$1,899 Closing Credit¹
#1288682, Listing Office: LPT Realty, LLC
$182,500 List price
401 S Cherry St Knoxville, TN 37914
$2,167
Closing credit¹
3 beds
2 full
1,170 sqft
0.2 acres
$156 / sqft
House
Property details
About 401 S Cherry St
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
Highlights
Home typeSingle Family Residence
HeatingCentral, Natural Gas
StatusActive
CoolingCentral Air, Ceiling Fan(s)
Size1,170 sqft
Lot size0.17 Acres
Year built1994
ParkingOff Street
MLS #1289480
Summary
- MLS Number: 1289480
- MLS Name: East Tennessee REALTORS® MLS
- Office Name: Capstone Realty Group
- Office Phone: (865) 433-4663
- Office Email: sibleysellstn@gmail.com
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, 11:20:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$182,500
401 S Cherry St
$2,167
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Jul 14, 2023 | Home Sold | $99,000 |
| Jan 15, 2019 | Home Sold | $150,000 |
| Aug 19, 2011 | Home Sold | $20,600 |
| Aug 28, 1997 | Home Sold | $30,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $24,150 | $520 |
| 2022 | $24,150 | $520 |
| 2020 | $12,925 | $592 |
| 2019 | $12,925 | $592 |
| 2017 | $12,925 | $592 |
History based on county public records data.
Nearby schools
2
Sarah Moore Greene Magnet Academy
Public Magnet PK-5
0.9 mi
•3001 Brooks Ave
2
Green Magnet Academy
Public Magnet KG-5
1.5 mi
•801 Lula Powell Dr
3
Belle Morris Elementary School
Public District PK-5
1.8 mi
•2308 Washington Pike
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 $25,705. Most Knoxville, TN residents have annual incomes less than $<35k. Typical family type is single, no kids. Most residents in this area have high school diploma education.
How much money do the neighbors make?
65%
<35k
31%
35k-100k
2%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
54%
Single, No Kids
26%
Single, with Kids
13%
Married, No Kids
7%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
18%
<11 yrs old
10%
12-17 yrs old
23%
18-34 yrs old
36%
35-64 yrs old
13%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
NHRA Drag Racing
Mexican League Soccer
Where do the neighbors shop?
Family Dollar
Big Lots
Burlington
Where do the neighbors go to eat?
White Castle
Golden Corral
Church's Chicken
What do the neighbors drive?
Chevrolet
Kia
Buick
What do the neighbors listen to?
Rock
Adult Standards
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 401 S Cherry St
This home is located at 401 S Cherry St in Knoxville, TN and zip code 37914 in the Five Points neighborhood. This 1,170 square foot home, which was built in 1994, sits on a 0.17 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since February 9, 2025 and is currently priced at $182,500.
Knoxville, TN housing market in February 2025 saw over 54 listings sold above listed price, more than 61 sold at listed price and over 168 sold below. Between January and February 2025, Knoxville, TN real estate market has seen increase in the number of listings by 3%. In February 2025 median list price was $382,067 and the average listing age was 49 days.
From Rocket Homes Real Estate and based on county public records data.