TN
Carter
Roan Mountain
37687
8703 Off Highway 19e
8703 Off Highway 19e, Roan Mountain, TN 37687
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Listing Type
Multi Family
Listing Status
Active
0
$1,700,000

Home Details for 8703 Off Highway 19e

Price
$1,700,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
1996
Lot size acres
3.47
County
Carter
Garage
Days on site
0
MLS Listing#
9989263
Property Description

Turnkey rental portfolio in Roan Mountain featuring 5 buildings making up 12 units across Hwy 19E and the Eddie Lane cluster, delivering 100% occupancy and consistent cash flow. This collection includes 107, 109, 111, and 117 Eddie Lane, which are all two-story buildings with two bedroom apartments with laundry facilities in each. About 800+ sq ft each. Tenants pay utilities. Income average is $1,030.00 = $8,240 per month. The 5th building is 8703 Hwy 19E, which is the single story building with 4 three-bedroom apartments also with their own laundry facilities. Tenants pay utilities. Average income $1,285.00 = $4,980 per month. Total Income for the property is $158,640 per year. Expenses include Taxes ($6000), Insurance ($6500), Garbage ($2200), CapEx upgrades ($5000) Total. $19,000 Net profit $139,640. Currently owner manages property. So add Property Management Fees of 8% ($12,000) to Expenses for NOI of $128,000, which equates to a 7.5% cap rate. The portfolio offers steady rents, a proven tenant base, and practical layouts that minimize turnover and maintenance costs. Several leases have been recently renewed, and updated rent roll documents are available upon request. Roan Mountain remains an undersupplied rental market with strong year-round demand from local workforce tenants, proximity to outdoor recreation, and limited competing inventory. These properties sit minutes from Highway 19E, grocery, schools, and employers, reducing vacancy exposure and improving operational efficiency. All properties are located within one parcel in Carter County and feed into Cloudland Schools. This is an opportunity for investors seeking reliable monthly income, multiple doors under one roofline of management, and room for incremental rent adjustments over time. Financials, rent roll, and lease copies available. Located in a FEMA-designated flood zone, this multifamily investment currently carries an active flood insurance policy, providing buyer confidence and compliance with lender requirements. Prospective purchasers should be aware that flood insurance premium costs are a factor in the operating budget and may vary based on lender requirements, coverage level, and future flood zone map changes. Buyers are encouraged to consult with their insurance agent and lender regarding flood insurance costs, coverage options, and any necessary updates or elevation certificates. Buyer and Buyer Agent to Verify Information.

Property Features
  • Heating Information
    • Central
    • Electric
    • Heat Pump
  • Cooling Information
    • Central Air
    • Heat Pump
  • Utilities
    • Electricity Connected
    • Water Connected
  • Water Features
    • Public
  • Parking
    • Asphalt
School Information
School Information for 8703 Off Highway 19e, Roan Mountain, TN 37687
Elementary School
Cloudland
Middle School
Cloudland
High School
Cloudland
Listing Courtesy: KW Johnson City - 423-433-6500
Presented by: Ryan & Sarah McKinney
The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Tennessee Virginia Regional MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than EXIT Realty, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright ©2025 Tennessee Virginia Regional MLS. All Rights Reserved.
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Market statistics compiled from data from Tennessee Virginia Regional MLS.
EXIT REALTY TRI-CITIES
1604 Lamons Lane #201, Johnson City, TN 37604
Office
423 806 0400
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