1043 Patterson Street – Madisonville, TN 37354
ONLINE ONLY REAL ESTATE AUCTION
Spacious Basement Ranch with Incredible Potential on Nearly 1 Acre
BIDDING BEGINS TO CLOSE:
Friday, December 5th
at 12:00PM – Noon (ET)
OPEN HOUSE:
Wednesday, December 3rd
from 11:00AM – 1:00PM (ET)
This expansive ranch-style home sits on a generous 0.9+/- acre lot and offers approximately 1,800 square feet on the main level plus approximately 1,152 square feet in the basement. With solid bones and thoughtful layout, this fixer-upper presents an excellent opportunity to create your ideal home.
Main Level Features:
- Inviting living room
- Master bedroom with en-suite bathroom (requires finishing)
- Two additional guest bedrooms
- Guest bathroom with tile flooring
- Hardwood floors in hallway, dining room, kitchen, and family room
- Spacious kitchen with pantry
- Large family room featuring a fireplace and decorative beam ceiling, plus a door leading to the rear patio
- Approximately 288 SF unfinished addition with separate exterior entrance—perfect for in-law quarters
- Open approximately 200 SF covered area plumbed for bathroom—concrete pad needs to be poured and area needs to are enclosed
Basement Level Features:
- Large unfinished living area with exposed beam ceiling and two closets
- Recreation room with wet bar and pantry
- Open kitchen with island
- Oversized laundry room/bathroom with walk-in tile shower
- Dining room
- Bedroom
- Office
- Storage/mechanical closet
Exterior Amenities:
- Large attached 2-car carport
- Detached storage building
- Generous lot with plenty of room for outdoor enjoyment
This property offers tremendous square footage and flexibility for multi-generational living or those seeking a project with serious upside potential.
SALE CONDUCTED IN CONJUNCTION WITH
Ronnie Colyer Auction & Realty | 423-506-0990
Monroe County Parcel / Tax ID:
067 166.00
Yearly Property Taxes:
$1,145.51 – Total Yearly Taxes | $323.58 – City of Madisonville and $821.93 – Monroe County
Lot Size:
0.90+/- acre | 132 x 318.5 IRR
Year Built:
2004
Real Estate Terms:
Powell Auction will email winning bidder your contract. The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. US currency cash or approved check. The balance is to be paid in full at the deed closing. By bidding you are entering into a binding agreement.
Reliance Title will be conducting the closing. Current taxes, will be prorated at the date of closing, unless otherwise specified. Seller to provide deed. Buyer is responsible for title opinion, title insurance & recording fees. Buyer is responsible for HOA requirements, transfer fees, membership fees, if applicable. Title company closing cost to be split between buyer & seller. Buyer is to obtain his/her own financing. Closing to occur on or before January 5th, 2026.
The contract will not be contingent upon financing, inspections or any other contingencies.
Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s).
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. Tennessee Residential Property Exemption and Lead-Based Paint Waiver will be part of the sales contract. Any remaining personal property will convey at closing. **Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time.**
Thank you for participating in this Powell Auction & Realty LLC Online Auction.
It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding. Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid sniping. Powell Auction & Realty LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed, after the auction has ended. Payment must be made within 48 Hrs after being contacted by Powell Auction & Realty LLC. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed or implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. We do not approve any international bidding. It is up to the auctioneer to approve or disapprove bidders.
New Bidders, please Pre-Register, we will have to approve you to Bid!
