1987 Joe Stephens Rd, Morristown, TN, 37814
About This Home
This income-producing property generates a combined monthly rental income of $1,950, delivering immediate cash flow for investors from day one. Currently configured as a duplex with both apartments sharing electric and water meters, the setup supports efficient operation while maintaining strong rental performance. Offering both convenience and long-term flexibility, this property presents a solid opportunity for steady income and future upside. The versatile layout allows investors to continue operating the home as a multi-family rental or convert the property into a single-family residence with a private mother-in-law suite for added value. Additional features include a fenced backyard area and rear patio, enhancing tenant desirability and outdoor living space. With strong rental functionality and multiple possibilities for future use, this property presents an attractive opportunity for both seasoned investors and owner-occupants seeking supplemental income. Please contact the listing agent to schedule all showings.
Getting Around
Car-Dependent
Very Limited Transit
Not Bike FriendlySchools
Construction
Condition
- Year built: 1952
Materials
- Foundation: Slab
- Roof: Shingle
- Construction materials: Vinyl Siding
Type & Style
- Home type: MultiFamily
- Property subType: Duplex,Multi Family
Interior
Appliances
- Appliances included: Dishwasher,Dryer,Electric Oven,Electric Range,Refrigerator,Washer
- Laundry features: Common Area,Electric Dryer Hookup,Gas Dryer Hookup,Laundry Room
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Features
- Flooring: Combination,Luxury Vinyl,Wood
- Finished area below ground: 0
- Finished area above ground: 1,736
- Common walls with other units/homes: 1 Common Wall
Heating & Cooling
- Heating features: Central,Varies by Unit
- Cooling features: Ceiling Fan(s),Central Air,Wall Unit(s)
Property
Details
- Parcel number: 032
Features
- Levels: One
- Stories: 1
- Patio & porch: Covered,Patio
- Exterior features: Balcony,Rain Gutters
- Fencing: Back Yard
Lot
- Lot size: 0.87 Acres
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Lightning
- Cold Wave
- Earthquake
- Inland Flooding
- Landslide
- Strong Wind
- Tornado
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters Across Tennessee Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,289 | $15,468 |
| Home Insurance | $112 | $1,344 |
| Property Taxes | $305 | $3,660 |
| Electricity | $175 | $2,103 |
| Total | $1,881 | $22,572 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-14 | Price change | $255,000 |
| 2026-04-07 | Price change | $260,000 |
| 2025-10-29 | Price change | $268,000 |
| 2025-09-11 | Listed for sale | $275,000 |
For Sale by Agent
View on Zillow