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    227 Elihu Road Sneedville, TN 37869

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    Claim this Listing
    For Sale
    $100,000

    LAND - Sneedville, TN

    Type:Single Family Residence
    Property size:
    830 SF
    Lot size:
    7.00 Acres
    Price / SF:
    $120/SF
    Added:
    Dec 10, 2025
    Days on Market:
    142
    Last Refresh:
    May 1 at 10:06 pm

    Property Features for 227 Elihu Road

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Fencing
    Barbed Wire
    Standard status
    Active
    APN
    054 06400 000
    Size
    830 SF
    Lot size
    7.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    275

    Utilities

    Utilities
    Phone Available

    Building Details

    Additional Structures
    Residence

    We can help!

    Listing Contact
    Teresa M Suarez

    Listing agent Teresa M Suarez License #324741

    Listing office Creek Country Real Estate 122 Walnut Street, Sneedville, TN

    Listing date Dec 10, 2025

    MLS# 709854 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.

    Overview

    Sneedville Land with Development Potential

    This 7-acre property in Sneedville, TN, presents an opportunity for a mini-farm or a home site. The land, cleared and developed with fields and surrounding woods, may have functioned as a farm since the 1930s. The property includes an old house of approximately 830 square feet, which, while in poor condition with small rooms and low ceilings, could potentially be used for storage or, with renovations, retain its historic flavor. The land offers potential home sites, with views that could be magnified further up the hill. An established inroad leads up the hill. The seller lived in the house until recently. An old septic system may still be functional if water is accessible. Water was previously supplied by a city-maintained spring, but this source is no longer viable due to broken pipes. A field across Elihu Road is also part of the property. The property can be used for various purposes. There may be a pump that was used to draw water from the spring. A single burial site with a headstone is located on the property near the barn. The Clinch School K-12 is highly regarded in the area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Sneedville
    County
    Hancock
    State
    Tennessee
    Longitude
    -83.17474
    Latitude
    36.506076

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 7-acre land with development potential and possible historic home.
    Where is this agricultural land / farmland located?
    The property is located at 227 Elihu Road Sneedville, TN.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: Ample land suitable for a mini‑farm or custom home site; Beautiful fields and woods provide privacy and scenic views; Established inroad to potential home sites with magnified views
    (423) 733-9380
    We can help!
    Listing Contact
    Teresa M Suarez
    Real Estate License ID: 324741
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    227 Elihu Road, Sneedville, TN 37869

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