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For sale
    • Price cut: $5K (5/14)
    $255,000

    1987 Joe Stephens Rd, Morristown, TN 37814

    3beds
    --sqft
    : 
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    Duplex, Multi Family
    Built in 1952
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Patio behind the home
    This income-producing property generates a combined monthly rental income of $1,950, delivering immediate cash flow for investors from day one. Currently configured as a duplex with both apartments sharing electric and water meters, the setup supports efficient operation while maintaining strong rental performance. Offering both convenience and long-term flexibility, this property presents a solid opportunity for steady income and future upside. The versatile layout allows investors to continue operating the home as a multi-family rental or convert the property into a single-family residence with a private mother-in-law suite for added value. Additional features include a fenced backyard area and rear patio, enhancing tenant desirability and outdoor living space. With strong rental functionality and multiple possibilities for future use, this property presents an attractive opportunity for both seasoned investors and owner-occupants seeking supplemental income. Please contact the listing agent to schedule all showings.
    304 days
    |
    481
    |
    17
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Trey Cate 865-310-8786,

    The Cate Group, Realty & Property Management LLC 865-350-6411

    Source: Lakeway Area AOR,MLS#: 708974MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 2
      • Full bathrooms: 2
      Heating
      • Central, Varies by Unit
      Cooling
      • Ceiling Fan(s), Central Air, Wall Unit(s)
      Appliances
      • Included: Dishwasher, Dryer, Electric Oven, Electric Range, Refrigerator, Washer
      • Laundry: Common Area, Electric Dryer Hookup, Gas Dryer Hookup, Laundry Room
      Features
      • Flooring: Combination, Luxury Vinyl, Wood
      • Common walls with other units/homes: 1 Common Wall
      Interior area
      • Finished area above ground: 1,736
      • Finished area below ground: 0

      Property

      Features
      • Levels: One
      • Stories: 1
      • Patio & porch: Covered, Patio
      • Exterior features: Balcony, Rain Gutters
      • Fencing: Back Yard
      Lot
      • Size: 0.87 Acres
      Details
      • Parcel number: 032

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Duplex, Multi Family
      Materials
      • Vinyl Siding
      • Foundation: Slab
      • Roof: Shingle
      Condition
      • New construction: No
      • Year built: 1952

      Utilities & green energy

      • Electric: Circuit Breakers
      • Sewer: Septic Tank
      • Water: Public
      • Utilities for property: Electricity Connected, Water Connected

      Community & HOA

      Location
      • Region: Morristown

      Financial & listing details

      • Tax assessed value: $221,400
      • Annual tax amount: $503
      • Date on market: 3/12/2026
      • Inclusions: Kitchen Appliances: Refrigerator and stove Other: Washer and dryer
      • Tenant pays: All Utilities, Trash Collection
      • Electric utility on property: Yes
      • Road surface type: Paved

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $1,414/mo

        Price history

        DateEventPrice
        5/14/2026Price change$255,000-1.9%
        Source: Lakeway Area AOR #708974 Report a problem
        4/7/2026Price change$260,000-3%
        Source: Lakeway Area AOR #708974 Report a problem
        10/29/2025Price change$268,000-2.5%
        Source: Lakeway Area AOR #708974 Report a problem
        9/11/2025Listed for sale$275,000
        Source: Lakeway Area AOR #708974 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$1,302 +158.4%$88,560 +246.3%
        2024$504 $25,575
        2023$504 $25,575
        2022$504 $25,575
        2021$504 $25,575
        2020$504 +6.2%$25,575 +14.8%
        2019$474 $22,275
        2018$474 +0.1%$22,275
        2017$474 $22,275
        2016$474 +15%$22,275
        2015$412 $22,275
        2014-- $22,275 -7.7%
        2013-- $24,125
        2011$446 $24,125
        2010$446 $24,125
        2009-- $24,125 +13.4%
        2008$468 $21,275
        2007$468 +4.8%$21,275
        2006$447 $21,275
        2005$447 -11%$21,275
        2004$502 +42.1%$21,275 +42.1%
        2003$353 $14,975 +2.5%
        2001-- $14,614 -75%
        2000-- $58,457
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 37814

        Getting around

        0 / 100
        Car-Dependent

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Manley
        • Middle: Westview
        • High: West

        Source: Lakeway Area AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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