NOT LISTED FOR SALE

1000 Karcher Rd Somerville, TN 38068

Estimated Value: $697,000

234.8 Acres
$2,968 Price per Acre
10,227,890 Sq Ft Lot

Last Sold December 11, 2020

Last sale price $1,250,000 $744 Per Sq Ft

Est. 44% decrease in value since last sale

Current estimated payment $3,743/month

20 Days on Market

About This Lot

As of December 2020

This beautiful farm offers nearly 6,000’ of road frontage with +/-173 acres on the West side and +/-62 acres the East of Karcher Rd, 2 residential dwellings that provide rental income, large pond, 2 old barns, excellent topography, and approximately 200 acres of prime income producing row crop! All conveniently located just outside the Somerville City Limits. Opportunities like this don’t come around often, prime location, the possibilities are endless! List price is $1.4 million.

Last Agent to Sell the Property

Will Bowling

Fayette Realty, LLC License #244119 Listed on: 08/21/2020

Co-Listed By

Justin Wilburn

Fayette Realty, LLC License #340816

Last Buyer's Agent

Justin Wilburn

Fayette Realty, LLC License #340816

Property Details

Property Type

  • Land

Lot Details

  • 234.8 Acre Lot
  • Rural Setting
  • Level Lot

Utilities

  • Well
  • Septic Tank

Listing and Financial Details

  • Assessor Parcel Number 078 078 02200

Property Details

Property Type

Land

Lot Details

234.8 Acres

Listing Details

  • Class: Land
  • Type: Land
  • Location: Rural
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Road Frontage: Paved

Utilities

  • Utilities: Well, Septic Tank

Lot Info

  • Acreage: 234.8
  • Lot Size: 234.8 acres
  • Zoning: R-1
  • Present Usage: Row Crops
  • Shape: Irregular
  • Topographic Feature: Level, Rolling
  • Zoning Of Adjacent Area: Single Family, Agriculture, Greenbelt, Park

Tax Info

  • Assessor Parcel Number: 078 078 02200

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 24, 2022
Sold by
B & B Nashville Llc
Bought by
Mkm Properties Llc
Current Estimated Value
$697,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$127,664
Outstanding Balance
$120,273
Interest Rate
5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 4, 2021
Sold by
Mkm Properties Llc and B & B Nashville Llc
Bought by
Williams Scott S and Williams Courtney Brooke

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,937
Interest Rate
3.01%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 29, 2021
Sold by
Mkm Properties Llc and B & B Nashville Llc
Bought by
Carter Katrina Faye

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,937
Interest Rate
3.01%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 29, 2021
Sold by
Mkm Properties Llc and B & B Nashville Llc
Bought by
Likert Winston J and Likert Katrina J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,937
Interest Rate
3.01%
Mortgage Type
Commercial

Purchase Details

Listed on
Aug 21, 2020
Closed on
Dec 10, 2020
Sold by
Mkm Properties Llc
Bought by
B & B Nashville Llc
Seller's Agent
Will Bowling
Fayette Realty, LLC
Buyer's Agent
Justin Wilburn
Fayette Realty, LLC
List Price
$1,400,000
Sold Price
$1,250,000
Premium/Discount to List
-$150,000
-10.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,004,800
Interest Rate
2.7%
Mortgage Type
New Conventional
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mkm Properties Llc $125,000 Rhea William S
Williams Scott S $108,000 None Listed On Document
Carter Katrina Faye $118,000 None Listed On Document
Putt Lola H $65,500 None Listed On Document
Likert Winston J $400,000 Memphis Title
B & B Nashville Llc $1,267,089 None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mkm Properties Llc $127,664
Previous Owner Williams Scott S $106,937
Previous Owner B & B Nashville Llc $1,004,800
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/11/2020 12/11/20 Sold $1,250,000 -10.7% $744 / Sq Ft
08/21/2020 08/21/20 For Sale $1,400,000 -- $833 / Sq Ft
Source: Memphis Area Association of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $926 $89,250 $89,250 --
2024 $926 $71,725 $71,725 --
2023 $926 $71,725 $0 $0
2022 $926 $71,725 $71,725 $0
2021 $1,315 $71,725 $71,725 $0
2020 $1,601 $101,800 $97,675 $4,125
2019 $1,601 $106,200 $91,475 $14,725
2018 $1,601 $106,200 $91,475 $14,725
2017 $1,601 $106,200 $91,475 $14,725
2016 $1,745 $108,700 $94,475 $14,225
2015 $1,745 $108,700 $94,475 $14,225
2014 $1,745 $108,700 $94,475 $14,225
Source: Public Records

Agents Affiliated with this Home

  • Will Bowling

    Seller's Agent in 2020

    Will Bowling

    Fayette Realty, LLC

    (901) 465-6560

    23 in this area

    97 Total Sales

    Will Bowling
    Section Image

  • J

    Seller Co-Listing Agent in 2020

    Justin Wilburn

    Fayette Realty, LLC

    (901) 412-6460

    29 in this area

    143 Total Sales

    Justin Wilburn
    Section Image

  • U

    Buyer Co-Listing Agent in 2020

    User54 Train

    TN_MAAR

See All Agents

Map

Source: Memphis Area Association of REALTORS®

MLS Number: 10083362

Memphis Area Association of REALTORS®

APN: 078-022.00

Tennessee Fayette County Somerville 38068

1000 Karcher Rd, Somerville, TN

Not Listed for Sale

Lots

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