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Active
  • $999,900

    2861 Michigan Avenue Rd NE, Cleveland, TN 37323

    --beds
    --baths
    4,948sqft
    : 
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    Multi Family
    Built in 1997
    -- sqft lot
    $-- Zestimate®
    $202/sqft
    $-- HOA

    What's special

    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.
    80 days
    |
    143
    |
    12
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Sommer Oder-Bailey 423-790-3086,

    RE/MAX Experience 423-790-3086

    Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3214706MLS Logo

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      Facts & features

      Interior

      Heating
      • Central
      Cooling
      • Central Air
      Features
      • Flooring: Laminate
      Interior area
      • Total structure area: 4,948
      • Total interior livable area: 4,948 sqft

      Property

      Parking
      • Parking features: Concrete
      Features
      • Levels: Three Or More
      • Stories: 2
      Details
      • Parcel number: 050L B 01700 000
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Multi Family
      Materials
      • Vinyl Siding, Other
      • Roof: Shingle
      Condition
      • New construction: No
      • Year built: 1997

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Water Available

      Community & HOA

      HOA
      • Has HOA: No
      Location
      • Region: Cleveland

      Financial & listing details

      • Price per square foot: $202/sqft
      • Tax assessed value: $154,400
      • Annual tax amount: $1,327
      • Date on market: 4/7/2026

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        4/7/2026Listed for sale$999,900$202/sqft
        Source: RCAR #20261783 Report a problem
        4/1/2026Listing removed$999,900$202/sqft
        Source: RCAR #20260523 Report a problem
        2/2/2026Listed for sale$999,900$202/sqft
        Source: RCAR #20260523 Report a problem
        8/31/2025Listing removed$999,900$202/sqft
        Source: RCAR #20251946 Report a problem
        7/29/2025Price change$999,900-4.8%$202/sqft
        Source: RCAR #20251946 Report a problem
        7/21/2025Price change$1,049,900-4.6%$212/sqft
        Source: RCAR #20251946 Report a problem
        5/2/2025Listed for sale$1,100,000+633.3%$222/sqft
        Source: RCAR #20251946 Report a problem
        11/4/2022Sold$150,000-60%$30/sqft
        Source: RealTracs MLS as distributed by MLS GRID #3187402 Report a problem
        10/20/2010Listing removed$374,900-0.8%$76/sqft
        Source: Exit Realty-The Covenant Group #156503 Report a problem
        5/29/2010Price change$377,900-0.5%$76/sqft
        Source: Exit Realty-The Covenant Group #156503 Report a problem
        2/20/2010Listed for sale$379,900$77/sqft
        Source: Exit Realty-The Covenant Group #156503 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025-- $61,760 +57.9%
        2024$563 $39,120
        2023$563 +26.2%$39,120 +26.2%
        2022$446 -54.4%$31,000
        2021$977 -7.7%$31,000 +12.5%
        2019$1,059 +2%$27,560
        2018$1,039 0%--
        2017$1,039 +13.8%--
        2016$913 --
        2015$913 --
        2014$913 --
        2013-- --

        Find assessor info on the county website

        Monthly payment

        Est. payment

          Payment breakdown

          Explore the cost of this home by adjusting the details. Changes won't be saved.
          All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
          HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
          Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
          See how much you could borrow to make a competitive offer.

          Climate risks

          Neighborhood: 37323

          Getting around

          12 / 100
          Car-Dependent
          16 / 100
          Somewhat Bikeable

          Nearby schools

          GreatSchools rating
          Schools provided by the listing agent
          • Elementary: Mayfield Elementary
          • Middle: Cleveland Middle
          • High: Cleveland High

          Source: RealTracs MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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