Country Cottage in Town w/ Mountain Views

332 Fairview Ave, Mountain City, TN 37683

$119,000 After Repair Value -
$77,500 Asking Price -
$1,000 Cost of Repairs =
$40,500 Potential Profit

Property Details

Asking Price $77,500

After Repair Value $119,000

Costs of Repairs $1,000

Potential Profit $40,500

Living Area 1250 ft2

Property Type Single Family House

Bedrooms 2

Bathrooms 1

Half Bathrooms N/A

Parking 1

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $650

Yearly Expenses N/A

Property Taxes $200

Net Operating Income N/A

Cap Rate N/A

Property Description

1930s MOUNTAIN CITY TN BUNGALOW COTTAGE ON 1/4 ACRE LOT W/ MOUNTAIN VIEWS___________________________________ .60 ACRE FLAT LOT NEXT TO THE COTTAGE $ 27,500PURCHASE BOTH FOR $ 103,000____________________________________SHOWN BY APPOINTMENT ONLYCASH BUYERS ONLY – NO RENT TO OWNNO TRADES. NO OWNER FINANCING.IN TOWN ~ IN BEAUTIFUL MOUNTAIN CITY TN Cherokee National Forest & Blue Ridge Pkwy Area The mountain views here are just incredible, and it is part of what makes this town so very unique!Location ! Location !Everybody loves mountain city! One of the things I love the most is being in town where everything is super convenient, but not being right in the heart of town where there\'s traffic and noise all day. If you get too far outside of town, it’s a pain to run errands and the security isn’t the same. In town listings are hard to come by in locations that are desirable.Located on a dead end street off the main drag, up a hill, overlooking the town. Fairview Ave is about ¼ mile long and there are only 10 homes on the street. The cottage is located towards the end of the street and there is no street traffic. Garbage pickup twice a week right at your front door, and yard debris pick up once a month, and water and sewer right at the street and not have the worry and maintenance of a septic tank or well. Just 30 mins to Boone NC – About one hour to Johnson City or Bristol Motor Speedway. THIS IS BIKER AND ATV HEAVEN !Also close to Elizabethton, Abington and Damascus VA, and within easy reach of Asheville, Pigeon Forge, Gatlinburg, and Knoxville.Right next to the beginning of \" The Snake\" thru Shady Valley TN and only 30 mins to the Blue Ridge Pkwy in Blowing Rock or thru Newland NC. Also close to the tail of the dragon, the dragons back, Shately Springs and Laurel Springs, home of Freebornes and Stations Inn. 8000 acre ATV park called Doe Mountain and all ATVS and quads are allowed to ride on ALL paved roads in the whole county!JUST MINUTES FROM TO HUGE LAKES GORGEOUS WATAUGA & HOLSTON LAKES___________________________________________We have hiking, waterfalls, gorgeous creeks and four huge lakes in this area! We have tons of festivals and classic car and truck shows and the fishing and boating is great! We have a senior center and Olympic size pool and a huge park with creek running thru it with incredible fireworks on the 4thof July. We have 3 grocery stores, many restaurants, hardware and auto parts stores, 3 general stores, gas stations, auto service centers, hospital, several pharmacies and 3 banks, farmer co-ops and several flower and landscaping nurseries, and gift and antique stores as well.We have farmers markets, flea markets, antiques and auctions galore! Best of all, we have virtually no traffic in this region ! We have the lowest property taxes on the East Coast and No state income tax. The property taxes are about $ 250 a year. Utilities such as water, electric, gas, and wifi are very affordable here as well. My water never exceeds $ 35 a month, my electric runs about $ 50 a month._____________________________________________Built in 1930, this craftsman style cottage sits on a flat ¼ acre lot that is long and narrow. It is a quiet in town location that is not right in the middle of town, but on a dead end side street with no street traffic. There are partial mountain views on 3 sides of the property and the western sunset over the mountains is terrific. There are deer in the back yard often. The back side of the property is lined with large trees for nice shade in the summer with a hammock and fire pit. A small creek borders the back of the property downhill. The entire back side of the property has lots of wild plants and a few dogwoods and every spring, a wall of purple and white tall phlox comes to life. 911 services are very, very fast if you need them. Like 2 minutes, they are here !____________________________________________The house lot is 50 ft wide x 216 ft long or .25 Acre(The separate .60 acre lot is about 100 ft wide x 296 ft long. )Buyer of the cottage will have first option to buy the vacant lot.There are no deed restrictions and no required building codes. Hiring a contractor do any or all work is not required !The property is zoned R-3 but it has been changed to R-2 which means if you want to build another cottage on the house property, or put up a garage with an apartment, you can. You could also put in an rv pad on the back of the property that would have a great sunset and mountain views._____________________________________________I purchased this cottage 7 yrs ago and I have kept all of the original features. Most of the remodeling did was to the exterior. I preserved the small kitchen, the nice large bath with huge tub and shower and double sink vanity. I also preserved the original red oak hardwood floors in the living room and bedroom. The original wood lap siding on the exterior is also in tact and in very good condition.* The house has a new electrical panel and wiring and a new on demand hot water heater. The doors are new and most of the windows are new. The house has been replumbed with pex. The stove is lp gas as well as the wall heater. The house does not have hvac.Brand new Appliances are included : Top of the Line Frigidaire Gas Range, Samsung Frig w/ Ice in Door, Samsung Front Loading Washer & Dryer, New LP Gas Cermaic Heater, and New On Demand Hot Water Heater - very economical. * The house measures 24 x 28 or 675 sf enclosed.The covered back porch is 24 x 16 or 384 sf and was originally closed in as part of the house, and can be reinclosed if desired * There is a very nice concrete country front porch where there is always a breeze that is about 24 x 8 or 192 sf.* The large back wooden unconvered deck is about 23 x 30 or 690 sf.* The extra large metal shed has a standard door and a large side entry door. Shed is big enough for 4 motorcycles and is about 25 x 14 or 350 sf. ___________________________________________You can enclose the back covered deck and expand the back of the house and change the whole layout to create an open concept design and even add a second story. You could create a whole area above the ceiling as a loft or storage. House can also be designed to be wheelchair accessible. The interior needs some minor restoration - just some drywall finish work. The house has two small bedrooms, living room, kitchen, and bathroom. Because I moved the back wall in, I also moved the back door which opens into the back room or 2nd bedroom, which I presently use for a utility room. I have also done some landscaping to the lot. There are wild ferns, several big hostas, day lilies, two big butterfly bushes, some evergreens and peonies, yuccas, wild mint, and a pair of Bradford pear trees in the front yard.The property taxes on the house are about $ 200 a yr and the taxes on the vacant lot are about $ 100 a yr.

Repairs Needed

Some minor drywall, painting, and new flooring for one small room . Asking price includes all new appliances and large air compressor.


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