SOLD 1 Acre South Pittsburg, TN

PENDING SALE AS OF 2/3/2022
- 1.35 acreS, with a graded dirt road and a building pad already cleared, a Two-minute Drive (15 minute walk) from downtown South Pittsburg, Tennessee (POST OFFICE, banking, groceries, hardware, auto repair, restaurants and more).

If you want to stock up at Walmart, Tractor Supply Company or lowes home improvement center, it's just a six minute drive (2 miles) to Kimball crossing shopping center. While you are there, have breakfast at the cracker barrel Old Time restaurant, or fill up at the china buffet.

If you need to stop by the county courthouse, or visit the Jasper county library, that's about six miles (12 minutes) Northeast of the property.

Coming soon in Bridgeport, AL, 7 miles or just 11 minutes to the south, there are thousands of new jobs on the way. The biggest batch is with the mammoth $1.6 billion Mazda-Toyota plant, which is expected to hire 4,000 workers and will open in 2021.

In fourty minutes, you can drive to downtown Chattanooga, TN (Metro area with about 400,000 people, five walmarts, and everything you will ever need).

In an hour and forty-five minutes, you can be downtown Nashville, TN.

ON Zillow, (effective Aug 15th, 2021) there are 11 lots for sale in south pittsburg. The cheapest available lot is $27,500.

I want to sell this lot quickly, so I have priced it very Competetively at $20,000. I'll give you a 10% cash discount, making it just $18,000 if you pay cash. OR - If you are looking for conserve your cash, you finance it (ZERO % INTEREST) with a down payment of $8,000 (PLUS $300 Doc Fee), and monthly payments of $500 per month for 24 months. Lock it up now, and build when you are ready! PHotos, video and details below...

Coming soon - a short aerial drone film of the property and the surrounding area

My walking/talking video tour of the road in front of the parcel, and then up to the building pad.

This rural 1.35 acre buildable lot is located a 15-minute walk (or a 2-minute drive) from the center of South Pittsburg , Tennessee. The dirt road leads you up to the already cleared building pad, from a county maintained road (Old Jasper Road) just off the main highway. Your house will sit halfway up the hill, with trees to create privacy and shade in the summertime, and filtered light and views of the north end of town and the river during the winter. South Pittsburg zoning (and deed restrictions) prevent the placement of temporary buildings and RV's or mobile homes, but this is the ideal location to build your cabin or dream home (required to be 1,200 square feet or more of living space). There is already electricity available at the road, and plans are to extend the sewer hookup across the frontage, saving you the cost and hassle of installing a septic tank. Here are some photographs of the parcel. Hover your mouse over the photos for captions. Or, click on the first photo to enlarge, and use the arrows on the sides of the photo to move through the photos.

Here are some documents that I've made reference to on this web page....

Here are some screen shots that show property lines and other information. Hover your mouse over the photos for captions. Because these screen shots are irregular size, you can see them much better using the slide show feature, by single clicking on the first photo. Then use the arrows on the sides of the photo to move through the photos

Here's the location on Google Maps. Input these coordinates right into your smart phone, and it will take you to the flat spot on the parcel: 35.019949, -85.698890 You can zoom in to see the parcel, or zoom out to see the surrounding area.

PRICE: $18,000 if paying cash, or you can finance the purchase with Zero % Interest. Keep reading for more info.
ACRES: 1.35 acres
APN: 142g-a-015.01
PROPERTY LOCATION: Old Jasper Road, approximately 2/10th of a mile North of intersection with N. Cedar Rd, in South Pittsburg.
NEAREST SMALL TOWN: Kimball, Tennessee about 3-4 miles to the North, across U S Hwy 24.
MEASUREMENTS (APPROX): 285' Wide (along Old Jasper Road) x 173' Deep
ELECTRIC UTILITY: Sequachee Valley Electric Cooperative ( www.svalleyec.com )
WATER UTILITY: South Pittsburg Board of Water Works ( southpittsburgutilities.com )
WASTE WATER: Currently septic, but it looks like the sewer will be available soon (read below).
NEAREST CITY: South Pittsburg, TN ( https://en.wikipedia.org/wiki/South_Pittsburg,_Tennessee )
COUNTY: Marion County ( https://en.wikipedia.org/wiki/Marion_County,_Tennessee )
STATE: Tennessee
ZIP CODE: 37380
NEAREST SCHOOLS: Info according to Zillow

3/10 - Jasper Elementary SchoolGrades: PK-4, Distance: 6.1 mi
5/10 - Monteagle Elementary SchoolGrades: PK-8, Distance: 15.8 mi
5/10 - Marion Co High SchoolGrades: 9-12, Distance: 5.7 mi

IDEAL USAGE:
The original owner purchased this parcel, as one of his investments. He considered building his home on the property, but never did.
The lot features a dirt road up the hill, which ends at a level building pad that has been cleared of trees. From the building pad, you can look up the hill and see a beautiful pattern of exposed limestone rocks, a bed of forest litter, and the filtered light making it's way down through the trees. To the right (north) beyond the cleared building pad are trees. To the left (south) is another cleared (has a bunch of small pine saplings) area which would likely be used for vehicle parking, and back towards the road (east) are trees, which provide a visual screen in the summer, and in the winter, a filtered view of the highway on the other side of Old Jasper Road, and a small glimpse of South Pittsburg Municipal Park, the Highway 156 Bridge (leads to New Hope) and the Tennessee River. In the winter time, you can hear the road noise from the highway, but the noise is less when there's leaves on the trees. And of course, inside an insulated house, you probably won't notice the road noise at all. The trade off for being close to the highway is that you can get in your car, and in less than three minutes, you can be at the grocery store, the local hardware store, the most popular restaurant in town, or the South Pittsburg City Hall.

South Pittsburg is a quaint little town, and is well known in the area for two things. Lodge Cast Iron that manufactures cast iron pots and pans, and for the Annual Cornbread Festival held every Spring. Parking gets difficult for the weekend of the festival, but if you don't mind waking about 10 minutes, you can leave your car at home and visit the festival on foot.

BUILDING RESTRICTIONS:
The restrictions on the property are specific enough to keep eye-sores, commercial enterprises and nuisance neighbors out of the neighborhood, but allow you the freedom and flexibility to build a nice house of your own liking, without overly restrictive rules regarding design, decoration, etc. The deed contains the following wording: Subject to the following Restrictive Covenants to run with the land herein conveyed:

Section One: Land use: the property shall be used for residential purposes only. One one (1) family, detached dwelling shall be permitted.
Section Two: Size and Quality of Dwelling: No more than one (1) residential dwelling shall be constructed upon any individual tract, and any dwelling constructed upon said lands shall have a minimum of one thousand (1,000) square heated living space. Furthermore, same shall be constructed from good quality materials and workmanship.
Section Three: Type of structures: No mobile homes, trailer home, ten or camper may be placed on this real estate for any utilitarian purposes. No unlicensed, nor any junked or salvaged vehicles may be kept upon the described premises. All outbuildings shall be of permanent nature and shall be constructed in such a manner as to conform to other such buildings in the neighborhood.

The remaining sections (summarized) prohibit annoyances or nuisance to the neighborhood, require garbage and refuse to be disposed of properly, prohibits livestock and poultry, and that the sewage system must be approved by the public health authorities.

NOTE REGARDING SEWER: Early this year, (January, 2020) I received, in the mail, a "Private Sewer Lateral Maintenance/Easement Agreement" to sign. I called the water/sewer utility company and they told me that were seeking permission to extend the city sewer line along Old Jasper Road, and needed permission to allow access along the road frontage, in exchange for permission to tie into the city sewer line. Of course I signed and returned the permission agreement.

When (if) this sewer line is installed, the value of the property is going to go up, since the property then has electrical power, city water and city sewer, making it much less expensive to proceed with constructing a home on the property. Now may be the best time to invest in the property before the sewer is extended.

BACK STORY:
This property has not been on the market in more than a decade. I couldn't believe I found it before anyone else did. This retired lawyer had intended to build a house on the property, which overlooks the highway and beyond, has a limited view of Lake Nickajack on the Tennessee River. I approached him about selling the parcel, and we closed escrow through Reliance Title Agency, Inc. in Jasper (the Marion County Seat). I purchased a Title Insurance Policy at the time of purchase. Before purchasing the property, I went to South Pittsburg City Hall and talked with the Police Chief (Wayne Jordan), who also serves as the City Building Inspector. He confirmed that the owner of the property could build a home on the parcel, subject to the restrictions on the deed, and the required minimum setback from the road of 25 feet, with 7 foot setbacks from the sides and back of the property . I also called the Marion County Building Inspector, (Gabe Yeargan), and confirmed there would be no problem with building a home on the parcel, subject to the owner obtaining a sanitary sewer system permit from the County Health Department.

GPS COORDINATES:
Input these coordinates right into your smart phone, and it will take you to the flat spot on the parcel: 35.019949, -85.698890

HOW TO FIND IT:
The parcel is just a six minute drive (2 miles) from Walmart, Lowe's, Tractor Supply and Cracker Barrel Restaurant in Kimball, here are driving directions from the Kimball Exit from U S Highway 24:

Exit the highway, and turn South onto Highway 72, also known as N. Cedar Ave.
Proceed South 1.8 miles on N Cedar Ave (staying slightly right), then turn right onto Old Jasper Rd.
Proceed North on Old Jasper Rd about a quarter mile, and property will be on the left, past the apartment building.
Look for the "For Sale by Owner" sign next to the dirt road.
Park across from the sign and walk up before driving up dirt road. Road was graded several years ago, and needs to be smoothed and covered with a load of gravel.

WEBSITE FOR MORE PROPERTY INFO:
https://tnmap.tn.gov/assessment/
Click on Marion County
Then click on Search Owner Name: Stewart
From list of properties, look for Parcel 142G A 015.01 located on Old Jasper Rd
One property is found, you can also see aerial map, street map, flood map, as well as use the "Measure Tool" to measure the lot and identify GPS points for the property corners (see attached screen shots on this web site).
At bottom of screen, click "here" and view the most up-to-date ownership and assessment information, (view the Real Estate Assessment Data sheet).

WEBSITE FOR PROPERTY TAX INFO:
https://secure.tennesseetrustee.org/search.php
Search by Name: Jenkins (the last name of the previous owner who paid taxes up through 2019)
Then click through the pages. I found Jenkins Charles G SR et al, associated with the property on Old Jasper Rd on page 7 of 50 pages.
County on-line records do not yet me as the owner, but on this web page, you will find a copy of the "Property Tax Data" sheet showing three items I've circled in yellow highlighter:

The status of the property taxes are PAID (tax amount: $81.00),
Before I purchased the parcel, the previous owner paid $11,000 in July of 1999, and
The county values the property at $15,000. (which helps keep the property taxes lower)

PROPERTY ATTRIBUTES:
ELEVATION (feet): approximately 1600 feet above sea level
SLOPE: Slope of property is estimated to be a medium slope up the dirt road, but the building pad to the left and the parking area to the right are level. The rest of the parcel is wooded hills with some beautiful exposed limestone.
ZONING: Vacant now - ready for a single family residence
TERRAIN: Wooded Hill with exposed limestone ledges
POWER: Power Lines at the Street
PHONE: Mobile and/or Landline
WATER: Water line at the street
SEWER: Septic or Alternate System for now, and projected sewer tie-in in the near future.
ACCESS: Approximately 285 of frontage on Old Jasper Road, with dirt road from Old Jasper Rd up to building pad
TIME TO BUILD: No Limit
TITLE INFO: Clear Title (purchased with Title Insurance Policy).

TITLE INSURANCE:
We purchased Title Insurance when we bought this parcel to make sure there were no liens or encumbrances.

PROPERTY TAXES:
                           Annual: $109 per year (as of 2021 taxes)
                           Owed: None - Property Taxes are Paid Up to Date

PRICING INFO:
I am a private investor, in my spare time. I look through thousands of properties and make hundreds of offers before I find one property that meets my criteria and allows me to buy it at a deep discount, so I can turn around and sell it below market value, and still make a healthy profit for my time and expense. I contacted a Realtor at Mossy Oak Properties and asked what they thought the property would sell for, and he said it would likely sell between $25,000 and $30,000. With expenses, I've got almost $10,000 into the parcel, If I list it with the Realtor, I'd likely net $20,000, but land like this, priced at full retail, usually takes 3-9 months to sell. In my business, I am better off selling it for a discount quickly, and using those proceeds to buy another parcel and starting the process again. Many of my customers are end users, with plans to build their dream cabin or home. Other customers are other investors, who buy my parcels because my prices are below market value, and then they turn around and sell it with a Realtor and make a nice profit, or some of them buy the parcel and then resell it on terms, earning interest for 10, 15 or even 20 years. I try to price the property so that my wholesale buyer will make at least as much as I make on the property. So, based on my investment of $10,000, and the potential net proceeds if I sold it with a Realtor of at least $20,000 (which is what I expect my buyer could do with the parcel after they buy it from me), there's about $15,000 of profit after commissions and closing costs. To get a quicker sale, I will accept about half of that level of profit ($8,000) to my cost of $10,000, and that's how I arrive at my wholesale price of $18,000. That's the cash price. I am also offering financing on this parcel at a price of $20,000. See below for details.

NOTE: If (when) the sewer line runs along Old Jasper Road, I expect the value of this parcel will go up to $35,000 or more. If I knew exactly when that would be, I would hold the property for the extra profit. But, for now, I'd rather have cash so I can keep buying more property that I can sell.

When you are ready to buy the parcel, want to inquire about financing, or have other questions, give me a call on my personal cell phone number (423) 596-3196, or shoot me an email at LarrySellsLand@gmail.com

TERMS SALE:  As you may know, trying to finance a piece of vacant land through a bank is difficult, if not impossible. To accommodate the needs of our buyers, we sometimes are able to offer financing on our properties. This is one of those properties where we can offer terms.

On this parcel, we require a down payment, or $8,000 to start (plus a $300 doc fee). We will finance the balance on a land contract, (pretty much the same as making payments on a car), except we are not charging any interest, and there is no pre-payment penalty. The balance will be paid in 24 payments of $500.00 per month, starting the month after the down payment is made. That's a total of $20,000 for the parcel. Still on the low end of the market range for the lot - estimated between $25,000 and $30,000. This is simple and straight forward. We don't pull your credit report, and we don't check your income. We do ask you to confirm that you can do three things before you buy the land...

Give us verbal assurance that you can afford both the down payment and the monthly payments, and
Give us verbal assurance that you are responsible enough to mail in your payment each month (personal check or money order, or better yet, set up a bill pay recurring payment to be automatically mailed by your bank) , to be received in our mail box by the 5th of each month, without us having to remind you, and without any excuses.
Promise us that you will respect the land, and not do anything against the law, and not do anything that would diminish the value of the land.

Of course, it is assumed that your intention is to complete the payments and own the land, free and clear. However, we also know that occasionally, things happen. For this reason, we allow buyers to cease their payments at any time, and we don't send negative credit reports, or follow up with any legal proceedings. If a person needs to back out of the transaction, they can just forfeit their rights to the land, and abandon any previous payments. We will take the land back, and resell it at a later time. Of course, I know you won't want to give up the down payment and monthly payments you have made, but if something happens and you have to back out of the agreement, it's an option.

And when the full balance of the purchase price has been satisfied, we will send you a "satisfaction of payments" document, along with a signed and notarized deed, ready to file at the county recorder.

If you are interested in the payment plan, let us know and we will set things up for you in a matter of hours. First, go to the FAQ page on this website, and at the bottom of the page, I better describe the cash and terms purchase options, and there you can download the cash purchase agreement or the terms land contract. Print it out, fill in the blanks, initial and sign the document. Take photos of the signed docs and email to text them to me.

Once I have received your signed documents, your down payment can be paid one of three ways.

At Buyer request, Seller will send a PayPal invoice to the Buyer in the amount of $8,000.00, or
Buyer may elect to send $8,000.00 down payment through Facebook Marketplace.
Buyer can mail a check, money order or cashiers check and send it via "snail mail".

At Buyer request, Seller will send a PayPal invoice to the Buyer in the amount of $300.00, or
Buyer may elect to send $300.00 payment through Facebook Marketplace.
Buyer can mail a check, money order or cashiers check for $300 and send it via "snail mail".

PayPal allows the Buyer to use a credit card, debit card, or bank account. Facebook Marketplace only accepts debit card to send or receive payments. Any of these methods will allow the Buyer to make the deposit. As the Seller, I ask that you do not make a payment via either method, until after I have received your paperwork. There is always the possibility that I may receive two sets of paperwork and I prefer not to have two people send me funds for the same parcel. If this were to happen, with Marketplace, I have to initiate the order to "Accept Payment", so I could accept one and decline the other, but I don't have that same option with PayPal, and I prefer not to have to accept and then send a refund.

Once I have received your signed agreement, and your non-refundable deposit, I will submit the signed agreement to Reliant Title (also known as the title company), and ask them to handle the transaction. They will abide by the purchase agreement, and at your instruction, will do the research necessary to provide you with a Warranty Deed of ownership, and the title insurance policy (if you chose to purchase one). In the end, they record your deed at the county recorder, and you'll have the title insurance policy. Many of my customers do not live in the county where the parcel is, and the escrow company will take care of emailing the closing documents to you. You'll need to be able to print out a few documents, sign them in the presence of a Notary Public, and then return them to the escrow service.

The other decision for you will be whether or not you want to purchase a "Title Insurance Policy". In most cases, the title insurance premium is about $150 or so. This is an optional purchase for you, but if you are planning to take out a mortgage to secure a building loan on this parcel, your bank will certainly want title insurance. If that's the case, I highly recommend you purchase title insurance at this time.

Please note -- The $300 non-refundable deposit protects me, so if you change your mind, or fail to complete the sale within 30 days, the sale is terminated, and the fee will be retained. Please don't act on this purchase until you are ready to commit to the purchase.

For more information on purchasing this property, and to download the purchase agreement, please visit the FAQ page. Read that information, and then you can download the form at the bottom of the page.

IF YOU WANT TO USE A REALTOR:
I have recently (Feb 2022) used a listing service to advertise the parcel on MLS. I have decided I will cooperate with the Buyer's Realtor (if any) a 3% commission.

BACK UP OFFERS:
There are two things I want you to be aware of. Even though someone says "I want it", I continue to offer the property to others until I have received both of these items (a) a signed agreement, and (b) the deposit for a cash sale, or in the case of a terms sale, the down payment. Once I receive both of these from you, you can consider the property yours. At that point, I mark the listing as "Pending" and I don't accept any down payments or deposits, but I will accept other signed agreements, just in case the first sale falls through, then I know who is next in line.

DUE DILIGENCE:
As with any sizable purchase, you should do your due diligence before purchasing this, or any real estate. We have provided all the information we know about the property, and have relied on websites for most of our information. Although the information is deemed reliable, you should do your own research, and talk to the title company when they get the preliminary report completed (usually about 10 days).

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

SOLD AS OF 2/3/2022Build your dream home on 1.35 aCRE lOT, a 40 Minute drive to Downtown Chattanooga, TN

SOLD AS OF 2/3/2022
Build your dream home on 1.35 aCRE lOT, a 40 Minute drive to Downtown Chattanooga, TN