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2480 Elk Way

Newport, TN 37821
  • $579,900
  • STATUS: Active
  • ON SITE: 38 Days
  • MLS #: 9936647
$579,900
  • 6
    BEDS
  • 1.99
    ACRES
  • 7
    BATHS
  • 0
    1/2 BATHS
  • 5,418
    SQFT
  • $107
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1984
County:

School Information

Elementary School:
Middle School:
High School:

Description

If you are looking for a great investment opportunity with amazing Smoky Mountain views, look no further! The 3 bedroom 4 bathroom home could be put on a Short Term Rental program such as VRBO or AirBNB and generate a healthy cash flow. The property also includes 3 1 bedroom townhomes that are currently rented and generating $18K+ per year. Approx 2 acres of property including an extra lot that has already perked for 3 additional 1 bedroom townhomes or tiny homes. You could live in the house and manage the rentals to keep even more money in your pocket! There are truly a number of opportunities. Located less than 10 minutes off I40, 45 minutes to Dollywood, 50 minutes to Knoxville, and a little over an hour to Asheville. If fishing and boating are more your style Douglas Lake access is only 20 minutes away. Enjoy all that East TN has to offer OR advertise the vacation lifestyle to make this a truly special income producing investment.

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© 2022 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2022-05-29T00:00:06.497.
www.conservusrealestategroup.com/homes/127879776
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2480 Elk Way Newport, TN 37821

  • Price: $579,900
  • Status: Active
  • On Site: 38 Days
  • MLS #: 9936647
6
Beds
7
Baths
0
½ Baths
1.99
Acres
5,418
SQFT
$107
$/SQFT
1984
Built
Neighborhood:
Not In Subdivision
County:
Cocke
Elementary School:
Out Of Area
Middle School:
Out Of Area
High School:
Out Of Area
Property Description
If you are looking for a great investment opportunity with amazing Smoky Mountain views, look no further! The 3 bedroom 4 bathroom home could be put on a Short Term Rental program such as VRBO or AirBNB and generate a healthy cash flow. The property also includes 3 1 bedroom townhomes that are currently rented and generating $18K+ per year. Approx 2 acres of property including an extra lot that has already perked for 3 additional 1 bedroom townhomes or tiny homes. You could live in the house and manage the rentals to keep even more money in your pocket! There are truly a number of opportunities. Located less than 10 minutes off I40, 45 minutes to Dollywood, 50 minutes to Knoxville, and a little over an hour to Asheville. If fishing and boating are more your style Douglas Lake access is only 20 minutes away. Enjoy all that East TN has to offer OR advertise the vacation lifestyle to make this a truly special income producing investment.
Exterior Features

Exterior Features Balcony Exterior Finish Vinyl Siding Foundation Block Lot Dimensions Irr Parking Features AttachedGravel Porch Patio Deck CoveredDeckPorch Roof Shingle Style OtherSee RemarksTownhouseTraditional Topography Lot Description Rolling Slope Walls Drywall Window Features Insulated Windows

Interior Features

Ac Central Air Appliances DishwasherRange Basement Crawl Space Building1 Number Half Baths 1.00 Building2 Number Half Baths 1.00 Building3 Half Baths 1.00 Building4 Half Baths 0.00 Fireplace Living Room Flooring CarpetHardwoodTile Heating CentralElectric Interior Features Smoke Detector(S)Walk-In Closet(S) Laundry Features Electric Dryer HookupWasher Hookup Number Fireplaces 1 Other Rooms See Remarks

Property Features

Auction No Building1 Monthly Rent 500 Building1 Number Units 1 Building2 Monthly Rent 500 Building2 Number Units 1 Building3 Monthly Rent 550 Building3 Number Units 1 Building4 Monthly Rent 7000 Building4 Number Units 1 City Taxes 0.00 County Taxes 2909.74 Easements None Expenses Include Lawn MaintProperty InsuranceRepairs And MaintTaxes Real EstateWater/Sewer Financing CashConventional Foreclosure No Income And Expenses Annual Operating Expenses 4310 Income And Expenses Annual Utility Expenses 600 Income And Expenses Gross Annual Income 18600 Income And Expenses Net Annual Income 14290 Income And Expenses Vacancy Rate Percent 0.00 Property Condition Average Property Sub Type Multi-Family Sewer Septic Tank Short Sale No Utilities Cable Available Water Public Zoning Residential

Listing information © 2022 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Amy Shrader of Remax Real Estate Ten Of Morristown.



© 2022 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2022-05-29T00:00:06.497.
 
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Conservus Real Estate Group
402 East Main Street
Kingsport TN, 37660