1935 Elk Springs Way, Gatlinburg, TN 37738

$795,000
3
BD
3
BA
2,610
SqFt
List Price
$795,000
MLS#
302299
Status
ACTIVE
Type
Single Family Residential
City
Gatlinburg
County
Sevier
Bedrooms
3
Bathrooms
3
Baths Full
3
Living Area
2,610
Year Built
2006

Property Description

Your dream investment cabin has just hit the market! ''Mountain Magic'' is a three bedroom, three bath cabin in Elk Springs Resort just outside of Gatlinburg in the Glades Arts & Crafts Community. The cabin has produced a consistent rental income for many years and the low operating costs create an appealing investment opportunity. The property produced $78,009 (2021) and $66,749 (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 (and other gas appliances) will heat effectively and efficiently! Operating costs are surprisingly low and among the lowest you'll see for a three bedroom STR cabin of its size in Sevier County. Monthly averages of electric at $264.71, community septic $78.14, gas $104.29, 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 three bedroom cabin in our market. There are decks and porches galore at ''Mountain Magic'' 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. ''Mountain Magic'' doesn't lack fun or amenities with a nice wet bar and pool table in the game room area. 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! This is a well maintained cabin with the same owner operating and owning the property since 2009, a lack of turnover rarity in our short term rental market. The convenient easy access location, and excellent bang for your buck HOA fees are a recipe for success in our short term cabin rental market.

Additional Information

Community Amenities
Other
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Exterior Features
Rain Gutters
Fireplace
Yes
Living Area
2,610
Style
Cabin, Log
Subdivision
Elk Springs Resort
Year Built
2006
Zoning
R-1
Subdivision
Elk Springs Resort
Fireplaces
1
Hoa
Yes
Hoa Freq
Monthly
Water
Public
Sewer
Shared Septic

Mortgage Calculator

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Calculator source: Real Geeks

Agent: Jay Fradd |

Office: Smoky Mountain Real Estate Cor |

Equal Housing Opportunity. All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. All content Copyright 1998-2024 Great Smoky Mountains Association of Realtors. All rights reserved. Last updated .