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
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%
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: 1.21% Airbnb Rental Income: $null Traditional Rental Income: $1787 Airbnb ROI: N/A Traditional ROI: 1.21%
127 Patrick Lane Gray, TN REDUCED!! Looking for a lucrative investment in the heart of the Tri-Cities? Don't miss th...	8 beds \| 4 baths \| N/A	$589,900	Airbnb cash on cash: N/A Traditional cash on cash: 5.24% Airbnb Rental Income: $null Traditional Rental Income: $3609 Airbnb ROI: N/A Traditional ROI: 5.24%
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: N/A Traditional cash on cash: 2.9% Airbnb Rental Income: $null Traditional Rental Income: $1221 Airbnb ROI: N/A Traditional ROI: 2.9%
121 Valley Circle Gray, TN Renovated Raised Ranch with Fenced Yard, Brick Construction, One Car Drive Under Garage, E...	3 beds \| 3 baths \| 1,776 sq.ft.	$273,000	Airbnb cash on cash: N/A Traditional cash on cash: 6.19% Airbnb Rental Income: $null Traditional Rental Income: $2010 Airbnb ROI: N/A Traditional ROI: 6.19%
201 Gunners Way Gray, TN Welcome home to comfort, space, and modern design in this beautifully maintained 3 bedroom...	3 beds \| 3 baths \| 1,724 sq.ft.	$359,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.42% Airbnb Rental Income: $null Traditional Rental Income: $2226 Airbnb ROI: N/A Traditional ROI: 4.42%
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: 1.76% Airbnb Rental Income: $null Traditional Rental Income: $1787 Airbnb ROI: N/A Traditional ROI: 1.76%
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.	$349,800	Airbnb cash on cash: N/A Traditional cash on cash: 4.22% Airbnb Rental Income: $null Traditional Rental Income: $1889 Airbnb ROI: N/A Traditional ROI: 4.22%
167 Highland Hills Drive Gray, TN Offering significantly more finished space than many competing homes in this price bracket...	3 beds \| 3 baths \| 2,604 sq.ft.	$409,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.9% Airbnb Rental Income: $null Traditional Rental Income: $2483 Airbnb ROI: N/A Traditional ROI: 4.9%
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.	$468,900	Airbnb cash on cash: N/A Traditional cash on cash: 3.46% Airbnb Rental Income: $null Traditional Rental Income: $2220 Airbnb ROI: N/A Traditional ROI: 3.46%
1024 Little Shadden Way Gray, TN Welcome to the exquisite Shadden Springs neighborhood, where luxury meets comfort. This be...	5 beds \| 4 baths \| 3,221 sq.ft.	$769,900	Airbnb cash on cash: N/A Traditional cash on cash: 2.51% Airbnb Rental Income: $null Traditional Rental Income: $2931 Airbnb ROI: N/A Traditional ROI: 2.51%
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: N/A Traditional cash on cash: 5.54% Airbnb Rental Income: $null Traditional Rental Income: $2091 Airbnb ROI: N/A 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 \| 2 baths \| 1,846 sq.ft.	$342,500	Airbnb cash on cash: N/A Traditional cash on cash: 5.61% Airbnb Rental Income: $null Traditional Rental Income: $2477 Airbnb ROI: N/A Traditional ROI: 5.61%
319 Piper Glen Gray, TN Welcome to this beautifully crafted two-level PUD built in 2024 by Scott Britton Construct...	3 beds \| 2 baths \| 1,846 sq.ft.	$339,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.95% Airbnb Rental Income: $null Traditional Rental Income: $2248 Airbnb ROI: N/A 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: N/A Traditional cash on cash: 4.29% Airbnb Rental Income: $null Traditional Rental Income: $2795 Airbnb ROI: N/A Traditional ROI: 4.29%
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: N/A Traditional cash on cash: 3.27% Airbnb Rental Income: $null Traditional Rental Income: $2129 Airbnb ROI: N/A 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.	$1,325,808	Airbnb cash on cash: N/A Traditional cash on cash: 2.86% Airbnb Rental Income: $null Traditional Rental Income: $5281 Airbnb ROI: N/A Traditional ROI: 2.86%
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: N/A Traditional cash on cash: 2.73% Airbnb Rental Income: $null Traditional Rental Income: $2009 Airbnb ROI: N/A Traditional ROI: 2.73%
106 Salem Drive Gray, TN Charming Remodeled 3-Bedroom Home Near the Lake! This beautifully remodeled 3-bedroom, 2-b...	3 beds \| 2 baths \| 1,434 sq.ft.	$329,000	Airbnb cash on cash: N/A Traditional cash on cash: 4.31% Airbnb Rental Income: $null Traditional Rental Income: $1755 Airbnb ROI: N/A Traditional ROI: 4.31%
1128 Keeview Drive Gray, TN This impressive custom-built home sits on 1.17 acres and includes an additional lot direct...	3 beds \| 2 baths \| 2,476 sq.ft.	$815,000	Airbnb cash on cash: N/A Traditional cash on cash: 0.74% Airbnb Rental Income: $null Traditional Rental Income: $1687 Airbnb ROI: N/A Traditional ROI: 0.74%
2204 Oak St Gray, TN POSSIBLE LEASE/PURCHASE. Paved DRIVEWAY TO BE DONE AS WEATHER PERMITS. Be ready to fall in...	3 beds \| 2 baths \| 1,266 sq.ft.	$260,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.16% Airbnb Rental Income: $null Traditional Rental Income: $1779 Airbnb ROI: N/A Traditional ROI: 5.16%
575 Boring Chapel Rd unit: 30 Gray, TN Welcome to Gabriel Crossing, one of Gray's most sought-after lake-living communities! This...	4 beds \| 2 baths \| 2,170 sq.ft.	$409,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.54% Airbnb Rental Income: $null Traditional Rental Income: $2383 Airbnb ROI: N/A Traditional ROI: 4.54%
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: N/A Traditional cash on cash: 5.11% Airbnb Rental Income: $null Traditional Rental Income: $1779 Airbnb ROI: N/A Traditional ROI: 5.11%
563 Boring Chapel Road unit: 2 Gray, TN Unique opportunity to own one of the largest units in The Reserve at Chapel Cove along bea...	3 beds \| 3 baths \| 1,800 sq.ft.	$259,000	Airbnb cash on cash: N/A Traditional cash on cash: 10.24% Airbnb Rental Income: $null Traditional Rental Income: $2932 Airbnb ROI: N/A Traditional ROI: 10.24%
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: N/A Traditional cash on cash: 4.3% Airbnb Rental Income: $null Traditional Rental Income: $2263 Airbnb ROI: N/A Traditional ROI: 4.3%
106 Meadow Court Gray, TN *** Seller is offering $10,000 in closing costs and prepaid items to the buyer with an acc...	4 beds \| 3 baths \| 2,615 sq.ft.	$475,000	Airbnb cash on cash: N/A Traditional cash on cash: 3.78% Airbnb Rental Income: $null Traditional Rental Income: $2399 Airbnb ROI: N/A Traditional ROI: 3.78%
137 Valley Street Gray, TN This two-bedroom cottage offers perfectly unrestricted views of Boone Lake and is centrall...	2 beds \| 2 baths \| 912 sq.ft.	$219,900	Airbnb cash on cash: N/A Traditional cash on cash: 4.89% Airbnb Rental Income: $null Traditional Rental Income: $1384 Airbnb ROI: N/A Traditional ROI: 4.89%
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: N/A Traditional cash on cash: 2.19% Airbnb Rental Income: $null Traditional Rental Income: $2250 Airbnb ROI: N/A Traditional ROI: 2.19%
20 Boone Hill Court unit: 20 Gray, TN Join us Sunday, 3/29/2026 from 2pm-4pm for an Easter treat to all attendees. You will fall...	1 beds \| 1 baths \| 640 sq.ft.	$155,000	Airbnb cash on cash: N/A Traditional cash on cash: 5.01% Airbnb Rental Income: $null Traditional Rental Income: $1037 Airbnb ROI: N/A 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%

Real Estate investment in Gray, TN

There are 68 properties for sale in the city of Gray . The median list price in Gray is $409,450 and the average price per square foot is $187. In April 2026, the average monthly cash on cash return in Gray is 4.00%. The average monthly rental income in Gray is $2,010.

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

There are 68 investment properties available for sale in 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

818 Hales Chapel Road

Gray, TN

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%

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: 1.21%

Airbnb Rental Income: $null

Traditional Rental Income: $1787

Airbnb ROI: N/A

Traditional ROI: 1.21%

127 Patrick Lane

Gray, TN

8 beds | 4 baths | N/A

$589,900

Airbnb cash on cash: N/A

Traditional cash on cash: 5.24%

Airbnb Rental Income: $null

Traditional Rental Income: $3609

Airbnb ROI: N/A

Traditional ROI: 5.24%

6277 Kingsport Highway

Gray, TN

3 beds | 1 baths | 864 sq.ft.

$295,000

Airbnb cash on cash: N/A

Traditional cash on cash: 2.9%

Airbnb Rental Income: $null

Traditional Rental Income: $1221

Airbnb ROI: N/A

Traditional ROI: 2.9%

121 Valley Circle

Gray, TN

3 beds | 3 baths | 1,776 sq.ft.

$273,000

Airbnb cash on cash: N/A

Traditional cash on cash: 6.19%

Airbnb Rental Income: $null

Traditional Rental Income: $2010

Airbnb ROI: N/A

Traditional ROI: 6.19%

201 Gunners Way

Gray, TN

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

$359,000

Airbnb cash on cash: N/A

Traditional cash on cash: 4.42%

Airbnb Rental Income: $null

Traditional Rental Income: $2226

Airbnb ROI: N/A

Traditional ROI: 4.42%

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: 1.76%

Airbnb Rental Income: $null

Traditional Rental Income: $1787

Airbnb ROI: N/A

Traditional ROI: 1.76%

1069 Gray Station Road

Gray, TN

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

$349,800

Airbnb cash on cash: N/A

Traditional cash on cash: 4.22%

Airbnb Rental Income: $null

Traditional Rental Income: $1889

Airbnb ROI: N/A