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Archived over 2 years ago

$230,000

3 bd 4+ ba 2600 sqft

1645 Cordell Hull Drive, Morristown, TN 37814

Residential SFR Occupied Needs Repairs Off MLS

Current Rent **

N/A

Projected Rent **

$2,500

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Posted By:

Tim Ivory

Need A Cash Buyer for Morristown TN Flip 230K (ARV 425K)

Rare opportunity to flip a house in one of Morristown's most desirable neighborhoods.

Located near the country club in Morristown TN, the drive through the neighborhood to reach the property is stunning. This 3 bed/ 4 bath home has 2 beds/ 2 bath on main with 2645 finished sqft plus a full unfinished basement.. Downstairs in the unfinished basement find the 3rd bedroom, bonus room and 2 additional bathrooms. The property has a large deck 19x36 with an impressive cityscape view, especially at night and is surrounded by mountains.

After Repair Value of $400,000 -425,000

Repairs: Upstairs cosmetic, downstairs unfinished basement. There is some evidence of past moisture issues downstairs that have been remediated by reconnecting gutters and running water
away from the foundation.

Roof age 15 Years

HVAC age 15 Years

Built in 1976

Market rent: $2500 or convert basement to additional rental or airbnb for more income.

Address: 1645 Cordell Hull Dr Morristown, TN 37814

Priced to sell at $230k, AS IS. Cash or hard money loan only.

Click to see Photos : https://drive.google.com/drive/folders/1EbNfxFqdckW1gBDtdAQwvliP0jJmTO1F?usp=sharing

Location:

1645 Cordell Hull Drive, Morristown, TN 37814

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.