$650,000

205/207 E Washington Ave Athens, TN 37303

$7,719
Closing credit¹
5,412 sqft
0.08 acres
$120 / sqft
House

Property details

About 205/207 E Washington Ave

Huge income potential in Downtown Athens! Located in the heart of the city this property currently produces a gross income of over $100k a year and yields a 14% CAP rate. A return like this is unheard of! This property has so much to offer nearby and is conveniently walkable to restaurants, a coffee shop, shopping, and Tennessee Wesleyan University. It is the perfect property to own as the downtown area grows. All of the occupants have shared living agreements and pay weekly for their units. As you walk upstairs you will find a hallway with new flooring that leads to six individual rooms, a shared kitchen with newer cabinets, and shared single restrooms assigned by gender. The kitchen provides an electric stove/oven, refrigerator, and microwave that is shared by the occupants. In addition to the individual rooms, this building also boasts one full one bedroom apartment unit upstairs and two downstairs. All three of the one bedroom units have been remodeled. Unit 205 is a commercial space with hardwood floors, currently being rented as a boutique with large display windows that look out to Washington Ave. Don't miss out on the rare chance to own this piece of Downtown Athens.

Highlights

Home typeOther
HeatingCeiling, Natural Gas, Baseboard, Electric
StatusSale Pending
(Pending - Continue to Show - Financing)
CoolingOther
Size5,412 sqft
Lot size0.08 Acres
Year built1937
ParkingOn-Street Parking
MLS #1285504

Summary

  • MLS Number: 1285504
  • MLS Name: East Tennessee REALTORS® MLS
  • Office Name: VonKeith Properties
  • Office Phone: (818) 590-5842
  • Office Email: caleb@vonkeith.com

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX 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. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms.

The Knoxville Area Association of REALTORS® Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Information deemed reliable but not guaranteed. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.

Copyright © 2025 Knoxville Area Association of REALTORS® Multiple Listing Service.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/14/2025, 8:20:57 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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$650,000

205/207 E Washington Ave

$7,719

closing credit¹

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0.5% sale price²

Price information

Property sales

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Tax history

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Nearby schools

6

Westside Elementary School

Public District 3-5

0.8 mi

700 Westside St

5

North City Elementary School

Public District 3-5

1.3 mi

1601 Palos St

6

Meigs North Elementary School

Public District PK-5

12.6 mi

22015 State Highway 58 N

School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.

All data from GreatSchools

Neighborhood

The neighbors living near this home have an average income of $23,500. The majority of Athens, TN residents have income less than $<35k annually. Most families are single, no kids. Most residents in this area have high school diploma education.

How much money do the neighbors make?

64%
<35k
33%
35k-100k
2%
100k-200k
1%
200k+

What level of education do the neighbors have?

High School Diploma
Post Secondary Degree
Masters Degree

What types of families live nearby?

46%
Single, No Kids
12%
Single, with Kids
26%
Married, No Kids
16%
Married, with Kids

Are the neighbors home owners or renters?

Home Owners
Renters

How old are people in this area?

14%
<11 yrs old
8%
12-17 yrs old
20%
18-34 yrs old
42%
35-64 yrs old
16%
65+ yrs old

What do the neighbors do for fun?

  • Figure SkatingFigure Skating
  • Extreme SportsExtreme Sports
  • Pro WrestlingPro Wrestling

Where do the neighbors shop?

  • KmartKmart
  • Academy Sports & OutdoorsAcademy Sports & Outdoors
  • Wal-MartWal-Mart

Where do the neighbors go to eat?

  • Bob EvansBob Evans
  • Little CaesarsLittle Caesars
  • SonicSonic

What do the neighbors drive?

  • BuickBuick
  • ChevroletChevrolet
  • OldsmobileOldsmobile

What do the neighbors listen to?

  • OldiesOldies
  • CountryCountry
  • Contemporary InspirationalContemporary Inspirational
All data provided by Home Junction and Claritas

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Frequently asked questions

About 205/207 E Washington Ave

This home is located at 205/207 E Washington Ave in Athens, TN and zip code 37303. This 5,412 square foot home, which was built in 1937, sits on a 0.08 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since December 26, 2024 and is currently priced at $650,000.

Over 5 listings were sold over their listed price in February 2025 in Athens, TN. In the same period over 11 listings were sold below the listed price and 5 listings were sold for the listed price. In February 2025 in Athens, TN there were 2.1% more homes for sale than in January. While the average time on the market in February 2025 was 86 days, the median list price was $269,000.

From Rocket Homes Real Estate and based on county public records data.

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