2480 Elk Way
Newport, TN, 37821 $ 388,800
Bedrooms3 Baths4.0 Sq 2,569 Monthly Estimate*
$ 2,394
for $388,800 with 3 bedrooms and 4 full baths. This 2,569 square foot home was built in 1984 on a lot size of 1.15.
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 offers 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.
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FeaturesGeneralLiving Area 2569.0
Sewer Septic Tank
Heating Heat Pump
Cooling Ceiling Fan(s) Heat Pump
Utilities Electricity Connected Water Connected
Possession Close Of Escrow
Roof Shingle
Appliances Dishwasher Dryer Electric Cooktop Electric Range Electric Water Heater Refrigerator Washer
Garage Spaces 2.0
Patio/Porch Features Rear Porch Side Porch
Architectural Style Ranch
Pool Features None
Construction Materials Wood Siding
Year Built 1984
Electric 220 Volts in Laundry
Levels One and One Half
Property Subtype Single Family Residence
Tax Year 2025
Parcel Number 083 03905 000 083 03908
County Cocke
New Construction N
Property Type Residential
HOA N
Attached Garage Y
Garage Y/N Y
Other Structures None
Total Rooms 7
Full Baths 4
Status Active
Directions 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 t
City Newport
Senior Community Y/N N
Lot Size Units Acres
Lot Size Square Feet 50094.0
Carport Y/N N
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 1245.7
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Structure Type House
Standard Status Active
Occupancy Type Tenant
Year Built Effective 2005
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InteriorInterior Amenities Eat-in Kitchen Ceiling Fan(s) Double Vanity High Ceilings Open Floorplan Primary Downstairs
Flooring Carpet Tile
Total Fireplaces 1
Fireplace Features Living Room Wood Burning
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Window Features Bay Window(s) Double Pane Windows Tilt Windows Vinyl Frames
Fireplace Y/N Y
Above Grade Finished Area 2569.0
Half Baths 0
Laundry Features In Garage Main Level
Total Bedrooms 3
Below Grade Finished Area 0.0
Main Level Bedrooms 1
Main Level Bathrooms 2
Total Baths 4
Heating-Heat Pump True
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ExteriorExterior Amenities Rain Gutters
Fencing Chain Link
Parking Features Asphalt
Lot Features Cleared Gentle Sloping Irregular Lot Level Open Lot Views
Water Source Public
Inclusions Refrigerator Range Cooktop Dishwasher
Lot Size Area 1.15
Spa N
Lot Dimensions 232x216x174x275
Lot Size Acres 1.15
Road Surface Type Gravel
Waterfront Y/N N
Road Frontage Type Easement Private Road
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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* Excluded FeaturesList ByCountry Living RealtyBroker
Affordability Calculator
- Monthly Principal & Interest
- $2,394
- Monthly Property Taxes
- $104
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Newport, TN
Average List Price $427,504
Percent of Sale Price 10%
About Newport, TN 7,461 Population
5% Since 2002
$ 22,588 Median Income
41.04 Median Age
24% Households with Children
Trends Information provided by ATTOM Data Solutions.
2484365 Elementary School
2484217 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 1/30/2026 | $388,800 | | Listed Price |