401 S Cherry St, Knoxville, TN 37914
- $180,000
- 3
- BD
- 2
- BA
- 1,170
- SqFt
- Sold Price
- $180,000
- List Price
- $182,500
- Closing Date
- Apr 30, 2025
- MLS#
- 1289480
- Status
- CLOSED
- Type
- Single Family Residential
- City
- Knoxville
- County
- Knox
- Bedrooms
- 3
- Bathrooms
- 2
- Living Area
- 1,170
- Year Built
- 1994
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
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Additional Information
- Acres
- 0.17
- Appliances
- Dishwasher, Range, Refrigerator
- Construction
- Frame, Brick
- Cooling
- Ceiling Fan(s), Central Air
- Floors
- Carpet, Tile, Hardwood
- Garage
- Off Street
- Living Area
- 1,170
- Lot Description
- Corner Lot
- Style
- Cottage
- Year Built
- 1994
Mortgage Calculator
Agent: Chris Sibley |
Office: Capstone Realty Group |
Selling Office: .