Excellent investment opportunity to own a fully tenant-occupied 5-unit townhouse property in a desirable, high-demand location. Each spacious unit features 2 bedrooms and 1.5 bathrooms with a functional townhouse-style layout that offers comfortable living and strong tenant appeal. With all five units currently occupied, this turnkey property provides immediate rental income and has a strong rental history. Conveniently located near shopping, restaurants, schools, and other everyday amenities, the property is well positioned for continued rental demand and long-term investment potential. Partial owner financing is available, offering qualified buyers additional flexibility when structuring the purchase. Don't miss this opportunity to add a stable, income-producing multifamily property with an established tenant base to your investment portfolio. Financial information is available upon request.
Active
Price cut: $100K (9/21)
$799,900
2861 Michigan Avenue Rd NE, Cleveland, TN 37323
4beds
4baths
4,948sqft
Multi Family
Built in 1997
-- sqft lot
$-- Zestimate®
$162/sqft
$-- HOA
What's special
Functional townhouse-style layoutSpacious unit
- 44 days
- 167
- 16
Zillow last checked:
Listing updated:
Listed by:
Sommer Oder-Bailey 423-790-6592,
RE/MAX Experience 423-790-3086
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3510679
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Central
Cooling
- Central Air
Features
- Flooring: Laminate
Interior area
- Total structure area: 4,948
- Total interior livable area: 4,948 sqft
- Finished area above ground: 4,948
Property
Parking
- Parking features: Concrete
Features
- Levels: Two
- Stories: 2
Details
- Parcel number: 050L B 01700 000
- Zoning: Residentia
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
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
Community
- Subdivision: No
HOA
- Has HOA: No
Location
- Region: Cleveland
Financial & listing details
- Price per square foot: $162/sqft
- Tax assessed value: $154,400
- Annual tax amount: $1,393
- Date on market: 8/12/2026
- Inclusions: Appliances
- Total actual rent: 2000
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/21/2026 | Price change | $799,900-11.1%$162/sqft |
Source: | ||
| 9/3/2026 | Listed for rent | $1,095 |
Source: Zillow Rentals Report a problem | ||
| 8/12/2026 | Listed for sale | $899,900-10%$182/sqft |
Source: | ||
| 8/8/2026 | Listing removed | $999,900$202/sqft |
Source: | ||
| 4/7/2026 | Listed for sale | $999,900$202/sqft |
Source: | ||
| 4/1/2026 | Listing removed | $999,900$202/sqft |
Source: | ||
| 2/2/2026 | Listed for sale | $999,900+566.6%$202/sqft |
Source: | ||
| 11/4/2022 | Sold | $150,000-60%$30/sqft |
Source: | ||
| 10/20/2010 | Listing removed | $374,900-0.8%$76/sqft |
Source: Exit Realty-The Covenant Group #156503 Report a problem | ||
| 5/29/2010 | Price change | $377,900-0.5%$76/sqft |
Source: Exit Realty-The Covenant Group #156503 Report a problem | ||
| 2/20/2010 | Listed for sale | $379,900$77/sqft |
Source: Exit Realty-The Covenant Group #156503 Report a problem | ||
Public tax history
| Year | Property taxes | Tax 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.Climate risks
Neighborhood: 37323
Nearby schools
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.






