1987 Joe Stephens Road, Morristown, TN 37814

$255,000
3
BD
2
BA

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List Price
$255,000
Price Change
▼ $5,000 1778781986
MLS#
708974
Status
ACTIVE
Type
Multifamily
City
Morristown
County
Hamblen
Bedrooms
3
Bathrooms
2
Lot Size
37,897
Year Built
1952

Property Description

This income-producing property generates a combined monthly rental income of $1,950, delivering immediate cash flow for investors from day one. Currently configured as a duplex with both apartments sharing electric and water meters, the setup supports efficient operation while maintaining strong rental performance. Offering both convenience and long-term flexibility, this property presents a solid opportunity for steady income and future upside. The versatile layout allows investors to continue operating the home as a multi-family rental or convert the property into a single-family residence with a private mother-in-law suite for added value. Additional features include a fenced backyard area and rear patio, enhancing tenant desirability and outdoor living space. With strong rental functionality and multiple possibilities for future use, this property presents an attractive opportunity for both seasoned investors and owner-occupants seeking supplemental income. Please contact the listing agent to schedule all showings.

Additional Information

Acres
0.87
Appliances
Dryer, Dishwasher, Electric Oven, Electric Range, Refrigerator, Washer
Cooling
Central Air, Ceiling Fan(s), Wall Unit(s)
Exterior Features
Balcony, Rain Gutters
Year Built
1952

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Calculator source: Real Geeks

Agent: Trey Cate |

Office: The Cate Group, Realty & Property Management LLC |