1505 Mohawk Ct NW Cleveland, TN 37311
Estimated payment $2,474/month
Highlights
- Balcony
- Tile Flooring
- Central Heating and Cooling System
- Patio
About This Home
JUST REDUCED AGAIN! 4 PLEX FOR SALE CLEVELAND TN - OWC FIRST W/25% DOWN- STRONG CASHFLOW!!!
This well-maintained quadplex in Cleveland offers a value add investment with plenty of rental upside! Units are rented on a month to month basis and Seller is offering great terms - subject to review of buyers financials, with 25% down payment, Seller will carry a 75% first deed of trust at 6%, amortized over 30 years with a balloon 5 years from closing. Recent updates include a new roof (2020) and 3 of 4 HVAC systems replaced in the last 3 years. Tenants pay all utilities, minimizing owner expenses. Unit 2 has been fully renovated with new appliances, new cabinetry, carpet, paint, and updated bathroom. A turnkey property with solid rental income potential! Please see video links for the interiors. As Mohawk is fully occupied, please allow 48 hours to schedule all showings through the listing agents. No sign on property and we respectively request that you do not disturb the residents
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,205
Year Built
- Built in 1970
Lot Details
- 0.27 Acre Lot
- Lot Dimensions are 125x106
Home Design
- 3,848 Sq Ft Home
- Quadruplex
- Garden Apartment
- Brick Exterior Construction
- Brick Frame
- Metal Roof
Kitchen
- Range
- Dishwasher
Flooring
- Carpet
- Laminate
- Tile
- Vinyl
Parking
- Driveway
- On-Site Parking
Outdoor Features
- Balcony
- Patio
Additional Features
- Washer and Dryer Hookup
- Central Heating and Cooling System
Listing and Financial Details
- The owner pays for lawn maintenance, insurance, taxes, exterior maintenance, HVAC maintenance, roof maintenance
- Assessor Parcel Number 049C A 031.00
Community Details
Overview
- 4 Units
- Georgetown Estates Subdivision
Building Details
- Operating Expense $7,126
- Net Operating Income $37,754
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 | $1,463 | $163,400 | $17,600 | $145,800 |
| 2024 | $1,463 | $101,680 | $6,120 | $95,560 |
| 2023 | $1,378 | $43,720 | $12,800 | $30,920 |
| 2022 | $1,378 | $43,720 | $12,800 | $30,920 |
| 2021 | $1,378 | $43,720 | $0 | $0 |
| 2020 | $2,240 | $43,720 | $0 | $0 |
| 2019 | $2,240 | $58,320 | $0 | $0 |
| 2018 | $2,402 | $0 | $0 | $0 |
| 2017 | $1,201 | $0 | $0 | $0 |
| 2016 | $1,830 | $0 | $0 | $0 |
| 2015 | $942 | $0 | $0 | $0 |
| 2014 | $940 | $0 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/31/2025 10/31/25 | Price Changed | $419,500 | -5.7% | $109 / Sq Ft |
| 08/27/2025 08/27/25 | Price Changed | $445,000 | -3.7% | $116 / Sq Ft |
| 07/14/2025 07/14/25 | Price Changed | $462,000 | -2.7% | $120 / Sq Ft |
| 06/03/2025 06/03/25 | Price Changed | $475,000 | -2.6% | $123 / Sq Ft |
| 03/24/2025 03/24/25 | For Sale | $487,500 | -- | $127 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,000,000 | Cleveland Abstract | |
| Warranty Deed | $89,000 | -- | |
| Deed | $160,000 | -- | |
| Deed | $160,000 | -- | |
| Deed | $125,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $850,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $100,000 | Commercial | |
| Previous Owner | $128,000 | No Value Available | |
| Previous Owner | $128,000 | Purchase Money Mortgage |
Source: East Tennessee REALTORS® MLS
MLS Number: 1294458
APN: 049C-A-031.00
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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