39
Map
516 Thomas Rd
About This Property
Home 1 is 2200 sq ft
Home 2 is 1144 sq ft.
Nestled on over three acres in a picturesque country setting, this unique property offers the perfect blend of privacy, versatility, and convenience. Featuring two beautifully updated homes, it's ideal for multi-generational living, rental income, or an investment opportunity.
Home One welcomes you with a charming, inviting front porch--perfect for relaxing and taking in the peaceful surroundings. Inside, you'll find a thoughtfully updated 4-bedroom, 2-full bath layout with durable laminate wood and carpet flooring throughout, creating a seamless, low-maintenance living space and has a handicap accessible ramp.
Home Two is a well-maintained ranch-style residence offering comfort and functionality, complete with a screened-in porch for enjoying the outdoors year-round. Laminate, ceramic, and carpet throughout. This home features 3 bedrooms and 2 full baths, along with numerous updates that make it move-in ready.
The expansive acreage provides endless possibilities--whether you're looking to bring your horses, start a small homestead, or simply enjoy the extra space and privacy.
All of this is just minutes from local shopping, dining, and Lincoln Memorial University, as well as the charm of the historic Cumberland Gap area. Outdoor enthusiasts will love the close proximity to hiking trails, park, lakes, and rivers.
If you've been searching for a property that offers flexibility, natural beauty, and convenience, this one truly has it all.
Survey on file.
*Buyer to verify all information including but not limited to acreage, square footage and taxes.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 24, 2026 | Price Decreased |
$348,300
↓ $10K
(2.8%) | |
| Price Decreased | |||
| Oct 4, 2026 | Price Decreased |
$358,300
↓ $20K
(5.3%) | |
| Price Decreased | |||
| May 1, 2026 | Listed by Mountain Realty | $378,300 | |
| Listed by Mountain Realty | |||
| May 8, 2021 | No longer available | - | |
| No longer available | |||
| May 1, 2021 | Relisted | $219,900 | |
| Relisted | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017