M
Seller's Agent in 2022
Mia Joyce Johnson
American Realty
(423) 612-7653
38 Total Sales
506 6th St Bristol, TN 37620
Estimated Value: $335,000 - $644,000
--
Bed
--
Bath
--
Sq Ft
9,148
Sq Ft Lot
Highlights
- Traditional Architecture
- Double Pane Windows
- Patio
- Front Porch
- Window Unit Cooling System
- Tile Flooring
About This Home
As of November 2022Bring your investors.
Income producing multi family building in the heart of Bristol. Walking distance to town center, on bus route and opposite YMCA.
Building made up of 6 x 1 bedroom, 1 bathroom updated apartments at 100% occupancy with long term tenants.
New windows installed in 2022. Currently operating at 7% cap rate.
Take advantage of low rental inventory and high demand.
Commercial Bank appraisal has been completed.
Full financials available with signed NDA.
parcel id 021HA027.00 is included which sits to the rear of this property see tax record
6 Total units 2-6 rent for $700/month unit 1= $750 for. annual rent of 59,400. Owner pays for ATMOS gas, Electric water sewer and trash. Total square footage for the building is 3586. To see the layout see floor plan uploaded on the MLS
This building can be purchased together with adjacent vacant land and building at 518 6th st(see separate listing) to create a 14 apartment complex with land to extend.
Last Agent to Sell the Property
American Realty License #259956TN/0225040606VA Listed on: 09/02/2022
Last Buyer's Agent
HOLLY HUMPHREY
Greater Impact Realty Kingsport License #336635, 0225252017
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1920 | Remodeled
Lot Details
- Lot Dimensions are 59x113x58x113
- Level Lot
- Property is in good condition
Parking
- Gravel Driveway
Home Design
- Traditional Architecture
- Brick Exterior Construction
- Pillar, Post or Pier Foundation
- Block Foundation
- Plaster Walls
- Metal Roof
Interior Spaces
- 2-Story Property
- Decorative Fireplace
- Double Pane Windows
- Dirt Floor
- Range
Flooring
- Laminate
- Tile
- Vinyl
Outdoor Features
- Patio
- Front Porch
Schools
- Fairmont Elementary School
- Tennessee Middle School
- Tennessee High School
Utilities
- Window Unit Cooling System
- Chilled Water HVAC System
- Heating System Uses Natural Gas
Community Details
- 6 Units
Listing and Financial Details
- Assessor Parcel Number 021 H A 030.00
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 2, 2022
Closed on
Nov 15, 2022
Sold by
Color Houses Group Inc
Bought by
Fair Adam R
Seller's Agent
Mia Joyce Johnson
American Realty
Buyer's Agent
HOLLY HUMPHREY
Greater Impact Realty Kingsport
List Price
$430,000
Sold Price
$385,000
Premium/Discount to List
-$45,000
-10.47%
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
$81,546
Avg. Annual Appreciation
7.97%
Original Mortgage
$327,250
Outstanding Balance
$307,333
Interest Rate
6.94%
Mortgage Type
New Conventional
Estimated Equity
$170,963
Purchase Details
Closed on
Jul 29, 2021
Sold by
Talbert Richard Steve and Talbert Richard Andrew
Bought by
Color Houses Group Inc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Fair Adam R | $385,000 | -- | |
| Color Houses Group Inc | $650,000 | Evergreen Ttl & Closing Llc |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Fair Adam R | $327,250 | |
| Previous Owner | Color Houses Group Inc | $400,000 | |
| Previous Owner | Talbert Richard S | $132,000 | |
| Previous Owner | Talbert Phyllis Jean | $35,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/17/2022 11/17/22 | Sold | $385,000 | -10.5% | -- |
| 09/15/2022 09/15/22 | Pending | -- | -- | -- |
| 09/02/2022 09/02/22 | For Sale | $430,000 | -- | -- |
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 |
|---|---|---|---|---|
| 2024 | -- | $92,000 | $5,000 | $87,000 |
| 2023 | $4,041 | $92,000 | $5,000 | $87,000 |
| 2022 | $2,769 | $63,040 | $2,840 | $60,200 |
| 2021 | $2,769 | $63,040 | $2,840 | $60,200 |
| 2020 | $2,353 | $63,040 | $2,840 | $60,200 |
| 2019 | $2,353 | $49,720 | $2,840 | $46,880 |
| 2018 | $2,343 | $49,720 | $2,840 | $46,880 |
| 2017 | $2,343 | $49,720 | $2,840 | $46,880 |
| 2016 | $2,465 | $51,080 | $2,840 | $48,240 |
| 2014 | $2,324 | $51,020 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Mia Joyce Johnson
-
H
Buyer's Agent in 2022
HOLLY HUMPHREY
Greater Impact Realty Kingsport
-
M
Buyer Co-Listing Agent in 2022
Maci West
Greater Impact Realty Kingsport
Map
Source: Tennessee/Virginia Regional MLS
MLS Number: 9942986
APN: 021H-A-030.00
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