121 Purple Iris Place
About This Property
This cleared lot in Tennessee National is just waiting for your dream basement home! Nestled in a top-tier gated community with golf, a marina, and endless outdoor fun. Peaceful vibes, gorgeous surroundings, and quick interstate access makes this one a gem!
Tennessee National is a luxurious, amenity-packed community designed for comfort, recreation, and connection. At the heart of the neighborhood is the top-10-rated Greg Norman Signature Golf Course (Golf Digest), offering a challenging and scenic experience for golfers. Residents enjoy 24-hour guarded gate service, a full marina, and 3.5 miles of lakefront along the Tennessee River-perfect for boating, fishing, and waterfront exploring.
The brand-new clubhouse provides a beautiful gathering space, while the outdoor saloon, saltwater pool & hot tub, and vibrant social calendar keep neighbors connected. For even more fun, the community offers pickleball courts, TopTracer bays, and scenic trails filled with wildlife and mountain views. A community garden adds a charming, hands-on space for residents who love fresh produce, flowers, and shared outdoor projects.
Concerts and events are hosted at the pavilion, adding to the strong social scene. Plus, the community is conveniently located near Interstate 75, just 20 minutes to Turkey Creek for retail, dining, and medical services, and 40 minutes to McGhee Tyson Airport.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 27, 2026 | Listed by Realty One Group Ascend | $95,000 | |
| Listed by Realty One Group Ascend | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017