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Property profile & analytics
OFF-MARKET
Residential income homes
331 Wilkie Ave Morristown, TN 37814-2712
Entity Owned
20-yr Hold
Free & Clear
Property ID
US80-0865582
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1940
Total area
3,415 SF
Lot
0.52 ac (22,651 SF)
Zoning code
R2
APN
032033N K 00700
UPID
US80-0865582
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Miller & Miller Properties LLC · 20 yrs held
Miller & Miller Properties LLC
since 2006
4 recorded transactions
Zoning & alternative use
R2 · Morristown, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This is a residential district to provide for medium population density, the principal uses of land may range from single family to medium density multi family apartment uses, certain uses which are more compatible functionally with intensive residential uses than with commercial uses are permitted
Zone name
Medium Density Residential District
General category
COMMERCIAL
Zone area
5,094.05 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$53,840
Assessed 2023
Previous assessed
$53,840
+0.0% YoY
Assessed land
$12,840
Assessed improvement
$41,000
Land market value
$32,100
Improvement market value
$102,500
Total market value
$134,600
Applied tax rate
32.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1940
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
4
Bathrooms
4
Total area
3,415 SF
Lot
0.52 ac (22,651 SF)
Zoning code
R2
APN
032033N K 00700
UPID
US80-0865582
Jurisdiction
HAMBLEN
Zoning & alternative use
R2 · Morristown, TNZoning R2 · permitted uses
R2 · Morristown, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This is a residential district to provide for medium population density, the principal uses of land may range from single family to medium density multi family apartment uses, certain uses which are more compatible functionally with intensive residential uses than with commercial uses are permitted
Zone name
Medium Density Residential District
General category
COMMERCIAL
Zone area
5,094.05 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1940
Heating
YES
Cooling
Yes
Stories
1
Units
4
Bathrooms
4
Lot
0.52 ac
Current owner
From public records · entity-resolved
Miller & Miller Properties LLC
Entity
Free & Clear · 20 yrs held
Mailing address
1009 MEADOWLARK DR, MORRISTOWN, TN 37814-3361
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2006
—
Miller & Miller Properties LLC
Miller,max & Susan M
Quit Claim Deed
related
—
Aug 5, 2003
$132,500
Miller Properties
Rhodes,denver L
Grant Deed
—
Dec 19, 1994
—
Maurice Hatcher
Unknown,
Grant Deed
$94,854 · Hamblen County Bank
May 24, 1990
$47,000
Maurice Hatcher
Unknown,
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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