Your next 1031 Exchange

32 acres in Northeast Tennessee

2 existing homes

9 additional surveyed building lots
invest, develop & profit

Exchange the Ordinary for the Exceptional

With multiple income streams and unmatched natural surroundings, Paint Mountain Retreat is a standout option for a strategic 1031 exchange.

This 32-acre estate in desirable Northeast Tennessee includes a stunning modern home (turnkey available), a 3,200sf conditioned barndominium start ready for residential conversion, and nine surveyed and perked lots with access to the National Forest.

side view of house with solar array on roof surrounded by green mountains<br />

huge red metal barn with white roof and outbuildings sits on a grassy knoll in front of green mountain range

aerial photo of lushly green mountain valley with a large barn with white roof in the foreground

$899,000

Ridgetop House

27 Acres

Walk into National Forest

$585,000

3,200sf Barndo

5 Acres

Pasture & Outbuildings

$1,299,000

House + Barndo

32 Acres

9 Additional Building Sites

open floorplan bright kitchen and living room with huge windows and tall ceilings

golden bedroom with mirrors reflecting sunshine<br />

The House

1098 Paint Mountain Rd, Greeneville, TN

This mountaintop vacation home was built for relaxation and family. With its open floor plan, high ceilings, and expansive windows, it offers panoramic views of the surrounding Blue Ridge Mountains. Move-in ready, in a picture-postcard location, the home presents an immediate opportunity for short-term rental income. Comparable STR properties in nearby Gatlinburg command average nightly rates of $500+. Greeneville’s STR market has very few luxury options available for visitors. Listed on AirBnB or VRBO, this property would be a unique and outstanding offering at $250/night or higher.

But don’t just profit from your investment. Enjoy it! Under IRS 1031 exchange rules, owners can still enjoy personal use of the property, provided it doesn’t exceed 14 days per year or 10% of the total days rented, whichever is greater. Furthermore, according to IRS’s safe harbor provisions outlined in Revenue Procedure 2008-16, a taxpayer can rent the Replacement Property for two years after the exchange and then convert it into a personal use property with the certainty of the “Safe Harbor” provided by the Revenue procedure. The Revenue Procedure 2008-16 provides a way to buy a future primary residence or second home as an exit strategy from investment real estate. If you’ve ever dreamed of a secluded getaway in the mountains, this is your chance. Vacation here now. Retire here later.

bright red barndominium compound is flanked on both sides by matching outbuildings. There is a driveway in front and mountains behind

postcard perfect aerial photo of a long mountain valley with a large red barndominium nestled on a hilltop

The Barndominium

5635 Houston Valley Rd, Greeneville, TN

The 3,200sf barndominium start on an adjacent, surveyed 5 acre parcel is another opportunity for excellent returns. Built with open-span construction, 12-foot ceilings, and huge windows, the structure offers an ideal canvas for residential conversion. With no load-bearing interior walls, the space can accommodate virtually any custom floorplan. Comprehensive site work, framing, siding, insulation, utilities, mechanicals, and a finished full bath are already in place, providing a solid, permitted and inspected framework that just needs interior finishes. Depending on the level of finish, completing the interior is estimated to cost between $80,000 and $150,000, far less than building from the ground up.

This house has direct road access, pastoral views, high-speed internet and city water. In today’s East Tennessee market, high-quality new construction is consistently valued at or above $300 per square foot. That puts the barndominium’s after-repair value (ARV) comfortably in the $900,000 range. Whether developed for resale or rental, this barndominium offers a rare opportunity to create equity with a custom a home that blends mountain living with modern versatility.

aerial photo of bright red barn in the foreground and a contemporary house on top of a ridge

The Land

32 Acres |9 surveyed and perked building sites

The entire 32-acre property includes nine surveyed and perked one acre (and larger) building lots, each with excellent sun exposure, easy road access, and buildable topography. Six parcels are one acre and front Houston Valley Rd. One is 2.4 acres with a Houston Valley Rd entrance. And two are approximately 4 acres each with frontage on Paint Mountain Rd with direct access to the National Forest. The privacy of the land and proximity to town and attractions make this property uniquely suited to a variety of development paths. All utilities are at the road.

One option is to develop the lots as a high-end mountain community. With the right vision, these sites could be home to a collection of custom built homes creating an exclusive gated enclave marketed to retirees, vacationers, or remote workers seeking a quiet foothold in the Blue Ridge. Or follow the market trends and build a tiny-home community. Shared amenities such as a trail network, garden space, or a common pavilion could add appeal and market value while preserving the natural character of the land.

Another possibility is to develop some of the parcels as a luxury glamping or eco-tourism site. The proximity to the National Forest, Paint Creek Corridor, and the French Broad River, combined with excellent road access makes the property ideal for a nature-based business. Prefab cabins, yurts, or modern A-frame structures could be placed to maximize privacy and views. Each site could offer direct trail access, fire pits, and stargazing decks. Demand for outdoor stays in this region is growing steadily, especially for offerings that balance nature with comfort and design. The land has no deeded restrictions.

Of course, the most straightforward path to ROI may be selling the lots individually. Surveys and perc testing are already complete, making these ready-to-build lots especially attractive to buyers. Whether marketed to individuals seeking a private homesite, to spec builders, or to buyers looking for a second home near Asheville or the Smoky Mountains, each parcel holds strong standalone value. In the Greeneville area, one-acre building site comps average around $50,000.

These ready-to-develop lots can add long-term value and diversify your income streams. With the Northeast Tennessee region continuing to grow and out-of-state buyers seeking space and proximity to nature, the timing couldn’t be better.

survey map overlaid on top of satellite image

A 1031 Exchange into Tennessee? Smart Move

Considering a 1031 exchange into Tennessee? The advantages go well beyond the landscape. This state offers a combination of financial, legal, and lifestyle benefits that make it an ideal destination for reinvesting capital.

Tennessee is one of the few states with no income tax on wages or capital gains. If you’re exchanging property from a high-tax state this creates an immediate financial upside. Not only do you defer capital gains taxes via the 1031 exchange, but your rental income and long-term appreciation are also sheltered from state-level taxation, dramatically improving net returns over time. It’s true financial wizardry.

contemporary house with slanted roof and solar panels sits in front of a big mountain range<br />

Property taxes in Tennessee are low. Greene County, where Paint Mountain Retreat is located, has an effective property tax rate of around 0.46%, a fraction of what’s typical in many urban markets. This translates into stronger annual cash flow for both short and long-term rental strategies.

Though Northeast Tennessee has been experiencing a boom in inbound migration, entry costs in this region remain modest. The 32 acres, home and workshop are priced well below what similar acreage or finished homes would command in other states. This creates a rare investment spread between cost and potential return.

Drone photograph of contemporary house in the National Forest with rooftop solar panels. House is in a clearing surrounded by majestic Blue Ridge Mountains

Tennessee is also known for being landlord-friendly and regulatory-light, which means fewer barriers to renting or developing compared to more restrictive municipalities. Greene County offers a welcoming and flexible legal environment.

The short-term rental market in this area is strong. Greeneville draws a steady stream of visitors thanks to its prime location at the foothills of the Blue Ridge Mountains. It offers easy access to the Blue Ridge Parkway and the Appalachian Trail. It’s less than an hour from Asheville, NC and Knoxville, TN. It welcomes thousands of fans who come here for the Bristol Motor Speedway and University of Tennessee football. It is a quick, scenic drive from Gatlinburg and the Great Smoky Mountains National Park, one of the most visited natural attractions in the U.S. Comparable STR’s in Gatlinburg command an average rate of $500 on AirBnB. This strategic location makes Paint Mountain Retreat a compelling base for regional exploration—and a strong candidate for STR success.

thousands of fans attend UT football game dressed in orange and white<br />

modern two level house with double slant roof, walls of windows and wraparound deck

Paint Mountain Retreat is an excellent investment. And it’s also one that an owner can truly enjoy. Under 1031 exchange rules, personal use is permitted so long as it is limited to 14 days per year (or 10% of the total days rented), and the property is otherwise used as an income-producing rental. Vacation in the mountains while maintaining compliance with IRS guidelines.

In short, a 1031 exchange into this property is not just a investment strategy, it’s a chance to invest in a place with real returns, tangible beauty, and lasting value.

Angled shot of the front and side of a contemporary house in the mountains shows a large wraparound deck and front porch

Side front view of contemporary mountaintop home shows front porch with Japanese maple and two rocking chairs with mountains in the background

stunning fall colors cover the mountains behind a modern house set on a ridgetop

Contemporary house has a unique Mondrian-like siding pattern laid out in an irregular grid and painted soft natural colors

natural light streams effortlessly through the open floorplan of the great room that features 14' ceilings and hardwood floors

14 foot ceilings hold great picture windows that flood a glossy white kitchen with a massive green island

the rotating wood stove is the centerpiece of the dining area that flows out of the great room

Bright living area with floor-to-ceiling windows and rotating wood stove centerpiece

Set of couches and recliners in the center of a large open concept great room facing a 14' tall wall of huge windows

Sunlit primary bedroom with hardwood floors, ceiling fan and modern wall mirrors that reflect the view from the outside

Sunlit home office has huge window and incredible views of rolling mountain ranges

Ensuite bathroom has soothing blue walls and a glossy white vanity and a shelf with artwork

a vivid blue tiled shower with double rainfall shower heads and pebble tiled floor

Queen bed, a leather recliner in an accent colored reading nook and gauzy curtains make this guest bedroom inviting

modern guest bathroom with glass shower, contemporary apron sink and wood cabinets. Laundry is in this room as well

Wide open lower level features multiple large windows and 10 foot wide glass French doors

massive lower level with 10 foot poured concrete walls and polished concrete floor

Golden hour image of deck overlooking an endless mountain range

architecturally stunning contemporary angled house with two walls of solid windows and glass doorways opening onto an expansive deck

closeup of adirondack chairs on a light tan deck overlooking view of blue ridge skyline

fancy modern shed with Mondrian-style Hardie siding sits at the end of a light grey walkway

Rolling mountain range is the background for a 40x40 fenced dog playground and fancy modern shed

bright red metal barndominium sits on a green lawn with a forest behind it

photo of backside of modern farmhouse style barndominium shows 80 foot long building and two 30 foot long outbuildings set in front of a wooded hill

bright red barn with a white roof sits on a green ridge

sunlight streams through large windows in a spacious mid century modern styled office space

giant space features a wood burning stove and stack of logs in the middle, with many windows, a roll-up door and polished tan floors

interior photo of large open room with 12' tall ceilings, natural wood trim and polished tan floors

weight lifting cage and pull-up bar in the foreground, with an eliptical machine

a pastoral overhead photo of a modern red farmhouse with multiple porches, several outbuildings, and a circular driveway that leads to the pasture

dramatic overhead shot of twisting valley surrounded by majestic, tree-covered mountains. In the foreground is the bright white roofline of a large barndominium and there are dramatic clouds in the sky

Overhead photograph of contemporary mountain house shows the solar panels on house roof as well as long range views of mountains and farmland

a grand contemporary home sits squarely in the center of a large grassy lawn surrounded by forested mountains

Overhead drone photograph facing southwest, showing the glass covered wall of the north face of the house, mountains and forest surrounding the large yard

very high altitude overhead photoraph shows a house with solar panels in a large clearing and a red barn with a white roof

dramatic gold and orange sunset behind the mountains taken from the deck

Located in Greene County, in Northeast Tennessee, Paint Mountain Retreat offers a rare combination: the serenity of your own mountaintop hideaway with the convenience of town just minutes away.

a graphic design showing a map of the eastern united states showing distances in miles from several major cities and their relation to Greeneville, TN