$1,100,000
$1,100,000
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5 Beds
3 Baths
4,200 SqFt
SOLD DATE : 05/31/2023
Key Details
Sold Price $1,100,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 4,200 sqft
Price per Sqft $261
Subdivision Valley Home Estates
MLS Listing ID 256684
Sold Date 05/31/23
Style Cabin,Log
Bedrooms 5
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 4,200
Originating Board Great Smoky Mountains Association of REALTORS®
Year Built 1995
Annual Tax Amount $1,190
Tax Year 2022
Lot Size 1.250 Acres
Acres 1.25
Property Description
This is an exceptional opportunity to acquire a profitable rental property located in a highly desirable vacation destination. The property boasts a unique feature, allowing it to be rented as either a 5-bedroom or a 3-bedroom and 2-bedroom configuration, thereby catering to various group sizes. Furthermore, it comprises two rentals on a single plot, providing a potential source of additional income. We have secured a guarantee of $170,000 in gross revenue from a reputable local property management firm at an 80/20 revenue sharing arrangement. The primary residence is well-appointed with three bedrooms and two bathrooms, complemented by a game room and theater room. The guest house includes two bedrooms and one bathroom, a capacious living area, and an adjacent game room. Additionally, the property offers captivating views of Cove Mountain from every angle. We have matterports of all three buildings, but our system will only let us upload one. Please reach out if you'd like to see a virtual walkthrough of each building.
Location
State TN
County Sevier
Zoning R-1
Direction Take US-321 S/Wears Valley Rd to Robeson Rd 17 min (9.4 mi) Turn right onto Parkway 1.5 mi Use the left 2 lanes to turn left onto Wears Valley Rd 0.2 mi Continue onto E Old Wears Valley Rd 217 ft Continue onto US-321 S/Wears Valley Rd Pass by Taco Bell (on the right) 7.6 mi Continue on Robeson Rd. Take Valley Home Rd to Valley High Rd 3 min (1.2 mi) Turn left onto Robeson Rd 0.7 mi Turn left onto Covemont Rd 0.2 mi Continue straight onto Valley Home Rd 0.3 mi Turn left onto Valley High Rd
Rooms
Basement Basement, Finished
Dining Room 1 true
Kitchen true
Interior
Interior Features Ceiling Fan(s), High Speed Internet, In-Law Floorplan
Heating Central, Electric
Cooling Central Air
Fireplaces Type Electric
Fireplace Yes
Window Features Double Pane Windows
Appliance Dishwasher, Dryer, Electric Range, Microwave, Refrigerator, Washer, Water Softener Owned
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Exterior Feature Rain Gutters
Waterfront No
Roof Type Composition
Porch Covered
Road Frontage County Road
Garage No
Building
Foundation Slab
Sewer Septic Tank, Septic Permit On File
Water Well
Architectural Style Cabin, Log
Structure Type Log
Others
Security Features Smoke Detector(s)
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
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