I purchased this parcel when there were no roads (not even a dirt road) running to the property. I had to use a GPS unit and hike 1/2 a mile from a dirt trail to find the approximate corners of the property. Since then, they have installed roads to all the parcels in the neighborhood, which makes access to the property a breeze. The road work was completed in in late Summer, and there hasn't even been time for the market to reflect the increase in property values. At this time, there is no power running to the parcel, but with the roads just installed, it would not be a surprise to find the utility company installing power in the neighborhood to accommodate what will likely be a number of new homes built in the neighborhood. First, let me show you the property. 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 September 2021), starting at the front gate, and ending with a view of the property...
To start, here is my "Walking Tour" of the property (recorded in September 2021), starting at the front gate, and ending with a view of the property...
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. The white stakes are approximate corners of the parcel. 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: 34.987032, -85.581346 (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 are a couple of screen shots from the county website that show the GPS coordinates.
Front Left (Southwest) corner: 34.986777 -85.581529
Front Right (Southeast) corner: 34.987234 -85.581040
Click on any of the images to see a larger view.
Front Left (Southwest) corner: 34.986777 -85.581529
Front Right (Southeast) corner: 34.987234 -85.581040
Click on any of the images to see a larger view.
Directions to the property: If you are going to drive, here are turn by turn instructions coming from Trenton, Alabama. PLEASE NOTE: IF YOU USE A GPS, OFTEN IT WILL DIRECT YOU TO COME IN FROM THE NORTH SIDE OF THE SUBDIVISION. THAT ROAD IS PERMANENTLY CLOSED DUE TO A WASHED OUT ROAD. YOU MUST COME IN FROM THE SOUTH SIDE FROM DENNIS ROAD, THROUGH GEORGIA. THE SUBDIVISION IS RIGHT ON THE TENNESSEE-GEORGIA BORDER. Here are the directions. The first two maps bring you (a) East on Hwy 24 from Nashville, or (b) West on Hwy 24 from Chattanooga. The third map brings you from exit 17 on Hwy 59, towards the entrance to the subdivision on Dennis Road in Trenton, GA, and the last map brings you from the gate at Dennis road, to the property. PLEASE NOTE: THERE IS A GATE TO THE SUBDIVISION, AND IT IS OFTEN LOCKED. I SUGGEST YOU CALL ME FOR THE GATE LOCK CODE BEFORE YOU VISIT THE PROPERTY.
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Here is a map showing the topography of the parcel and the surrounding area, which is fairly level, with a slight slope draining away to the Southwest corner of the property (towards the road, and towards the catch basin that feeds the culvert that runs under the 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:
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.
- Go to TN Real Estate Assessment Data which can be found at https://www.assessment.cot.tn.gov/RE_Assessment/
- 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.
- Input the following "Owner Name": Stewart Laurence
- You should see the search results, including a few properties that I own in Marion County. Find the line that shows Salolee Cir, along with the parcel numbers, and other info.
- 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.
- 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.
Here are two views, on the left is the street map and on the right is the aerial or satellite view. (Note - these photos were taken before the new road was constructed. It could be a couple of years before the satellite view gets updated on the county GIS site.)
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Here is the same map, but with the FEMA Flood Zone tab selected. Notice that there is no flood zone in the neighborhood, but there are flood zones down along Lake Nickajack.
I used the Measuring tool to measure the distance across the front boundary and the distance from front to back.
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And finally, I feel the following map is very important for any parcel in Tennessee. This FEMA Flood Map shows thatxxxxxxxxxxxxxxxx is in an area of minimal flood hazard (FEMA Zone X Minimal Flood Risk). If you want to see what a elevated risk flood zone looks like, look at Highway 75 just north of the highway and south of the Volkswagen plant in Chattanooga, TN. There you will see "Zone AE" which is a high-risk floodplain. Please do your own due diligence, but based on the maps, I don't see any concern.
OK - that's enough with the photos and maps. Let's get to the details about the property...
- The parcel is 1.66 acres in size according to the county's GIS website.
- The property is zoned "Residential". This means you can only build a single family home on this parcel.
- the minimum square footage for a one story home is 1,200 sf, or 1,800 sf for a two story home.
- The exterior of the house shall be painted in earth tones.
- The subdivision is supposed to approve your plans, to make sure they fit in with the other homes in the area.
The manager of the informal HOA wrote me a private message telling me two things about the CCR's:
Let me tell you a little history about the Sequatchie Pointe subdivision...
The subdivision was established by a developer more than a decade ago. Parcels sold for $50,000 or more (over $100,000 for bluff or lake view lots). The developer put about $5,000,000 into a bond to guarantee the roads would get built.
Both the developer and the bond company went bankrupt. There were only a hand full of full time residents in the subdivision, and the property development stalled for many years, until the county suited the bond company, and was finally awarded about 1/3 of the funds in a settlement a couple of years ago. The county mayor oversaw the use of the funds, and that's when the existing roads were repaired, and the road that led to our property was newly constructed.
Now that the road construction is completed (late summer of 2021), owners can access their property, many for the first time ever. Prior to the road project, I had to hike about half-an- hour using a compass, and my phone's GPS to find the parcel, which had no road access. Now, you can drive all the way to the front of the property on a new road.
People that had been discouraged from building for years and years are now excited about moving forward with plans to build homes.
Other relevant things to know about the property..
The other potential buyer for this parcel is someone that wants to build an "off-the-grid" home, using solar power. I am told that some prospective builders prefer not to have commercial power running to their homes, and may even choose to use a water capture system for their fresh water needs, and use an alternate septic system (such as composting toilets, etc). Of course, you want to have a conversation with the county office before moving forward with your plans.
Let's talk about land value...
For now, the Marion County Assessor shows the assessed value as $15,100. 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 on a pair of lots within 1/2 mile of our parcel, based on Zillow.com as of January 17, 2022:
2.2 acres on Chesadu Circle (Lot #93 - originally sold for ??? unknown amount ???) is listed at $35,900 ($16,318 per acre)
1.92 acres on Chesadu Circle (Lot #107 - originally sold for $70,500) is listed at $49,900 ($25,989 per acre)
1.71 acres on Teludachee Trail (Lot #166 - originally sold for $104,900) is listed at $49,900 ($29,181 per acre)
3.72 acres on Teludachee Trail (Lot #186 - originally sold for $45,000) is listed at $70,000 ($18,667 per acre)
And, on the "Sequatchie Pointe for Sale" Facebook Page, there is an owner selling a 2.1 acre lot on Salolee Circle (Lot #275 - originally sold for $70,500) is listed on the page at $90,000 ($42,857 per acre). And this lot is on the same street as our lot.
My parcel (Lot # 264) originally sold for $62,900 according to the county records. Of course, that was before the subdivision went through the bankruptcy process, and there was a road leading from the Tennessee side into the subdivision.
I am offering this parcel at just $20,000 (the lowest priced parcel in the subdivision), and will give you a 10% cash discount (whether you finance it with a bank, or write a check, I don't care). So $20,000 minus the $2,000 discount makes the lot yours for just $18,000. With the shortage of buildable property in Southeastern Tennessee, 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 $20,000 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 $5,000 down payment (plus $300 doc fee) and then the balance of $15,000 is paid in 75 monthly payments of $200 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
- "Dwelling [restrictions] are not being enforced.... with the exception of single wide trailers", and
- "To the best of my recollection, I believe the setbacks are 40 feet from the street and 10 feet from the side and rear boundaries".
Let me tell you a little history about the Sequatchie Pointe subdivision...
The subdivision was established by a developer more than a decade ago. Parcels sold for $50,000 or more (over $100,000 for bluff or lake view lots). The developer put about $5,000,000 into a bond to guarantee the roads would get built.
Both the developer and the bond company went bankrupt. There were only a hand full of full time residents in the subdivision, and the property development stalled for many years, until the county suited the bond company, and was finally awarded about 1/3 of the funds in a settlement a couple of years ago. The county mayor oversaw the use of the funds, and that's when the existing roads were repaired, and the road that led to our property was newly constructed.
Now that the road construction is completed (late summer of 2021), owners can access their property, many for the first time ever. Prior to the road project, I had to hike about half-an- hour using a compass, and my phone's GPS to find the parcel, which had no road access. Now, you can drive all the way to the front of the property on a new road.
People that had been discouraged from building for years and years are now excited about moving forward with plans to build homes.
Other relevant things to know about the property..
- The old Home Owner Association (HOA) no longer exists. The newly formed HOA is a little less formal, and they have agreed to request a $100 per year dues payment, which is voluntary, and is to be used to help maintain the subdivision
- There is no electrical power running to the neighborhood where this parcel is, but it is anticipated that as new construction begins, electrical power will follow (because the power company will have a profit-motive to supply power lines and generate income).
- There is no sewer, but I am told that at the time of development, all the parcels were "perk tested" and there are no known obsticals for installing a simple septic system.
- Neighbors have been able to drill water wells, but I am told the water is very hard, and most people use a filter system or use bottled water for drinking and cooking.
The other potential buyer for this parcel is someone that wants to build an "off-the-grid" home, using solar power. I am told that some prospective builders prefer not to have commercial power running to their homes, and may even choose to use a water capture system for their fresh water needs, and use an alternate septic system (such as composting toilets, etc). Of course, you want to have a conversation with the county office before moving forward with your plans.
Let's talk about land value...
For now, the Marion County Assessor shows the assessed value as $15,100. 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 on a pair of lots within 1/2 mile of our parcel, based on Zillow.com as of January 17, 2022:
2.2 acres on Chesadu Circle (Lot #93 - originally sold for ??? unknown amount ???) is listed at $35,900 ($16,318 per acre)
1.92 acres on Chesadu Circle (Lot #107 - originally sold for $70,500) is listed at $49,900 ($25,989 per acre)
1.71 acres on Teludachee Trail (Lot #166 - originally sold for $104,900) is listed at $49,900 ($29,181 per acre)
3.72 acres on Teludachee Trail (Lot #186 - originally sold for $45,000) is listed at $70,000 ($18,667 per acre)
And, on the "Sequatchie Pointe for Sale" Facebook Page, there is an owner selling a 2.1 acre lot on Salolee Circle (Lot #275 - originally sold for $70,500) is listed on the page at $90,000 ($42,857 per acre). And this lot is on the same street as our lot.
My parcel (Lot # 264) originally sold for $62,900 according to the county records. Of course, that was before the subdivision went through the bankruptcy process, and there was a road leading from the Tennessee side into the subdivision.
I am offering this parcel at just $20,000 (the lowest priced parcel in the subdivision), and will give you a 10% cash discount (whether you finance it with a bank, or write a check, I don't care). So $20,000 minus the $2,000 discount makes the lot yours for just $18,000. With the shortage of buildable property in Southeastern Tennessee, 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 $20,000 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 $5,000 down payment (plus $300 doc fee) and then the balance of $15,000 is paid in 75 monthly payments of $200 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
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!
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
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)
