NOT LISTED FOR SALE

1327 N Fairmont Ave Morristown, TN 37814

Estimated Value: $695,000

-- Bed
8 Baths
3,432 Sq Ft
$203/Sq Ft Est. Value

Last Sold March 31, 2021

Last sale price $565,000 $165 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $3,932/month

164 Days on Market

Highlights

  • Cooling System Mounted In Outer Wall Opening
  • Patio
  • Baseboard Heating

About This Home

As of March 2021

8 Unit apartment building with complete remodel in 2019/2020. Excellent investment opportunity. Near hospital and physician offices.

Last Agent to Sell the Property

FRED DAY

Re/Max Real Estate Ten Midtown License #051422 Listed on: 09/02/2020

Re/Max Real Estate Ten Midtown

Co-Listed By

Tina Black

RE/MAX Real Estate Ten Midtown License #308409

Last Buyer's Agent

Non Member

Non Member - Sales

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,977

Year Built

  • Built in 1983

Lot Details

  • 0.64

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof

Kitchen

  • Electric Range
  • Range Hood

Laundry

  • Laundry on main level
  • Washer and Electric Dryer Hookup

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Electric Water Heater

Additional Features

  • Patio
  • 0.64 Acre Lot

Community Details

  • 8 Units
  • Net Operating Income $55,570

Listing and Financial Details

  • Assessor Parcel Number 1.01

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,977

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Carport Y N: No
  • Year Built: 1983
  • Property Sub Type: Apartment
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.64
  • Lot Size: 198.5/148/IRR/102.4
  • Subdivision Name: None
  • Directions: FROM WALTERS DRIVE, TURN ONTO FOREST DR, LEFT ON MCFARLAND DR, RIGHT ON WHITAKER LN, LEFT ON N FAIRMONT.
  • Location Tax and Legal:Tax Annual Amount: 1976.76
  • Location Tax and Legal:Parcel Number2: 1.01
  • General Property Information:Lot Size Acres: 0.64
  • General Property Information:Lot Size Dimensions: 198.5/148/IRR/102.4
  • Sewer:Public Sewer: Yes
  • Water Source:Public: Yes
  • General Property Information:Fireplace YN: No
  • General Property Information:Spa YN: No
  • General Property Information:Home Warranty YN: No
  • Appliances Refrigerators: Yes
  • Laundry Features:Electric Dryer Hookup: Yes
  • Laundry Features:Washer Hookup: Yes
  • Roof:Shingle: Yes
  • Security Features:Smoke Detector(s): Yes
  • Gross Scheduled Income: 62400.0
  • Income And Expenses New Taxes Expense: 1560.6
  • Cooling:Electric: Yes
  • Foundation Details:Slab: Yes
  • Laundry Features:Main Level: Yes
  • Cooling:Wall Unit(s): Yes
  • General Property Information:Number Of Units Total2: 8.0
  • Special Features: VirtualTour

Interior Features

  • Appliances: Electric Oven, Electric Range, Electric Water Heater, Range Hood, Refrigerator
  • Private Spa: No
  • Fireplace: No
  • Appliances:Electric Oven: Yes
  • Appliances:Electric Range: Yes
  • Appliances:Range Hood: Yes
  • Appliances:Electric Water Heater: Yes

Exterior Features

  • Roof: Shingle
  • Exterior Features: None
  • Home Warranty: No
  • Construction Type: Asphalt, Brick
  • Foundation Details: Slab
  • Patio And Porch Features: Patio
  • Construction Materials:Brick: Yes
  • Patio And Porch Features:Patio: Yes
  • Exterior Features:None6: Yes

Garage/Parking

  • General Property Information:Carport YN: No
  • Unit 1:Garage YN3: No
  • Unit 2:Garage YN4: No
  • Unit 3:Garage YN5: No
  • Unit 4:Garage YN6: No
  • Parking Features:Asphalt: Yes

Utilities

  • Cooling: Electric, Wall Unit(s)
  • Heating: Baseboard
  • Sewer: Public Sewer
  • Laundry Features: Electric Dryer Hookup, Main Level, Washer Hookup
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Public
  • Heating:Baseboard: Yes

Lot Info

  • Lot Size Sq Ft: 27878.4
  • Parcel #: 1.01
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 8
  • Income And Expenses Net Operating Income: 55570.0

Tax Info

  • New Taxes Expense: 1560.6
  • Tax Annual Amount: 1976.76
  • Tax Map Number: 33K

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 2, 2020
Closed on
Mar 31, 2021
Sold by
Whitaker Dedra
Bought by
Hive Properties Llc
Seller's Agent
FRED DAY
Re/Max Real Estate Ten Midtown
Buyer's Agent
Non Member
Non Member - Sales
List Price
$675,000
Sold Price
$565,000
Premium/Discount to List
-$110,000
-16.3%
Current Estimated Value
$695,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$130,000
Avg. Annual Appreciation
13.72%
Original Mortgage
$3,061
Outstanding Balance
$2,578
Interest Rate
2.8%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$993,422

Purchase Details

Closed on
Mar 22, 2018
Sold by
Tallent Michael A and Tallent Jack M
Bought by
Whitaker Dedra

Purchase Details

Closed on
Mar 27, 1992
Bought by
Tallent Jack M

Purchase Details

Closed on
May 7, 1985
Bought by
Tallent Jack M
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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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
Hive Properties Llc $565,000 None Available
Whitaker Dedra $10,000 None Available
Tallent Jack M -- --
Tallent Jack M -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hive Properties Llc $3,061
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/31/2021 03/31/21 Sold $565,000 -16.3% $165 / Sq Ft
02/13/2021 02/13/21 Pending -- -- --
09/02/2020 09/02/20 For Sale $675,000 -- $197 / Sq Ft
Source: Lakeway Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $1,831 $104,040 $10,280 $93,760
2023 $1,831 $104,040 $0 $0
2022 $3,288 $104,040 $10,280 $93,760
2021 $3,288 $104,040 $10,280 $93,760
2020 $3,283 $104,040 $10,280 $93,760
2019 $2,758 $81,120 $11,000 $70,120
2018 $2,555 $81,120 $11,000 $70,120
2017 $2,514 $81,120 $11,000 $70,120
2016 $2,401 $81,120 $11,000 $70,120
2015 $2,234 $81,120 $11,000 $70,120
2014 -- $81,120 $11,000 $70,120
2013 -- $83,360 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • FRED DAY

    Seller's Agent in 2021

    FRED DAY

    RE/MAX

    (423) 312-8881

    151 Total Sales

    FRED DAY
    Section Image
  • Tina Black

    Seller Co-Listing Agent in 2021

    Tina Black

    RE/MAX

    (423) 312-7338

    257 Total Sales

    Tina Black
    Section Image

  • N

    Buyer's Agent in 2021

    Non Member

    Non Member - Sales

See All Agents

Map

Source: Lakeway Area Association of REALTORS®

MLS Number: 590206

Lakeway Area Association of REALTORS®

APN: 033K-D-001.01

Tennessee Hamblen County Morristown 37814

1327 N Fairmont Ave, Morristown, TN

This home is located at 1327 N Fairmont Ave, Morristown, TN 37814 since 02 September 2020 and is currently estimated at $695,000, approximately $202 per square foot. This property was built in 1983. 1327 N Fairmont Ave is a home located in Hamblen County with nearby schools including West Elementary School, Lincoln Heights Middle School, and Morristown West High School.

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.

Lakeway Area Association of REALTORS® 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.

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