1935 Elk Springs Way, Gatlinburg, TN 37738

$795,000 Asking Price

3 beds
3 baths
2,610  sqft
Built in 2006

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.

Features & Amenities

Interior

General:
Cathedral Ceiling(s), Ceiling Fan(s), Great Room, High Speed Internet, Wet Bar
Appliances:
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Laundry:
Electric Dryer Hookup, Washer Hookup
Flooring:
Wood
Fireplace:
Gas Log, Fireplace, Fireplaces: 1

Exterior

General:
Rain Gutters
Style:
Cabin, Log
Pool:
Hot Tub
Parking:
Asphalt, Driveway, Paved

Construction

Roofing:
Metal
Windows:
Double Pane Windows, Window Treatments
General:
Log, Log Siding, Wood Siding

Location

Road/Access:
Private Road
HOA Amenities:
Other, Cable TV, Internet, Maintenance Grounds, Roads, Water, 150.0, Monthly
Originating MLS:
Great Smoky Mountains Association of REALTORS®
County:
Sevier

Lot

Zoning:
R-1, 107 116.00
Fencing:
None

Utilities

Utilities:
Cable Available, High Speed Internet Available
Water:
Public
Sewer:
SharedSeptic

Financial

Source:
Great Smoky Mountains Association of REALTORS®

This listing courtesy of:
Smoky Mountain Real Estate Cor

About Gatlinburg, TN

Housing

Number of Units
5,691
Median Home Value
$223,661
Median Rent
$636

29.55% of housing units are renter occupied.

65.74% are vacant.

Commute

Car
70.63%
Public Transportation
3.19%
Walk to Work
10.84%
Work from Home
13.79%
Other
1.30%

The median travel time to work is 18 minutes.

People

Population
4,427
Median Age
47.20
Median Household Size
2.42

Education

High School
30.68%
Associate’s Degree
7.74%
Bachelor’s Degree
15.58%
Graduate Degree
6.92%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

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