2861 Michigan Avenue Rd NE, Cleveland, TN, 37323
About This Home
Turnkey 5-Unit Townhouse Investment - Great Location + Partial Owner Financing Available Excellent opportunity to own a fully tenant-occupied 5-unit apartment building in a highly desirable, high-demand area. Each unit is a well-maintained 2-bedroom, 1.5-bathroom townhouse, offering spacious layouts ideal for attracting and retaining quality tenants. This income-producing property is fully rented, providing immediate cash flow and low vacancy risk. Located near major amenities, shopping, and schools, it's perfectly positioned for long-term growth and stability. Partial owner financing available* making this an ideal choice for investors looking to expand their portfolio with flexible terms. Property Highlights: - 5 Spacious Townhouse Units - Each Unit: 2 Bedrooms, 1.5 Bathrooms - Fully Tenant Occupied - Strong Rental History - Prime Location Near Amenities, Shopping, Resturaunts & Schools - Partial Owner Financing Available Don't miss this rare chance to acquire a stable, income-generating asset with built-in tenant base and financing flexibility. Financials available upon request.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Functional
- Year built: 1997
Materials
- Foundation: Block
- Roof: Shingle
- Construction materials: Brick Veneer,Vinyl Siding
Type & Style
- Home type: Townhouse
- Architectural style: Other
- Property subType: Quadruplex,Multi Family,Townhouse
Interior
Appliances
- Appliances included: Dishwasher,Electric Range,Refrigerator
- Laundry features: Laundry Closet
Basement
- Basement: Crawl Space
Bedrooms & Bathrooms
- Full bathrooms: 2
- 1/2 bathrooms: 1
Features
- Open Floorplan
- Flooring: Laminate
- Finished area below ground: 0
- Finished area above ground: 4,948
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total structure area: 4,948
- Total interior livable area: 4,948 sqft
Property
Details
- Parcel number: 050l B 017.00
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Patio & porch: Deck
- Exterior features: None
- Fencing: None
Lot
- Features: Cleared
Parking
- Parking features: Concrete
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
- Tornado
- Cold Wave
- Earthquake
- Hail
- Strong Wind
- 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 | $5,056 | $60,672 |
| Home Insurance | $481 | $5,772 |
| Property Taxes | $809 | $9,708 |
| Electricity | $402 | $4,824 |
| Total | $6,748 | $80,976 |
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)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-04-07 | Listed for sale | $999,900 |
| 2026-04-01 | Listing removed | $999,900 |
| 2026-02-02 | Listed for sale | $999,900 |
| 2025-08-31 | Listing removed | $999,900 |
| 2025-07-29 | Price change | $999,900 |
| 2025-07-21 | Price change | $1,049,900 |
| 2025-05-02 | Listed for sale | $1,100,000 |
| 2022-11-04 | Sold | $150,000 |
| 2010-10-20 | Listing removed | $374,900 |
| 2010-05-29 | Price change | $377,900 |
| 2010-02-20 | Listed for sale | $379,900 |
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