Morristown Duplex with Income
For Sale
$255,000
1987 Joe Stephens Road, Morristown, TN 37814
MULTI_FAMILY - Morristown, TN
Property SizeContact for details
Lot Size0.87 Acres
Days on Market348
Property Features for 1987 Joe Stephens Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Laundry Room
Patio and Porch features
Patio
Exterior features
Balcony, Rain Gutters
Appliances
Dryer, Dishwasher, Electric Oven, Electric Range, Refrigerator, Washer
Elementary school
Manley
Middle school
Westview
High school
West
Directions
Traveling East on 11E, stay on the highway until you get to the red light in front of Ingles that allows you to turn on to Kidwell Ridge Rd. Take a left at the light, and travel down the road until you veer slightly to the right on to Joe Stephens Road. Once on this road, follow it until you see the home up on a hill to your left.
Standard status
Active
APN
032
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
504
Utilities
Sewer type
Septic Tank
Heating system
Central, Varies by Unit (Heating)
Cooling system
Ceiling Fan(s), Wall Unit(s), Central Air
Water source
Public
Building Details
Year built
1952
Floors in Building
1
Number of units
2
Flooring type
Wood, Vinyl, Combination
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
The Cate Group, Realty & Property Management LLC
(865) 350-6411
Listed By:
Trey Cate · License #378622
(865) 310-8786
Added: Sep 10, 2025
Changed: Jul 25
Last Checked: Aug 23 at 6:06PM
MLS# 708974
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.
Investment Insights
Based on property information with market context.
This income-producing property, located in Morristown, TN, generates a combined monthly rental income of $1,950, providing immediate cash flow for investors. Configured as a duplex, both apartments share electric and water meters. The property offers both convenience and long-term flexibility, presenting a solid opportunity for steady income. 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. Additional features include a fenced backyard area and rear patio, enhancing tenant desirability and outdoor living space. The property is situated on a 0.87-acre lot. With rental functionality and multiple possibilities for future use, this property presents an attractive opportunity for both seasoned investors and owner-occupants seeking supplemental income.
Key Highlights
- Income‑producing duplex generating combined monthly rental income of $1,950
- Configured as a duplex with both apartments sharing electric and water meters
- 1952‑built home with wood/vinyl/combination flooring, vinyl siding exterior, and a shingle roof
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 37814, TN
34,130
Population
15,287
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
88%
High-School Grad
43.9 sq mi
ZIP Area
777
Density / Sq Mi
$51,083
Median Household Income
$35,062
Median Earnings
$859
Median Rent
$192,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex in Morristown, TN with conversion potential.
Where is this duplex located?
The property is located at 1987 Joe Stephens Road Morristown, TN.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Income‑producing duplex generating combined monthly rental income of $1,950; Configured as a duplex with both apartments sharing electric and water meters; 1952‑built home with wood/vinyl/combination flooring, vinyl siding exterior, and a shingle roof
