Real Estate Investment Properties for Sale in Gray, TN

Looking for investment property in Gray, TN with high ROI ?

Explore a variety of short-term homes & houses in Gray, TN. Invest wisely with VRBO & Gray, TN Airbnb properties available for purchase. Find your ideal investment property among our curated listings for a rewarding real estate venture.

Investment Property for Sale in Gray, TN

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PROPERTY	DETAILS	SALE PRICE	INVESTMENT PERFORMANCE
123 Mesa Drive #123 Gray, TN THERE IS A 2ND BEDROOM/OFFICE. Don't miss this single level end unit. It has a spacious ki...	1 beds \| 1 baths \| 780 sq.ft.	$180,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.99% Airbnb Rental Income: $null Traditional Rental Income: $1282 Airbnb ROI: N/A Traditional ROI: 4.99%
1311 Little Shadden Way Gray, TN Great single level home on partially finished basement with over 3,000 finished sq ft, 3 b...	4 beds \| 3 baths \| 4,354 sq.ft.	$747,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.08% Airbnb Rental Income: $null Traditional Rental Income: $2750 Airbnb ROI: N/A Traditional ROI: 2.08%
178 Greyland Drive Gray, TN Multiple Offers! Please submit any offers by Sunday, August 10 by 2:00 pm, and allow a re...	3 beds \| 2 baths \| 2,079 sq.ft.	$325,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.43% Airbnb Rental Income: $null Traditional Rental Income: $1969 Airbnb ROI: N/A Traditional ROI: 4.43%
599 Free Hill Road Gray, TN GORGEOUS 3 BEDROOM, 2 BATH HOME IN HIGHLY DESIRABLE COMMUNITY OF GRAY!! Convenient to John...	4 beds \| 2 baths \| 3,029 sq.ft.	$550,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.83% Airbnb Rental Income: $null Traditional Rental Income: $2424 Airbnb ROI: N/A Traditional ROI: 2.83%
130 Cindy Anne Drive Gray, TN Welcome to this inviting 3BD/2.5BA home tucked away in a quiet subdivision, offering peace...	3 beds \| 3 baths \| 2,992 sq.ft.	$419,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.6% Airbnb Rental Income: $null Traditional Rental Income: $2404 Airbnb ROI: N/A Traditional ROI: 4.6%
1132 Panoramic Vista Gray, TN Gorgeous Custom-Built Home with Mountain Views & Over 5,000 Total Sq Ft! 4 Beds \| 3 Baths...	4 beds \| 4 baths \| 5,419 sq.ft.	$830,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.61% Airbnb Rental Income: $null Traditional Rental Income: $3446 Airbnb ROI: N/A Traditional ROI: 2.61%
118 Gunners Way Gray, TN This newer construction, one-owner home offers the perfect blend of luxury and ease in the...	3 beds \| 2 baths \| 1,652 sq.ft.	$425,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.73% Airbnb Rental Income: $null Traditional Rental Income: $2021 Airbnb ROI: N/A Traditional ROI: 2.73%
355 Wiltshire Drive Gray, TN Beautifully renovated and in a highly sought-after neighborhood with no city taxes, this f...	4 beds \| 2 baths \| 2,833 sq.ft.	$569,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.88% Airbnb Rental Income: $null Traditional Rental Income: $2528 Airbnb ROI: N/A Traditional ROI: 2.88%
280 Possum Hollow Road Gray, TN MOTIVATED SELLER! NOW $499,900! If you've been dreaming of a little more space, privacy, ...	3 beds \| 3 baths \| 2,381 sq.ft.	$495,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.36% Airbnb Rental Income: $null Traditional Rental Income: $2436 Airbnb ROI: N/A Traditional ROI: 3.36%
587 Free Hill Road Gray, TN Gracefully appointed 4 Bedrooms, 3.5 Baths 3-Car Garage & wkshop, No City Taxes. Perfectly...	4 beds \| 4 baths \| 4,036 sq.ft.	$549,500	Airbnb cash on cash: N/A Traditional cash on cash: 4.7% Airbnb Rental Income: $null Traditional Rental Income: $3380 Airbnb ROI: N/A Traditional ROI: 4.7%
103 Hallbrook Drive #103 Gray, TN Motivated Seller!! Bring us your offers! Welcome home to this beautifully maintained and ...	2 beds \| 2 baths \| 2,208 sq.ft.	$230,000	Airbnb cash on cash: N/A Traditional cash on cash: 7.6% Airbnb Rental Income: $null Traditional Rental Income: $2279 Airbnb ROI: N/A Traditional ROI: 7.6%
160 Picadilly Lane Gray, TN This is your chance to own a beautiful move in ready home, in a convenient peaceful neighb...	3 beds \| 2 baths \| 2,215 sq.ft.	$399,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.37% Airbnb Rental Income: $null Traditional Rental Income: $2370 Airbnb ROI: N/A Traditional ROI: 4.37%
524 Boring Chapel Road Gray, TN This updated ranch near Boone Lake in the middle of the Tri-Cities has so much to offer! M...	3 beds \| 1 baths \| 1,064 sq.ft.	$285,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.94% Airbnb Rental Income: $null Traditional Rental Income: $1341 Airbnb ROI: N/A Traditional ROI: 2.94%
568 Gray Station Road #10 Gray, TN Adorable end unit 2BD/1.5BA condo in the heart of Gray! Luxury vinyl throughout the main l...	2 beds \| 2 baths \| 1,024 sq.ft.	$165,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.88% Airbnb Rental Income: $null Traditional Rental Income: $1436 Airbnb ROI: N/A Traditional ROI: 5.88%
473 Oak Grove Road Gray, TN Taken off the market so the seller could recover from surgery and do some repairs. Repairs...	3 beds \| 2 baths \| 1,700 sq.ft.	$295,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.27% Airbnb Rental Income: $null Traditional Rental Income: $1641 Airbnb ROI: N/A Traditional ROI: 4.27%
117 Trail Lane Gray, TN The view here is insane! Wake up every morning with a view of Boone Lake! With a storage s...	3 beds \| 2 baths \| 1,800 sq.ft.	$325,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.66% Airbnb Rental Income: $null Traditional Rental Income: $1733 Airbnb ROI: N/A Traditional ROI: 3.66%
117 Lakeside Drive Gray, TN LAKEFRONT PROPERTY / PRIVATE which includes lake access. 6 LOTS ARE INCLUDED. Welcome to y...	3 beds \| 3 baths \| 5,100 sq.ft.	$825,000	Airbnb cash on cash: N/A Traditional cash on cash: 1.5% Airbnb Rental Income: $null Traditional Rental Income: $2559 Airbnb ROI: N/A Traditional ROI: 1.5%
196 Furches Drive Gray, TN - LAKEFRONT - PRIVATE DOCK - INCOME PRODUCING POTENTIAL If you're looking for the ...	4 beds \| 3 baths \| 2,720 sq.ft.	$649,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.71% Airbnb Rental Income: $null Traditional Rental Income: $2772 Airbnb ROI: N/A Traditional ROI: 2.71%
291 Piper Glen Gray, TN Discover comfortable living in this charming 2 bedroom, 2 bath home. Perfect for those loo...	2 beds \| 2 baths \| 2,099 sq.ft.	$385,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.1% Airbnb Rental Income: $null Traditional Rental Income: $2324 Airbnb ROI: N/A Traditional ROI: 4.1%
303 Piper Glen Gray, TN Discover comfortable living in this charming 2 bedroom, 2 bath home. Perfect for those loo...	2 beds \| 2 baths \| 2,099 sq.ft.	$385,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.1% Airbnb Rental Income: $null Traditional Rental Income: $2324 Airbnb ROI: N/A Traditional ROI: 4.1%
323 Walkers Bend Road Gray, TN Beautiful Home in Walkers Bend Subdivision - Gray, TN- Welcome to this inviting 4-bedro...	4 beds \| 3 baths \| 3,116 sq.ft.	$475,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.52% Airbnb Rental Income: $null Traditional Rental Income: $2659 Airbnb ROI: N/A Traditional ROI: 4.52%
16 Chaucer Court Gray, TN Escape to a private paradise in this stunning 5-bedroom, 3-full-bathroom retreat! The mast...	5 beds \| 3 baths \| 4,740 sq.ft.	$640,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.42% Airbnb Rental Income: $null Traditional Rental Income: $2893 Airbnb ROI: N/A Traditional ROI: 3.42%
207 Bridgewater Court #207 Gray, TN Welcome to Bridgewater. This well-maintained home has lots to offer. Sporting 2 bedroom, 2...	2 beds \| 2 baths \| 1,196 sq.ft.	$275,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.23% Airbnb Rental Income: $null Traditional Rental Income: $1753 Airbnb ROI: N/A Traditional ROI: 4.23%
408 Stratford Court #408 Gray, TN Welcome to 408 Stratford Court, a delightful townhome nestled in the heart of Gray, Tennes...	2 beds \| 2 baths \| 1,872 sq.ft.	$219,900	Airbnb cash on cash: N/A Traditional cash on cash: 8.05% Airbnb Rental Income: $null Traditional Rental Income: $2258 Airbnb ROI: N/A Traditional ROI: 8.05%
171 Ramsey Drive Gray, TN One perfect word to describe 171 Ramsey Drive? P_O_T_E_N_T_I_A_L!!! Seize the opportunity...	3 beds \| 2 baths \| 2,690 sq.ft.	$449,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.8% Airbnb Rental Income: $null Traditional Rental Income: $2302 Airbnb ROI: N/A Traditional ROI: 3.8%
398 Hales Chapel Road Gray, TN BACK ON MARKET! BUYERS FAILED TO PERFORM THROUGH FINANCING DECLINED. Exciting updates,...	3 beds \| 3 baths \| 3,541 sq.ft.	$399,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.46% Airbnb Rental Income: $null Traditional Rental Income: $2240 Airbnb ROI: N/A Traditional ROI: 4.46%
137 Austin Ridge Court Gray, TN Stunning 3-Bedroom Home with Bonus Room & Oversized Garages - No City Taxes! This beau...	3 beds \| 4 baths \| 3,765 sq.ft.	$539,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.99% Airbnb Rental Income: $null Traditional Rental Income: $2795 Airbnb ROI: N/A Traditional ROI: 3.99%
662 Douglas Shed Road Gray, TN GREAT HOME IN THE MUCH DESIRED AND GROWING GRAY COMMUNITY. OLDER HOME BUILT WHEN YOU COU...	4 beds \| 2 baths \| 3,660 sq.ft.	$499,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.13% Airbnb Rental Income: $null Traditional Rental Income: $2156 Airbnb ROI: N/A Traditional ROI: 3.13%
1206 Gray Station Road Gray, TN Back on the MarketâThrough No Fault of the Home The buyer's contingency fell throughâ...	3 beds \| 2 baths \| 2,900 sq.ft.	$400,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.59% Airbnb Rental Income: $null Traditional Rental Income: $2307 Airbnb ROI: N/A Traditional ROI: 4.59%
312 Cookie Loop Gray, TN The Green floorplan available at Keebler Meadows in Gray. This open concept two-story home...	4 beds \| 3 baths \| 2,890 sq.ft.	$419,875	Airbnb cash on cash: N/A Traditional cash on cash: 5.18% Airbnb Rental Income: $null Traditional Rental Income: $2697 Airbnb ROI: N/A Traditional ROI: 5.18%
310 Cookie Loop Gray, TN The Cali floorplan is available in the Keebler Meadows in Gray, TN. This single-story layo...	4 beds \| 2 baths \| 1,774 sq.ft.	$364,175	Airbnb cash on cash: N/A Traditional cash on cash: 4.58% Airbnb Rental Income: $null Traditional Rental Income: $2160 Airbnb ROI: N/A Traditional ROI: 4.58%
1208 Old Stage Road Gray, TN Welcome to this stunning 2-bedroom, 2-bathroom home nestled on over 9 acres of picturesque...	2 beds \| 2 baths \| 3,454 sq.ft.	$514,800	Airbnb cash on cash: N/A Traditional cash on cash: 1.97% Airbnb Rental Income: $null Traditional Rental Income: $1682 Airbnb ROI: N/A Traditional ROI: 1.97%
108 Ridgetop Drive Drive Gray, TN Looking for that community that has a club house, large swimming pool, pickleball and tenn...	4 beds \| 6 baths \| 5,437 sq.ft.	$835,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.36% Airbnb Rental Income: $null Traditional Rental Income: $6183 Airbnb ROI: N/A Traditional ROI: 6.36%
305 Cookie Loop Gray, TN The Green floorplan available at Keebler Meadows in Gray. This open concept two-story home...	4 beds \| 3 baths \| 2,890 sq.ft.	$418,875	Airbnb cash on cash: N/A Traditional cash on cash: 5.3% Airbnb Rental Income: $null Traditional Rental Income: $2740 Airbnb ROI: N/A Traditional ROI: 5.3%
307 Cookie Loop Gray, TN The Cali floorplan is available in the Keebler Meadows in Gray, TN. This single-story layo...	4 beds \| 2 baths \| 1,774 sq.ft.	$368,175	Airbnb cash on cash: N/A Traditional cash on cash: 4.5% Airbnb Rental Income: $null Traditional Rental Income: $2152 Airbnb ROI: N/A Traditional ROI: 4.5%
309 Cookie Loop Gray, TN The Hanover floorplan available at Keebler Meadows in Gray, TN is one of our most popular ...	4 beds \| 3 baths \| 2,804 sq.ft.	$419,755	Airbnb cash on cash: N/A Traditional cash on cash: 5.29% Airbnb Rental Income: $null Traditional Rental Income: $2740 Airbnb ROI: N/A Traditional ROI: 5.29%
763 Hales Chapel Road Gray, TN Tucked just outside of town in the quiet Shadden Springs neighborhood, this 4-bedroom, 3-b...	4 beds \| 3 baths \| 4,180 sq.ft.	$785,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.03% Airbnb Rental Income: $null Traditional Rental Income: $2581 Airbnb ROI: N/A Traditional ROI: 2.03%
132 Hankal Road Gray, TN Discover Your Slice of Paradise in Boones Creek! Welcome to this charming raised ranch nes...	3 beds \| 3 baths \| 3,392 sq.ft.	$542,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.68% Airbnb Rental Income: $null Traditional Rental Income: $2142 Airbnb ROI: N/A Traditional ROI: 2.68%
118 Meadow Court Gray, TN Back on the market at No Fault of the Seller! This immaculate 5 bed 4 bath Cape Cod is loc...	5 beds \| 4 baths \| 4,430 sq.ft.	$499,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.97% Airbnb Rental Income: $null Traditional Rental Income: $3526 Airbnb ROI: N/A Traditional ROI: 5.97%
313 Cookie Loop Gray, TN The Richland floorplan available at Keeber Meadows in Gray, TN is a beautiful, spacious ho...	4 beds \| 4 baths \| 3,122 sq.ft.	$438,425	Airbnb cash on cash: N/A Traditional cash on cash: 5.75% Airbnb Rental Income: $null Traditional Rental Income: $3046 Airbnb ROI: N/A Traditional ROI: 5.75%

Real Estate investment in Gray, TN

There are 78 properties for sale in the city of Gray . The median list price in Gray is $420,375 and the average price per square foot is $154. In September 2025, the average monthly cash on cash return in Gray is 4.00%. The average monthly rental income in Gray is $2,324.

Gray, TN Real Estate Investing: FAQs for Buyers, Sellers and Investors

There are 78 investment properties available for sale in Gray.

In 2025, the best neighborhood to buy investment property is Gray.

The ROI for Short-Term is higher than the Long-Term in Gray with average rental income of $N/A.

Your search for investment property begins and ends here

Investment Property for Sale in Gray, TN

123 Mesa Drive #123

Gray, TN

1 beds | 1 baths | 780 sq.ft.

$180,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.99%

Airbnb Rental Income: $null

Traditional Rental Income: $1282

Airbnb ROI: N/A

Traditional ROI: 4.99%

1311 Little Shadden Way

Gray, TN

4 beds | 3 baths | 4,354 sq.ft.

$747,900

Airbnb cash on cash: N/A

Traditional cash on cash: 2.08%

Airbnb Rental Income: $null

Traditional Rental Income: $2750

Airbnb ROI: N/A

Traditional ROI: 2.08%

178 Greyland Drive

Gray, TN

3 beds | 2 baths | 2,079 sq.ft.

$325,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.43%

Airbnb Rental Income: $null

Traditional Rental Income: $1969

Airbnb ROI: N/A

Traditional ROI: 4.43%

599 Free Hill Road

Gray, TN

4 beds | 2 baths | 3,029 sq.ft.

$550,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.83%

Airbnb Rental Income: $null

Traditional Rental Income: $2424

Airbnb ROI: N/A

Traditional ROI: 2.83%

130 Cindy Anne Drive

Gray, TN

3 beds | 3 baths | 2,992 sq.ft.

$419,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.6%

Airbnb Rental Income: $null

Traditional Rental Income: $2404

Airbnb ROI: N/A

Traditional ROI: 4.6%

1132 Panoramic Vista

Gray, TN

4 beds | 4 baths | 5,419 sq.ft.

$830,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.61%

Airbnb Rental Income: $null

Traditional Rental Income: $3446

Airbnb ROI: N/A

Traditional ROI: 2.61%

118 Gunners Way

Gray, TN

3 beds | 2 baths | 1,652 sq.ft.

$425,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.73%

Airbnb Rental Income: $null

Traditional Rental Income: $2021

Airbnb ROI: N/A

Traditional ROI: 2.73%

355 Wiltshire Drive

Gray, TN

4 beds | 2 baths | 2,833 sq.ft.

$569,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.88%

Airbnb Rental Income: $null

Traditional Rental Income: $2528

Airbnb ROI: N/A