Investment opportunity on approximately 2 acres in a quiet rural setting near the Tennessee/Alabama line. This 3-bedroom, 1.5-bath home offers over 1,500 square feet, a large walk-in laundry room, 2-car garage, and additional storage space.
Mt. Nebo Road | Iron City, Tennessee
🔥 DEAL OVERVIEW
This is a unique investment opportunity structured for serious investors seeking a strong equity position with partial seller financing.
Purchase Price: $175,000
Buyer Investment (Approx. 80%): $140,000
Seller Financing (Approx. 20%): $35,000. Seller is willing to finance a portion of the purchase, allowing buyers to maintain liquidity while still securing the asset.
🏡 PROPERTY DETAILS
3 Bedrooms
1.5 Bathrooms
1,500+ Sq Ft
2 Acres
2-Car Garage
Large Laundry Room
Additional Storage
Potential to convert into 4th or 5th bedroom to increase value.
💰 FINANCING STRUCTURE
Down Payment: ~80%
Seller Carry: ~20–25%
Example Loan: $35,000
Sample Terms (Negotiable):
Interest Rate: 7.5%
Term: 5 Years
$1000 a month Payment: month is May 1st 2026 .
Balloon Payment at Maturity
📊 INVESTMENT STRATEGY OPTIONS
1. Fix & Flip
Renovate and resell for profit
Add bedrooms to increase ARV2.Buy & Hold
Long-term rental income
Potential appreciation
3. BRRRR Strategy
Rehab → Rent → Refinance → Repeat
Lease
⚠ PROPERTY CONDITION
Sold AS-IS
Previously winterized
Updates and repairs needed
Buyer to perform due diligence and inspections
💡 WHY THIS DEAL MAKES SENSE
Strong equity position upfront
Reduced financing risk for seller
Flexible terms for buyer
Faster closing potential
Opportunity to generate passive income (seller side)
📍 LOCATION BENEFITS
Near Tennessee / Alabama line Lower county taxes
Quiet rural setting
📞 CONTACT INFORMATION
Managing Principal Broker / Owner
Active
Price cut: $99 (3/18)
$174,900
538 Mount Nebo Rd, Iron City, TN 38463
3beds
2,402sqft
Est.:
Single Family Residence, Residential
Built in 1979
2 Acres Lot
$-- Zestimate®
$73/sqft
$-- HOA
What's special
Additional storage spaceLarge walk-in laundry room
- 129 days |
- 2,607 |
- 135 |
Zillow last checked: 7 hours ago
Listing updated: March 19, 2026 at 02:40pm
Listing Provided by:
Shavonda M. Polk 615-933-5157,
Polk Property Real Estate 931-292-0813
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3038974
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bedrooms: 3
Bedroom 1
- Features: Walk-In Closet(s)
- Level: Walk-In Closet(s)
- Area: 176 Square Feet
- Dimensions: 16x11
Bedroom 2
- Features: Bath
- Level: Bath
- Area: 216 Square Feet
- Dimensions: 12x18
Bedroom 3
- Features: Walk-In Closet(s)
- Level: Walk-In Closet(s)
- Area: 120 Square Feet
- Dimensions: 12x10
Primary bathroom
- Features: Primary Bedroom
- Level: Primary Bedroom
Dining room
- Features: Combination
- Level: Combination
- Area: 210 Square Feet
- Dimensions: 15x14
Kitchen
- Area: 210 Square Feet
- Dimensions: 15x14
Living room
- Features: Separate
- Level: Separate
- Area: 357 Square Feet
- Dimensions: 21x17
Other
- Area: 120 Square Feet
- Dimensions: 10x12
Heating
- Central, Dual, Electric, Natural Gas, Propane, Wall Furnace
Cooling
- Ceiling Fan(s), Central Air, Dual, Electric, Gas, Wall/Window Unit(s)
Appliances
- Included: Oven, Cooktop
- Laundry: Washer Hookup
Features
- Bookcases, Built-in Features, Ceiling Fan(s), Walk-In Closet(s), High Speed Internet
- Flooring: Carpet, Wood, Laminate
- Basement: Crawl Space,Other
Interior area
- Total structure area: 2,402
- Total interior livable area: 2,402 sqft
- Finished area above ground: 1,552
- Finished area below ground: 850
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Garage Faces Rear
- Attached garage spaces: 2
Features
- Levels: Two
- Stories: 1
- Fencing: Partial
- Has view: Yes
- View description: City
Lot
- Size: 2 Acres
- Features: Cleared, Level
- Topography: Cleared,Level
Details
- Parcel number: 156 06202 000
- Special conditions: Standard
- Other equipment: Satellite Dish
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence, Residential
Materials
- Vinyl Siding
- Roof: Shingle
Condition
- New construction: No
- Year built: 1979
Utilities & green energy
- Sewer: Septic Tank
- Water: Private
- Utilities for property: Electricity Available, Natural Gas Available, Water Available, Cable Connected
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
- Subdivision: Country
HOA
- Has HOA: No
Location
- Region: Iron City
Financial & listing details
- Price per square foot: $73/sqft
- Tax assessed value: $164,100
- Annual tax amount: $825
- Date on market: 11/12/2025
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/18/2026 | Price change | $174,900-0.1%$73/sqft |
Source:  RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 3/16/2026 | Price change | $174,9990%$73/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 3/12/2026 | Price change | $175,000-2.7%$73/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 3/6/2026 | Price change | $179,8990%$75/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 3/3/2026 | Price change | $179,900-1.2%$75/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 2/26/2026 | Price change | $182,000-0.3%$76/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 2/22/2026 | Price change | $182,500-0.8%$76/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 2/20/2026 | Price change | $184,000-0.5%$77/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 2/15/2026 | Price change | $184,900-0.1%$77/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 2/5/2026 | Price change | $185,000-1.3%$77/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 1/23/2026 | Price change | $187,500-4.1%$78/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 1/17/2026 | Listed for sale | $195,500+2.9%$81/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 1/9/2026 | Listing removed | $189,899$79/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 1/1/2026 | Price change | $189,8990%$79/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 12/27/2025 | Price change | $189,900-1.4%$79/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 12/22/2025 | Price change | $192,500-1.3%$80/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 12/15/2025 | Price change | $195,000-2%$81/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 12/12/2025 | Price change | $199,000-0.5%$83/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 12/3/2025 | Price change | $199,900-2.7%$83/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 11/28/2025 | Price change | $205,500-0.2%$86/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 11/27/2025 | Listed for sale | $205,900+71.6%$86/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 11/26/2025 | Sold | $120,000-42.3%$50/sqft |
Source: Public Record Report a problem | ||
| 11/22/2025 | Price change | $208,000-2.3%$87/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 11/20/2025 | Price change | $213,000-0.9%$89/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 11/13/2025 | Price change | $215,000-4.4%$90/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 11/3/2025 | Pending sale | $225,000+157.1%$94/sqft |
Source: RealTracs MLS as distributed by MLS GRID #3038974 Report a problem | ||
| 2/8/2019 | Sold | $87,500+5.4%$36/sqft |
Source: RealTracs MLS as distributed by MLS GRID #1940832 Report a problem | ||
| 5/23/2007 | Sold | $83,000$35/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $825 | $41,025 |
| 2024 | $825 | $41,025 |
| 2023 | $825 | $41,025 |
| 2022 | $825 +35.3% | $41,025 +99.2% |
| 2021 | $610 | $20,600 |
| 2020 | $610 | $20,600 |
| 2019 | $610 +17.7% | $20,600 +17.7% |
| 2018 | $518 0% | $17,500 |
| 2017 | $518 | $17,500 |
| 2016 | $518 +8.1% | $17,500 |
| 2015 | $479 -0.7% | $17,500 -0.7% |
| 2014 | $483 | $17,625 |
| 2013 | $483 | $17,625 |
| 2011 | $483 | $17,625 |
| 2010 | $483 | $17,625 |
| 2009 | -- | $17,625 +30.6% |
| 2008 | $408 | $13,500 |
| 2007 | $408 | $13,500 |
| 2006 | $408 +9.8% | $13,500 |
| 2005 | $371 | $13,500 |
| 2004 | $371 +5.7% | $13,500 +0.9% |
| 2003 | $351 | $13,375 0% |
| 2001 | -- | $13,380 -75% |
| 2000 | -- | $53,521 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$915/mo
Principal & interest
$838
Property taxes
$77
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Climate risks
Neighborhood: 38463
Nearby schools
GreatSchools rating
- 6/10South Lawrence Elementary SchoolGrades: PK-8Distance: 4.6 mi
- 5/10Loretto High SchoolGrades: 9-12Distance: 5.1 mi
- 5/10Leoma Elementary SchoolGrades: PK-8Distance: 13 mi
Schools provided by the listing agent
- Elementary: Leoma Elementary
- Middle: Leoma Elementary
- High: Loretto High School
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.
Local experts in 38463
- Tennessee
- Lawrence County
- Iron City
- 38463
- 538 Mount Nebo Rd
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