127 Patrick Ln Gray, TN 37615
Spurgeon NeighborhoodEstimated payment $3,224/month
Highlights
- Deck
- Cooling Available
- Laundry Room
- No HOA
- Patio
- Luxury Vinyl Plank Tile Flooring
About This Home
REDUCED!! Looking for a lucrative investment in the heart of the Tri-Cities? Don't miss this one--location, location, location! Boasting four units in true turnkey condition, this stacked-flat fourplex offers 3,750+ sqft of finished living space and has been completely remodeled throughout. Currently generating a strong return, this like-new property has undergone extensive renovations throughout, including new flooring, sheetrock, mechanicals, roof, windows, kitchens, bathrooms, and more--making this a low-maintenance, plug-and-play investment. Individually metered and fully occupied, the property lends itself to a variety of investment strategies. Explore options such as long-term rentals, STRs, rent-by-the-room with PadSplit, or simply continue enjoying the solid cash flow from an already stabilized asset. Each unit features a spacious floor plan with 2 large bedrooms and 1 full bathroom, highlighted by durable LVP flooring, HVAC, laundry hookups, and dedicated outdoor space--all contributing to strong tenant appeal. Strategically positioned in the heart of everything, this property is located in an established neighborhood convenient to all nearby attractions that include local parks, retail, restaurants, grocery stores, while also being just a short drive away from nearly everything in the TriCities with easy access to I-81 & I-26! Whether you're a seasoned investor looking to strengthen your portfolio or an owner-occupant aiming to house hack and live for free, this property delivers exceptional versatility and tremendous upside. Opportunities like this don't come often--priced to sell at $589K. Don't miss your chance--call today! Information deemed reliable but collected from third-party sources and subject to buyer and buyer's agent verification.
Home Details
Home Type
- Single Family
Year Built
- Built in 1950 | Remodeled
Lot Details
- Level Lot
- Property is in good condition
Home Design
- Brick Exterior Construction
- Shingle Roof
Interior Spaces
- 2-Story Property
- Luxury Vinyl Plank Tile Flooring
- Finished Basement
- Walk-Out Basement
Kitchen
- Electric Range
- Microwave
- Dishwasher
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Full Bathrooms
Laundry
- Laundry Room
- Washer and Electric Dryer Hookup
Outdoor Features
- Deck
- Patio
Schools
- Gray Elementary And Middle School
- Daniel Boone High School
Utilities
- Cooling Available
- Heat Pump System
Community Details
- No Home Owners Association
Listing and Financial Details
- Assessor Parcel Number 005j E 024.00
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 |
|---|---|---|---|---|
| 2025 | $1,168 | $125,400 | $18,240 | $107,160 |
| 2024 | $1,168 | $125,400 | $18,240 | $107,160 |
| 2022 | $1,168 | $54,320 | $10,960 | $43,360 |
| 2021 | $1,168 | $54,320 | $10,960 | $43,360 |
| 2020 | $1,168 | $54,320 | $10,960 | $43,360 |
| 2019 | $1,306 | $54,320 | $10,960 | $43,360 |
| 2018 | $1,306 | $54,880 | $10,960 | $43,920 |
| 2017 | $1,259 | $54,880 | $10,960 | $43,920 |
| 2016 | $1,259 | $52,920 | $10,960 | $41,960 |
| 2015 | $1,048 | $52,920 | $10,960 | $41,960 |
| 2014 | $1,048 | $52,920 | $10,960 | $41,960 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/12/2026 04/12/26 | Pending | -- | -- | -- | |
| 03/06/2026 03/06/26 | Price Changed | $589,900 | -0.9% | $157 / Sq Ft | |
| 02/10/2026 02/10/26 | Price Changed | $595,000 | -4.8% | $159 / Sq Ft | |
| 01/16/2026 01/16/26 | For Sale | $625,000 | 0.0% | $167 / Sq Ft | |
| 05/28/2024 05/28/24 | Off Market | $1,150 | -- | -- | |
| 05/01/2024 05/01/24 | Rented | $1,150 | 0.0% | -- | |
| 05/01/2024 05/01/24 | Under Contract | -- | -- | -- | |
| 03/04/2024 03/04/24 | Price Changed | $1,150 | -11.5% | $1 / Sq Ft | |
| 02/16/2024 02/16/24 | For Rent | $1,300 | 0.0% | -- | |
| 08/19/2021 08/19/21 | For Sale | $160,000 | 0.0% | $178 / Sq Ft | |
| 08/16/2021 08/16/21 | Sold | $160,000 | -- | $178 / Sq Ft | View Prior Sale |
| 08/16/2021 08/16/21 | Pending | -- | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $178,000 | -- |
Source: Tennessee/Virginia Regional MLS
MLS Number: 9990235
APN: 005J-E-024.00-001
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