1241 Virginia Ave Bristol, TN 37620
Property details
About 1241 Virginia Ave
This turn-key multifamily property features two beautifully renovated spaces, offering a fantastic investment opportunity in a desirable location. The main home, a 1939 bungalow, boasts timeless appeal with modern touches. Enjoy open-concept living with a brick fireplace, new flooring, and a stunning kitchen with stainless-steel appliances and butcher block countertops. Three bedrooms, including a primary suite with en suite bath, offer comfortable living. Two covered porches provide breathtaking city views. The guest house, situated behind the main home, is a spacious retreat with a large garage, full kitchen, and two bedrooms. Additional features include: Renovated full bath New appliances and fixtures throughout New carpet in bedrooms Spacious living room Recent updates include a new roof, HVAC, and electrical system, minimizing future maintenance for the new owner. Financial Highlights: Annual Revenue: $32,400 ($1,500 x 12 for the front unit + $1,200 x 12 for the rear unit) Monthly Revenue: $2,700 Expenses: Insurance: $600 annually Taxes: $700 annually Maintenance: $1,620 (5% of annual revenue) Total: $2,920 annually Assumptions: 5% vacancy rate factored into revenue calculations Tenants cover utilities (electric, water, and trash) Cap Rate: 7%, indicating a desirable return for the area Valuation: Based on the 7% cap rate, the property is valued at approximately $400,000 Located just minutes from downtown Bristol, with easy access to King University, the Paramount Center for the Arts, and Steele Creek Park. Both units are on one-year leases, providing a stable income stream for the new owner.
Highlights
Summary
- Appliances: Electric Range, Refrigerator
- Basement: Yes
- Flooring Type: Luxury Vinyl, Carpet
- Interior: Built-in Features, Remodeled, Restored
- Attached Garage: No
- Parking: Asphalt
- Exterior: Porch Front, Porch
- Architectural Style: Bungalow, See Remarks
- Heating: Central
- Cooling: Central Air
- List Price: $359,900
- Annual Tax Amount: $747
- Tax Year: 2022
- Directions: Turn left onto Hwy 11 E Keep left to continue on US-11E N/Hwy 11 E Take the TN-394 exit toward TN-390/Bluff City/Blountville/Bristol Dragway Turn right onto TN-394 E (signs for Bluff City/TN-390 S) Turn left onto Carl Moore Pkwy Continue onto Virginia Ave
- Year Built: 1939
- Lot Size: 0.34 Acres
- MLS Number: 9980521
- MLS Name: Tennessee/Virginia Regional MLS
- Office Name: eXp Realty, LLC
- Office Phone: (888) 519-5113
- Office Email: tn.broker@exprealty.net
- Listing Agent: Cory Parsons
The data relating to real estate for sale on this web site 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 this brokerl, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Copyright© 2025 Tennessee Virginia Regional MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/21/2025, 7:20:34 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$359,900
1241 Virginia Ave
$4,274
closing credit¹
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Aug 14, 2024 | Home Sold | $100,000 |
| May 29, 2013 | Home Sold | $46,800 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $17,000 | $- |
| 2022 | $17,000 | $747 |
| 2021 | $17,000 | $747 |
| 2020 | $17,000 | $747 |
| 2019 | $16,000 | $754 |
| 2018 | $16,000 | $754 |
| 2017 | $16,000 | $916 |
History based on county public records data.
Nearby schools
4
Fairmount Elementary School
Public District PK-5
0.4 mi
•821 Virginia Ave
5
Anderson Elementary School
Public District PK-5
1.3 mi
•901 9th St
6
Haynesfield Elementary School
Public District PK-5
1.3 mi
•201 Bluff City Hwy
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $46,653. The majority of Bristol, TN residents have income between $35k-100k annually. The majority of families are single, no kids. Typical level of education for residents in this area is post secondary degree.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Pro Boxing
NHRA Drag Racing
Horse Races
Where do the neighbors shop?
Family Dollar
Big Lots
Stein Mart
Where do the neighbors go to eat?
White Castle
Golden Corral
LongHorn Steakhouse
What do the neighbors drive?
Chevrolet
Kia
Buick
What do the neighbors listen to?
Rock
Adult Standards
Contemporary Inspirational
Frequently asked questions
Living in Bristol, TN
Bristol's transport infrastructure includes a network of roads and highways that facilitate travel and commuting within the city and to neighboring areas. Public transit options are available, providing residents with alternatives to private vehicle use. The community's walkability varies across different neighborhoods, with some areas being more pedestrian-friendly than others. Bikeability is also a focus, with efforts to improve cycling infrastructure for residents. While specific ride-sharing services are operational in the city, their availability may differ throughout the area.
Residents of Bristol benefit from a solid educational system, with a number of public and private schools providing a range of educational opportunities. The city is home to several healthcare facilities, offering services that include urgent care, primary care, and emergency response capabilities. The public library network serves as a valuable resource for the community, and the city's retail and dining establishments reflect the local culture and provide a variety of experiences. City initiatives are in place to continually improve services in line with the evolving needs of the population.
Bristol is celebrated for its vibrant community spirit and rich cultural heritage, which is especially evident during local events and festivals that draw residents together. The city prides itself on its historical significance and the role it plays in the music industry, often referred to as the birthplace of country music. The community's ambiance is one of pride and tradition, with a lifestyle that balances the charm of a small town with the conveniences of a larger city.
The housing landscape in Bristol, Tennessee, is characterized by a mix of architectural styles, with single-family homes being a significant part of the market. There is a presence of modern, traditional, and craftsman designs, reflecting the area's architectural diversity. The housing market also includes apartments and townhouses, accommodating a range of living preferences. A notable portion of the housing stock was developed from the 1980s to the early 2000s, marking a period of growth. The homeownership rate in Bristol is robust, with a substantial percentage of residents owning their homes, while the remainder are engaged in the rental market.
About 1241 Virginia Ave
This home is located at 1241 Virginia Ave in Bristol, TN and zip code 37620. Features: 0 bathroom. It has been listed on Rocket Homes since May 21, 2025 and is currently priced at $359,900.
In April 2025, from all listings sold in Bristol, TN there were more than 14 sold above asking price, over 24 sold below and more than 5 were sold right at the asked price. The number of listings in Bristol, TN increased by 11.5% between March and April 2025. In April 2025 median list price was $250,000 and the average listing age was 79 days.