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Morristown Duplex with Income Potential

1987 Joe Stephens Road, Morristown, TN 37814

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For Sale

$255,000

MULTI_FAMILY - Morristown, TN

Lot size:

0.87 Acres

HighLights

Income‑producing duplex with combined monthly rental income of $1,950
Configured as a duplex with both apartments sharing electric and water meters
Fenced backyard area plus rear patio for outdoor space
Year built 1952; vinyl siding exterior and shingle roof
Public water and septic tank sewer; includes refrigerator, dishwasher, and washer/dryer
Central heating and cooling with a mix of central air and wall units; ceiling fans and rain gutters

We can help!

Listing Contact

Trey Cate

For Sale

$255,000

MULTI_FAMILY - Morristown, TN

Lot size:

0.87 Acres

Added:: Sep 10, 2025
Days on Market:: 277
Last Refresh:: Jun 13 at 3:06 pm

Property Features for 1987 Joe Stephens Road

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 3
Bathrooms: 2
Rooms: Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Laundry Room, Bedroom 1
Patio and Porch features: Patio
Exterior features: Balcony, Rain Gutters
Appliances: Dryer, Dishwasher, Electric Oven, Electric Range, Refrigerator, Washer
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), Central Air, Wall Unit(s)
Water source: Public

Building Details

Year built: 1952
Floors in Building: 1
Number of units: 2
Flooring type: Vinyl, Wood, Combination
Building materials: Vinyl Siding
Roof type: Shingle

We can help!

Listing Contact

Trey Cate

Listing agent Trey Cate License #378622

Listing office The Cate Group, Realty & Property Management LLC 303 Rocktown Road, Jefferson City, TN

Listing date Sep 10, 2025

MLS# 708974 Listing URL

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.

HighLights

Income‑producing duplex with combined monthly rental income of $1,950
Configured as a duplex with both apartments sharing electric and water meters
Fenced backyard area plus rear patio for outdoor space
Year built 1952; vinyl siding exterior and shingle roof
Public water and septic tank sewer; includes refrigerator, dishwasher, and washer/dryer
Central heating and cooling with a mix of central air and wall units; ceiling fans and rain gutters

Overview

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.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Morristown
County: Hamblen
State: Tennessee
Longitude: -83.366702
Latitude: 36.221581

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For sale
Duplexes
TN
Morristown
37814
1987 Joe Stephens Road

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 with combined monthly rental income of $1,950; Configured as a duplex with both apartments sharing electric and water meters; Fenced backyard area plus rear patio for outdoor space

1987 Joe Stephens Road, Morristown, TN 37814

MULTI_FAMILY - Morristown, TN

Property Features for 1987 Joe Stephens Road

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Morristown Commercial Property For Sale

Office Building Former Finance Office

Turnkey Commercial Space in Morristown

Updated Duplex with Two 3BR Units

Light Manufacturing/Industrial Property For Sale

Established Auto Parts Business

Road-Fronted Commercial Property

Morristown Industrial/Self-Storage Opportunity

Versatile Building with Commercial Kitchen

Freestanding Restaurant with Drive-Thru

Dollar General Investment Opportunity

Morristown Turnkey Investment Opportunity

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