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2666 Main St
Score
0
Surgoinsville, TN

2666 Main St

1.2M
4 bd • 2 ba • 3,896 sf

This analysis was generated on 2/12/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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0:00 / 0:00
List Price

$1,200,000

Price/Sq.Ft

$308

Year Built

1789

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• The property is one of Tennessee's oldest brick dwellings, built around 1789. Its historical significance adds unique value and appeal. • It has been in the Armstrong family since its construction, making it available for sale for the first time in over 200 years. This provides a rare opportunity to own a piece of history. • The property is set on 3.77 acres, offering stunning views of rolling hills and countryside. The large lot size and hilltop location provide privacy and scenic vistas. • The 3,896 square-foot home features four bedrooms, two bathrooms, a spacious kitchen, and ample bonus space. The expansive attic offers potential for additional living space. • The property includes eight original fireplaces, beautifully preserved flooring, and exquisite paint finishes dating back to the 1830s and earlier. These original features add character and charm.

The Bad

• The property requires significant restoration work. While this presents an opportunity for preservation, it also means substantial upfront costs and ongoing maintenance. Detailed cost estimates are essential. • There are no utilities or systems listed. This suggests that the property may lack modern amenities and require upgrades to electrical, plumbing, and HVAC systems. • The location in Surgoinsville, TN, offers a rural lifestyle with limited job opportunities and amenities. Commuting to larger cities for work or shopping may be necessary. • The property has been on the market for 141 days, which is longer than the local average. This could indicate pricing issues or limited buyer interest.

The Ugly

• **Potential for Hidden Structural Issues:** Homes of this age often have hidden structural problems such as foundation issues, rotting wood, or pest infestations. Addressing these problems can be costly and time-consuming. • **Unknown Condition of Utilities:** The absence of listed utilities raises concerns about the condition and functionality of essential systems like plumbing, electrical, and HVAC. Upgrading these systems can be a major expense. • **Restrictions on Renovations:** The requirement for a detailed preservation and restoration plan may limit renovation options and increase costs due to the need for specialized materials and expertise. Violations of historical preservation standards can result in fines or legal action. • **High Insurance Costs:** The major fire risk (5/10) and the age of the property may result in higher insurance premiums. The estimated insurance cost of $4,320 per year may be higher than average for the area. Additionally, there may be potential for unexpected increases in insurance costs due to the property's age and historical status. • **Limited Appreciation Potential:** While the property's historical significance may attract certain buyers, its rural location and restoration requirements may limit its appreciation potential compared to other properties in the area. The median income in the area is $37,015, suggesting that local buyers may have limited purchasing power.

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

• History enthusiasts and preservationists dedicated to restoring and maintaining historical properties. The property's rich history and original features present a unique opportunity for those passionate about historical architecture. • Buyers seeking a large property with acreage and panoramic views. The 3.77-acre lot and hilltop location offer privacy and scenic vistas, appealing to those who value space and natural beauty. • Individuals willing to invest in a significant renovation project. The property requires substantial work, making it suitable for those prepared to undertake a comprehensive restoration. • Buyers interested in owning a unique and historically significant home. Stoney Point's age, architectural details, and historical connections make it a one-of-a-kind property.

Not For

• Buyers seeking a move-in ready home. The property requires significant restoration work and is not suitable for those looking for a turnkey solution. • Individuals with limited renovation budgets. Restoring a historic home to its original condition can be costly, and potential buyers should be prepared for substantial expenses. • Buyers prioritizing modern amenities and conveniences. While the property has historical charm, it may lack some of the modern features found in newer homes. • Individuals uncomfortable with rural living. Surgoinsville offers a rural lifestyle, which may not appeal to those accustomed to urban environments. • Individuals seeking a quick return on investment: Given the significant restoration work required and the unique nature of the property, rapid appreciation is not guaranteed.
Demographics
Area Median Income

$37,015

Property History

Price History
Ownership Timeline

Property Taxes

$67
2023 Tax Assessment
0.2%from previous year
Assessed Value$2,025
Tax Rate3.29%

Sunlight Analysis

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Sunlight Analysis

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Risk Assessment

Climate Risks

fireMODERATE

Insurance: Required

heatMODERATE

7 extreme heat days per year

98th percentile: 101°F

airMINIMAL

2 bad air quality days per year

windMINIMAL

Insurance: Recommended

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

Risk Analysis

• **Significant Restoration Costs:** Restoring a home built in 1789 will likely involve substantial costs for materials, labor, and specialized expertise. Obtaining detailed cost estimates is crucial. • **Structural Issues:** Given the age of the property, there may be underlying structural issues that require attention. A thorough inspection by a qualified professional is essential. • **Climate Risks:** While the flood risk is minimal (1/10), the fire risk is major (5/10), potentially leading to higher insurance premiums. Implementing fire mitigation measures may be necessary. • **Utilities and Systems:** The property description mentions no specific utilities or systems. Assessing the condition of existing systems (or the need for new ones) is critical. Well water and septic systems are common in rural areas and require regular maintenance and testing. • **Historical Preservation Requirements:** The owners require a detailed plan for preservation and restoration with any offer. This plan must meet specific historical preservation standards, potentially limiting renovation options and increasing costs. • **Zoning and Regulations:** Understanding local zoning regulations and historical district requirements is essential. These regulations may impact renovation plans and future development possibilities. • **Limited Market Appeal:** The unique nature of the property may limit its appeal to a smaller pool of buyers, potentially affecting resale value.
Insurance
Annual Cost

$4,320

$360 per month

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Schools

Surgoinsville Middle School

PublicGrades 5-8
5/5
Elementary
3.1 mi
Get more information on GreatSchools

Surgoinsville Elementary School

PublicGrades PK-4
8/5
Primary
3.2 mi
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Volunteer High School

PublicGrades 9-12
5/5
High
3.1 mi
Get more information on GreatSchools

Financials

Monthly Costs
Market Rent (4 bed)

$1,170

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