1296 Highway 156

South Pittsburg, TN 37380
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5 bd, 3 ba | 3,006 sqft | Built in 1989

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List Price
$330,000

Initial Investment

$89,925

Purchase Price

$330,000

Down Payment

25%

Rent

$3,390

Total Return

$261,277

Annualized Return

34.9%

Cap Rate

8.8%

Gross Yield

12.3%

Cash Flow

$9,541

Appreciation

10.5%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

54,450

HOA

None

Flood Risk

Not Required

Welcome to this spacious 5 bed, 3 bath South Pittsburg home in the heart of New Hope. Enjoy the outdoors on multiple decks and make use of two convenient storage sheds and a 25x30 workshop/garage. The full basement doubles as a separate apartment with a kitchen, living room, and two additional bedrooms. Ideal for flexible living arrangements and ample space for everyone. There is a 100amp box on the property that powers the garage and a spot for a camper. There are 2 septic tanks on the property which allows you to convert one of the storage sheds into a tiny home if desired. Explore the possibilities of this well-appointed property. Spanning over 3000 square feet, this home combines modern comfort with versatile living spaces. As you enter, you'll be greeted by a cozy living room that flows seamlessly into a sunroom which doubles as a wonderful home office. The kitchen features stainless steel appliances, ample cabinet space, butcher block countertops, and a walk in pantry. The master bedroom is on the main level with a spacious master bathroom and walk in closet. There are 2 additional bedrooms and 2 full bathrooms on the main floor. Venture downstairs to discover a fully finished basement that doubles as a self-contained apartment. Complete with a fully equipped kitchen, a spacious living room, and two additional bedrooms, this basement offers endless possibilities. Whether used as an in-law suite, guest quarters, or a private retreat, this versatile space adds significant value to the overall property. From the practical storage sheds to the flexible living arrangements provided by the basement apartment, every detail has been carefully considered. The property is not just a house; it's a haven that adapts to your lifestyle. Don't miss the opportunity to call this New Hope gem home!

See more in Analysis
Tracy Denton
eXp Realty LLC (Tracy Denton)
TN Agent License #337885

Annual Financial Highlights

Expected Rent

$38,646

Expenses

-$8,165

Property Taxes

-$3,000

Loan Payments

-$17,941

Net Cash Flow

$9,541

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Mary Weathers
Agent License 335545
RE/MAX Properties
Certified Agent Brokerage:Tracy Denton
eXp Realty LLC (Tracy Denton)
TN Brokerage License 262943
SourceGreater Chattanooga Association of Realtors, Inc. CMLS (CIE)
MLS #1386219
Last Updated: 07/25/2024 13:07
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