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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Residential income homes
600 Pleasant Ave, Morristown, TN 37813-2140
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-0789192
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1968
Construction
WOOD
Total area
16,893 SF
Lot
0.68 ac (29,621 SF)
APN
032041D E 00600
UPID
US80-0789192
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
$1.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$941k
Blend (final)
Blend
$1.22M
Owner & transaction history
Joyce Jolley · 5 yrs held
Joyce Jolley
since 2021
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.4M
+20.9%
Commercial (general)
$1.3M
+16.9%
Auto repair, garage
$1.3M
+14.1%
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
Method
Estimation
Statistic approach
$1,235,000
ML approach
$1,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,135,000
Current use
RESTAURANT
$1,370,000
Change: +21% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,325,000
Change: +17% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,295,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$1,240,000
Change: +9% · Conversion: Difficult
MEDICAL BUILDING
$1,070,000
Change: -6% · Conversion: Moderate
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±10% · vs last sale $1.18M (May 6 2021)
Last sale anchor
$1.18M
May 6 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$72 / SF
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
$275,000
Assessed 2023
Previous assessed
$275,000
+0.0% YoY
Assessed land
$36,520
Assessed improvement
$238,480
Land market value
$91,300
Improvement market value
$596,200
Total market value
$687,500
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
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
1968
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Rooms
1
Bathrooms
24
Total area
16,893 SF
Lot
0.68 ac (29,621 SF)
APN
032041D E 00600
UPID
US80-0789192
Jurisdiction
HAMBLEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
1
Rooms
1
Bathrooms
24
Lot
0.68 ac
Current owner
From public records · entity-resolved
Joyce Jolley
Individual
Mailing address
PO BOX 1079, TALBOTT, TN 37877-1079
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2021
$99,000
Joyce Jolley
Pleasantview Properties INC
Warranty Deed
—
Aug 27, 2012
—
Pleasantview Properties INC
Bos,peter
Quit Claim Deed
related
—
Aug 25, 2008
—
Peter Bos
—
Trustees Deed
related
$231,000 · Community Nat'l Bank Lakeway A
May 3, 1995
$345,000
Peter Bos
Taylor,marvin S
Grant Deed
$103,500 · Taylor Marvin
May 1, 1995
$345,000
Peter Bos
Taylor,marvin S
Grant Deed
$250,000 · Newport Federal Savings
Mar 28, 1995
$345,000
Peter Bos
—
Grant Deed
related
—
Mar 21, 1995
—
Peter Bos
—
Deed Of Trust
related
—
May 22, 1990
$360,000
Marvin S Taylor
Unknown
Grant Deed
—
Apr 8, 1988
$260,000
Randall W Greene JR
Unknown,
Grant Deed
—
—
—
Peter Boss
—
Deed Of Trust
related
$231,000 · Community Nat'l Bank Lakeway A
—
—
Peter Bos
—
Deed Of Trust
related
$60,000 · Community Nat'l Bank Lakeway A
—
—
Peter Bos
—
Deed Of Trust
related
$100,000 · Citizens Federal Bank Fsb
—
—
Peter Bos
—
Deed Of Trust
related
$480,000 · Citizens Federal Bank Fsb
—
—
Peter Bos
—
Deed Of Trust
related
$38,000 · Citizens Federal Bank Fsb
—
—
Pleasantview Properties INC
—
Deed Of Trust
related
$190,000 · Newport Fed'l Bk
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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