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    Unique Mountain Property with Income Potential Title is generated by Realmo AI

    150 Rice Road, Flag Pond, TN 37657

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    Claim this Listing
    For Sale
    $890,000

    MULTI_FAMILY - Cottage, Craftsman - Flag Pond, TN

    Property size:
    3,200 SF
    Lot size:
    3.30 Acres
    Price / SF:
    $278/SF
    Added:
    Mar 22, 2026
    Days on Market:
    54
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 150 Rice Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residential
    Bedrooms
    7
    Bathrooms
    4
    Rooms
    Basement, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Dining Room
    Parking features
    Driveway
    Security features
    Security
    Window features
    Window Treatments
    Patio and Porch features
    Patio, Porch
    Interior features
    Balcony, Built In Safe, Kitchen Island, Kitchen/Dining Combo, Open Floorplan, Pantry, Solid Surface Counters, Utility Sink
    Exterior features
    Balcony, Garden
    Fireplace
    1
    Basement
    Finished, Interior Entry, Block, Walk-Out Access, Concrete
    Appliances
    Dishwasher, Gas Range, Microwave, Range, Refrigerator, Washer, Water Softener, Water Softener Owned
    Standard status
    Active
    APN
    068 070.00
    Size
    3,200 SF
    Lot size
    3.30 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1788

    Utilities

    Utilities
    Propane
    Sewer type
    Septic Tank
    Heating system
    Fireplace(s), Wood, Heat Pump (Heating), Central, Wood Stove, Propane (Heating)
    Cooling system
    Central Air, Heat Pump, Ceiling Fan(s)
    Water source
    Private, Well

    Building Details

    Year built
    2018
    Floors in Building
    3
    Number of units
    13
    Flooring type
    Carpet, Hardwood, Tile, Vinyl, Concrete
    Building materials
    Stone, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Craftsman, Cottage
    Additional Structures
    Arena

    We can help!

    Listing Contact
    Victoria Nelson

    Listing agent Victoria Nelson License #383444

    Listing office Weichert Realtors Saxon Clark KPT 555 E Main St, TN

    Listing date Mar 22, 2026

    MLS# 9992704 Listing URL

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Private, gated mountain property at the end of a dead‑end road, offering seclusion and security.
    • Main residence with durable ICF concrete construction and propane systems, including a 10,000‑watt Generac generator.
    • Separate 1‑bedroom cabin with its own driveway and septic system, providing income potential or guest accommodation.
    • Extensive improvements including an art studio, bunkhouse, off‑grid kitchen, greenhouses, and established gardens with fruit trees and berries.
    • Open‑concept main residence with cathedral ceilings, rock accent walls, a loft, and flexible‑use rooms.
    • No HOA and high‑speed internet available, combining freedom with modern connectivity.

    Overview

    This unique mountain property offers privacy, versatility, and extensive improvements. Located at the end of a county-maintained dead-end road, the gated property is suited for full-time living, multi-generational use, or potential income opportunities. The custom-built main residence features durable ICF concrete construction and a French drain system. It also includes 200 AMP electrical service, and propane systems including a furnace, on-demand water heater, and a 10,000-watt Generac generator. The interior features an open-concept living area with cathedral ceilings, rock accent walls, a propane stove, a loft overlooking the main level, and multiple flexible-use rooms suitable for bedrooms, office space, or studio use. A separate 1-bedroom cabin, built in 2016, includes its own driveway, septic system, propane heat, a wood stove, and on-demand hot water, offering potential for guest accommodation or rental use. Additional improvements include an art studio with a basement, a bunkhouse, an off-grid kitchen, an outdoor bath with hot and cold water, two greenhouses, a chicken coop, and multiple storage buildings. The property features a year-round stream, mountain views, established gardens, fruit trees, berries, and perennial plantings. The 3.3-acre lot has a shared well servicing both the main home and cabin. High-speed internet is available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Travel Agency

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flag Pond
    County
    Unicoi
    State
    Tennessee
    Longitude
    -82.570173
    Latitude
    35.982193

    FAQs

    What type of property is this?
    Specialty property - Private mountain property ideal for living, multi-generational use, or income.
    Where is this specialty property located?
    The property is located at 150 Rice Road Flag Pond, TN.
    What is the asking price?
    The asking price for this property is $890,000.
    What are key features of this property?
    This property features: Private, gated mountain property at the end of a dead‑end road, offering seclusion and security.; Main residence with durable ICF concrete construction and propane systems, including a 10,000‑watt Generac generator.; Separate 1‑bedroom cabin with its own driveway and septic system, providing income potential or guest accommodation.
    (423) 823-4204
    We can help!
    Listing Contact
    Victoria Nelson
    Real Estate License ID: 383444
    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.

    More about this property
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