1215 Shields Ferry Rd Morristown, TN 37814
Estimated payment $4,289/month
Highlights
- Main Floor Bedroom
- Cooling System Mounted In Outer Wall Opening
- Zoned Heating and Cooling
- Efficiency Studio
- Patio
- Vinyl Flooring
About This Home
RARE EIGHT PLEX IN MORRISTOWN - FULLY RENTED - NEW ROOF - 7.2 CAP RATE!!!
This fully rented 8 unit complex offers a strong investment opportunity in a prime location, just minutes away from Walmart and other essential amenities that tenants desire. Built in 1976, the property has been well maintained and is ready for its next owner. This property has undergone recent updates including a new roof with 6 inch gutters, new windows, fresh appliances and unit flooring. Two units have ductless mini splits and the rest have PTAC systems and all units come with washer/dryer connections, stoves and refrigerators. Tenants pay a flat fee for Seller provided WiFi and water and additionally tenants pay their own electric and trash. With its location near major retail and dining options, and access to highways and public services, this 8 unit is an ideal addition to your portfolio. No sign on property and we respectively request that you do not disturb the tenants.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $1,971
Year Built
- Built in 1976
Lot Details
- 0.41 Acre Lot
- Lot Dimensions are 125x119
Home Design
- Garden Apartment
- Brick Exterior Construction
- Block Foundation
- Composition Roof
Interior Spaces
- Main Floor Bedroom
- 5,360 Sq Ft Home
- Efficiency Studio
- Range
- Washer and Dryer Hookup
Flooring
- Laminate
- Vinyl
Parking
- Driveway
- On-Site Parking
Outdoor Features
- Patio
Utilities
- Cooling System Mounted In Outer Wall Opening
- Zoned Heating and Cooling
Listing and Financial Details
- The owner pays for water, HVAC maintenance, exterior maintenance, taxes, insurance
- Assessor Parcel Number 033D I 011.02
Community Details
Overview
- 8 Units
- Hall Ray D Prop Subdivision
Building Details
- Operating Expense $16,144
- Net Operating Income $55,644
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 | $1,098 | $62,400 | $5,400 | $57,000 |
| 2023 | $1,098 | $62,400 | $0 | $0 |
| 2022 | $1,972 | $62,400 | $5,400 | $57,000 |
| 2021 | $1,972 | $62,400 | $5,400 | $57,000 |
| 2020 | $1,969 | $62,400 | $5,400 | $57,000 |
| 2019 | $1,915 | $56,320 | $7,520 | $48,800 |
| 2018 | $1,774 | $56,320 | $7,520 | $48,800 |
| 2017 | $1,746 | $56,320 | $7,520 | $48,800 |
| 2016 | $1,667 | $56,320 | $7,520 | $48,800 |
| 2015 | $1,551 | $56,320 | $7,520 | $48,800 |
| 2014 | -- | $56,320 | $7,520 | $48,800 |
| 2013 | -- | $56,880 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/03/2025 10/03/25 | For Sale | $775,000 | -- | $145 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $725,000 | Foothills Title Services Inc | |
| Special Warranty Deed | $520,000 | -- | |
| Trustee Deed | $810,000 | -- | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | $50,200 | -- | |
| Warranty Deed | $328,400 | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $603,750 | Commercial |
Source: East Tennessee REALTORS® MLS
MLS Number: 1317448
APN: 033D-I-011.02
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.
- 1324 Davis St
- 637 Carriger St
- 1420 Buffalo Trail
- 305 Branner St
- 1323 Goodson Ave
- 1542 Shields Ferry Rd
- 2358 Stream View Ln
- 1562 Shields Ferry Rd
- 000 Devault St
- 602 Hilltop Dr
- 1449 N Easley Ct
- 215 E 5th St N
- 2951/2945 Cherokee Dr
- 311 E 4th St N
- 1101 Sherwood Dr
- 551 Callaway Dr
- 573 Kensington Dr
- 400 E 4th St N
- 446 Lochmere Greene Dr
- 439 Lochmere Dr
- 133 Guzman Ct
- 2215 Buffalo Trail
- 1332 W Andrew Johnson Hwy
- 270 Keswick Dr
- 1955 Collegewood Dr
- 450 Barkley Landing Dr Unit 205-10
- 3166 Bridgewater Blvd
- 2749 River Rock Dr
- 2862 Scenic Lake Cir
- 5055 Cottonseed Way
- 1120 Hoppers Bluff
- 12 Kingswood Rd
- 930-940 E Ellis St
- 1246 Jessica Loop Unit 3
- 2130 Pottertown Rd Unit Pottertown 3
- 2150 Pottertown Rd
- 2150 Pottertown Rd
- 2150 Pottertown Rd
- 2170 Pottertown Rd
- 2170 Pottertown Rd