106 King Ave Morristown, TN 37814
Estimated payment $4,499/month
About This Home
This multifamily investment at 106-114 King Avenue in Morristown, TN features five units with a diverse mix of floor plans and a total projected annual income of $75,600. The unit breakdown includes two 2 bed / 1 bath units, two 1 bed / 1 bath units, and one large 4 bed / 2 bath unit, appealing to a wide range of renters.
The property has undergone over $150,000 in recent capital improvements, including a new roof, updated HVAC systems, electrical and plumbing upgrades, and new windows and doors throughout—offering investors a truly turnkey asset.
A detached garage provides an additional $150/month in income, further enhancing returns. Situated in a growing submarket with strong rental demand, this property presents a compelling opportunity for investors looking for immediate cash flow with long-term upside.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,738
Year Built
- Built in 1974
Home Design
- 4,500 Sq Ft Home
- Frame Construction
- Shingle Roof
Flooring
- Carpet
- Vinyl
Parking
- Driveway
- On-Site Parking
Schools
- Hillcrest Elementary School
- Meadowview Middle School
- Morristown East High School
Utilities
- Central Heating and Cooling System
Community Details
- 5 Units
Listing and Financial Details
- Assessor Parcel Number 034G A 001.02
Map
Home Values in the Area
Average Home Value in this Area
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 | $968 | $55,000 | $13,880 | $41,120 |
| 2023 | $968 | $55,000 | $0 | $0 |
| 2022 | $1,767 | $55,920 | $14,800 | $41,120 |
| 2021 | $1,767 | $55,920 | $14,800 | $41,120 |
| 2020 | $1,765 | $55,920 | $14,800 | $41,120 |
| 2019 | $1,929 | $56,760 | $14,800 | $41,960 |
| 2018 | $1,788 | $56,760 | $14,800 | $41,960 |
| 2017 | $1,759 | $56,760 | $14,800 | $41,960 |
| 2016 | $1,680 | $56,760 | $14,800 | $41,960 |
| 2015 | $1,563 | $56,760 | $14,800 | $41,960 |
| 2014 | -- | $56,760 | $14,800 | $41,960 |
| 2013 | -- | $64,080 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/18/2025 07/18/25 | Pending | -- | -- | -- |
| 06/23/2025 06/23/25 | For Sale | $799,000 | -- | $178 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | -- | |
| Warranty Deed | $365,000 | None Listed On Document | |
| Quit Claim Deed | -- | -- | |
| Deed | $125,000 | -- | |
| Warranty Deed | $55,000 | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $841,500 | New Conventional | |
| Previous Owner | $292 | Credit Line Revolving | |
| Previous Owner | $140,000 | Unknown | |
| Previous Owner | $103,824 | Commercial | |
| Previous Owner | $100,000 | Commercial |
Source: East Tennessee REALTORS® MLS
MLS Number: 1305778
APN: 034G-A-001.02
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Listing Information presented by local MLS brokerage: Ten-X, LLC dba Homes.com, local broker - Arlene Richardson - 888-952-6393.
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