NOT LISTED FOR SALE

509 E 3rd St N Morristown, TN 37814

Estimated Value: $235,924 - $322,000

-- Bed
4 Baths
3,000 Sq Ft
$97/Sq Ft Est. Value

Last Sold January 11, 2022

Last sale price $229,900 $77 Per Sq Ft

Est. 27% increase in value since last sale

Current estimated payment $1,636/month

55 Days on Market

Highlights

  • Covered patio or porch
  • Window Unit Cooling System
  • Baseboard Heating

About This Home

As of January 2022

Great investment opportunity! 4 units in good condition. These units are centrally located near downtown Morristown and are within walking distance to many places. All brick and low maintenance. Only minutes to Cherokee lake with over 30,000 acres to play on. Currently, the units are being rented for $500 each per month and most likely that could be increased upon new ownership.

Last Agent to Sell the Property

Tiffany Winchell

Jackson Real Estate & Auction License #318117 Listed on: 11/17/2021

Last Buyer's Agent

Steve Carpenter

Re/Max Real Estate Ten West License #352661

Re/Max Real Estate Ten West

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,009

Year Built

  • Built in 1964

Lot Details

  • 0.34

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof

Laundry

  • Laundry on main level
  • Washer and Electric Dryer Hookup

Utilities

  • Window Unit Cooling System
  • Baseboard Heating
  • Electric Water Heater

Additional Features

  • Electric Range
  • Covered patio or porch
  • 0.34 Acre Lot
  • City Lot

Community Details

Overview

  • 4 Units

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Water Meter
  • Insurance Expense $750
  • Net Operating Income $24,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,009

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Carport Y N: No
  • Year Built: 1964
  • Property Sub Type: Quadruplex
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.34
  • Lot Size: irr
  • Subdivision Name: Other
  • Directions: Turn right toward S Haun Dr 285 ft Turn left toward S Haun Dr 305 ft Continue onto S Haun Dr 0.4 mi Turn left onto TN-66 S 0.6 mi Continue straight to stay on TN-66 S 0.7 mi Turn right onto Anderson St 0.1 mi Turn left onto E 3rd N St
  • Location Tax and Legal:Tax Annual Amount: 1008.8
  • Location Tax and Legal:Parcel Number2: 0
  • Water Source:Public: Yes
  • General Property Information:Spa 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: 24000.0
  • Income And Expenses Maintenance Expense: 1000.0
  • Manager Expense: 1000.0
  • Income And Expenses New Taxes Expense: 1988.15
  • Foundation Details:Slab: Yes
  • Laundry Features:Main Level: Yes
  • Cooling:Window Unit(s): Yes
  • Meter Information:Number Of Separate Water Meters: 1
  • Meter Information:Number Of Separate Electric Meters: 1
  • Special Features: VirtualTour

Interior Features

  • Appliances: Electric Oven, Electric Range, Electric Water Heater, Refrigerator
  • Number Of Buildings: 1
  • Private Spa: No
  • Fireplace: No
  • Community Features:None4: Yes
  • Appliances:Electric Oven: Yes
  • Appliances:Electric Range: Yes
  • Appliances:Electric Water Heater: Yes

Exterior Features

  • Roof: Shingle
  • Exterior Features: None
  • Lot Features: City Lot
  • Home Warranty: No
  • Construction Type: Brick
  • Foundation Details: Slab
  • Patio And Porch Features: Covered, Patio
  • Lot Features:City Lot: Yes
  • Construction Materials:Brick: Yes
  • Patio And Porch Features:Covered2: Yes
  • Patio And Porch Features:Patio: Yes
  • Exterior Features:None6: Yes

Garage/Parking

  • Parking Features: Concrete
  • Parking Features:Concrete4: Yes
  • Unit 1:Garage YN3: No
  • Unit 2:Garage YN4: No
  • Unit 3:Garage YN5: No
  • Unit 4:Garage YN6: No

Utilities

  • Cooling: Window 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

Condo/Co-op/Association

  • Community Features: None

Lot Info

  • Lot Size Sq Ft: 14810.4
  • Parcel #: 0
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 4
  • Resident Manager Expense: 1000.0
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Water Meters: 1
  • Income And Expenses Net Operating Income: 24000.0

Tax Info

  • New Taxes Expense: 1988.15
  • Tax Annual Amount: 1008.8
  • Tax Map Number: 034H

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 17, 2021
Closed on
Jan 10, 2022
Sold by
Cherokee Management Lp
Bought by
Artisan Holdings Llc
Seller's Agent
Tiffany Winchell
Jackson Real Estate & Auction
Buyer's Agent
Steve Carpenter
Re/Max Real Estate Ten West
List Price
$249,900
Sold Price
$229,900
Premium/Discount to List
-$20,000
-8%
Total Days on Market
55
Current Estimated Value
$290,975

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$61,075
Avg. Annual Appreciation
6.70%
Original Mortgage
$183,900
Outstanding Balance
$67,648
Interest Rate
3.12%
Mortgage Type
New Conventional
Estimated Equity
$219,350

Purchase Details

Closed on
Sep 9, 2016
Sold by
Lakeway Management Lp
Bought by
Cherokee Associates Lp

Purchase Details

Closed on
Jan 9, 1986
Bought by
Hyde Arthur
Source: Public Records

Range of Values:

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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
Artisan Holdings Llc $229,900 None Listed On Document
Cherokee Management Lp -- None Listed On Document
Cherokee Associates Lp -- --
Hyde Arthur $75,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Artisan Holdings Llc $183,900
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/11/2022 01/11/22 Sold $229,900 -8.0% $77 / Sq Ft
12/12/2021 12/12/21 Pending -- -- --
11/17/2021 11/17/21 For Sale $249,900 -- $83 / 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 $1,109 $63,000 $14,720 $48,280
2023 $1,109 $63,000 $0 $0
2022 $1,991 $63,000 $14,720 $48,280
2021 $1,991 $63,000 $14,720 $48,280
2020 $1,988 $63,000 $14,720 $48,280
2019 $1,981 $58,280 $17,920 $40,360
2018 $1,836 $58,280 $17,920 $40,360
2017 $1,806 $58,280 $17,920 $40,360
2016 $1,725 $58,280 $17,920 $40,360
2015 $1,605 $58,280 $17,920 $40,360
2014 -- $58,280 $17,920 $40,360
2013 -- $68,680 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2022

    Tiffany Winchell

    Jackson Real Estate & Auction

    (865) 368-4568

    65 Total Sales

    Section Image
  • Steve Carpenter

    Buyer's Agent in 2022

    Steve Carpenter

    RE/MAX

    (423) 307-7542

    90 Total Sales

    Steve Carpenter
    Section Image
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Map

Source: Lakeway Area Association of REALTORS®

MLS Number: 604834

Lakeway Area Association of REALTORS®

APN: 034H-B-006.00

Tennessee Hamblen County Morristown 37814

509 E 3rd St N, Morristown, TN

This home is located at 509 E 3rd St N, Morristown, TN 37814 since 17 November 2021 and is currently estimated at $290,975, approximately $96 per square foot. This property was built in 1964. 509 E 3rd St N is a home located in Hamblen County with nearby schools including Hillcrest Elementary School, Meadowview Middle School, and Morristown East 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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