyer's Agent in 2018

    CHRISTOPHER BYRNE

    Crye-Leike Realtors

See All Agents

Map

Source: Tennessee/Virginia Regional MLS

MLS Number: 400174

Tennessee/Virginia Regional MLS

APN: 047P-E-003.00

Tennessee Washington County Johnson City 37601

1500 Bell Ridge Rd Unit 41, Johnson City, TN

Not Listed for Sale

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