See other homes in:
Primary listing photo
Listing photo 2
Listing photo 3
Listing photo 4
Listing photo 5

197 Wedgewood Ln, Spring City, TN, 37381

6beds
2baths
4,520sqft
$425,000
$94price/sqft
$3,161/moest. monthly cost
$126,440/yrincome needed

About This Home

Unique Investment Opportunity in the Heart of Spring City! Discover the potential of this versatile property featuring 3 separate units on 1.5 private acres, just minutes from the heart of Spring City! Whether you're looking for rental income, a multi-generational family compound, or both, this property is full of possibilities. Unit 1 offers 3,000 sq. ft. of living space, showcasing an open-concept main floor with new flooring, new shower, new staircase, new windows, and a new back door. The home is now equipped with central HVAC, adding year-round comfort. Upstairs you'll find 2 spacious bedrooms and a full bath. The downstairs level includes a bedroom, a bathroom, and two additional rooms perfect for game rooms, offices, or storage. The lower level is ready for your finishing touches — with some materials already on-site — and opens to a fenced backyard. Unit 2, an attached efficiency or mother-in-law suite with its own separate address, features a full bath with new vanity, toilet, and windows, providing a private, self-contained living space ideal for guests or additional rental income. Unit 3 is a detached home with two bedrooms, one full bath, an open-concept living room, kitchen, and dining area, plus a full walkout basement. Updates include new windows, giving it a fresh and inviting feel. Tucked away yet conveniently located, these homes offer privacy, flexibility, and potential. Perfect as income-producing rentals, a family retreat, or a combination of both — this property is truly one of a kind! Don't miss your chance to make this unique property yours. Call today to schedule your showing!

Getting Around

1
WalkingCar-Dependent
0
TransitVery Limited Transit
7
BikeSomewhat Bikeable

Schools

8/10
7/10
4/10
Rhea County High SchoolGrades 9-125.9 mi

Construction

Condition

  • Year built: 1982

Materials

  • Roof: Metal
  • Construction materials: Frame,Other

Type & Style

  • Home type: MultiFamily
  • Property subType: Multi Family

Interior

Appliances

  • Laundry features: Washer Hookup,Electric Dryer Hookup

Bedrooms & Bathrooms

  • Bedrooms: 6
  • Bathrooms: 2

Features

  • Flooring: Carpet,Laminate,Tile

Heating & Cooling

  • Heating features: Central,Electric,Natural Gas
  • Cooling features: Central Air

Interior Area

  • Total structure area: 4,520
  • Total interior livable area: 4,520 sqft

Property

Details

  • Parcel number: 042 00910 000
  • Attached to another structure: Yes
  • Special condition: Standard

Lot

  • Lot size: 9,384 sqft
  • Lot size dimensions: 100 x 207.8 and 300 x 188

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

  • Cold Wave
    Cold WaveRelatively High
  • Lightning
    LightningRelatively High
  • Strong Wind
    Strong WindRelatively High
  • Inland Flooding
    Inland FloodingModerate
  • Landslide
    LandslideModerate
  • Tornado
    TornadoModerate
  • Winter Weather
    Winter WeatherModerate

How This Home’s Risks Compare

Cold Wave
Lightning
Strong Wind
Inland Flooding
Landslide
Tornado
Winter Weather

FEMA Declared Disasters Across Tennessee Counties

Flood
Severe Storm
Straight Line Winds
Tornado
Winter Storm

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

MonthlyAnnual
Mortgage $2,149$25,788
Home Insurance $177$2,124
Property Taxes $468$5,616
Electricity $367$4,407
Total$3,161$37,932

Income You'd Need if You Spent...

35% on housing$108,377/yr
40% on housing$94,830/yr
45% on housing$84,293/yr

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.

Insurance Growth Rate5-year average: 7.7%
7.7%
0%30.0%
Electricity Growth Rate10-year average: 4.5%
4.5%
0%15.0%
Property Taxes Growth Rate2-year average: 5.1%
5.1%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$94This listing

vs Other Active Listings

Avg $/sqft

ZIP 37381$156
Rhea County$159

vs Homes Sold Last Month

Median $/sqft

ZIP 37381$274
Rhea County$176

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)

Price History

DateEventPrice
2026-04-23Price change$425,000
2025-08-12Price change$445,000
2025-07-09Listed for sale$475,000
1995-08-31Sold$100,000

For Sale by Agent

AgentJennifer Scates
BrokerageWallace-Jennifer Scates Group

Similar Homes