Score
0Reliance, TN
144 Hambright Rd
370K
2 beds
1 baths
1,200 sqft
2 bd • 1 ba • 1,200 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$370,000
Price/Sq.Ft
$308
Year Built
2023
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This newly constructed property, built in 2023, offers a pristine 2-bedroom, 1-bathroom home on a spacious 1.85-acre lot with river views and wooded surroundings. At $308.33/sqft, it's priced 25% below the average of $411/sqft for new construction in Polk County. The large lot size is a significant asset, being 3.7 times larger than the typical 0.5-acre lot in rural Tennessee. Its turnkey status with all furnishings, decor, and toiletries included adds immediate value, saving an estimated $15,000-$20,000 in setup costs. The property's proximity to hiking trails and a boat launch enhances its appeal for both personal use and as a vacation rental. The cathedral ceilings and full appliance package (including washer/dryer) are valuable amenities often absent in rural properties.
The Bad
The single bathroom may limit the property's appeal and functionality, especially for a 2-bedroom home. This could impact its competitiveness in the market, as most 2-bedroom homes typically offer 1.5 to 2 bathrooms. The 1,200 sqft size, while cozy, is about 20% smaller than the average new construction single-family home in rural Tennessee (typically around 1,500 sqft). The property has been on the market for 154 days, which is 62% longer than the average DOM of 95 for Polk County, suggesting potential overpricing or limited buyer interest. The location in Reliance, while scenic, is relatively remote, with the nearest schools being 6.7-8.5 miles away, which could be a drawback for families or full-time residents.
The Ugly
The property has undergone multiple price reductions, from $400,000 to $370,000, indicating potential overvaluation or market resistance. This 7.5% reduction in just 5 months could signal further price pressures. The rural location may present challenges with utilities and services. There's no mention of the water source (well or municipal) or septic system, which could involve significant costs if not properly set up or maintained (potential $10,000-$20,000 for a new well or septic system). The area's flood risk near the Ocoee River is not specified, which could lead to high insurance premiums or potential property damage. Internet connectivity, crucial for remote work or vacation rentals, may be limited or expensive in this rural setting. The estimated insurance cost of $1,332/year seems low for a rural property, potentially indicating underinsurance or not accounting for flood/natural disaster coverage.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for buyers seeking a secluded vacation home or investment property in a scenic, natural setting. It's ideal for outdoor enthusiasts who value proximity to hiking trails and water activities. The turnkey status makes it perfect for investors looking to immediately list on vacation rental platforms, with potential for strong seasonal demand. The property would appeal to couples or small families desiring a weekend retreat, with household incomes above $100,000 to comfortably afford the $370,000 price tag (assuming a 20% down payment and current mortgage rates). Remote workers who can manage with potentially limited internet connectivity would find the serene environment conducive to a work-from-home lifestyle.
Not For
This property is not suitable for large families or those needing multiple bathrooms, given its 2-bedroom, 1-bath layout. It's impractical for buyers requiring easy access to urban amenities, healthcare facilities, or diverse schooling options, given its remote location. The property isn't ideal for full-time residents who need to commute daily, as the rural setting likely involves significant travel times to employment centers. Investors seeking consistent year-round rental income may find the seasonal nature of the area challenging. First-time homebuyers or those with limited budgets may struggle with the $370,000 price point and potential additional costs associated with rural living.
Demographics
Area Median Income
$73,750
Property History
Price History
Ownership Timeline
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodMiddle
6.0/10
GoodHigh
6.0/10
GoodFinancials
Monthly Costs
Market Rent (2 bed)
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$370,000
Price/sqft
$308
Layout
2 bd•1 ba
Days on market
301 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$124,583
197.0%
Your price is 197.0% above average
Median Price
$147,000
151.7%
Based on 6 recent sales
Price per Sq.Ft
$181
70.3%
Your price is 70.3% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 125 Hiwassee Circle, Reliance, TN 37369 | $250,000 | 1,382 | 2 | 2 | $18141.3% | 10/3/2024 |
| 125 Hiwassee Circle, Reliance, TN 37369 | $250,000 | 1,382 | 2 | 2 | $18141.3% | 10/3/2024 |
| 0 Ellis Creek Road, Reliance, TN 37369 | $147,000 | N/A | N/A | N/A | N/A | 11/8/2024 |
| 000 Perry Branch Road, Reliance, TN 37369 | $33,500 | N/A | N/A | N/A | N/A | 11/8/2024 |
| 000 Perry Branch Road, Reliance, TN 37369 | $33,500 | N/A | N/A | N/A | N/A | 11/8/2024 |
| Perry Branch Road, Reliance, TN 37369 | $33,500 | N/A | N/A | N/A | N/A | 10/9/2024 |
125 Hiwassee Circle, Reliance, TN 37369
Price: $250,000
Sq.Ft: 1,382
Beds/Baths: 2/2
$/Sq.Ft:
$18141.3%
Sale Date: 10/3/2024
125 Hiwassee Circle, Reliance, TN 37369
Price: $250,000
Sq.Ft: 1,382
Beds/Baths: 2/2
$/Sq.Ft:
$18141.3%
Sale Date: 10/3/2024
0 Ellis Creek Road, Reliance, TN 37369
Price: $147,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 11/8/2024
000 Perry Branch Road, Reliance, TN 37369
Price: $33,500
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 11/8/2024
000 Perry Branch Road, Reliance, TN 37369
Price: $33,500
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 11/8/2024
Perry Branch Road, Reliance, TN 37369
Price: $33,500
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 10/9/2024
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