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About This Home

This 3-bedroom, 2-bathroom residential multi family at 1987 Joe Stephens Road in Morristown, TN is listed for $255,000. Built in 1952, on a 0.87 acres lot.

Agent Description

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.

Key Features

  • Built in 1952
  • 0.87 acre lot

Property Details

1 story
2 full
1952

Amenities

A/C

Monthly Cost Estimate

$1,364/mo

20% down · 6.5% · 30 years

Principal$184
Interest$1,105
Insurance$74

Estimates only. Actual payments may vary.

Location

1987 Joe Stephens Road

Morristown, TN 37814

Features & Amenities

Exterior Features

BalconyRain Gutters

Property Details

Flooring

VinylWoodCombination

Construction

Vinyl Siding

Pool Features

Patio

Heating

CentralVaries by Unit (Heating)

Cooling

Ceiling Fan(s)Wall Unit(s)Central Air

Appliances

DryerDishwasherElectric OvenElectric RangeRefrigeratorWasher

Questions & Answers

This 3-bedroom, 2-bathroom residential multi family at 1987 Joe Stephens Road is listed at $255,000. The estimated monthly payment is $1,105 based on 20% down at 6.5% interest.

Key features include: Built in 1952, 0.87 acre lot. Exterior Features: Balcony, Rain Gutters.

This property is listed by Trey Cate and can be reached at 8653108786 or trey@thecategroup.com.

TC

Trey Cate

Agent at The Cate Group, Realty & Property Management LLC

(865) 310-8786

Listed by The Cate Group, Realty & Property Management LLC · View on Broker Site

MLS# 708974· Source: listhub· Updated 264 days ago

Copyright © 2026 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

1987 Joe Stephens Road, Morristown, TN 37814

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