NOT LISTED FOR SALE

206 Gay St Unit 7 Erwin, TN 37650

Estimated Value: $231,741

-- Bed
3 Baths
-- Sq Ft
52 Acres

Last Sold August 19, 2013

Last sale price $115,000

Est. 102% increase in value since last sale

Current estimated payment $1,549/month

19 Days on Market

Highlights

  • Wood Flooring
  • Cooling System Mounted In Outer Wall Opening
  • Central Heating and Cooling System
  • Eat-In Kitchen
  • Entrance Foyer
  • 1-minute walk to Erwin Skate Park

About This Home

As of August 2013

Own income producing historic building in downtown Erwin. Building includes: Two retail storefronts, three apartments and two storage rooms. High occupancy rate, low maintenance, several long term tenants. Square footage approximately 7760 total, 2330 sq.ft. each store fronts, the apartments and two storage rooms are 3100 sq.ft. Appliances included in each apartment are: Stove, refrigerator, microwave, no washer and dryer hookups. Store front rent $850/mo both. Utilities paid by tenant.Apartment #1: 2 bedroom, 1 bath. Rent $550/mo. including utilities. Occupied.Apartment #2: 1 bedroom, 1 bath. Rent $475/mo.including utilities. Occupied.Apartment #3: 1 bedroom, 1 bath(detached). Rent $375/mo. including utilities. Not occupied.Gross income $27000/year. Yearly utilities $5213

Last Agent to Sell the Property

GREGORY OSTROVSKY

REALTY EXECUTIVES BRISTOL Listed on: 05/17/2013

Last Buyer's Agent

Karen Shelton- Tenn

Property Executives Johnson City License #300115

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,355

Year Built

  • Built in 1910

Lot Details

  • Lot Dimensions are 52x91
  • Level Lot
  • Property is in average condition

Home Design

  • Brick Exterior Construction
  • Plaster Walls

Interior Spaces

  • 2-Story Property
  • Entrance Foyer
  • Crawl Space
  • Fire and Smoke Detector

Kitchen

  • Eat-In Kitchen
  • Electric Range
  • Microwave
  • Laminate Countertops

Flooring

  • Wood
  • Vinyl

Schools

  • Rock Creek Elementary School
  • Unicoi Co Middle School
  • Unicoi Co High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Central Heating and Cooling System
  • Baseboard Heating

Community Details

  • Utility Expense $5,213
  • Gross Income $27,000
  • Net Operating Income $20,179

Listing and Financial Details

  • Assessor Parcel Number 023N W 002.03

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,355

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Directions: From Johnson City: Take I-26 East toward Asheville. Take TN81/TN107 exit, turn left at the exit ramp, take right onto Main Ave., take left onto Gay st. Building on your right.
  • Prop. Type: Residential Income
  • Year Built: 1910
  • IncomeAndExpensesAnnualUtilityExpenses: 5213
  • Property Sub Type: Multi-Family
  • Unit Levels: Two
  • New Construction: No
  • Location Tax Legal Info Parcel ID: 023N W 002.03
  • Contract Info Foreclosure: No
  • Contract Info Short Sale: No
  • Contract Info Auction: No
  • General Property Description Zoning2: Commercial
  • General Property Description Elementary School3: Rock Creek
  • General Property Description Middle School2: Unicoi Co
  • General Property Description High School3: Unicoi Co
  • Water Public: Yes
  • Sewer Public Sewer: Yes
  • General Property Description Lot Dimensions: 52X91
  • AC Central Air: Yes
  • Appliances Microwave: Yes
  • Appliances Refrigerators: Yes
  • TopographyLot Description Level2: Yes
  • Flooring Hardwood: Yes
  • General Property Description Stories2: 2
  • Flooring Vinyl: Yes
  • Walls Plaster: Yes
  • Property Condition Average: Yes
  • AC Wall Unit(s): Yes
  • General Property Description # Buildings: 1
  • Levels:Two: Yes
  • Special Features: None

Interior Features

  • Appliances: Electric Range, Microwave, Refrigerator
  • Has Basement: Crawl Space
  • Flooring: Vinyl, Hardwood
  • Interior Amenities: Eat-in Kitchen, Entrance Foyer, Laminate Counters, Smoke Detector(s)
  • Interior Features:Eat-in Kitchen: Yes
  • InteriorFeatures:Smoke Detector(s): Yes
  • Interior Features:Laminate Counters: Yes
  • Interior Features:Entrance Foyer: Yes
  • Appliances:Electric Range: Yes
  • Basement:Crawl Space: Yes

Exterior Features

  • Property Condition: Average
  • Lot Features: Level
  • Exterior Features: Sidewalk
  • Construction Type: Brick, Plaster
  • Exterior Finish Brick4: Yes

Utilities

  • Heating: Central, Baseboard
  • Sewer: Public Sewer
  • Cooling: Central Air, Wall Unit(s)
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Central: Yes
  • Heating:Baseboard: Yes

Schools

  • Elementary School: Rock Creek
  • High School: Unicoi Co
  • Middle Or Junior School: Unicoi Co

Lot Info

  • Zoning: Commercial
  • Lot Dimensions: 52X91
  • Parcel #: 023N W 002.03

Multi Family

  • Annual Gross Income: 27000.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 17, 2013
Closed on
Aug 19, 2013
Sold by
Hirst Jon D
Bought by
Rice Matthew K and Rice Jamie G
Seller's Agent
GREGORY OSTROVSKY
REALTY EXECUTIVES BRISTOL
Buyer's Agent
Karen Shelton- Tenn
Property Executives Johnson City
List Price
$139,000
Sold Price
$115,000
Premium/Discount to List
-$24,000
-17.27%
Current Estimated Value
$231,741

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$116,741
Avg. Annual Appreciation
8.29%

Purchase Details

Closed on
Oct 3, 2005
Sold by
Surrey Estates Incorporate
Bought by
Hirst Jon D
Source: Public Records

Range of Values:

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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
Rice Matthew K $115,000 --
Hirst Jon D $125,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rice Matthew $200,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/19/2013 08/19/13 Sold $115,000 -17.3% --
06/06/2013 06/06/13 Pending -- -- --
05/17/2013 05/17/13 For Sale $139,000 -- --
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 $3,355 $128,520 $13,840 $114,680
2023 $3,355 $128,520 $0 $0
2022 $5,015 $128,520 $13,840 $114,680
2021 $3,326 $70,520 $13,840 $56,680
2020 $3,182 $70,520 $13,840 $56,680
2019 $3,182 $70,000 $13,840 $56,160
2018 $2,902 $70,000 $13,840 $56,160
2017 $2,892 $70,000 $13,840 $56,160
2016 $2,088 $51,000 $7,920 $43,080
2015 $1,919 $51,000 $0 $0
2014 $1,919 $51,000 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2013

    GREGORY OSTROVSKY

    REALTY EXECUTIVES BRISTOL

  • K

    Buyer's Agent in 2013

    Karen Shelton- Tenn

    Property Executives Johnson City

    5 in this area

    17 Total Sales

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Map

Source: Tennessee/Virginia Regional MLS

MLS Number: 333792

Tennessee/Virginia Regional MLS

APN: 023N-W-00203-000

Tennessee Unicoi County Erwin 37650

206 Gay St Unit 7, Erwin, TN

This home is located at 206 Gay St Unit 7, Erwin, TN 37650 since 17 May 2013 and is currently estimated at $231,741. This property was built in 1910. 206 Gay St Unit 7 is a home located in Unicoi County with nearby schools including Rock Creek Elementary School, Unicoi County Middle School, and Unicoi County High School.

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