Seller's Agent in 2025
Heather Walker
RE/MAX
(423) 231-9766
50 in this area
97 Total Sales
Estimated Value: $234,000 - $243,922
Turn-Key Triplex in the Heart of Morristown—Fully Leased & Cash-Flowing
Expand your portfolio with this income-producing triplex offering three rentable spaces: two side-by-side main-level units plus a basement efficiency—each occupied on annual leases. Current figures show approx. $29,400 gross annual income, $24,965 estimated net income, and an approx. 10% cap rate based on present leases and expenses. Recent improvements include a newly renovated bathroom in Unit B and an improved crawl space for peace of mind. Tenants enjoy 1-2 off-street parking spaces per unit and a convenient location close to shopping, dining, and major thoroughfares. If you're seeking steady cash flow in a prime Morristown setting, this property checks the boxes!
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Cherokee Associates Lp | -- | -- | |
| Hyde Arthur Thomas | $22,900 | -- | |
| Nelson Elizabeth | -- | -- | |
| Nelson George E | $15,000 | -- |
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/08/2025 12/08/25 | Pending | -- | -- | -- |
| 10/16/2025 10/16/25 | For Sale | $249,900 | 0.0% | $106 / Sq Ft |
| 09/27/2025 09/27/25 | Pending | -- | -- | -- |
| 09/23/2025 09/23/25 | For Sale | $249,900 | -- | $106 / Sq Ft |
| 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 | $796 | $60,800 | $13,480 | $47,320 |
| 2024 | $567 | $32,200 | $11,240 | $20,960 |
| 2023 | $567 | $32,200 | $0 | $0 |
| 2022 | $1,102 | $34,880 | $11,240 | $23,640 |
| 2021 | $1,102 | $34,880 | $11,240 | $23,640 |
| 2020 | $1,101 | $34,880 | $11,240 | $23,640 |
| 2019 | $1,025 | $30,160 | $7,720 | $22,440 |
| 2018 | $950 | $30,160 | $7,720 | $22,440 |
| 2017 | $935 | $30,160 | $7,720 | $22,440 |
| 2016 | $893 | $30,160 | $7,720 | $22,440 |
| 2015 | $831 | $30,160 | $7,720 | $22,440 |
| 2014 | -- | $30,160 | $7,720 | $22,440 |
| 2013 | -- | $31,280 | $0 | $0 |
Seller's Agent in 2025
Heather Walker
RE/MAX
(423) 231-9766
50 in this area
97 Total Sales
Ask me questions while you tour the home.