Seller's Agent in 2025
Jason Wright
RE/MAX
(423) 650-9806
5 in this area
250 Total Sales
479 Old Federal Rd SE Cleveland, TN 37323
--
Bed
4
Baths
3,306
Sq Ft
1977
Built
Highlights
- Open Floorplan
- Corner Lot
- Double Pane Windows
- Deck
- No HOA
- Brick Veneer
About This Home
As of September 2025Income-Producing Quadplex in Cleveland, TN - Fully Leased! Discover this exceptional investment opportunity; a fully leased quadplex in the heart of Cleveland, TN! With a total of 3,306 sq. ft., this well-maintained property features four units, each offering spacious living with modern updates. Unit Breakdown: Units A & B: 2 bedrooms, 1 bathroom, 826.5 sq. ft. each. Units C & D: 1 bedroom, 1 bathroom, 826.5 sq. ft. each, with an additional room currently utilized as a bedroom which includes a closet but no window. All units feature an open-concept living room and kitchen, complete with electric range, refrigerator, and a convenient laundry closet. Ample parking is available for tenants, along with a 2-stall detached carport that includes a storage area. Recent Upgrades: 3 of the 4 units have been remodeled in the last 2 years, with updates including new doors, windows, kitchen cabinets, sinks, appliances, walk-in showers, faucets, lighting, outlets, closet organizers and a new water heater in one of the units. All 4 units have a HVAC unit that is approximately less than 2 years old. Each unit also boasts a large private deck, offering extra outdoor living space. Currently generating $4,500 per month in rental income, this property is a fantastic investment with immediate cash flow. Located close to excellent schools, shopping, and dining, this gem won't last long. Don't miss your chance to own this income-producing property. Call today for more details and to schedule your private showing!
Last Agent to Sell the Property
RE/MAX Experience License #337236 Listed on: 06/12/2025
Last Buyer's Agent
A NON-MEMBER
--NON-MEMBER OFFICE-- License #308195
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $959
Year Built
- Built in 1977
Lot Details
- Property fronts a county road
- Corner Lot
- Sloped Lot
Home Design
- Brick Veneer
- Permanent Foundation
- Metal Roof
Interior Spaces
- 4 Full Bathrooms
- 3,306 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Double Pane Windows
- Insulated Windows
- Fire and Smoke Detector
- Electric Range
- Laundry closet
- Finished Basement
Flooring
- Carpet
- Luxury Vinyl Tile
Parking
- Carport
- Driveway
Outdoor Features
- Deck
- Rain Gutters
Schools
- Black Fox Elementary School
- Lake Forest Middle School
- Bradley County High School
Utilities
- Central Heating and Cooling System
- Septic Tank
- High Speed Internet
- Cable TV Available
Listing and Financial Details
- Tenant pays for cable TV, electricity
- The owner pays for water
- Assessor Parcel Number 073c B 007.01
Community Details
Overview
- No Home Owners Association
- 4 Units
Building Details
- Water Sewer Expense $120
- Gross Income $4,500
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Dec 22, 2022
Sold by
Deal Donnie
Bought by
White Marvin Keith and White Sarah
Total Days on Market
90
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,250
Outstanding Balance
$210,731
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$358,109
Purchase Details
Closed on
Jun 21, 2005
Sold by
Stafford Ernest
Bought by
Deal Donnie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$118,003
Interest Rate
5.66%
Purchase Details
Closed on
Jun 16, 2005
Sold by
Stafford Ernest
Bought by
Deal Donnie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$118,003
Interest Rate
5.66%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $220,000 | Professional Title | |
| Deed | $115,634 | -- | |
| Deed | $115,634 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $225,250 | New Conventional | |
| Previous Owner | $8,578 | Commercial | |
| Previous Owner | $118,003 | No Value Available | |
| Previous Owner | $118,003 | Purchase Money Mortgage |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/09/2025 09/09/25 | Sold | $520,000 | -8.8% | $157 / Sq Ft |
| 06/28/2025 06/28/25 | Price Changed | $570,000 | -1.7% | $172 / Sq Ft |
| 04/03/2025 04/03/25 | For Sale | $580,000 | -- | $175 / Sq Ft |
Source: River Counties Association of REALTORS®
Tax History Compared to Growth
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 | -- | $53,960 | $12,800 | $41,160 |
| 2023 | $960 | $53,960 | $12,800 | $41,160 |
| 2022 | $960 | $53,960 | $12,800 | $41,160 |
| 2021 | $960 | $53,960 | $0 | $0 |
| 2020 | $1,277 | $53,960 | $0 | $0 |
| 2019 | $1,277 | $57,480 | $0 | $0 |
| 2018 | $1,216 | $0 | $0 | $0 |
| 2017 | $1,073 | $0 | $0 | $0 |
| 2016 | $1,073 | $0 | $0 | $0 |
| 2015 | $1,063 | $0 | $0 | $0 |
| 2014 | $868 | $0 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Jason Wright
-
A
Buyer's Agent in 2025
A NON-MEMBER
--NON-MEMBER OFFICE--
Map
Source: River Counties Association of REALTORS®
MLS Number: 20251489
APN: 073C-B-007.01
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