$180,000
$182,500
1.4%For more information regarding the value of a property, please contact us for a free consultation.
401 Cherry St Knoxville, TN 37914
3 Beds
2 Baths
1,170 SqFt
Key Details
Sold Price $180,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 1,170 sqft
Price per Sqft $153
MLS Listing ID 1289480
Sold Date 04/30/25
Style Cottage
Bedrooms 3
Full Baths 2
Year Built 1994
Lot Size 7,405 Sqft
Acres 0.17
Property Sub-Type Single Family Residence
Source East Tennessee REALTORS® MLS
Property Description
Seller says bring all offers!!
**Steady Income Investment with Long-Term Tenant - 401 S Cherry St, Knoxville, TN**
Investors, here's a rare opportunity to own a **3-bedroom, 2-bathroom** rental property with a **long-term, reliable tenant** in place. This home is currently leased to a **KCDC tenant** who has lived in the property for over **15 years**, consistently paying **on time** and expressing a desire to stay.
While the **current rent of $1,260/month is below market**, a structured **20% annual increase** has been agreed upon with the tenant until market rent is achieved, making this a **high-upside investment** with built-in growth potential.
The home itself is well-maintained, offering a **functional layout** and solid structure, minimizing maintenance concerns. Located in a convenient area with **strong rental demand**, this property is perfect for an investor looking for **stability and future appreciation**.
Don't miss this **turnkey, cash-flowing asset** with a built-in rent growth strategy. **Schedule a viewing today!**
Owner/Broker
Location
State TN
County Knox County - 1
Area 0.17
Rooms
Basement Crawl Space
Interior
Heating Central, Natural Gas
Cooling Central Cooling, Ceiling Fan(s)
Flooring Carpet, Hardwood, Tile
Fireplaces Type None
Fireplace No
Appliance Dishwasher, Range, Refrigerator
Heat Source Central, Natural Gas
Exterior
Exterior Feature TV Antenna
Parking Features Off-Street Parking
Garage Description Off-Street Parking
Garage No
Building
Lot Description Corner Lot, Level
Faces Use GPS
Sewer Public Sewer
Water Public
Architectural Style Cottage
Structure Type Brick,Frame
Others
Restrictions No
Tax ID 082ND017
Energy Description Gas(Natural)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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