159 Old State Rd

Knoxville, TN 37914
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3 bd, 1 ba | 1,749 sqft | Built in 1940

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List Price
$120,000

Initial Investment

$32,700

Purchase Price

$120,000

Down Payment

25%

Rent

$1,750

Total Return

$100,951

Annualized Return

39.4%

Cap Rate

11.5%

Gross Yield

17.5%

Cash Flow

$6,275

Appreciation

9.5%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

9,060

HOA

None

Flood Risk

Not Required

Attention Dream Home Seekers and Investors!
*SOLD AS IS*
Unlock the potential of this blank canvas and transform it into your dream house! Situated in a prime location with easy access to major interstate roads, this property offers endless possibilities.
Featuring the main house with the potential to become your ideal living space, complete with three bedrooms upstairs, and the added bonus of an in-law apartment downstairs, this home is perfect for multigenerational living or rental income.
Investors, take note! This property presents an excellent opportunity for short or long-term rental income. With the potential to convert the basement into a separate apartment with a private entry, you can maximize your rental returns.
Conveniently located just 6 minutes from the University of Tennessee and 7 minutes from West Town Mall, with easy access right off I-40, this property offers both convenience and potential.
And for those seeking a weekend getaway or exploring the music scene, Gatlinburg is just 38 miles away, while Nashville, the capital of music, is a mere 2.5 hours drive.
With no HOA fees and a competitive price, this property is your chance to increase equity through remodeling or start earning rental income right away.
Don't miss out on this incredible opportunity! Schedule a showing today!
This property is being advertised as a three-bedroom, one-bathroom home. However, according to the tax office records, it may appear as a four-bedroom, two-bathroom property. It seems there was an additional bathroom and bedroom downstairs at some point, but this is no longer the case. Buyers are advised to consider this information when evaluating the property. Please verify all details independently to ensure accuracy.
All measurements and information provided are obtained from the tax office and deemed reliable but not guaranteed. Buyer is responsible for obtaining their own information and verifying all details regarding the property. Contact the tax office for the most up-to-date data and details about this property.
SPANISH
Esta propiedad se está anunciando como una casa de tres habitaciones y un baño. Sin embargo, según los registros de la oficina de impuestos, podría aparecer como una propiedad de cuatro habitaciones y dos baños. Parece que en algún momento hubo un baño y una habitación adicionales en el piso de abajo, pero esto ya no es así. Se recomienda a los compradores que consideren esta información al evaluar la propiedad. Por favor, verifique todos los detalles de forma independiente para garantizar la precisión.
Todas las medidas e información proporcionadas son obtenidas de la oficina de impuestos y se consideran confiables pero no garantizados. El comprador es responsable de obtener su propia información y verificar todos los detalles sobre la propiedad. La exactitud de esta información no está garantizada. Comuníquese con la oficina de impuestos para obtener los datos más actualizados y detalles sobre esta propiedad.

See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852

Annual Financial Highlights

Expected Rent

$19,950

Expenses

-$6,051

Property Taxes

-$1,100

Loan Payments

-$6,524

Net Cash Flow

$6,275

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Alex Rodriguez
Agent License 368899
eXp Realty, LLC
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceKnoxville, TN
MLS #1256093
Last Updated: 04/22/2024 16:04
Disclaimer: The accuracy of this information is deemed reliable but not guaranteed or warrantied. All information should be independently verified before making purchase decisions. Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The content relating to real estate for sale on this website appears courtesy of the Multiple Listing Service (MLS) listed as the “Source” on this page. Individual listings appear with the permission of the real estate brokerage identified under the “Listing Agent” on this page.