1418 Mae Collins Rd Morristown, TN 37813
Estimated payment $2,909/month
About This Home
An excellent investment opportunity for the entrepreneur seeking a cash flow property! Situated on 1.7 acres in Morristown, this property features 11 available lots, currently housing 7 single-wide mobile homes, with all homes conveying with the purchase. Home Details: 2 bedrooms, 1 bathroom Approximate size: 14x40 (buyer should confirm exact dimensions) Some units have washer/dryer hookups Window heat/air units Rental Income: Current rent per home: $725/month Total current rent for 7 homes: $5,075/monthUtility Information: Property owner covers water for all homes Tenants pay for individual electric service Each of the 11 spaces has electric and septic hookups available Additional Details: 1 home is undergoing a remodel, offering the potential for increased rent Significant upside potential for development of the remaining 4 lotsThis property is a promising investment with consistent rental income and the opportunity to add value through future development. IT IS THE SOLE RESPONSIBILITY OF BUYER AND BUYER AGENT TO VERIFY ALL INFORMATION CONTAINED HEREIN
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $45
Year Built
- Built in 2020
Lot Details
- 1.7 Acre Lot
Home Design
- 560 Sq Ft Home
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Full Bathrooms
Community Details
- 7 Units
Listing and Financial Details
- Assessor Parcel Number 049D B 010.00
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 |
|---|---|---|---|---|
| 2024 | $45 | $2,300 | $2,300 | -- |
| 2023 | $45 | $2,300 | $0 | $0 |
| 2022 | $45 | $2,300 | $2,300 | $0 |
| 2021 | $45 | $2,300 | $2,300 | $0 |
| 2020 | $45 | $2,300 | $2,300 | $0 |
| 2019 | $38 | $1,775 | $1,775 | $0 |
| 2018 | $38 | $1,775 | $1,775 | $0 |
| 2017 | $38 | $1,775 | $1,775 | $0 |
| 2016 | $66 | $3,325 | $1,775 | $1,550 |
| 2015 | $62 | $3,325 | $1,775 | $1,550 |
| 2014 | -- | $3,325 | $1,775 | $1,550 |
| 2013 | -- | $3,800 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/29/2025 04/29/25 | For Sale | $525,000 | 0.0% | $938 / Sq Ft |
| 04/19/2025 04/19/25 | Pending | -- | -- | -- |
| 01/24/2025 01/24/25 | Price Changed | $525,000 | 0.0% | $938 / Sq Ft |
| 01/24/2025 01/24/25 | Price Changed | $525,000 | -4.5% | $938 / Sq Ft |
| 01/02/2025 01/02/25 | For Sale | $550,000 | 0.0% | $982 / Sq Ft |
| 12/27/2024 12/27/24 | For Sale | $550,000 | -- | $982 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $9,000 | -- | |
| Warranty Deed | $9,000 | -- | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Deed | -- | -- | |
| Deed | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $315,000 | New Conventional |
Source: Lakeway Area Association of REALTORS®
MLS Number: 706110
APN: 049D-B-010.00
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