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    1011 Margit Worsham Way

    Gatlinburg, TN 37738
    • $2,300,000
    • STATUS: Active Under Contract
    • ON SITE: 50 Days
    • ID#: 244798
    Under Contract
    UPDATED: 147 min ago
    $2,300,000
    • 5
      BEDS
    • 1.08
      ACRES
    • 5
      BATHS
    • 2
      1/2 BATHS
    • 5,435
      SQFT
    • $423
      $/SQFT
    Neighborhood:
    Type:
    Single-Family Home
    Built:
    2009
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Century 21 Legacy Pf.


    Description

    Resting on one of the most desirable lots at the top of sought after Estates at Norton Creek, you'll find this rustically elegant "Mountain Shingle" style estate home. Construction of the highest quality on a very private one acre homesite perched on a walkable mountain top lot with panoramic views of the Smokies and Mount LeConte. Beautiful details abound in this spacious, 5BD/5BA, 2-half BA, 5,400+ sq ft mountain home, such as use of historic materials incorporated from owner's family Virgina farm. Special features include a variety of hardwoods, cathedral ceilings, coffered ceiling, two laundry rooms, reading den, fenced yard for pets, open decks, covered patio, fire pit, screened porch with a mountain stone fireplace and integrated stone pizza oven, attached two car garage and level parking. Ideal for use as a permanent residence, second home, or as an overnight rental. Currently used as a hybrid second home/rental property (it's often occupied by the owner's and their guests) it still generates around $100k annually. The current rental manager projects up to $200k in gross rental income with less owner use- it has tremendous rental potential. For instance, convert the existing two car garage into an additional amenity with the addition of a swim spa and roll up glass garage doors. There is also an unfinished lower level room that would make an excellent theatre room and a space over the garage that could be a bunk room. Additions such as these could push the gross rental income well over $250k/year. About the location-The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. This neighborhood started life as part of a private 3,000+ acre ranch and is the only portion of that large, private holding to be developed. It boasts a stunning setting that begins with the entrance along beautiful Norton Creek off the Foothills Parkway between Pigeon Forge and Gatlinburg. Use of the world class fly fishing stream is reserved for residents and their guests, along with the charming creek side owner's pavilion. It's a short drive to Pigeon Forge, Gatlinburg, and the Great Smoky Mountains National Park entrance as well. Come see it, you will instantly fall in love!

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    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Tennessee Elite Realty. Information deemed reliable but not guaranteed. Last updated 2021-10-21T00:15:30.68.
    www.tennesseeeliterealty.com/homes/120987398
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    1011 Margit Worsham Way Gatlinburg, TN 37738

    • Price: $2,300,000
    • Status: Active Under Contract
    • Updated: 147 min ago
    • ID#: 244798
    5
    Beds
    5
    Baths
    2
    ½ Baths
    1.08
    Acres
    5,435
    SQFT
    $423
    $/SQFT
    2009
    Built
    Neighborhood:
    Estates at Norton Creek
    County:
    Sevier
    Area:
    Gatlinburg
    Property Description
    Resting on one of the most desirable lots at the top of sought after Estates at Norton Creek, you'll find this rustically elegant "Mountain Shingle" style estate home. Construction of the highest quality on a very private one acre homesite perched on a walkable mountain top lot with panoramic views of the Smokies and Mount LeConte. Beautiful details abound in this spacious, 5BD/5BA, 2-half BA, 5,400+ sq ft mountain home, such as use of historic materials incorporated from owner's family Virgina farm. Special features include a variety of hardwoods, cathedral ceilings, coffered ceiling, two laundry rooms, reading den, fenced yard for pets, open decks, covered patio, fire pit, screened porch with a mountain stone fireplace and integrated stone pizza oven, attached two car garage and level parking. Ideal for use as a permanent residence, second home, or as an overnight rental. Currently used as a hybrid second home/rental property (it's often occupied by the owner's and their guests) it still generates around $100k annually. The current rental manager projects up to $200k in gross rental income with less owner use- it has tremendous rental potential. For instance, convert the existing two car garage into an additional amenity with the addition of a swim spa and roll up glass garage doors. There is also an unfinished lower level room that would make an excellent theatre room and a space over the garage that could be a bunk room. Additions such as these could push the gross rental income well over $250k/year. About the location-The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. This neighborhood started life as part of a private 3,000+ acre ranch and is the only portion of that large, private holding to be developed. It boasts a stunning setting that begins with the entrance along beautiful Norton Creek off the Foothills Parkway between Pigeon Forge and Gatlinburg. Use of the world class fly fishing stream is reserved for residents and their guests, along with the charming creek side owner's pavilion. It's a short drive to Pigeon Forge, Gatlinburg, and the Great Smoky Mountains National Park entrance as well. Come see it, you will instantly fall in love!
    Exterior Features

    Access Private DrivePrivate RoadGated CommunityPaved Construction MasonryWood SidingFrame Exterior Features DeckScreened PorchDouble Pane WindowsSurfaced DriveWoodedGuttersPatioPrivate Yard Foundation BasementSlab Garage Capacity 2.00 Garage Type Attached Garage Lot Dimensions 153.5/N/A/158.7/302.4 Roof Composition Style ChaletCraftsman

    Interior Features

    Appliances DryerRefrigeratorWasherElectric RangeMicrowaveGarbage DisposalDishwasherDouble OvenRange HoodSmoke Detector Attic None Basement Walk OutFullOutside Entrance Bedroom2 Comments Master Suite W/Priv. Ba Bedroom2 Level First Bedroom3 Comments Incl. Priv. Ba/Office Use Bedroom3 Level First Bedroom4 Comments Master Suite W/Priv. Ba Bedroom4 Level Basement Bonus Rooms Yes Cooling Electric Heat Pump Den Comments Outer Den; Great Rm Adj. Dining Room Comments Part Of Great Room Fireplace Masonry3 Or MoreGas LogWoodburning Great Room Comments Living/Dining Rm/Kitchen Heating PropaneElectric Heat Pump Interior Features Recreation RoomWalk-In ClosetWood FloorsCathedral CeilingGarage Door OpenerLarge Master BedroomSecurity SystemW/D ConnectionCeiling Fan(S)Great RoomWet BarMedia RoomSolid Surface CountertopsWhirlpoolWindow Treatment Kitchen Comments Part Of Great Room Living Room Comments Part Of Great Room; F/P Master Bedroom Comments Master Suite W/Priv. Ba Master Bedroom Level First Master Bedroom Size 17.10'X14' Number Of Bonus Rooms 1 Number Of Rooms 18 Recreation Room Comments Large Rec Rm/Media Rm Sq Ft Above Grade 3328 Sq Ft Finished Basement 2107 Sq Ft Unfinished Basement 1008 Stories Two Utility Room Comments Side-By-Side W/D

    Property Features

    Annual Tax 5724.10 Construction Type Site Built District 11 Hoa Fees 2000.00 Hoa Fees Payment Frequency Annually Hoa Includes Club HouseRoads Hoa Name Estates At Norton Creek Hoa Hoa Type Mandatory Hoa YN Yes Lot Block Unit H-1 Miscellaneous Planned Unit DevelopmentPrivateMountain View Occupancy Either Owner Financing No Proposed Financing CashConventional1031 Exchange Rental Off SiteRental History Residential Type Single Family Restrictive Covenants Yes School Bus Service Gatlinburg-Pittman 9-12Pi Beta Phi K-8 Sewer Septic SystemCommunity System Tax Year 2016 Water Well Zoning Rr-1 Zoning Entity Gatlinburg

    Copyright 2021 Great Smoky Mountains Association of Realtors. Information deemed reliable but not guaranteed. Listing provided courtesy of Century 21 Legacy Pf | Office Phone: 8654362121 .

    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Tennessee Elite Realty. Information deemed reliable but not guaranteed. Last updated 2021-10-21T00:15:30.68.
     
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    621 Wall St.
    Sevierville TN, 37862
    Listing courtesy of Century 21 Legacy Pf.