Seller's Agent in 2025
Heather Walker
RE/MAX
(423) 231-9766
98 Total Sales
1002 E Main St Morristown, TN 37814
--
Bed
--
Bath
1,550
Sq Ft
8,712
Sq Ft Lot
Highlights
- Victorian Architecture
- Rear Porch
- Level Lot
- No HOA
- Central Air
- Heat Pump System
About This Home
As of May 2025Don't miss this prime investment opportunity in the heart of Morristown! This income-producing duplex offers a strong rental history and excellent return potential. One unit was recently renovated and both units are currently leased on a yearly agreements. With a gross income of $20,400 per year, an estimated net income of $17,344, and a 8.7% cap rate, this property is a fantastic addition to any rental portfolio.The duplex features two distinct layouts: one unit is a single-level, 1-bedroom, 1-bathroom space, while the other offers up to 3 bedrooms, a bonus living area upstairs, and 1.5 baths, maximizing its rental appeal. Both units provide tenant-friendly conveniences such as individual washer and dryer hookups and two designated parking spaces per unit. Recent updates, including a metal roof installed within the last two years, add to the property's low-maintenance appeal. Additionally, the neighboring rental property at 926 E Main St is also available for purchase, presenting an incredible opportunity to acquire multiple income-producing units in one area.Located in a high-demand rental market, this property is minutes from shopping, dining, and major roadways, making it an attractive option for tenants and investors alike. Whether you're looking to expand your portfolio or make your first investment, this duplex is a rare find. Act now before this opportunity is gone!
Last Agent to Sell the Property
REMAX Real Estate Ten of Morristown License #337402 Listed on: 03/24/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $358
Year Built
- Built in 1900
Lot Details
- 8,712 Sq Ft Lot
- Lot Dimensions are 61'x149'
- Back Yard Fenced
- Level Lot
- Cleared Lot
Parking
- Gravel Driveway
Home Design
- Duplex
- Victorian Architecture
- Block Foundation
- Metal Roof
- Vinyl Siding
Interior Spaces
- 1,550 Sq Ft Home
- 1.5-Story Property
- Crawl Space
- Range
- Washer and Electric Dryer Hookup
Outdoor Features
- Rear Porch
Schools
- Hillcrest Elementary School
- Meadowview Middle School
- East High School
Utilities
- Central Air
- Heat Pump System
Listing and Financial Details
- Assessor Parcel Number 009.00
- Seller Considering Concessions
Community Details
Overview
- No Home Owners Association
- 2 Units
Building Details
- Operating Expense $3,056
- Gross Income $20,400
- Net Operating Income $17,344
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 24, 2025
Closed on
May 14, 2025
Sold by
Cherokee Management Lp
Bought by
Romero Jose Ivan
Seller's Agent
Heather Walker
REMAX Real Estate Ten of Morristown
Buyer's Agent
Brian Parlier
Hurd Realty, LLC
List Price
$199,900
Sold Price
$193,900
Premium/Discount to List
-$6,000
-3%
Views
41
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$7,712
Avg. Annual Appreciation
18.29%
Original Mortgage
$6,000
Outstanding Balance
$6,000
Interest Rate
6.64%
Mortgage Type
FHA
Estimated Equity
$199,295
Purchase Details
Closed on
Sep 9, 2016
Sold by
Lakeway Management L P
Bought by
Cherokee Associates Lp
Purchase Details
Closed on
Jan 6, 1984
Bought by
Hyde Arthur Thomas and Hyde Deborah B
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $193,900 | Blue Ridge Title | |
| Quit Claim Deed | -- | -- | |
| Warranty Deed | $15,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $6,000 | FHA | |
| Open | $183,905 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/15/2025 05/15/25 | Sold | $193,900 | -3.0% | $125 / Sq Ft |
| 04/08/2025 04/08/25 | Pending | -- | -- | -- |
| 03/24/2025 03/24/25 | For Sale | $199,900 | -- | $129 / Sq Ft |
Source: Tennessee/Virginia Regional MLS
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $358 | $20,325 | $6,250 | $14,075 |
| 2023 | $358 | $20,325 | $0 | $0 |
| 2022 | $643 | $20,325 | $6,250 | $14,075 |
| 2021 | $643 | $20,325 | $6,250 | $14,075 |
| 2020 | $642 | $20,325 | $6,250 | $14,075 |
| 2019 | $585 | $17,225 | $4,900 | $12,325 |
| 2018 | $542 | $17,225 | $4,900 | $12,325 |
| 2017 | $534 | $17,225 | $4,900 | $12,325 |
| 2016 | $510 | $17,225 | $4,900 | $12,325 |
| 2015 | $474 | $17,225 | $4,900 | $12,325 |
| 2014 | -- | $17,225 | $4,900 | $12,325 |
| 2013 | -- | $18,625 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Heather Walker
-
Brian Parlier
Buyer's Agent in 2025
Brian Parlier
Hurd Realty, LLC
(404) 931-4874
170 Total Sales
Map
Source: Tennessee/Virginia Regional MLS
MLS Number: 9977715
APN: 034J-A-009.00
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