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Unique and desirable find in a peaceful country setting on over 2 1/4 level acres with a large old rustic barn full of character! This recently remodeled ranch home offers a taditional style floorplan featuring 3 bedrooms, 2 baths, plus a beautiful sunroom addition with 2 skylights & ceramic tile flooring! Separate finished laundry conveniently adjoins sunroom. Seemingly endless updates include luxury vinyl plank flooring, insulated vinyl clad windows, Textured walls that add a modern look, new trim, new lighting fixtures including recessed ceiling lighting. Bathrooms have been remodeled with new fixtures! Nice stainless appliances including the refrigerator! Wow! Much of the plumbing & electrical was also updated per the former MLS information, along with a new Trane HVAC unit. Newer dimensional shingle roof & vinyl siding! If you've ever dreamed of owning your own mini-farm, this could be that right find! An excellent value here, move-in-ready for a fortunate new owner!

Highlights

  • Residential
  • Single Family Residence
  • Built in 1967
  • 2.28 Acre Lot
  • 6 days on Market

  • Bedrooms
    3
  • Bathrooms
    2
  • Year Built
    1967
  • Architectural Style
    Traditional
  • Construction Materials
    Frame, Vinyl Siding
  • Parking Features
    Other
  • Living Area
    1395.0
  • Interior Features
    Walk-In Closet(s), Master Downstairs
  • Appliances
    Dishwasher, Refrigerator, Range, Tankless Water Heater
  • Flooring
    Tile
  • Security Features
    Smoke Detector(s)
  • Cooling
    Central Air
  • Heating
    Electric, Heat Pump, Central
  • Basement
    Crawl Space

  • Acres
    2.28
  • Lot Features
    Level
  • View
    Trees/Woods
  • Water
    Public

  • Area
    Union County - 25
  • County
    Union
  • City
    Luttrell
  • Zip Code
    37779
  • High School
    Union County
  • Middle School
    H Maynard
  • Elementary School
    Luttrell

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Frequently Asked Questions

How do I schedule a tour of 501 Wallace Rd?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 501 Wallace Rd.

They know residentials in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 501 Wallace Rd?

Click Ask a Question to talk with our team. You already know it is a 3 bed, 2 bath, listed for $274,900. We can talk through recent upgrades, potential seller motivation, how this single family residence compares to others in Luttrell, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 501 Wallace Rd?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 501 Wallace Rd at around $1,564. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 501 Wallace Rd?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Union County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 501 Wallace Rd?

In most cases, yes. Whether 501 Wallace Rd is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Luttrell's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 501 Wallace Rd?

We can handle that for you. Our preferred local agent specializes in residentials in Luttrell and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $274,900 with 1,395 sqft of space—that comes out to approximately $197 per square foot.

How long has this property been on the market?

501 Wallace Rd was listed on November 08, 2026, which means it's been on the market for 6 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1967, making it approximately 59 years old.

What is the lot size of this property?

501 Wallace Rd sits on a 2.28-acre lot, which is 99,317 square feet.

What schools are assigned to this property?

Based on MLS info, this home is zoned for:

  • Elementary: Luttrell
  • Middle: H Maynard
  • High: Union County

Want to see how these schools compare? Check out our Union County School Guide to see ratings, reviews, and more for the schools in the area.

Is 501 Wallace Rd still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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Listing information 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. Information deemed reliable but not guaranteed by the MLS. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Copyright 2026, East Tennessee REALTORS MLS. All rights reserved.

Last Updated: November 14, 2026 at 09:56AM | Source: East Tennessee REALTORS MLS | MLS#: 1361609