118 W Melbourne Rd, Oak Ridge, TN 37830
(MLS # 1324712)

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PRICE $645,000 BEDS 6 BATHS 5 HOME SIZE 3,890 sqft LOT SIZE 16,553 sqft Request More Info Schedule a Showing

Nearly 4,000 sq ft of flexible living space with a private lower-level suite and strong income potential -- just ~12 minutes from ORNL. Spacious 3,890 sq ft home on a quiet cul-de-sac in one of Oak Ridge's most desirable, established neighborhoods. The home features a brand-new roof (September 2025) with lifetime architectural shingles, along with hardwood floors, granite flooring in the foyer, many replaced windows, and a major renovation completed in 2009. The main floor includes a living room with fireplace, dining area, kitchen, and a convenient half bath. The upper level offers four large bedrooms and three full bathrooms. A fourth level provides an extra-large playroom or open office space, ideal for remote work, creative use, or a private retreat. The lower level includes a finished living area with a full bathroom, utility room, and two bedrooms. Across the home, all bedrooms are comfortably sized and fully usable. The smallest bedroom exceeds 10 × 10, while several rooms approach or exceed ~250 sq ft (see floor plans), allowing space for full bedroom sets, dedicated work areas, and hobbies without compromise. Separate income/guest opportunity: the lower-level layout allows for a potential 2-bedroom executive-style suite with private living space. It benefits from a separate entrance and enhanced sound separation from the main living areas. Given the home's proximity to ORNL, the space is well positioned for short- or mid-term rental use, with typical Oak Ridge demand supporting approximately $1,500-$2,500/month at moderate (~50%) occupancy, depending on furnishing and management. Additional features include covered decks on both main and lower levels, a 2-car attached garage, and a quiet, low-traffic setting. Location: - ORNL: ~12 minutes - Schools, Oak Ridge Mall, and restaurants: ~5-10 minutes Homes of similar size in Oak Ridge can approach $700K-$800K+ when fully modernized, making this a compelling opportunity to realize long-term value. Seller is offering a $15,000 credit at closing, which can be used toward interest rate reduction, closing costs, or to preserve buyer funds for upgrades, furnishings, or other priorities.