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144 Hambright Rd
Reliance, TN

144 Hambright Rd

$370,000
2 bd • 1 ba • 1,200 sf

This analysis was generated by artificial intelligence 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

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Risk Assessment

Risk Analysis

Flood risk is a significant concern given the property's proximity to the Ocoee River, potentially leading to high insurance costs or property damage. The rural location may face wildfire risks, necessitating additional insurance coverage and safety measures. Utility reliability, including electricity and internet, could be inconsistent, impacting quality of life and rental potential. The property's value may be volatile due to its niche appeal and remote location, potentially limiting appreciation or making it difficult to sell quickly if needed. Zoning laws and land use restrictions in rural areas can be complex, potentially limiting future development or use changes. The turnkey nature with included furnishings may lead to faster depreciation of the property's contents, requiring more frequent updates to maintain its appeal. The single bathroom could become a significant issue if any plumbing problems arise, potentially making the house uninhabitable during repairs.
Insurance
Annual Cost

$1,332

$111 per month

Financials

Monthly Costs

Price History

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$124,583

-66.3% below list price

Median Price

$147,000

Based on 6 recent sales

Price per Sq.Ft

$181

Comparable Properties

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:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 11/8/2024
000 Perry Branch Road, Reliance, TN 37369
Price: $33,500
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 11/8/2024
000 Perry Branch Road, Reliance, TN 37369
Price: $33,500
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 11/8/2024
Perry Branch Road, Reliance, TN 37369
Price: $33,500
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 10/9/2024

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