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For sale
    • $999,900

    2861 Michigan Avenue Rd NE, Cleveland, TN 37323

    --beds
    0baths
    4,948sqft
    : 
    Duplex, Multi Family, Townhouse
    Built in 1997
    -- sqft lot
    $945,300 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.
    28 days
    |
    232
    |
    7
    |

    Zillow last checked: 8 hours ago

    Listing updated: February 02, 2026 at 08:21am

    Listed by:

    Sommer Oder 423-790-6592,

    RE/MAX Experience 423-790-3086

    Source: RCAR,MLS#: 20260523MLS Logo

    Tour with a local agent

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bathrooms: 0
    • Full bathrooms: 2
    • 1/2 bathrooms: 1
    Heating
    • Central
    Cooling
    • Central Air
    Appliances
    • Included: Dishwasher, Electric Range, Refrigerator
    • Laundry: Laundry Closet
    Features
    • Open Floorplan
    • Flooring: Laminate
    • Basement: Crawl Space
    Interior area
    • Total structure area: 4,948
    • Total interior livable area: 4,948 sqft
    • Finished area above ground: 4,948
    • Finished area below ground: 0

    Property

    Parking
    • Parking features: Concrete
    Features
    • Levels: Two
    • Stories: 2
    • Patio & porch: Deck
    • Exterior features: None
    • Fencing: None
    Lot
    • Features: Cleared
    Details
    • Additional parcels included: 050L B 017.00, 050L B 014.00, 050L B 015.00, 050L B 016.00, 050L B 017.00
    • Parcel number: 050l B 013.00
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: Townhouse
    • Architectural style: Other
    • Property subtype: Duplex, Multi Family, Townhouse
    Materials
    • Brick Veneer, Vinyl Siding
    • Foundation: Block
    • Roof: Shingle
    Condition
    • Functional
    • New construction: No
    • Year built: 1997

    Utilities & green energy

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

    Community & HOA

    Community
    • Features: None
    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: 2/2/2026
    • Listing terms: Cash,Conventional,Owner May Carry
    • Tenant pays: All Utilities

    Estimated market value

    $945,300

    $898,000 - $993,000

    $1,310/mo

    Price history

    Price history
    DateEventPrice
    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: RCAR #20228112 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

    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

    BuyAbility℠ payment

    Est. payment
    $5,049/mo
    Principal & interest
    $4691
    Property taxes
    $358

      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
      • Middle: Cleveland
      • High: Cleveland

      Source: RCAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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