Two-Home Multifamily
544 Possum Creek Road, Bluff City, TN 37618
For Sale
$240,000
Pending
Multi Family, Bluff City, TN
Property Size2,252 SF
Lot Size1.00 Acre
Days on Market41
Property Features for 544 Possum Creek Road
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Window features
Patio and Porch features
Interior features
Appliances
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
mountain views
outbuilding
carport
ramp access
storage
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Buildings
Listing Agency:
Summit Properties
(423) 830-1133
Listed By:
Richard Sharrett · License TN #379048
(865) 617-1391
Added: Oct 2
Changed: Oct 29
Last Checked: Nov 11 at 1:06PM
MLS# 10001651
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.
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Investment Insights
Based on property information with market context.
The property includes two residences with a combined 2,252 square feet of living area on 1 acre. One home has 3 bedrooms and 1 bathroom across approximately 1,196 square feet; the other offers 2 bedrooms, 1.5 bathrooms, and approximately 1,056 square feet. Both houses have updated roofs and HVAC systems. The second residence also features new flooring, quartz kitchen countertops, custom cabinetry, built-in bedroom storage, and a walk-in closet. Each home has a 12' x 12' outbuilding, and a shared parking area serves both residences.
Located in Bluff City, the property has distant mountain views and is near the South Fork Holston River and South Holston Lake. Bristol-area shopping, restaurants, and medical facilities are a short drive away.
Located in Bluff City, the property has distant mountain views and is near the South Fork Holston River and South Holston Lake. Bristol-area shopping, restaurants, and medical facilities are a short drive away.
Key Highlights
- Two residences totaling 2,252 square feet on 1 acre
- First home: 3 bedrooms, 1 bathroom, approximately 1,196 square feet
- Second home: 2 bedrooms, 1.5 bathrooms, approximately 1,056 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,731
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,620
$314.6K
Cap Rate 7%
$224,729
$224.7K
Cap Rate 9%
$174,789
$174.8K
Market Conditions
NOI Build-Up for 2,252 SF
Gross rent
$30.3K $13.44/SF
− Vacancy
−$1.7K −$0.74/SF
EGI
$28.6K $12.70/SF
− OpEx
−$12.9K −$5.72/SF
NOI
$15.7K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,620
Cap Rate 7%
$224,729
Cap Rate 9%
$174,789
Alternative Uses
Best Use
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,731 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$843.3K
$737.9K – $983.9K
NOI $59,033 @ 7.0% cap · market cap 24.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
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Business Placement
Demographics for 37618, TN
12,729
Population
6,250
Households
2
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
69.3 sq mi
ZIP Area
184
Density / Sq Mi
$58,413
Median Household Income
$37,003
Median Earnings
$880
Median Rent
$174,000
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Sullivan County, TN
Properties on Market for Multifamily properties in Sullivan County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate residences provide distinct living spaces on a shared parcel.
Where is this multifamily property located?
The property is located at 544 Possum Creek Road Bluff City, TN.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two residences totaling 2,252 square feet on 1 acre; First home: 3 bedrooms, 1 bathroom, approximately 1,196 square feet; Second home: 2 bedrooms, 1.5 bathrooms, approximately 1,056 square feet
