#1288682, Listing Office: LPT Realty, LLC
401 S Cherry St Knoxville, TN 37914
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
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
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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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$182,500
401 S Cherry St
$2,167
closing credit¹
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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.
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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.