Courtesy: Southland Realtors, Inc
865-693-6961
Income-producing property with a 6% cap rate at current rents. Potential exists to improve returns with future rent adjustments; increasing the second unit to approximately $1,500/month could bring the cap rate closer to 7%. Buyer to verify all income, expenses, and projections. Brick duplex in a great Lenoir City location just off Martel Rd. Fully rented with a newer metal roof and covered carports for each unit. Each 2-bedroom unit features central HVAC, washer/dryer connections, and tenants pay all utilities including water. Unit 1 renovated approx. 3 years ago; property updates approx. 10 years ago include kitchens, flooring, roof, and windows. Located approx. 1 mile from Lenoir City Park with dog park, playgrounds, boat launch, and minutes to Loudon Marina and Calhoun's. Strong investment opportunity.
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Lenoir City is located in Tennessee. Lenoir City, Tennessee has a population of 9,953. Lenoir City is more family-centric than the surrounding county with 27.02% of the households containing married families with children. The county average for households married with children is 23.03%.
The median household income in Lenoir City, Tennessee is $51,296. The median household income for the surrounding county is $66,151 compared to the national median of $69,021. The median age of people living in Lenoir City is 34.4 years.
The average high temperature in July is 88.5 degrees, with an average low temperature in January of 28.2 degrees. The average rainfall is approximately 52.5 inches per year, with 6.2 inches of snow per year.
