Exceptional opportunity to own a well-positioned six-unit apartment building in the growing community of Philadelphia, Tennessee. Situated on a quiet stretch of Patty Gap Road, this property offers strong income potential with the stability of multiple rental streams under one roof.
The building features six well-designed residential units, each offering comfortable living spaces, functional layouts, and ample natural light. Tenants enjoy a peaceful setting with convenient access to nearby schools, shopping, and major commuting routes.
Property highlights include:
Six income-producing units
On-site parking, low-maintenance exterior,
desirable rural setting with easy access to nearby amenities and strong rental demand in the area
Whether you're expanding your portfolio or seeking a solid multi-family investment, 221 Patty Gap Road delivers dependable cash flow potential in a steadily developing market. This is an excellent opportunity to secure a multi-unit property in a quiet East Tennessee location with long-term upside. Don't miss this amazing investment opportunity.
For sale
$387,000
221 Pattie Gap Rd, Philadelphia, TN 37846
9beds
6baths
--sqft
Est.:
Multi Family
Built in 1993
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Desirable rural settingFunctional layoutsSix well-designed residential unitsLow-maintenance exteriorAmple natural lightOn-site parkingComfortable living spaces
- 17 days |
- 421 |
- 32 |
Zillow last checked: 7 hours ago
Listing updated: March 02, 2026 at 04:46pm
Listed by:
Mike Yarbrough 702-985-5566,
Asset Realty Management, Inc. 865-247-0027,
Jessica Hall 865-335-6221,
Asset Realty Management, Inc.
Source: East Tennessee Realtors,MLS#: 1330884
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
- Bathrooms: 6
Heating
- Central, Electric
Cooling
- Central Air
Appliances
- Included: Range, Refrigerator
Features
- Flooring: Laminate, Vinyl
Property
Parking
- Parking features: Off Street
Lot
- Size: 1.02 Acres
- Dimensions: 250.82 x 177.65 IRR
Details
- Parcel number: 114 06103 000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Block, Frame
Condition
- Year built: 1993
Community & HOA
Community
- Security: Smoke Detector(s)
Location
- Region: Philadelphia
Financial & listing details
- Tax assessed value: $32,200
- Annual tax amount: $121
- Date on market: 2/28/2026
- Listing terms: Alternative,New Loan,Cash,Conventional
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 2/28/2026 | Listed for sale | $387,000+58% |
Source: | ||
| 10/16/2025 | Listing removed | $595 |
Source: Zillow Rentals Report a problem | ||
| 9/16/2025 | Listed for rent | $595-14.4% |
Source: Zillow Rentals Report a problem | ||
| 9/9/2025 | Listing removed | $695 |
Source: Zillow Rentals Report a problem | ||
| 9/6/2025 | Listed for rent | $695-45.5% |
Source: Zillow Rentals Report a problem | ||
| 6/4/2025 | Listing removed | $1,275 |
Source: Zillow Rentals Report a problem | ||
| 5/29/2025 | Listed for rent | $1,275+114.3% |
Source: Zillow Rentals Report a problem | ||
| 2/29/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/28/2024 | Listed for rent | $595-14.4% |
Source: Zillow Rentals Report a problem | ||
| 2/7/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/6/2024 | Price change | $695-13.1% |
Source: Zillow Rentals Report a problem | ||
| 1/21/2024 | Price change | $800-5.3% |
Source: Zillow Rentals Report a problem | ||
| 12/15/2023 | Price change | $845-5.6% |
Source: Zillow Rentals Report a problem | ||
| 11/10/2023 | Listed for rent | $895 |
Source: Zillow Rentals Report a problem | ||
| 10/31/2012 | Listing removed | $244,900 |
Source: Realty Executives Associates #809245 Report a problem | ||
| 7/17/2012 | Listed for sale | $244,900+8.8% |
Source: Realty Executives Associates #809245 Report a problem | ||
| 6/2/2012 | Listing removed | $225,000 |
Source: Realty Executives Associates #714228 Report a problem | ||
| 5/14/2010 | Price change | $225,000-1.7% |
Source: Realty Executives Associates #714228 Report a problem | ||
| 8/2/2009 | Listed for sale | $229,000 |
Source: Realty Executives Associates #676106 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $121 +25.7% | $8,050 +101.3% |
| 2024 | $96 | $4,000 |
| 2023 | $96 +6% | $4,000 +6% |
| 2022 | $91 -2.8% | $3,775 |
| 2021 | $93 0% | $3,775 |
| 2020 | $93 +2.9% | $3,775 +11.9% |
| 2019 | $91 +4.3% | $3,375 |
| 2018 | $87 -0.1% | $3,375 |
| 2017 | $87 | $3,375 |
| 2016 | $87 | $3,375 |
| 2015 | $87 | $3,375 -24.2% |
| 2013 | $87 | $4,450 |
| 2011 | -- | $4,450 |
| 2010 | $97 | $4,450 -7.8% |
| 2009 | -- | $4,825 +12.9% |
| 2008 | $112 | $4,275 |
| 2007 | $112 -92% | $4,275 -92.8% |
| 2006 | $1,412 -18.1% | $59,320 |
| 2004 | $1,723 +8% | $59,320 +8% |
| 2003 | $1,595 | $54,920 +5.5% |
| 2001 | -- | $52,070 -60% |
| 2000 | -- | $130,174 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$2,173/mo
Principal & interest
$1996
Property taxes
$177
More affordability tools
Climate risks
Neighborhood: 37846
Nearby schools
GreatSchools rating
- 8/10Midway Elementary SchoolGrades: PK-5Distance: 5 mi
- 7/10Midway Middle SchoolGrades: 6-8Distance: 5.1 mi
- 5/10Midway High SchoolGrades: 9-12Distance: 5 mi
Local experts in 37846
- Tennessee
- Roane County
- Philadelphia
- 37846
- 221 Pattie Gap Rd





