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2480 Elk Way

Newport, TN 37821

$388,800 $1,639/Mo

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Overview

Bed

Bath

2,569

Sqft

1.15

Acres(Lot)

Description

Turnkey Smoky Mountains Investment Opportunity - Single-Family Home with Mountain Views. Discover a well-maintained, income-producing single-family home in East Tennessee, ideally located near medical facilities, shopping, and dining—an excellent option for both investors and owner-occupants. This 3-bedroom, 4-bath residence offers 2,569 square feet, a two-car garage, and sits on 1.15 acres, providing strong rental potential and long-term value. The property features mountain views from both the front and rear, a partially fenced yard, and a peaceful setting attractive to both long-term tenants and short-term rental guests. Recent capital improvements include a new roof and new deck, minimizing near-term maintenance costs and enhancing overall asset quality. The open frontage land also off ers potential for future expansion or development (subject to zoning regulations). For investors, the adjacent income-producing tri-plex is also available and can be purchased as part of a package sale, creating a rare opportunity to acquire multiple cash-flowing properties in one transaction. Whether you're building a rental portfolio, entering the Smoky Mountains short-term rental market, or living on-site while generating income from neighboring rentals, this property delivers flexibility, location. Conveniently located approximately 53 minutes to Knoxville, 48 minutes to Pigeon Forge and Gatlinburg, and 45 minutes to Hot Springs, NC.

Property Details

Property Type : Residential

Price : $388,800

AD Id : 74591981

MLS Id : 9990558

Beds : 3

Lot Size : 1.15 Acres

Living Area Size : 2,569

Year Built : 1884

Garage : 2

County : Cocke

Subdivision: Northlake Manor

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 3

Bathroom Information

Total Baths: 4 Full Baths: 4

Room Information

Rooms Total: 7
Flooring Information

Carpet, Tile
Roofing Information

Shingle
Interior Features

Laminate Counters, Open Floorplan Roof: Shingle Appliances: Cooktop, Dishwasher, Dryer, Electric Range, Refrigerator, Washer Laundry Features: Electric Dryer Hookup Window Features: Double Pane Windows
Heating & Cooling

Has Heating: Yes Heating: Heat Pump Has Cooling: Yes Cooling: Ceiling Fan(s), Heat Pump

Building Information

Year Built: 1884 Building Area Total: 2569 Construction Materials: Wood Siding Patio And Porch Features: Rear Porch, Side Porch Private Pool: No View: Mountain(s)

Lot Information

Lot Dimensions: 232x216x174x275 Main Square Feet: 1.15 Acres Lot Size Acres: 1.15 Lot Size Square Feet: 50094

Property Information

Subdivision: Not In Subdivision Source Property Type: Residential MLS Area Minor: 208 - Cocke County Property SubType: Single Family Residence Levels: One and One Half Property Age: 142

Listing Price Information

Listing Price: $388800 Cash, Conventional, FHA

Tax Information

Parcel Number: 083 039.05

Parking Information

Driveway, Garage Door Opener, Gravel

Garage Information

Has Garage: Yes Garage Space: 2

School Information

Elementary School: Cosby

Junior High School: Cosby

Senior High School: Cosby
Utility Information

Cable Available, Electricity Connected, Water Connected, Cable Connected
Location Information

Direction: From Newport US-321 towards Cosby turn left onto Old 32, continue to follow old 32. Turn left onto O'Neil Rd then turn left onto Elk Way. Stay on Elk way see sign. From Cosby take US-321 onto Old 32 then follow the remaining directions. Property is GPS friendly. WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
PAR. 28.09 Piney Mtn. Rd, Newport, TN, 37821	$90,000	--	--	--
103 Hidden Estates Way, Newport, TN, 37821	$329,900	3	2	2,072	2,072 SqFt
1512 Red Bud Dr, Newport, TN, 37821	$199,000	3	2	1,560	1,560 SqFt
858 Burnett Drive, Newport, TN, 37821	$325,000	3	2	1,359	1,359 SqFt
264 Harvest St, Newport, TN, 37821	$199,900	3	2	1,344	1,344 SqFt
458 Warford Road, Newport, TN, 37821	$239,900	2	1	1,120	1,120 SqFt
425 Cliffwood Drive, Newport, TN, 37821	$399,900	2	2	922	922 SqFt
425 Cliffwood Drive, Newport, TN, 37821	$399,900	2	2	922	922 SqFt
631 6th St St, Newport, TN, 37821	$244,900	3	1	1,396	1,396 SqFt
328 Lincoln Avenue, Newport, TN, 37821	$259,900	5	3	1,419	1,419 SqFt

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Tennessee Virginia Regional MLS. 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. Real estate listings held by brokerage firms other than ByOwner, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 Tennessee Virginia Regional MLS. All Rights Reserved.

ByOwner last updated this listing 06/17/2026 @ 06:54

MLS: 9990558 LISTED BY: Don Fabrikant, Country Living Realty 423-430-9012 SOURCE: TennesseeVirginia Regional MLS