174 Lance Ln Lafollette, TN 37766
Property details
About 174 Lance Ln
Looking for an income-generating property? Look no further for countless opportunities for revenue! This home can be an expansive single-family home that affords ample space & setup for a multigenerational family OR, with a few minor modifications, this can be a primary residence with up to 4 separate units to lease or use as short-term rental income. Opportunities galore! No need to worry about overpaying—there is an appraisal on file. Cash in your chips for instant equity; this home is priced at $35,000 below appraisal value; see appraisal on file. Discover the perfect blend of tranquility & generational wealth in this remarkable home tucked neatly away in the beautiful Cumberland Mountains. Nestled in Campbell County, just north of Knoxville, La Follette is a charming town where breathtaking mountain views meet a close-knit community. Once a thriving coal and iron hub, its history is steeped in resilience and hard work. What truly sets La Follette apart is its people—friendly, proud, and always ready to lend a helping hand. Here, neighbors support one another, and traditions run deep, creating an unparalleled sense of belonging. There are endless things to do, with stunning Norris Lake just 10 minutes away, the Tiki Club, ample parks like Lonas Young, Dr. Lee J. Seargeant, and Freeman parks, Chapman Hill Winery, and expansive trail rides like Royal Blue, Tackett Creek, Winrock & many more! This property features three primary suites, two on the main level, over 5,000 square feet of living space & multiple separate living areas, offering limitless potential. This dream home provides ample space for entertaining. Imagine the possibilities: with a few modifications, you can convert this home into a triplex or quadplex, maximizing rental income potential. With the ability to accommodate up to 4 units, the projected ROI is an impressive 10%, making it a fantastic investment opportunity. Enjoy serene moments on the back screened porch overlooking 2 wooded acres, unwind by the luxurious saltwater pool, hot tub, & pool house complete with a full kitchen & bathroom, or spend a relaxing evening by the firepit. Stargaze from the front porch. The studio apartment over the detached garage is ready for your first tenant or short-term guest today! Additional features include a brand-new roof with a transferable warranty, extensive storage, a bonus workshop under the pool house, & a charming playhouse. La Follette offers the perfect balance of small-town charm and modern conveniences, with just a 45-minute commute to downtown Knoxville. Don't miss out on this incredible investment & lifestyle opportunity. Come see all this property has to offer!
Highlights
Summary
- MLS Number: 1293086
- MLS Name: East Tennessee REALTORS® MLS
- Office Name: Keller Williams Realty
- Office Phone: (865) 694-5904
- Office Email: kentleadbetter@gmail.com
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Last updated on: 3/14/2025, 11:20:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$715,000
174 Lance Ln
$8,491
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Price information
Property sales
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Tax history
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Nearby schools
6
Valley View Elementary School
Public District PK-5
1.9 mi
•1187 Old Middlesboro Hwy
4
LaFollette Elementary School
Public District PK-5
2.9 mi
•195 Myers Ln
7
Jacksboro Elementary School
Public District PK-6
8.7 mi
•164 Jacksboro Elem School Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $32,879. The most common annual income of people living in Lafollette, TN is less than $<35k. Typical family type is married, no kids. The most common level of education of people living in this area is high school diploma.
Frequently asked questions
About 174 Lance Ln
This home is located at 174 Lance Ln in Lafollette, TN and zip code 37766 in the Esco Morton neighborhood. This 4,993 square foot home, which was built in 1989, sits on a 2.00 acre lot. Features: 6 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since March 12, 2025 and is currently priced at $715,000.
In February 2025, from all listings sold in Lafollette, TN there were more than 3 sold above asking price, over 16 sold below and more than 3 were sold right at the asked price. The number of listings in Lafollette, TN increased by 19% between January and February 2025. The median list price of listings available in February 2025 was $255,000, while the average time on the real estate market was 65 days.