Under Contract

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 : 74699286

MLS Id : RTC3117059

Beds : 3

Lot Size : 1.15 Acres

Living Area Size : 2,569

Year Built : 1984

Garage : 2

County : Cocke County

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedroom: 3

Bathroom Information

Total Baths: 4 Full Baths: 4

Interior Features

Ceiling Fan(s), Kitchen Island Appliances: Dishwasher, Dryer, Range, Refrigerator, Washer Laundry Features: Washer Hookup, Electric Dryer Hookup
Flooring Information

Flooring: Carpet, Tile Construction Materials: Frame, Other
Heating & Cooling

Heating: Electric, Heat Pump Has Heating: Yes Cooling: Central Air, Ceiling Fan(s) Has Cooling: Yes WaterSource: Public

Building Information

Year Built: 1984

Lot Information

Lot Dimensions: 232x216x174x275 Lot Description: Other, Level, Rolling Slope Lot Size Area: 1.15 Lot Acres: 1.15

Property Information

Property Type: Residential Sub Type: Single Family Residence Style: Other

Listing Price Information

Original List Price:$388800

Tax Information

Tax Lot: 13R Annual Tax: $1246

Parking Information

Total Parking: 2 Garage Door Opener

Garage Information

Has Garage: Yes Garage Space: 2

School Information

Elementary School: Cosby Elementary Senior High School: Cosby High School
Utility Information

Electricity Available, Water Available Sewer: Septic Tank Water Source: Public
Location Information

City: Newport 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.

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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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ByOwner last updated this listing 06/11/2026 @ 18:20

MLS: REALTRAC #3117059 LISTED BY: Don Fabrikant, Country Living Realty 423-430-9012 SOURCE: REALTRAC (RT RealTracs) (Listings courtesy of REALTRAC (RT RealTracs) as distributed by MLS GRID)