365 Magnolia Rd, Tiptonville, TN 38079: Affordable Reelfoot Lake Area Property With Renovation Potential

An Affordable Property Near Reelfoot Lake

For buyers searching for an affordable property near the water, 365 Magnolia Rd in Tiptonville, Tennessee, offers an interesting combination of location, lot size, and renovation potential.

The property is currently listed at $67,000 and features a two-bedroom, one-bathroom single-family residence with approximately 864 square feet of living space. Built in 1984, the ranch-style home sits on approximately 0.35 acres, with a lot measuring about 150 by 100 feet.

One of the property’s most notable characteristics is its location in the Sunkist Beach area near Reelfoot Lake. The listing describes the home as having a semi-water view and notes that a public boat ramp is approximately two minutes away.

The property is being sold as-is, making it particularly relevant to buyers who are comfortable evaluating a home that may require improvements. The listing specifically presents it as an investor opportunity, with the possibility of renovating the residence and adding value or potentially using it as a rental property.

However, buyers should perform their own inspection, research local regulations, and carefully calculate renovation and ownership costs before deciding whether the property fits their goals.

Property Overview

365 Magnolia Rd combines a relatively modest home size with a spacious residential lot.

Key Property Details

• Address: 365 Magnolia Rd, Tiptonville, TN 38079
• Asking price: $67,000
• Bedrooms: 2
• Bathrooms: 1 full bathroom
• Living area: Approximately 864 square feet
• Lot size: Approximately 0.35 acres
• Lot dimensions: Approximately 150 x 100 feet
• Year built: 1984
• Property type: Single-family residence
• Architectural style: Ranch
• Stories: 1
• Heating: Central
• Cooling: Central air
• Roof: Metal
• Exterior: Vinyl siding
• Basement: None
• Parking: Two attached garage spaces
• Water: Public
• Sewer: Septic tank
• Annual property tax: Approximately $709
• Tax assessed value: Approximately $84,200
• HOA: None listed
• Price per square foot: Approximately $78

The combination of a one-level home, attached two-car garage, spacious lot, and proximity to Reelfoot Lake makes this property different from many inexpensive homes that may have limited outdoor space.

A Spacious 0.35-Acre Lot

One of the first things that stands out about this property is the approximately 0.35-acre lot.

For a home with 864 square feet of living space, having a larger parcel can provide additional outdoor possibilities. Depending on local zoning and property restrictions, homeowners may have room for landscaping, outdoor seating, gardening, recreational activities, or other improvements.

The listing gives the lot dimensions as approximately 150 by 100 feet.

The additional land may also be attractive to buyers who value outdoor space or want more separation from neighboring properties.

However, buyers should not assume that every type of improvement or additional structure will automatically be permitted. Anyone considering additions, storage buildings, workshops, fencing, or other projects should verify local zoning regulations, setback requirements, utility locations, easements, and permit requirements before making plans.

Semi-Water View and Reelfoot Lake Location

The property’s location is arguably one of its most interesting features.

According to the listing, the home has a semi-water view and is located approximately two minutes from a public boat ramp.

That proximity may be particularly appealing to people who enjoy boating, fishing, kayaking, wildlife observation, or spending time around the lake.

Reelfoot Lake is known for its distinctive landscape and outdoor recreation opportunities, making the area attractive to visitors and residents who appreciate access to nature.

For a buyer considering this property as a primary residence, weekend home, or another permitted use, proximity to the lake could add lifestyle value.

Still, buyers should distinguish between being close to a lake and having direct waterfront access. The listing describes the property as having a semi-water view, rather than direct waterfront ownership.

The exact view, distance, access rights, and surrounding properties should therefore be confirmed during an in-person visit.

Only Two Minutes From a Public Boat Ramp

For outdoor enthusiasts, the property’s reported proximity to a public boat ramp may be an important advantage.

Having a boat launch nearby can reduce the time required to transport a boat or reach the water. It may also make the property attractive to people who spend weekends fishing or exploring the lake.

The listing specifically states that the public boat ramp is approximately two minutes away.

Prospective buyers should verify the actual travel time and location of the ramp and determine whether there are any launch fees, seasonal restrictions, parking limitations, or other rules.

These details can change over time, so current information should be obtained from the relevant local authority or facility.

A Compact 864-Square-Foot Home

The home contains approximately 864 square feet of living space.

While that is smaller than many modern family homes, a compact floor plan can also have advantages.

Smaller homes may require less energy for heating and cooling, can involve less interior maintenance, and may be easier to manage for buyers who prefer a simpler lifestyle.

The two-bedroom layout can work for a couple, a small household, a first-time homeowner, or a buyer seeking a smaller property near a recreational area.

The home includes one full bathroom, which is consistent with its compact size.

Because the property is being sold as-is, buyers should carefully inspect how efficiently the existing space is arranged and whether any interior improvements could make the home more functional.

Ranch-Style One-Level Living

The home is described as a ranch-style property with one story.

One-level living can be attractive to many buyers because bedrooms, living areas, the kitchen, and bathroom are all located on the same floor.

This can make everyday movement throughout the home easier and may be especially appealing to buyers who prefer not to use stairs.

The property does not have a basement.

While the absence of a basement eliminates the need for basement maintenance, it also means there is less below-grade storage.

The attached garage may help compensate by providing additional space for vehicles, equipment, tools, or other belongings, subject to how the garage is currently configured.

Attached Two-Car Garage

Another useful feature is the attached garage with two spaces.

For a property located near a recreational destination, garage space can be especially valuable.

In addition to parking vehicles, homeowners may use garage space for bicycles, fishing equipment, lawn equipment, tools, or other personal belongings.

The listing identifies the garage as facing the front of the property.

Buyers should inspect the garage doors, structure, electrical components, flooring, drainage, and any signs of moisture or deterioration during their inspection.

Metal Roof and Vinyl Siding

The property has a metal roof and vinyl siding.

Both materials can be relatively practical exterior choices, but their current condition should be evaluated independently.

A metal roof may have a long service life depending on its installation, materials, maintenance, and exposure to weather. However, the age of the roof is not specified in the listing.

Potential buyers should look for evidence of leaks, corrosion, damaged panels, loose fasteners, flashing problems, or previous repairs.

The vinyl siding should also be checked for cracks, warping, missing sections, water intrusion, and other damage.

Because the property is being sold as-is, identifying exterior maintenance requirements before purchase is particularly important.

Central Heating and Central Air

The home is listed with central heating and central air conditioning.

These systems can provide year-round comfort and are important features to evaluate when purchasing an older home.

Since the property was built in 1984, buyers should determine the age and condition of the HVAC equipment.

An inspection should ideally include an evaluation of whether the system is operating properly and whether major repairs or replacement may be needed in the future.

Energy efficiency can also be an important consideration.

A buyer planning renovations may want to investigate insulation, windows, ductwork, thermostat controls, and other factors that can affect heating and cooling costs.

Public Water and Septic Sewer

The property receives public water, while the sewer system is listed as a septic tank.

This combination is common in some residential and recreational areas, but the septic system deserves particular attention before purchasing.

Buyers should determine the age and condition of the septic system and whether it has been properly maintained.

A professional septic inspection may be appropriate, especially if there is limited information about the system’s history.

Potential issues involving septic tanks, drain fields, or wastewater systems can result in significant expenses, so understanding the system before closing can help a buyer make a more informed decision.

The Property Is Being Sold As-Is

The listing clearly states that the property is being sold as-is.

This means buyers should not expect the seller to complete repairs or improvements before closing unless a separate agreement states otherwise.

An as-is sale does not necessarily mean a property is in poor condition. It simply means the buyer needs to understand that the property is being offered in its current state.

For 365 Magnolia Rd, the listing specifically presents the home as an opportunity to renovate and add value.

That makes a thorough inspection especially important.

Potential buyers should consider evaluating the roof, foundation, electrical system, plumbing, HVAC, septic system, windows, doors, flooring, walls, ceilings, kitchen, bathroom, garage, and exterior.

Renovation Potential

The property’s current condition could provide an opportunity for personalization.

A buyer may choose to focus on cosmetic improvements first, such as:

• Interior painting
• New flooring
• Updated lighting
• Kitchen improvements
• Bathroom updates
• Cabinet refinishing or replacement
• New fixtures
• Exterior landscaping
• Garage organization
• Updated doors and trim

However, cosmetic improvements should come after determining whether major structural or mechanical problems exist.

If the inspection reveals significant repairs, those should be incorporated into the renovation plan before budgeting for aesthetic upgrades.

Could This Be a Rental Property?

The listing describes the property as potentially suitable for use as a rental.

However, potential rental use should be independently verified.

Before purchasing with the intention of renting the home, an investor should research local rental regulations, zoning requirements, insurance costs, property management expenses, taxes, maintenance costs, and market rents.

It is also important to determine whether there are any restrictions associated with the property, neighborhood, or local government that could affect rental activity.

A buyer should never assume that a property can be rented simply because the listing mentions rental potential.

The financial side should also be evaluated carefully. Expected rental income needs to be compared with all ongoing expenses and the initial renovation budget.

An Opportunity for an Owner-Occupant

Although the listing highlights investor potential, the property could also appeal to an owner-occupant.

Someone who wants a smaller home near Reelfoot Lake may appreciate the combination of a two-bedroom layout, one-level design, larger lot, garage, and recreational access.

For an owner-occupant, renovations can be tailored around personal needs rather than the preferences of a future tenant.

The home’s relatively compact size may also appeal to someone who wants to avoid the maintenance demands associated with a much larger residence.

Potential Second-Home Appeal

The location near Reelfoot Lake could also make the property worth considering as a recreational residence, subject to local rules and the buyer’s intended use.

A small home near a lake can provide a convenient base for weekends spent fishing, boating, hiking, wildlife viewing, or simply enjoying time outdoors.

The attached garage could also be useful for storing recreational equipment.

However, buyers considering the property as a second home should account for the costs of maintaining an additional residence, including utilities, insurance, taxes, repairs, lawn care, and general maintenance.

Understanding the $67,000 Asking Price

The asking price of $67,000 is one of the property’s most notable characteristics.

At approximately 864 square feet, the listing reports a price of roughly $78 per square foot.

However, price per square foot should not be the only metric used to evaluate a property.

The value of a home near a recreational area can be influenced by factors such as lot size, location, access to the lake, property condition, garage space, comparable sales, and local demand.

The property’s reported tax assessed value is approximately $84,200, while the annual property tax is listed at approximately $709.

Tax assessment values are not necessarily equivalent to current market value, so buyers should research recent comparable sales and seek professional advice when appropriate.

Budgeting for a Renovation

A buyer considering this property should create a complete renovation budget before making a purchase decision.

Potential costs may include:

Inspection Costs

Professional home, septic, HVAC, electrical, plumbing, and other inspections may be appropriate depending on the property’s condition.

Interior Renovation

Flooring, paint, kitchen improvements, bathroom updates, fixtures, and other interior work may be necessary.

Exterior Maintenance

Roofing, siding, drainage, landscaping, doors, windows, and other exterior components should be evaluated.

Mechanical Systems

Heating, air conditioning, plumbing, electrical systems, and water-related components should be inspected and budgeted accordingly.

Ongoing Ownership Costs

Taxes, insurance, utilities, maintenance, and unexpected repairs should be included in the long-term financial plan.

A contingency reserve is also useful because renovation projects frequently uncover issues that were not obvious during the initial viewing.

Questions Buyers Should Ask Before Closing

Before purchasing 365 Magnolia Rd, prospective buyers may want to investigate several important questions.

What is the current condition of the septic system?

How old are the HVAC systems?

When was the metal roof installed?

Are there any known foundation or structural issues?

Are there records of previous renovations?

What is the current condition of the plumbing and electrical systems?

Does the property have any restrictions related to short-term or long-term rentals?

Are there any easements affecting the lot?

What are the exact boundaries of the 0.35-acre parcel?

Is the semi-water view seasonal or year-round?

How close is the public boat ramp in actual driving distance?

Are there any flood-zone considerations?

These questions can help a buyer understand the property beyond the basic information included in an online listing.

Why Due Diligence Matters Near a Lake

Properties near lakes and other bodies of water can have unique considerations.

Buyers should investigate drainage, flood-zone information, insurance requirements, shoreline regulations, access rights, and other environmental or land-use considerations that may apply.

The fact that a home has a water view does not automatically mean it has direct access to the lake.

Similarly, proximity to a public boat ramp does not mean that the property includes private water access.

These distinctions should be clearly understood before purchase.

What Makes 365 Magnolia Rd Interesting?

Several characteristics make this property worth examining.

First, the asking price of $67,000 provides an affordable entry point compared with many conventional homes.

Second, the property sits on approximately 0.35 acres, providing a relatively spacious lot for a home of its size.

Third, the property is located near Reelfoot Lake and reportedly has a semi-water view.

Fourth, the public boat ramp is described as being approximately two minutes away.

Finally, the home includes an attached two-car garage, central heating, central air conditioning, public water, and a ranch-style one-level layout.

These features could make the property attractive to buyers who are willing to take on some renovation work.

Who Might Want to Consider This Property?

The property could potentially appeal to several types of buyers.

First-Time Homebuyers

A buyer looking for an affordable home may appreciate the relatively low asking price and manageable square footage.

Renovation Buyers

Someone comfortable with home improvements may see an opportunity to customize the residence.

Outdoor Enthusiasts

People who enjoy boating and fishing may find the property’s proximity to Reelfoot Lake particularly appealing.

Potential Investors

Investors may investigate whether renovation and rental use make financial sense under local regulations and current market conditions.

Buyers Seeking a Smaller Home

A compact two-bedroom ranch can be attractive to buyers who prefer a simpler property that requires less interior maintenance.

Final Thoughts on 365 Magnolia Rd

The property at 365 Magnolia Rd, Tiptonville, TN 38079, presents an interesting combination of affordability, outdoor space, and proximity to Reelfoot Lake.

Listed at $67,000, the home includes two bedrooms, one bathroom, and approximately 864 square feet of living space. It was built in 1984 and sits on approximately 0.35 acres.

The property’s semi-water view and reported proximity to a public boat ramp are likely to be among its biggest attractions, particularly for buyers who enjoy fishing, boating, and other outdoor activities.

The attached two-car garage is another practical feature, while central heating and central air conditioning provide useful year-round comfort.

At the same time, buyers should remember that the property is being sold as-is and is presented as a renovation opportunity.

The most important step for anyone considering the home is to determine exactly how much work is required. A professional inspection can help identify issues involving the roof, foundation, electrical system, plumbing, HVAC equipment, septic system, and other major components.

Buyers should also research local regulations and verify whether their intended use, including rental activity, is permitted.

The 0.35-acre lot provides additional possibilities, but zoning, setbacks, easements, and property boundaries should be confirmed before planning any new construction or major exterior improvements.

Ultimately, 365 Magnolia Rd may appeal to a buyer who values location, outdoor space, and renovation potential more than a fully updated interior.

For someone searching for an affordable home near Reelfoot Lake, the property offers an opportunity to create a personalized residence while enjoying convenient access to the surrounding recreational environment.

The key is to approach the purchase with realistic expectations. The $67,000 asking price is only the beginning of the financial calculation. Inspection costs, renovation expenses, taxes, insurance, utilities, maintenance, and any future improvements all need to be considered.

With thorough due diligence and a carefully planned budget, this Tiptonville property could be an interesting option for an owner-occupant, renovation-minded buyer, or investor who understands the local market and is prepared to take on the responsibilities that come with an as-is property.

 

From Zillow