Fully Leased Four-Unit Multifamily Property in Thorn Hill, Tennessee — $350,000

Property Overview

This four-unit multifamily property at 2361 State Highway 131 in Thorn Hill, Tennessee, is fully leased, with all four units currently occupied. The property has a shared on-site laundry facility and an established tenant base, making it a rental property with existing leases for a buyer to review.

The building dates to 1960 and has reported building area of 912 square feet. The exterior is metal siding over a frame structure. Inside, the listed features include laminate flooring, electric space heaters, and window-unit cooling. A detached parking area is also listed.

Tenants are responsible for their electricity, while the landlord pays for water. A washer and dryer, range, and refrigerator are included. Financial information is available upon request.

Rental Property Features

Four Occupied Units

All four units are reported occupied, with leases in place. Buyers should review the current leases, rent amounts, payment history, deposits, and operating expenses as part of their evaluation. The income and expense records can help establish the property’s current operating picture.

Shared Laundry

A shared on-site laundry facility serves the residents. The included appliances are listed as a washer, dryer, range, and refrigerator.

Interior and Mechanical Features

• Laminate flooring
• Electric space-heater heating
• Window-unit cooling
• Washer and dryer included
• Range and refrigerator included

Structure and Parking

• Four-unit multifamily property
• Built in 1960
• Metal siding and frame construction
• Detached parking
• Parcel number: 075 058.00

Living in the Thorn Hill Area

Community and County

Thorn Hill is in Hancock County in East Tennessee. The county is largely rural, with Sneedville serving as its county seat. The U.S. Census Bureau estimated Hancock County’s population at 7,075 in July 2025. Buyers considering the area should expect a rural community setting, with many services and public facilities concentrated in and around Sneedville.

Schools and Education

Hancock County operates public schools serving elementary, middle, and high school grades. Schools in the area include Hancock Middle School and Hancock High School. Washburn School, in nearby Washburn, is another school in the broader area. These are examples of nearby educational options, not confirmation of the school assignment for this address. Buyers should check current attendance boundaries and transportation arrangements with the school district.

Healthcare

Hancock County Hospital is located at 1519 Main Street in Sneedville. The facility provides emergency department services as well as inpatient and outpatient care, diagnostic imaging, laboratory services, rehabilitation, and rural health clinic services. Buyers should confirm current services and availability directly with the facility when planning healthcare arrangements.

Shopping and Everyday Services

Sneedville is the county’s main local service center, with grocery shopping, pharmacies, postal services, banking, fuel, and everyday businesses serving the surrounding communities. For larger retail selections and additional services, residents may need to travel outside Hancock County. Buyers should check current business hours and locations before relying on a particular service.

Transportation and Regional Access

State Highway 131 provides road access along the property’s address. This is a rural part of East Tennessee, where a personal vehicle is generally important for reaching shopping, healthcare, schools, and employment. Public transportation options and service frequency should be checked locally. No specific commute time is stated here.

Parks and Outdoor Recreation

Hancock County and the surrounding East Tennessee region are known for a rural landscape and outdoor recreation opportunities. Buyers interested in hiking, fishing, boating, or other outdoor activities should check access rules, public facilities, and travel distances for the particular destinations they plan to use. No private recreational facilities or direct water access are represented as features of this property.

Safety and Public Information

Countywide crime reports do not establish conditions at an individual property or on a particular road. Buyers who want to assess local public-safety information should review the latest available Hancock County law-enforcement reports and discuss specific questions with local authorities. No property-level safety rating is available for this listing.

Utilities and Connectivity

For this rental property, tenants are responsible for electricity and the landlord pays for water. The exact utility providers, account arrangements, wastewater system, trash service, and internet options should be confirmed for the parcel. Area-level provider coverage does not guarantee service availability or connection at the building.

Local Housing Market Context

Countywide existing-home sales provide some context for the local housing market, although single-family home sales are not direct comparisons for a four-unit rental property.

These figures describe existing-home sales across Hancock County, not multifamily investment sales or rental-property valuations. The small number of annual transactions also means the figures should be treated as general context rather than a measure of this property’s value.

Development and Planning

No specific major development project or planning change has been established here as directly relevant to this property. Buyers should contact Hancock County offices to confirm current zoning, permitted uses, parcel boundaries, building records, and any proposed changes that may affect the site.

Buyer Due Diligence

Before making an offer, prospective buyers should review the property’s operating records and confirm the details that affect its rental use. In particular, request and review:

• Current leases for all four units, including rent, terms, deposits, and renewal dates.
• Rental income records, payment history, and a breakdown of operating expenses.
• Confirmation of the acreage and boundaries included in the sale.
• Verification of the building’s total area and the layout and bathroom count of each unit.
• Utility bills and confirmation of how water and electricity are metered and paid.
• Information about the wastewater system, water service, and internet availability.
• Confirmation of permitted multifamily use, building records, and any required inspections.

Financing terms listed for the property include VA, FHA, cash, and conventional financing. Buyers should confirm eligibility and property requirements with their lender, particularly given the property’s multifamily use and configuration.

Property Summary