1838 Elk Springs Way Gatlinburg, TN 37738
Estimated payment $5,442/month
Total Views
3,737
5
Beds
4
Baths
3,276
Sq Ft
$274
Price per Sq Ft
Highlights
- Pool and Spa
- Mountain View
- Wood Flooring
- Gatlinburg Pittman High School Rated A-
- Deck
- 3 Fireplaces
About This Home
Your dream investment cabin has just hit the market! ''Diamond in the Rough'' is a five bedroom, four bath cabin in Elk Springs Resort just outside of Gatlinburg in the Glades Arts & Crafts Community. If you are looking for a turn key, hands off investment, this is the property for you. Based on total 2024 income and expenses the property produced over a 6% cap rate. With the rental income pacing of 2025 to exceed 2024 along with the ultra low list price of $274 per square foot the cabin has a higher appreciation potential than the vast majority of cabins on the market today.The cabin has produced a stellar rental income and the low operating costs create an appealing investment opportunity. The property features a view of Mt LeConte, along with top notch private theater room. The $200 monthly HOA fee is a bargain as it includes the water and Xfinity cable/internet which often is higher than $200 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 will heat effectively and efficiently! Operating costs are surprisingly low and among the very lowest you'll see for a five bedroom STR cabin of its size in Sevier County. Monthly averages of electric at $212, community septic $102, gas $109, the cable/internet/water all covered within the $200 HOA fee, and reasonable insurance costs ($224/month for current owner) equate to one of the lowest costs of operation for a quality five bedroom cabin in our market.There are decks and porches galore at ''Diamond in the Rough'' 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. ''Diamond in the Rough'' doesn't lack fun or amenities and this isn't your run of the mill theater room haphazardly thrown into a game room as a secondary thought. This cabin features a quality theater room with T&G walls for folks to watch their favorite shows in style! 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! The great rental income, convenient easy access location, and excellent bang for your buck HOA fees are a recipe for success in our short term cabin rental market. Community septic via Tennessee Wastewater/Adenus
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $4,110
Year Built
- Built in 2007
Lot Details
- Property fronts a private road
HOA Fees
- $200 Monthly HOA Fees
Property Views
- Mountain
- Seasonal
Home Design
- Log Cabin
- Brick or Stone Mason
- Frame Construction
- Metal Roof
- Wood Siding
- Log Siding
- Stone
Interior Spaces
- 3-Story Property
- Furnished
- Ceiling Fan
- 3 Fireplaces
- Double Pane Windows
- Window Treatments
- Wood Flooring
- Fire and Smoke Detector
- Dryer
Kitchen
- Electric Range
- Microwave
- Dishwasher
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Full Bathrooms
Outdoor Features
- Pool and Spa
- Deck
- Covered Patio or Porch
- Outdoor Gas Grill
- Rain Gutters
Utilities
- Shared Septic
- High Speed Internet
- Internet Available
- Cable TV Available
Community Details
- Association fees include cable TV, internet, roads, water
- Elk Springs Resort HOA, Phone Number (239) 464-5356
- Elk Springs Resort Subdivision
- Planned Unit Development
Listing and Financial Details
- Tax Lot 117
- Assessor Parcel Number 107 116.00
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $4,110 | $277,720 | $12,000 | $265,720 |
| 2023 | $4,110 | $277,720 | $0 | $0 |
| 2022 | $2,569 | $173,575 | $7,500 | $166,075 |
| 2021 | $2,569 | $173,575 | $7,500 | $166,075 |
| 2020 | $1,645 | $173,575 | $7,500 | $166,075 |
| 2019 | $1,645 | $88,425 | $7,500 | $80,925 |
| 2018 | $1,645 | $88,425 | $7,500 | $80,925 |
| 2017 | $1,645 | $88,425 | $7,500 | $80,925 |
| 2016 | $1,645 | $88,425 | $7,500 | $80,925 |
| 2015 | -- | $95,475 | $0 | $0 |
| 2014 | $1,556 | $95,480 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/03/2025 05/03/25 | For Sale | $899,000 | +55.0% | $274 / Sq Ft |
| 09/03/2019 09/03/19 | Sold | $580,000 | -- | $171 / Sq Ft |
Source: Great Smoky Mountains Association of REALTORS®
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $2,146 | -- | |
| Interfamily Deed Transfer | -- | None Available | |
| Deed | $135,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $435,500 | New Conventional | |
| Closed | $435,000 | No Value Available | |
| Closed | -- | No Value Available | |
| Previous Owner | $515,920 | No Value Available | |
| Previous Owner | $64,490 | No Value Available | |
| Previous Owner | $548,165 | No Value Available |
Source: Public Records
Similar Homes in Gatlinburg, TN
Source: Great Smoky Mountains Association of REALTORS®
MLS Number: 306285
APN: 107-116.00-117
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