1011 Margit Worsham Way, Gatlinburg, TN 37738
Overview
Description
Supplements: ... (Read more) parking. Ideal for use as a permanent residence, second home, or as an overnight rental. Currently used as a hybrid second home/rental property (it's often occupied by the owner's and their guests) it still generates around $100k annually. The current rental manager projects up to $200,000 in gross rental income with less owner use- it has tremendous rental potential. For instance, convert the existing two car garage into an additional amenity with the addition of a swim spa and roll up glass garage doors. There is also an unfinished lower level room that would make an excellent theatre room and a space over the garage that could be a bunk room. Additions such as these could push the gross rental income well over $250k/year. The location-The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. This neighborhood started life as part of a private 3,000+ acre ranch and is the only portion of that large, private holding to be developed. It boasts a stunning setting that begins with the entrance along beautiful Norton Creek off the Foothills Parkway between Pigeon Forge and Gatlinburg. Use of the world class fly fishing stream is reserved for residents and their guests, along with the charming creek side owner's pavilion. It's a short drive to Pigeon Forge, Gatlinburg, and the Great Smoky Mountains National Park entrance as well. Come see it, you will instantly fall in love!
Listing Details MLS# 1166013
Location Tax Legal Info
- House #
- 1011
- Street Name
- Margit Worsham
- St Suffix
- Way
- State/Province
- TN
- Zip Code
- 37738
- PIN #
- 125 010.28 000
- Subdivision
- Estates at Norton Creek
Contract Info
- Auction Y/N
- No
- Listing Price
- 2300000
- Occupancy
- Either
- Gross Amount Year 1
- 100000
General Property Description
- Type
- Basement Ranch
- Lot Size SqFt
- 47045
- Acres
- 1.08
- Acre Source
- Other
- Site Built
- Yes
- Restrictions
- Yes
- SqFt - Total (Aprox)
- 5435
- SqFt - Main Lvl
- 3328
- SqFt - Down Lvl
- 2107
- # Bedrooms
- 5
- Baths - Full
- 5
- Baths - 1/2
- 2
- # of Rooms
- 18
- Fireplace
- Yes
- # Fireplace
- 3
- Property Status
- N/A
- HOA
- Mandatory
- HOA Fee
- 2000
- HOA Freq
- Yearly
- HOA Contact
- Estates at Norton Creek (865) 988-1864
- Year Built
- 2009
- Bonus Room
- Yes
- Extra Storage
- Yes
Status Change Info
- Status Change Date
- 2021-10-22
- Under Contract Date
- 2021-09-14
- Sold Date
- 2021-10-20
More Information
Property Features
Room Information
| Room Name |
|---|
| Master Bedroom |
| Bedroom 2 |
| Bedroom 3 |
| Bedroom 4 |
| Bedroom 5 |
| Great Room |
| Rec Room |
| Utility Room |
| Utility Room |
| Other |
| Other |
| Other |
| Other |
| Other |
| Other |
| Other |
| Garage |
| Bonus Room |
| Other |