This property is sold

I purchased this parcel from the guy that created the lot.  It used to be part of a larger parcel that is mostly pasture land.  He decided to break this lot  (this is the westward one of two lots) because they were across the road from the pasture, and they weren't flat like the pasture.  He told me that this parcel has never been for sale on the open market.  I found the guy, and had to almost twist his arm to sell me the parcels.

It's a little less than an acre (0.9 acre) on Teague Road, a short distance from Powells Crossroad, on the north end of Marion County, Tennessee.  Technically, the address is in Whitwell, a highly desirable community, that usually has few, if any, properties for sale.

This parcel isn't perfectly flat, but the slope is gentle and shouldn't cause any challenges for building your dream home.  The seller told me he made sure that the parcels would "perc" before he subdivided the parcel, so there shouldn't be any problem putting in your septic tank, and the neighbor across the street was able to install a septic tank and drill a well, so you should be able to figure it out.  

I've got my "Walking Tour" below, followed by some maps, photos and more details about the property.  Then, I'll discuss the price and purchase terms. 

To start, here is my "Walking Tour" of the property (recorded in 2020)...

Here are some photos I took a last Winter.  With the leaves off the trees, its easier to see how level the land is, and how easy it will be for you to build your home.    I used my iPhone and an app (LandGlide) to identify the corners of the parcel.  I would say they are probably within 6-10 feet of where the corner should be.  Click on any of the images to see a larger view.

Here are a few more recent photos along the newly installed road - taken in the Summer...

You might like to find the property by typing the GPS coordinates into their smart phone or the car's GPS unit, and then allowing the moving map to direct you to the property.    Type in the following:    35.198271, -85.484245   (NOTE:  the comma and the minus sign before the second coordinate are important in most GPS units.  I typed these into GoogleMaps.com and here's what I got....

Here is a screen shot from the county website that show the GPS coordinates for the Front Left (Southwest) corner of the parcel:  34.198355 -85.484542     Click on the images to see a larger view.

Here's two screenshots (one with the Street Map view, and the other from the Aerial Photography view) from the county records showing the owner (that's me), along with the parcel number and the acreage; 0.9 acres.

Here is a view with the FEMA DFIRM Flood Map overlay, showing there is an elevated flood risk zone across Teague Road (the pasture) but not our parcel nor Teague Road.

Here is a map showing the topography of the parcel and the surrounding area, which is gently sloped towards Teague Road.

 Next, I am going to show you some screen shots that I use when I am researching a property, and I want you to have access to the same info - in three easy steps:

1. Go to TN Real Estate Assessment Data which can be found at ​​https://www.assessment.cot.tn.gov/RE_Assessment/  
2. ​Either click on the name of the county, or select it from the drop down list below the map.  In this case, we are selecting "Marion" county.
3. Input the following "Owner Name":    Stewart Laurence      
4. You should see the search results, including a few properties that I own in Marion County.  Find the line that shows  051 006.05  as part of the parcel number, and click on it.
5. To see the details on your parcel, click the blue "Select" button to see the tax assessor information on the parcel.   - OR - click on the blue "View GIS" button to see the GIS satellite and map views, and use the measuring tools.
6.  From here, you can scroll in and out, use the buttons at the upper left to see the aerial photography image, the street map, and the FEMA Flood Map.

To save you some trouble, I'll include a couple of the maps in full size below these small screenshots - click on the image to make it bigger.

OK - that's enough with the photos and maps.  Let's get to the details about the property (all info extracted from the Survey of Linder Subdivision Phase 2.

• The parcel is 0.9 acres in size according to the county's GIS website.
• The property is zoned "R-1" or "Residential".  This means you can only build a single family home on this parcel. 
• Furthermore, the " approval of sewage disposal" restricts the residential construction to a maximum of 3 bedrooms.
• Minimum structure setbacks are 40 feet from the front, 15 feet from the rear and 10 feet from the sides.
• Water supplied is to be "by well".
• Sewer supplied is to be "by private septic system"

Here is a copy of the  survey showing the parcel...

Let me tell you a little history about this parcel...
A little more than 2 years ago, I was researching property in Marion County that I might invest in.  I found there was little to no property for sale in the Whitwell area.  I stumbled across a pair of parcels on Teague Road, close to Powells Crossroads, that were owned by Mr and Mrs Horace Linder.  Without an appointment, I approached his house (also on Teague Road) and found Mr Linder at home.  We had a pleasant conversation, and when asked about the two approximately one-acre parcels, he explained that they used to be part of the larger parcel which included the flat pasture land across the road.  He wanted the pasture, but didn't have an immediate need for the sloped and wooded land across from the pasture, so he decided to subdivide the land and thought he might sell these parcels one day.  

After a little more conversation and a little negotiation, I shook his hand and agreed to buy the parcels.  I few weeks later (on the 22nd of November, 2019) we closed escrow and I (actually, my 401k retirement plan) became the owner of parcels 5 and 6 of the subdivision.  I've been holding them for a couple of years, and have been increasingly receiving calls of interest in the land.  Apparently, there is a shortage of buildable lots in the Whitwell area, and people that know Whitwell really want to build their home there.  I gather it's a combination of small town values and easy access to the Chattanooga metro area (about 20 miles) that make Whitwell an ideal home.

This parcel is identified as Marion County Assessors Parcel Number (APN) 051 006.05  or on the deed, Lot 5 of Linder Subdivision, Phase 2 as appears in Plat Book 5, Page 532, Register's Office of Marion County, Tennessee.  The survey (shown above) identifies the parcel as being 0.9 acres, and the zoning is R1, which is single family residential.  The survey says the limit on the septic system would limit a house to be 3 bedrooms or less.  The land is gently sloped, and the parcel is rectangular, with a dog leg running along the road to the right of the main part of the parcel.  Unlike much of the land in Marion County, this parcel's gentle slope, in a rural part of the county, with a county maintained road, and existing power lines at the road, this is the ideal spot to build your home.

Let's talk about land value...  
For now, the Marion County Assessor shows the appraised value as $8,800.  Of course, annual property taxes are based on assessed value, so I want this figure to be as low as possible, and the assessed value for any county is not necessarily a good reflection on the actual market value.

But here is some real data, based on Zillow.com as of January 6, 2022:  
I did a search for vacant land, for sale, between 1/2 acre and 2 acres in size, and found nothing in "Powells Crossroads."  
I expanded the search to "Whitwell" and found the following:

• 1.3 acres at 268 Palm Street in Whitwell listed for $28,000 (it was appraised by the county for $5,775 last year), and
• 1.18 acres on the river with a boat dock already approved.   (Not a good comparable value, but listed for $299,000.)
• 1 acre right on Hwy 28, listed at $42,000

I am offering this parcel at just $24,000, and will give you a 10% cash discount (whether you finance it, or write a check, I don't care).  So $24,000 minus the $2,400 discount makes the lot yours for just $21,600.  With the shortage of buildable property in Whitwell, who knows how quickly this property might appreciate!

Or if you want to preserve your cash to build with, then I will offer owner financing (on a land contract) at ZERO PERCENT INTEREST.
Make me an offer.  Break up the $24,000 price in a way that works for you.  Tell me how much down payment you can afford (include a $300 processing fee) and how much can you afford per month.     For example, make a $6,000 down payment (plus $300 doc fee) and then the balance of $18,000 is paid in 60 monthly payments of $300 per month.  Remember - There is no interest and no pre-payment penalty.  

If you have an interest in buying this parcel, give me a call.    My cell phone number is (423) 596-3196


Remember, there is no interest and no pre-payment penalty.

If you have an interest in buying this parcel, give me a call.    My cell phone number is (423) 596-3196
​

Before you pull the trigger on this purchase, please read all the info I've provided on this page.  And if you are going to pay with the zero percent financing option, please click here and read that info before making a decision.  There are qualifications, but they are easy.

Then -- if you want to snatch up this property before anyone else does, call or text me at (423) 596-3196.  Thanks!

But before proceeding, I highly recommend you jump over to the FAQ's page, and read through that info.  At the bottom of that page is more info about the purchase options (cash or terms) and you can download the actual forms we use.  

AFTER YOU HAVE READ EVERYTHING ON THIS PAGE, and the FAQ's page , if you need to clarify something, or have process related questions (e.g. can I buy this as a gift, do you take goats in trade, etc.) then please, give us a call.  (By the way, we don't take goats in trade.)

MORE INFO:
If you find any information on this web page to be incorrect, please let me know so I can make a correction ASAP.  After you have read ALL the information on this page (which means you know everything I know about the property), feel free to call me if you have any additional questions or need to clarify anything.  My name is Larry Stewart and my personal cell phone number is (423) 596-3196

Here are some PDF copies of documents you may want to review...​

• The deed used to transfer ownership of the parcels to me,   (to follow soon)​​