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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FeaturesInteriorInterior Amenities Ceiling Fan(s) Eat-in Kitchen Formal Dining High Speed Internet Kitchen Island Laminate Counters Walk-In Shower(s)
Basement None
Flooring Carpet Tile
Total Fireplaces 1
Fireplace Features Wood Burning
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Window Features Double Pane Windows
Fireplace Y/N Y
Above Grade Finished Area 2569.0
Half Baths 0
Laundry Features Electric Dryer Hookup In Garage Washer Hookup
Total Bedrooms 3
Below Grade Finished Area 0.0
Main Level Bedrooms 1
Main Level Bathrooms 2
Total Baths 4
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GeneralSewer Septic Tank
Heating Heat Pump
Cooling Heat Pump
Utilities Cable Connected Electricity Connected Water Connected
Possession Close Of Escrow
Roof Tar/Gravel
Appliances Dishwasher Dryer Electric Cooktop Electric Range Electric Water Heater Refrigerator Washer
Zoning Residential
Garage Spaces 2.0
Patio/Porch Features Deck
Architectural Style Ranch
Construction Materials Wood Siding
Pets Allowed Yes
Year Built 1984
Electric 220 Volts
View Mountain(s)
Levels One and One Half
Property Subtype Single Family Residence
Tax Year 2025
Current Use Investment Ranch Residential
County Cocke
New Construction N
Property Type Residential
HOA N
Attached Garage Y
Subdivision Name None
Garage Y/N Y
Total Rooms 0
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
High School Cosby High
City Newport
Disclosures Seller Disclosure
MLS Area Cocke County
Lot Size Units Acres
Lot Size Square Feet 50094.0
Carport Y/N N
Elementary School Cosby Elementary
Property Attached Y/N N
Land Lease Y/N N
Tax Annual Amount 1245.7
Home Warranty Y/N N
Current Financing Contract Conventional FHA
MLS Area Minor Cocke County
Additional Parcels Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Tenant
Tax Lot 13R
Senior Community None
Occupancy Either
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ExteriorExterior Amenities Rain Gutters
Fencing Chain Link
Parking Features Driveway Garage Garage Door Opener Gravel
Lot Features Front Yard Irregular Lot Level Country Setting
Water Source Public
Lot Size Area 1.15
Spa N
Building Area Total 2569.0
Lot Dimensions 232x216x174x275
Lot Size Acres 1.15
Road Surface Type Gravel
Lot Size Source Survey
Waterfront Y/N N
Horse 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 $417,174
Percent of Sale Price 7%
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.
4688123 Elementary School
4688121 Middle School
Cosby High High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 1/26/2026 | $388,800 | | Listed Price |