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2480 Elk Way, Newport, TN 37821 - $388,800

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Bedrooms: 3 Full Bathrooms: 4 Half Bathrooms: 0
Type: Residential Sub Type: Single Family Residence MLS Number: 9990558
Living Area: 2,569 Lot Acreage: 1 Year Built: 1884
Elementary School: Cosby Middle School: Cosby High School: Cosby
Property Description
Turnkey Smoky Mountains Investment Opportunity - Single-Family Home with Mountain Views. Discover a well-maintained, income-producing single-family home in East Tennessee, ideally located near medical facilities, shopping, and dining—an excellent option for both investors and owner-occupants. This 3-bedroom, 4-bath residence offers 2,569 square feet, a two-car garage, and sits on 1.15 acres, providing strong rental potential and long-term value. The property features mountain views from both the front and rear, a partially fenced yard, and a peaceful setting attractive to both long-term tenants and short-term rental guests. Recent capital improvements include a new roof and new deck, minimizing near-term maintenance costs and enhancing overall asset quality. The open frontage land also offers potential for future expansion or development (subject to zoning regulations). For investors, the adjacent income-producing tri-plex is also available and can be purchased as part of a package sale, creating a rare opportunity to acquire multiple cash-flowing properties in one transaction. Whether you're building a rental portfolio, entering the Smoky Mountains short-term rental market, or living on-site while generating income from neighboring rentals, this property delivers flexibility, location. Conveniently located approximately 53 minutes to Knoxville, 48 minutes to Pigeon Forge and Gatlinburg, and 45 minutes to Hot Springs, NC.
Listing Status
Active
  • More Listing Info
    AC:Ceiling Fan(s)true
    AC:Heat Pump3true
    Appliances:Cooktoptrue
    Appliances:Dishwashertrue
    Appliances:Dryertrue
    Appliances:Electric Rangetrue
    Appliances:Refrigeratortrue
    Appliances:Washertrue
    Contract Info:ForeclosureNo
    Easements:Other7true
    Exterior Finish:Wood Sidingtrue
    Fencing:Back Yardtrue
    Fireplace:Living Roomtrue
    Flooring:Carpettrue
    Flooring:Tile2true
    Garage:Garage Spaces2
    General Property Description:Above Grade SqFt2569.0
    General Property Description:Acres1.15
    General Property Description:Baths - Full4
    General Property Description:Deed Book #21627
    General Property Description:Deed Page #2554
    General Property Description:Elementary School3Cosby
    General Property Description:High School3Cosby
    General Property Description:HOA YNNo
    General Property Description:Home WarrantyNo
    General Property Description:Lot #213R
    General Property Description:Lot Dimensions232x216x174x275
    General Property Description:Middle School2Cosby
    General Property Description:Total Rooms27
    General Property Description:Total SqFt Finished2569.0
    General Property Description:Total SqFt Unfinished0.0
    General Property Description:Zoning2residential
    Heating:Heat Pump2true
    Interior Features:Laminate Counterstrue
    Interior Features:Open Floorplantrue
    Laundry Features:Electric Dryer Hookuptrue
    Levels:One and One Halftrue
    Location Tax Legal Info:City Taxes0.0
    Location Tax Legal Info:County Taxes1245.7
    Parking Features:Drivewaytrue
    Parking Features:Garage Door Openertrue
    Parking Features:Graveltrue
    PorchPatioDeck:Rear Porchtrue
    PorchPatioDeck:Side Porchtrue
    Property Condition:Averagetrue
    Remarks Misc:Directions3From Newport US-321 towards Cosby turn left onto Old 32, continue to follow old 32. Turn left onto O'Neil Rd then turn left onto Elk Way. Stay on Elk way see sign. From Cosby take US-321 onto Old 32 then follow the remaining directions. Property is GPS friendly.
    Remarks Misc:userdefined80Turnkey Smoky Mountains Investment Opportunity - Single-Family Home with Mountain Views. Discover a well-maintained, income-producing single-family home in East Tennessee, ideally located near medical facilities, shopping, and dining—an excellent option for both investors and owner-occupants. This 3-bedroom, 4-bath residence offers 2,569 square feet, a two-car garage, and sits on 1.15 acres, providing strong rental potential and long-term value. The property features mountain views from both the front and rear, a partially fenced yard, and a peaceful setting attractive to both long-term tenants and short-term rental guests. Recent capital improvements include a new roof and new deck, minimizing near-term maintenance costs and enhancing overall asset quality. The open frontage land also offers potential for future expansion or development (subject to zoning regulations). For investors, the adjacent income-producing tri-plex is also available and can be purchased as part of a package sale, creating a rare opportunity to acquire multiple cash-flowing properties in one transaction. Whether you're building a rental portfolio, entering the Smoky Mountains short-term rental market, or living on-site while generating income from neighboring rentals, this property delivers flexibility, location. Conveniently located approximately 53 minutes to Knoxville, 48 minutes to Pigeon Forge and Gatlinburg, and 45 minutes to Hot Springs, NC.
    Roof:Shingletrue
    Sewer:Septic Tanktrue
    SqFt Details:Basement Total SqFt0
    SqFt Details:Finished SqFt Level 12569
    SqFt Details:Garage Attached SqFt720
    SqFt Details:Garage Total SqFt720
    Structure Type:Housetrue
    Style:Ranchtrue
    TopographyLot Description:Level2true
    TopographyLot Description:Rolling Slopetrue
    Utilities:Cable Connectedtrue
    Utilities:Electricity Connectedtrue
    Utilities:Water Connectedtrue
    View:Mountain(s)true
    Walls:Drywalltrue
    Walls:Panelingtrue
    Water:Publictrue
    Window Features:Double Pane Windowstrue
    Videos: (none)
    Virtual Tours: (none)
Listing Courtesy:
Country Living Realty
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