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
400 Hallbrook Drive #17 Gray, TN Buyer could not obtain fha financing! Get us an OFFER ! Everything is ready to go... Welco...	2 beds \| 2 baths \| 1,472 sq.ft.	$215,000	Airbnb cash on cash: 0.17% Traditional cash on cash: 6.79% Airbnb Rental Income: $727 Traditional Rental Income: $1765 Airbnb ROI: 0.17% Traditional ROI: 6.79%
102 Ridgeview Meadows Drive Gray, TN Welcome to this stunning 4 bedroom, 3 bath traditional home. With its thoughtful design, t...	4 beds \| 3 baths \| 2,522 sq.ft.	$524,800	Airbnb cash on cash: N/A Traditional cash on cash: 3.52% Airbnb Rental Income: $null Traditional Rental Income: $2494 Airbnb ROI: N/A Traditional ROI: 3.52%
124 Lazy Lane Gray, TN Positioned at the end of a quiet cul-de-sac in the highly sought-after Hillendale Estates ...	4 beds \| 3 baths \| 3,134 sq.ft.	$700,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.82% Airbnb Rental Income: $null Traditional Rental Income: $2838 Airbnb ROI: N/A Traditional ROI: 2.82%
6277 Kingsport Highway Gray, TN LARGE CORNER LOT - 2.7 ACRES - ROAD FRONTAGE is 460 feet off Kingsport Highway as well as ...	3 beds \| 1 baths \| 864 sq.ft.	$295,000	Airbnb cash on cash: 0.57% Traditional cash on cash: 2.9% Airbnb Rental Income: $914 Traditional Rental Income: $1221 Airbnb ROI: 0.57% Traditional ROI: 2.9%
182 Gunners Way Gray, TN Open House Sat 4/18 12-3 PM Inviting Patio Home in the Heart of the Tri-Cities, Imma...	3 beds \| 2 baths \| 1,604 sq.ft.	$417,000	Airbnb cash on cash: -0.11% Traditional cash on cash: 3.3% Airbnb Rental Income: $914 Traditional Rental Income: $1906 Airbnb ROI: -0.11% Traditional ROI: 3.3%
201 Gunners Way Gray, TN New Price! New opportunity! Welcome home to comfort, space, and modern design in this beau...	3 beds \| 3 baths \| 1,724 sq.ft.	$349,000	Airbnb cash on cash: -0.47% Traditional cash on cash: 4.58% Airbnb Rental Income: $914 Traditional Rental Income: $2226 Airbnb ROI: -0.47% Traditional ROI: 4.58%
179 Cindy Anne Drive Gray, TN Welcome to 179 Cindy Anne Dr in Gray, TN, a beautifully maintained 4 bedroom, 3 bathroom h...	4 beds \| 3 baths \| 3,298 sq.ft.	$600,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.03% Airbnb Rental Income: $null Traditional Rental Income: $2494 Airbnb ROI: N/A Traditional ROI: 3.03%
1069 Gray Station Road Gray, TN Welcome to this lovely home in the heart of Gray, Tennessee--where comfort meets peaceful ...	3 beds \| 2 baths \| 1,595 sq.ft.	$335,000	Airbnb cash on cash: 0.26% Traditional cash on cash: 4.44% Airbnb Rental Income: $914 Traditional Rental Income: $1889 Airbnb ROI: 0.26% Traditional ROI: 4.44%
226 Quiet Stroll Lane Gray, TN LIKE NEW \| MAIN LEVEL PRIMARY \| COVERED BACK PATIO \| LOW MAINTENANCE LIVING Built in 2023,...	3 beds \| 3 baths \| 2,212 sq.ft.	$457,900	Airbnb cash on cash: -0.27% Traditional cash on cash: 3.57% Airbnb Rental Income: $914 Traditional Rental Income: $2220 Airbnb ROI: -0.27% Traditional ROI: 3.57%
105 Meadow Court Gray, TN Back on the market at no fault of the seller--don't miss your second shot at this family-f...	4 beds \| 3 baths \| 2,948 sq.ft.	$594,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.86% Airbnb Rental Income: $null Traditional Rental Income: $2367 Airbnb ROI: N/A Traditional ROI: 2.86%
529 Old Gray Station Road Gray, TN Motivated Seller, reasonable offers may be considered!! Welcome to this well-maintained ...	3 beds \| 2 baths \| 1,643 sq.ft.	$309,900	Airbnb cash on cash: 0.33% Traditional cash on cash: 5.54% Airbnb Rental Income: $914 Traditional Rental Income: $2091 Airbnb ROI: 0.33% Traditional ROI: 5.54%
323 Piper Glen Gray, TN Modern style, a smart layout, and low-maintenance living all come together in this beautif...	3 beds \| 3 baths \| 1,846 sq.ft.	$339,900	Airbnb cash on cash: -0.31% Traditional cash on cash: 5.66% Airbnb Rental Income: $914 Traditional Rental Income: $2477 Airbnb ROI: -0.31% Traditional ROI: 5.66%
319 Piper Glen Gray, TN Welcome to this beautifully crafted two-level PUD built in 2024 by Scott Britton Construct...	3 beds \| 3 baths \| 1,846 sq.ft.	$339,000	Airbnb cash on cash: -0.31% Traditional cash on cash: 4.95% Airbnb Rental Income: $914 Traditional Rental Income: $2248 Airbnb ROI: -0.31% Traditional ROI: 4.95%
123 Village Lane Gray, TN Stunningly maintained and cared for home that is move-in ready and shows like a model home...	4 beds \| 3 baths \| 1,940 sq.ft.	$375,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.61% Airbnb Rental Income: $null Traditional Rental Income: $2502 Airbnb ROI: N/A Traditional ROI: 5.61%
16 Chaucer Court Gray, TN Escape to your own private retreat with this stunning 5-bedroom, 3-full-bath home! The spa...	5 beds \| 3 baths \| 3,780 sq.ft.	$620,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.47% Airbnb Rental Income: $null Traditional Rental Income: $2893 Airbnb ROI: N/A Traditional ROI: 3.47%
137 Austin Ridge Court Gray, TN Seller's are Ready to Sell!!!! Stunning 3-Bedroom Home with Bonus Room & Oversized Garages...	3 beds \| 4 baths \| 2,655 sq.ft.	$509,000	Airbnb cash on cash: -0.38% Traditional cash on cash: 4.29% Airbnb Rental Income: $914 Traditional Rental Income: $2795 Airbnb ROI: -0.38% Traditional ROI: 4.29%
380 Oak Grove Road Gray, TN Farmhouse in Gray with so much potential! This home was built in 1900 and is begging for s...	4 beds \| 3 baths \| 2,267 sq.ft.	$239,900	Airbnb cash on cash: N/A Traditional cash on cash: 8.51% Airbnb Rental Income: $null Traditional Rental Income: $2373 Airbnb ROI: N/A Traditional ROI: 8.51%
194 Sunset Meadows Court Gray, TN Tucked away at the end of a quiet cul-de-sac in the highly sought-after Sunset Ridge neigh...	4 beds \| 3 baths \| 3,348 sq.ft.	$640,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.59% Airbnb Rental Income: $null Traditional Rental Income: $2500 Airbnb ROI: N/A Traditional ROI: 2.59%
153 H R King Road unit: 1 Gray, TN Lakefront Living in a Private Cove! Welcome to your lakefront cottage dream come true! Nes...	2 beds \| 2 baths \| 1,442 sq.ft.	$489,000	Airbnb cash on cash: -0.47% Traditional cash on cash: 3.27% Airbnb Rental Income: $727 Traditional Rental Income: $2129 Airbnb ROI: -0.47% Traditional ROI: 3.27%
218 Lake Meadow Drive Gray, TN THIS IS MORE THAN A HOME - IT'S A LIFESTYLE! Welcome to this beautiful lakefront home offe...	4 beds \| 5 baths \| 5,670 sq.ft.	$1,225,800	Airbnb cash on cash: N/A Traditional cash on cash: 3.17% Airbnb Rental Income: $null Traditional Rental Income: $5281 Airbnb ROI: N/A Traditional ROI: 3.17%
133 Dry Kiln Court Gray, TN The stunning open floor plan offers one living with1650 finished sq ft, 3 bedrooms, 2 bath...	3 beds \| 2 baths \| 1,650 sq.ft.	$459,000	Airbnb cash on cash: -0.61% Traditional cash on cash: 2.73% Airbnb Rental Income: $914 Traditional Rental Income: $2009 Airbnb ROI: -0.61% Traditional ROI: 2.73%
1193 Shadden Road Gray, TN Well-maintained one-level home located at 1193 Shadden Road in Gray, TN. This property off...	3 beds \| 2 baths \| 1,344 sq.ft.	$212,000	Airbnb cash on cash: 1.08% Traditional cash on cash: 6.78% Airbnb Rental Income: $914 Traditional Rental Income: $1718 Airbnb ROI: 1.08% Traditional ROI: 6.78%
1128 Keeview Drive Gray, TN This impressive custom-built home sits on 1.17 acres and includes an additional lot direct...	3 beds \| 3 baths \| 2,476 sq.ft.	$795,000	Airbnb cash on cash: -0.72% Traditional cash on cash: 0.78% Airbnb Rental Income: $914 Traditional Rental Income: $1687 Airbnb ROI: -0.72% Traditional ROI: 0.78%
217 Lake Meadow Drive Gray, TN Lake Access! Back on market at no fault of seller. Beautifully renovated home in the desir...	3 beds \| 3 baths \| 2,620 sq.ft.	$869,500	Airbnb cash on cash: -0.73% Traditional cash on cash: 1.8% Airbnb Rental Income: $914 Traditional Rental Income: $2623 Airbnb ROI: -0.73% Traditional ROI: 1.8%
2208 Oak Street Gray, TN POSSIBLE LEASE/PURCHASE. Paved DRIVEWAY WILL BE DONE AS SOON AS WEATHER PERMITS. Welcome h...	3 beds \| 2 baths \| 1,266 sq.ft.	$262,000	Airbnb cash on cash: 0.23% Traditional cash on cash: 5.11% Airbnb Rental Income: $914 Traditional Rental Income: $1779 Airbnb ROI: 0.23% Traditional ROI: 5.11%
563 Boring Chapel Road unit: 2 Gray, TN MOTIVATED SELLERS! Unique opportunity to own one of the largest units in The Reserve at Ch...	3 beds \| 3 baths \| 1,800 sq.ft.	$255,000	Airbnb cash on cash: 0.61% Traditional cash on cash: 10.41% Airbnb Rental Income: $914 Traditional Rental Income: $2932 Airbnb ROI: 0.61% Traditional ROI: 10.41%
719 Walkers Bend Road Gray, TN Welcome home to this beautifully maintained, spacious 3-bedroom, 3-bath residence, tucked ...	3 beds \| 3 baths \| 2,244 sq.ft.	$407,500	Airbnb cash on cash: -0.13% Traditional cash on cash: 4.3% Airbnb Rental Income: $914 Traditional Rental Income: $2263 Airbnb ROI: -0.13% Traditional ROI: 4.3%
106 Meadow Court Gray, TN * OPEN HOUSE, Sunday 4/19/2026 from 2pm - 4pm * This 4-bedroom, 2.5-bath home offers a...	4 beds \| 3 baths \| 2,615 sq.ft.	$449,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.05% Airbnb Rental Income: $null Traditional Rental Income: $2399 Airbnb ROI: N/A Traditional ROI: 4.05%
381 Boonesboro Road Gray, TN Welcome home to this beautiful and elegant ranch-style residence that blends comfort, styl...	3 beds \| 2 baths \| 2,681 sq.ft.	$649,900	Airbnb cash on cash: -0.57% Traditional cash on cash: 2.19% Airbnb Rental Income: $914 Traditional Rental Income: $2250 Airbnb ROI: -0.57% Traditional ROI: 2.19%
20 Boone Hill Court unit: 20 Gray, TN You will fall in love the moment you walk in the door. This cozy condo has been lovingly u...	1 beds \| 1 baths \| 640 sq.ft.	$155,000	Airbnb cash on cash: -0.61% Traditional cash on cash: 5.01% Airbnb Rental Income: $472 Traditional Rental Income: $1037 Airbnb ROI: -0.61% Traditional ROI: 5.01%
1148 Cliffview Circle Gray, TN START YOUR HOME SEARCH HERE! Located at an elevation of approximately 1,860 feet in the de...	5 beds \| 4 baths \| 3,507 sq.ft.	$795,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.98% Airbnb Rental Income: $null Traditional Rental Income: $3341 Airbnb ROI: N/A Traditional ROI: 2.98%
135 Brittany Drive Gray, TN This traditional two-story home, built in 1997, combines timeless character with stylish m...	4 beds \| 3 baths \| 2,642 sq.ft.	$460,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.49% Airbnb Rental Income: $null Traditional Rental Income: $2613 Airbnb ROI: N/A Traditional ROI: 4.49%
177 Sunset Meadows Court Gray, TN Tucked within the highly sought-after Sunset Ridge subdivision, this stunning European-ins...	4 beds \| 3 baths \| 2,902 sq.ft.	$649,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.97% Airbnb Rental Income: $null Traditional Rental Income: $2776 Airbnb ROI: N/A Traditional ROI: 2.97%
80 Mill Race Court Gray, TN No steps in this fastidiously maintained, 2 Bedroom, 2 Bath end unit condo with pleasant v...	2 beds \| 2 baths \| 1,556 sq.ft.	$368,900	Airbnb cash on cash: -0.45% Traditional cash on cash: 4.07% Airbnb Rental Income: $727 Traditional Rental Income: $1984 Airbnb ROI: -0.45% Traditional ROI: 4.07%
216 Bridgewater Court Gray, TN Luxury Living with Unmatched Convenience in the Tri-Cities Step into an oversized, open-co...	3 beds \| 3 baths \| 2,900 sq.ft.	$420,000	Airbnb cash on cash: -0.15% Traditional cash on cash: 4.37% Airbnb Rental Income: $914 Traditional Rental Income: $2351 Airbnb ROI: -0.15% Traditional ROI: 4.37%
185 Mcafee Bluff Gray, TN Discover 185 McAfee Bluff, an exquisite, custom-built residence in the highly desirable La...	4 beds \| 3 baths \| 3,980 sq.ft.	$849,900	Airbnb cash on cash: N/A Traditional cash on cash: 1.75% Airbnb Rental Income: $null Traditional Rental Income: $2530 Airbnb ROI: N/A Traditional ROI: 1.75%
1065 Gray Station Road Gray, TN If you're looking for a quiet neighborhood with a country feel just minutes from JC or Kin...	5 beds \| 2 baths \| 1,433 sq.ft.	$305,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.59% Airbnb Rental Income: $null Traditional Rental Income: $2072 Airbnb ROI: N/A Traditional ROI: 5.59%
575 Boring Chapel Rd #30 Gray, TN Welcome to Gabriel Crossing, one of Gray's most sought-after lake-living communities! This...	4 beds \| 3 baths \| 2,170 sq.ft.	$409,900	Airbnb cash on cash: N/A Traditional cash on cash: 6.28% Airbnb Rental Income: $null Traditional Rental Income: $3071 Airbnb ROI: N/A Traditional ROI: 6.28%
283 Ridgeview Drive Gray, TN Welcome to 283 Ridgeview Drive -- a well-maintained 3 bedroom, 2 bath split foyer home off...	3 beds \| 2 baths \| 1,388 sq.ft.	$299,900	Airbnb cash on cash: 0.44% Traditional cash on cash: 4.76% Airbnb Rental Income: $914 Traditional Rental Income: $1791 Airbnb ROI: 0.44% Traditional ROI: 4.76%
818 Hales Chapel Road Gray, TN This stunning 2019 Craftsman-style home is filled with charm, character, and custom detail...	4 beds \| 3 baths \| 3,635 sq.ft.	$766,000	Airbnb cash on cash: N/A Traditional cash on cash: 2.31% Airbnb Rental Income: $null Traditional Rental Income: $2706 Airbnb ROI: N/A Traditional ROI: 2.31%

Real Estate investment in Gray, TN

There are 67 properties for sale in the city of Gray . The median list price in Gray is $409,000 and the average price per square foot is $181. In April 2026, the average monthly cash on cash return in Gray is 4.00%. The average monthly rental income in Gray is $2,281.

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

There are 67 investment properties available for sale in Gray.

In 2026, 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 $914.

Your search for investment property begins and ends here

Investment Property for Sale in Gray, TN

400 Hallbrook Drive #17

Gray, TN

2 beds | 2 baths | 1,472 sq.ft.

$215,000

Airbnb cash on cash: 0.17%

Traditional cash on cash: 6.79%

Airbnb Rental Income: $727

Traditional Rental Income: $1765

Airbnb ROI: 0.17%

Traditional ROI: 6.79%

102 Ridgeview Meadows Drive

Gray, TN

4 beds | 3 baths | 2,522 sq.ft.

$524,800

Airbnb cash on cash: N/A

Traditional cash on cash: 3.52%

Airbnb Rental Income: $null

Traditional Rental Income: $2494

Airbnb ROI: N/A

Traditional ROI: 3.52%

124 Lazy Lane

Gray, TN

4 beds | 3 baths | 3,134 sq.ft.

$700,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.82%

Airbnb Rental Income: $null

Traditional Rental Income: $2838

Airbnb ROI: N/A

Traditional ROI: 2.82%

6277 Kingsport Highway

Gray, TN

3 beds | 1 baths | 864 sq.ft.

$295,000

Airbnb cash on cash: 0.57%

Traditional cash on cash: 2.9%

Airbnb Rental Income: $914

Traditional Rental Income: $1221

Airbnb ROI: 0.57%

Traditional ROI: 2.9%

182 Gunners Way

Gray, TN

3 beds | 2 baths | 1,604 sq.ft.

$417,000

Airbnb cash on cash: -0.11%

Traditional cash on cash: 3.3%

Airbnb Rental Income: $914

Traditional Rental Income: $1906

Airbnb ROI: -0.11%

Traditional ROI: 3.3%

201 Gunners Way

Gray, TN

3 beds | 3 baths | 1,724 sq.ft.

$349,000

Airbnb cash on cash: -0.47%

Traditional cash on cash: 4.58%

Airbnb Rental Income: $914

Traditional Rental Income: $2226

Airbnb ROI: -0.47%

Traditional ROI: 4.58%

179 Cindy Anne Drive

Gray, TN

4 beds | 3 baths | 3,298 sq.ft.

$600,000

Airbnb cash on cash: N/A

Traditional cash on cash: 3.03%

Airbnb Rental Income: $null

Traditional Rental Income: $2494

Airbnb ROI: N/A

Traditional ROI: 3.03%

1069 Gray Station Road

Gray, TN

3 beds | 2 baths | 1,595 sq.ft.

$335,000

Airbnb cash on cash: 0.26%

Traditional cash on cash: 4.44%

Airbnb Rental Income: $914

Traditional Rental Income: $1889

Airbnb ROI: 0.26%