$182,500

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

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, 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

view of front facade featuring covered porch and a front lawn

$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

DateEventPrice
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

YearAssessmentProperty 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.

All data from GreatSchools

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 BoxingPro Boxing
  • NHRA Drag RacingNHRA Drag Racing
  • Mexican League SoccerMexican League Soccer

Where do the neighbors shop?

  • Family DollarFamily Dollar
  • Big LotsBig Lots
  • BurlingtonBurlington

Where do the neighbors go to eat?

  • White CastleWhite Castle
  • Golden CorralGolden Corral
  • Church's ChickenChurch's Chicken

What do the neighbors drive?

  • ChevroletChevrolet
  • KiaKia
  • BuickBuick

What do the neighbors listen to?

  • RockRock
  • Adult StandardsAdult Standards
  • Urban Adult ContemporaryUrban Adult Contemporary
All data provided by Home Junction and Claritas

Similar homes for sale

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.

More resources