1838 Elk Springs Way, Gatlinburg, TN 37738

$1,199,000
5
BD
4
BA
3,276
SqFt
List Price
$1,199,000
Price Change
▼ $100,000 1694120724
MLS#
260875
Status
ACTIVE
Type
Single Family Residential
City
Gatlinburg
County
Sevier
Bedrooms
5
Bathrooms
4
Baths Full
4
Living Area
3,276
Year Built
2007

Property Description

Your dream investment cabin has just hit the market! “Diamond in the Rough” is a five bedroom, four bath cabin in Elk Springs Resort just outside of Gatlinburg in the Glades Arts & Crafts Community. The cabin has produced a stellar rental income and the low operating costs create an appealing investment opportunity. Featuring a decent view, along with top notch private theater room, it produced $131,907 (2021) and $128,650 (2022) the past two years. These figures only include rental rate revenues, not cleaning fees, taxes, or any other related fees/taxes. The $150 monthly HOA fee is a bargain as it includes the water and Xfinity cable/internet which often is higher than $150 monthly on its own! Elk Springs Resort is also one of the few cabin communities that has natural gas (through Sevier County Utility District) so your fireplaces will heat effectively and efficiently! Operating costs are surprisingly low and among the very lowest you'll see for a five bedroom STR cabin of its size in Sevier County. Monthly averages of electric at $236, community septic $102, gas $138, the cable/internet/water all covered within the $150 HOA fee, and reasonable insurance costs equate to some of the lowest cost of operation for a quality five bedroom cabin in our market. There are decks and porches galore at “Diamond in the Rough” allowing for some great porch sitting and opening up opportunities for some outdoor living for guests. There is even a pretty decent view off the porches to take in the grandeur of the Smokies. “Diamond in the Rough” doesn't lack fun or amenities and this isn't your run of the mill theater room haphazardly thrown into a game room as a secondary thought. This cabin features a quality theater room with T&G walls for folks to watch their favorite shows in style! Opportunities for fun abound in the large game room area. The cabin is also tastefully decorated throughout. Elk Springs Resort and this cabin are ideally situated in the Gatlinburg Arts & Crafts community just east of Gatlinburg. The property is easily accessed without steep roads and just minutes from downtown Gatlinburg and even closer to the Gatlinburg Arts & Crafts Community on Glades Road. Schedule a showing and write an offer on this spectacular cabin - you won't be disappointed! The great rental income, convenient easy access location, and excellent bang for your buck HOA fees are a recipe for success in our short term cabin rental market. The owners of the property will consider owner financing depending on the terms of the offer/contract.

Additional Information

Community Amenities
Broadband Internet Available, Cable TV, Hot Tub, Mountain View, Planned Unit Development, Seasonal View
Appliances
Dishwasher, Dryer, Electric Range, Microwave, Projection TV, Refrigerator, Smoke Detector
Construction
Frame, Log Siding, Stone, Wood Siding
Exterior Features
Double Pane Windows, Gutters
Living Area
3,276
Style
Cabin, Log
Subdivision
Elk Springs Resort
Year Built
2007
Zoning
R-1
Subdivision
Elk Springs Resort
Hoa Freq
Monthly
Water
Utility
Sewer
Community System

Mortgage Calculator

Amount of Loan
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Term of Loan
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Calculator source: Real Geeks

Agent: Jay Fradd |

Office: Smoky Mountain Real Estate Corporation |

Equal Housing Opportunity. All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. All content Copyright 1998-2023 Great Smoky Mountains Association of Realtors. All rights reserved. Last updated .