1987 Joe Stephens RdMorristownTN37814
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Morristown at 1987 Joe Stephens Rd, Morristown, TN, 37814 listed at $275,000 pairs $1,384/mo rent with a $1,346/mo payment. Total monthly income runs $1,384/mo. Return on cash invested measures 16.46% in year one, and rental yield registers 6.04% at a $275,000 basis. Equity gained on principal adds $1,775/yr, and annual property appreciation at 5% supports $75,977 by year five. Five-year ROI tracks 84.06% and total cumulative return in cash totals $76,631. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,384/mo property income relative to a $1,346/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Multi Family
Built in 1952
0.87 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 37814, Morristown, TN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,714 (100%) |
| Owner Occupied HU | 9,232 (62.7%) |
| Renter Occupied HU | 4,347 (29.5%) |
| Vacant Housing Units | 1,135 ( 7.7%) |
| Median Home Value | $259,404 |
| Average Home Value | $297,696 |
Housing Distribution
Address Breakdown
Residential
14,684
Single Family
14,205
Multi-Family
479
Businesses
1,032
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Listed by: Trey Cate • The Cate Group, Realty & Property Management LLC
Mls Name: Lakeway Area AOR
Mls ID: #708974