538 Mt Nebo Rd
Description
🔥 DEAL OVERVIEW
This is a unique investment opportunity structured for serious investors seeking a strong equity position with partial seller financing. Purchase Price: $175,000
Buyer Investment (Approx. 80%): $140,000
Seller...Investment opportunity on approximately 2 acres in a quiet rural setting near the Tennessee/Alabama line. This 3-bedroom, 1.5-bath home offers over 1,500 square feet, a large walk-in laundry room, 2-car garage, and additional storage space. Mt. Nebo Road | Iron City, Tennessee
🔥 DEAL OVERVIEW
This is a unique investment opportunity structured for serious investors seeking a strong equity position with partial seller financing. Purchase Price: $175,000
Buyer Investment (Approx. 80%): $140,000
Seller Financing (Approx. 20%): $35,000. Seller is willing to finance a portion of the purchase, allowing buyers to maintain liquidity while still securing the asset.
🏡 PROPERTY DETAILS
3 Bedrooms
1.5 Bathrooms
1,500+ Sq Ft
2 Acres
2-Car Garage
Large Laundry Room
Additional Storage
Potential to convert into 4th or 5th bedroom to increase value.
💰 FINANCING STRUCTURE
Down Payment: ~80%
Seller Carry: ~20–25%
Example Loan: $35,000
Sample Terms (Negotiable):
Interest Rate: 7.5%
Term: 5 Years
$1000 a month Payment: month is May 1st 2026 . Balloon Payment at Maturity
📊 INVESTMENT STRATEGY OPTIONS
1. Fix & Flip
Renovate and resell for profit
Add bedrooms to increase ARV2. Buy & Hold
Long-term rental income
Potential appreciation
3. BRRRR Strategy
Rehab → Rent → Refinance → Repeat
Lease
⚠️ PROPERTY CONDITION
Sold AS-IS
Previously winterized
Updates and repairs needed
Buyer to perform due diligence and inspections
💡 WHY THIS DEAL MAKES SENSE
Strong equity position upfront
Reduced financing risk for seller
Flexible terms for buyer
Faster closing potential
Opportunity to generate passive income (seller side)
📍 LOCATION BENEFITS
Near Tennessee / Alabama line Lower county taxes
Quiet rural setting
📞 CONTACT INFORMATION
Managing Principal Broker / Owner
- Listed by Shavonda M. Polk • Polk Property Real Estate
Property Details for 538 Mt Nebo Road
Property Details for 538 Mt Nebo Road
| Status | Active |
|---|---|
| MLS # | 3038974 |
| Days on Market | 111 |
| Taxes | $825 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Single Family |
| MLS Type | Residential / Single Family Residence |
| Year Built | 1979 |
| Lot Size | 2.00 AC / 87,120 SF |
| County | Lawrence County |
Location
Building Information for 538 Mt Nebo Road
Payment Calculator
$918 per month
30 year fixed, 6.11% Interest
$849
$69
$0
Know your buying power with a preapproval and custom rate in minutes
1Property Information for 538 Mt Nebo Road
- Directions: From Saint Joseph take 227 1.5 miles, turn right onto Mt. Nebo Rd. Look for Pointer signs !
- Elementary School: Leoma Elementary
- High School: Loretto High School
- Levels: Two
- Living Area Source: Assessor
- Living Area Units: Square Feet
- Middle Or Junior School: Leoma Elementary
- Mlg Can View: Yes
- Topography: Cleared,Level
- Garage Spaces: 2.00
- Parking Features: Garage Faces Rear
- Parking Total: 2.00
- Condo Coop Association YN: No
- Virtual Tour URL Unbranded: https://share.google/tGQhN4VctQTPZ2Awq
- Above Grade Finished Area Source: Assessor
- Above Grade Finished Area Units: Square Feet
- Below Grade Finished Area Source: Assessor
- Below Grade Finished Area Units: Square Feet
- Building Area Source: Assessor
- Building Area Units: Square Feet
- Flooring: Carpet, Wood, Laminate
- Lot Features: Cleared, Level
- Lot Size Source: Assessor
- Lot Size Units: Acres
- Parcel Number: 156 06202 000
- Lot Size Area: 2.0
- Construction Materials: Vinyl Siding
- Documents Count: 7
- New Construction: No
- Possession: Close Of Escrow
- Property Attached: No
- Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
- Senior Community: No
- Stories: 1
- Year Built Details: Existing
- Basement: Crawl Space, Other
- Cooling: Ceiling Fan(s), Central Air, Dual, Electric, Gas, Wall/Window Unit(s)
- Cooling: Yes
- Heating: Central, Dual, Electric, Natural Gas, Propane, Wall Furnace
- Heating: Yes
- Sewer: Septic Tank
- Utilities: Electricity Available, Natural Gas Available, Water Available, Cable Connected
- Water Source: Private
- Appliances: Oven, Cooktop
- Interior Features: Bookcases, Built-in Features, Ceiling Fan(s), Walk-In Closet(s), High Speed Internet
- Laundry Features: Washer Hookup
- Other Equipment: Satellite Dish
- Main Level Beds: 3
- Attached Garage: Yes
- Covered Spaces: 2.00
- Exterior Features: No Dock
- Fencing: Partial
- Foundation Details: Concrete Perimeter
- Garage: Yes
- Pool Private: No
- Roof: Shingle
- View YN: Yes
- Room Dimensions: 16x11
- Room Features: Walk-In Closet(s)
- Room Type: Bedroom 1
- Room Dimensions: 12x18
- Room Features: Bath
- Room Type: Bedroom 2
- Room Dimensions: 12x10
- Room Features: Walk-In Closet(s)
- Room Type: Bedroom 3
- Room Features: Primary Bedroom
- Room Type: Master Bathroom
- Room Dimensions: 15x14
- Room Features: Combination
- Room Type: Dining Room
- Room Dimensions: 15x14
- Room Type: Kitchen
- Room Dimensions: 21x17
- Room Features: Separate
- Room Type: Living Room
- Room Dimensions: 10x12
- Room Type: Other Room
Property History for 538 Mt Nebo Road
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Nov 26, 2025 | Price Change REALTRACS #3038974 | $205,900 | — |
| Nov 26, 2025 | Price Change REALTRACS #3038974 | $199,000 | — |
| Nov 22, 2025 | Price Change REALTRACS #3038974 | $208,000 | — |
| Nov 20, 2025 | Price Change REALTRACS #3038974 | $213,000 | — |
| Nov 13, 2025 | Price Change REALTRACS #3038974 | $215,000 | — |
| Nov 12, 2025 | Price Change REALTRACS #3038974 | $230,000 | — |
| Nov 12, 2025 | Listed (Active) REALTRACS #3038974 | $225,000 | — |
| Feb 8, 2019 | Closed (Public Record) Public Record #638929074 | $87,500 | +0.5% / yr |
| Feb 8, 2019 | Closed REALTRACS #1940832 | $87,500 | — |
| Dec 26, 2018 | Contract - Not Showing REALTRACS #1940832 | — | |
| Jun 15, 2018 | Listed (Active) REALTRACS #1940832 | $104,900 | — |
| Jun 8, 2018 | Withdrawn REALTRACS #1826383 | $107,900 | — |
| May 11, 2017 | Listed (Active) REALTRACS #1826383 | $119,000 | — |
| May 23, 2007 | Closed (Public Record) Public Record #219780039 | $83,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 11/26/2025 | Price Change REALTRACS #3038974 | $205,900 |
| 11/26/2025 | Price Change REALTRACS #3038974 | $199,000 |
| 11/22/2025 | Price Change REALTRACS #3038974 | $208,000 |
| 11/20/2025 | Price Change REALTRACS #3038974 | $213,000 |
| 11/13/2025 | Price Change REALTRACS #3038974 | $215,000 |
| 11/12/2025 | Price Change REALTRACS #3038974 | $230,000 |
| 11/12/2025 | Listed (Active) REALTRACS #3038974 | $225,000 |
| 02/08/2019 | Closed (Public Record) Public Record #638929074 | $87,500 +0.5% / yr |
| 02/08/2019 | Closed REALTRACS #1940832 | $87,500 |
| 12/26/2018 | Contract - Not Showing REALTRACS #1940832 | — |
| 06/15/2018 | Listed (Active) REALTRACS #1940832 | $104,900 |
| 06/08/2018 | Withdrawn REALTRACS #1826383 | $107,900 |
| 05/11/2017 | Listed (Active) REALTRACS #1826383 | $119,000 |
| 05/23/2007 | Closed (Public Record) Public Record #219780039 | $83,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 538 Mt Nebo Road
Schools near 538 Mt Nebo Road
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | PK to 5 | |||
| Public - | PK to 5 | |||
| Public - | PK to 8 |
Rating | School | Distance |
|---|---|---|
Lawrenceburg Public PublicPK to 5 | ||
David Crockett Elementary School PublicPK to 5 | ||
Ingram Sowell Elementary School PublicPK to 5 | ||
South Lawrence Elementary School PublicPK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Polk Property Real Estate, Shavonda M. Polk (931.292.0813)
Based on information submitted to the MLS GRID as of 03/19/2026 04:40 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.
