479 Old Federal Rd SE Cleveland, TN 37323
Property details
About 479 Old Federal Rd SE
Income-Producing Quadplex in Cleveland, TN - Fully Leased! Discover this exceptional investment opportunity; a fully leased quadplex in the heart of Cleveland, TN! With a total of 3,306 sq. ft., this well-maintained property features four units, each offering spacious living with modern updates. Unit Breakdown: Units A & B: 2 bedrooms, 1 bathroom, 826.5 sq. ft. each. Units C & D: 1 bedroom, 1 bathroom, 826.5 sq. ft. each, with an additional room currently utilized as a bedroom which includes a closet but no window. All units feature an open-concept living room and kitchen, complete with electric range, refrigerator, and a convenient laundry closet. Ample parking is available for tenants, along with a 2-stall detached carport that includes a storage area. Recent Upgrades: 3 of the 4 units have been remodeled in the last 2 years, with updates including new doors, windows, kitchen cabinets, sinks, appliances, walk-in showers, faucets, lighting, outlets, closet organizers and a new water heater in one of the units. All 4 units have a HVAC unit that is approximately less than 2 years old. Each unit also boasts a large private deck, offering extra outdoor living space. Currently generating $4,500 per month in rental income, this property is a fantastic investment with immediate cash flow. Located close to excellent schools, shopping, and dining, this gem won't last long. Don't miss your chance to own this income-producing property. Call today for more details and to schedule your private showing!
Highlights
(Active Under Contract)
Summary
- Full Bathrooms: 4
- Appliances: Electric Range, Refrigerator
- Basement: Yes
- Flooring Type: Carpet
- Interior: Open Floorplan, High Speed Internet
- Parking: Concrete, Driveway
- Exterior: Rain Gutters
- Architectural Style: Other
- Heating: Central, Electric
- Cooling: Central Air
- List Price: $580,000
- Price/SqFt: $175
- Annual Tax Amount: $960
- Tax Year: 2023
- Lot: Sloped, Corner Lot
- Directions: From the intersection of Bell Road SE and Varnell Road SE - Head North on Varnell Road SE, Turn Right on Old Federal Road SE, Home on left.
- Year Built: 1977
- Living Area: 3,306 SqFt
- MLS Number: 20251489
- MLS Name: RiverCounties
- Office Name: RE/MAX Experience
- Office Phone: (423) 790-3086
- Office Email: markietta.munck@gmail.com
- Listing Agent: Jason Wright
Information obtained from TNRCAR. Information provided by seller/other sources, not verified by broker. All interested persons should independently verify accuracy of all information. Information deemed reliable but not guaranteed. Information provided is 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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/6/2025, 4:15:36 PM 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
$580,000
479 Old Federal Rd SE
$6,888
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 27, 2022 | Home Sold | $220,000 |
| Jun 21, 2005 | Home Sold | $115,634 |
| Oct 16, 1989 | Home Sold | $95,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $53,960 | $960 |
| 2022 | $53,960 | $960 |
| 2021 | $53,960 | $960 |
| 2020 | $57,480 | $1,277 |
| 2018 | $57,480 | $1,450 |
| 2017 | $57,480 | $1,073 |
History based on county public records data.
Nearby schools
5
Waterville Community Elementary School
Public District PK-5
1.1 mi
•4081 Dalton Pike SE
4
Blythe Bower Elementary School
Public District KG-5
2.1 mi
•604 20th St SE
6
Black Fox Elementary School
Public District KG-5
2.3 mi
•3119 Varnell Rd SW
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 $31,161. The most common annual income of people living in Cleveland, TN is less than $<35k. The most common type of family is married, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Extreme Sports
Figure Skating
Motocross
Where do the neighbors shop?
Academy Sports & Outdoors
Kmart
GameStop
Where do the neighbors go to eat?
Little Caesars
Bob Evans
Sonic
What do the neighbors drive?
Chevrolet
Buick
Jeep
What do the neighbors listen to?
Country
Oldies- Classic Country
Frequently asked questions
Living in Cleveland, TN
Cleveland's transport infrastructure supports both private and public transit options, with a focus on improving connectivity and reducing commute times. The city's layout promotes walkability in several districts, and there are initiatives to enhance bikeability. Major roads and highways facilitate travel to and from the city, and public transportation is available to assist residents in their daily commutes.
The community is served by a robust educational system, with multiple public and private schools catering to a range of educational needs. Healthcare services are comprehensive, with facilities offering a spectrum of care including urgent and primary care. The public library system supports lifelong learning, and the city's retail and dining establishments reflect the local culture, with an emphasis on Southern cuisine and hospitality.
Cleveland is celebrated for its vibrant community spirit and rich historical backdrop. The city prides itself on a calendar filled with local events and festivals that showcase its cultural heritage and foster a sense of togetherness among residents. The community's character is further defined by its scenic parks and commitment to preserving its unique Southern charm.
Cleveland's housing market offers a diverse array of options, with single-family homes being a significant presence. A mix of architectural styles is evident, ranging from traditional to contemporary, reflecting the city's growth over various periods. While the majority of homes are owner-occupied, a substantial portion of the population opts for rental properties, including apartments and townhouses.
About 479 Old Federal Rd SE
This home is located at 479 Old Federal Rd SE in Cleveland, TN and zip code 37323. This 3,306 square foot home was built in 1977. Features: 4 bathrooms. It has been listed on Rocket Homes since April 3, 2025 and is currently priced at $580,000.
In April 2025 more than 39 listings in Cleveland, TN were sold above the asking price. During the same period more than 61 listings were sold at asking price, while more than 106 were sold below. In April 2025 in Cleveland, TN there were 0.4% less homes for sale than in March. In April 2025 median list price was $320,000 and the average listing age was 43 days.