#306580, Listing office: Wallace Real Estate KP
1838 Elk Springs Way Gatlinburg, TN 37738
Property details
About 1838 Elk Springs Way
Your dream investment cabin has just hit the market! ''Diamond in the Rough'' is a five bedroom, four bath cabin in Elk Springs Resort just outside of Gatlinburg in the Glades Arts & Crafts Community. If you are looking for a turn key, hands off investment, this is the property for you. Based on total 2024 income and expenses the property produced over a 6% cap rate. With the rental income pacing of 2025 to exceed 2024 along with the ultra low list price of $274 per square foot the cabin has a higher appreciation potential than the vast majority of cabins on the market today.The cabin has produced a stellar rental income and the low operating costs create an appealing investment opportunity. The property features a view of Mt LeConte, along with top notch private theater room. The $200 monthly HOA fee is a bargain as it includes the water and Xfinity cable/internet which often is higher than $200 monthly on its own! Elk Springs Resort is also one of the few cabin communities that has natural gas (through Sevier County Utility District) so your fireplaces will heat effectively and efficiently! Operating costs are surprisingly low and among the very lowest you'll see for a five bedroom STR cabin of its size in Sevier County. Monthly averages of electric at $212, community septic $102, gas $109, the cable/internet/water all covered within the $200 HOA fee, and reasonable insurance costs ($224/month for current owner) equate to one of the lowest costs of operation for a quality five bedroom cabin in our market.There are decks and porches galore at ''Diamond in the Rough'' allowing for some great porch sitting and opening up opportunities for some outdoor living for guests. There is even a pretty decent view off the porches to take in the grandeur of the Smokies. ''Diamond in the Rough'' doesn't lack fun or amenities and this isn't your run of the mill theater room haphazardly thrown into a game room as a secondary thought. This cabin features a quality theater room with T&G walls for folks to watch their favorite shows in style! Opportunities for fun abound in the large game room area. The cabin is also tastefully decorated throughout.Elk Springs Resort and this cabin are ideally situated in the Gatlinburg Arts & Crafts community just east of Gatlinburg. The property is easily accessed without steep roads and just minutes from downtown Gatlinburg and even closer to the Gatlinburg Arts & Crafts Community on Glades Road. Schedule a showing and write an offer on this spectacular cabin - you won't be disappointed! The great rental income, convenient easy access location, and excellent bang for your buck HOA fees are a recipe for success in our short term cabin rental market. Community septic via Tennessee Wastewater/Adenus
Highlights
Summary
- Full Bathrooms: 4
- Appliances: Dishwasher, Dryer, Electric Range, Microwave, Refrigerator
- Flooring Type: Wood
- Total Bedroom Count: 5
- View: Mountain(s)
- Exterior: Gas Grill, Deck, Porch
- Architectural Style: Cabin, Log
- Cooling: Ceiling Fan(s)
- List Price: $899,000
- Price/SqFt: $274
- HOA Amount: $200 Monthly
- Annual Tax Amount: $2,569
- Tax Year: 2023
- Directions: From Gatlinburg, take 321 East. Turn Left onto Glades Road. Turn left onto Powdermill Road, then follow to Elk Springs Resort on your right. Once in Elk Springs veer left to remain on Elk Springs Way and follow to the property on your left (Diamond in the Rough) at 1838 Elk Springs Way.
- Year Built: 2007
- Stories: 3
- Living Area: 3,276 SqFt
- MLS Number: 306285
- MLS Name: GreatSmokyMountains
- Office Name: Smoky Mountain Real Estate Cor
- Office Phone: (865) 277-8115
Copyright Great Smoky Mountains Association of REALTORS ® & MLS. All rights reserved. Information is deemed reliable but not guaranteed. The information being provided is 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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/29/2025, 9:45:37 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$899,000
1838 Elk Springs Way
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
Year | Assessment | Property Tax |
---|---|---|
2023 | $277,720 | $2,569 |
2022 | $173,575 | $2,569 |
2021 | $173,575 | $2,569 |
2020 | $173,575 | $2,569 |
2019 | $88,425 | $1,645 |
2018 | $88,425 | $1,645 |
2017 | $88,425 | $1,645 |
History based on county public records data.
Nearby schools
5
Pittman Center Elementary School
Public District PK-6
2.7 mi
•2455 E Parkway
5
Catons Chapel Elementary School
Public District PK-6
3.0 mi
•3135 Catons Chapel Rd
4
Pi Beta Phi Elementary School
Public District PK-6
4.7 mi
•125 Cherokee Orchard Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $46,006. Residents of Gatlinburg, TN typically earn between $35k-100k each year. The majority of families are single, no kids. Typical level of education for residents in this area is high school diploma.
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Frequently asked questions
About 1838 Elk Springs Way
The listing price of 1838 Elk Springs Way property is $899,000.
The property 1838 Elk Springs Way is a house located in Gatlinburg, Tennessee, 37738.
Active Listing: 1838 Elk Springs Way is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 1838 Elk Springs Way are: Pittman Center Elementary School (GreatSchools Rating 5/10), Catons Chapel Elementary School (GreatSchools Rating 5/10), Pi Beta Phi Elementary School (GreatSchools Rating 4/10), Gatlinburg Pittman Junior High School (GreatSchools Rating 6/10), Pigeon Forge Junior High School (GreatSchools Rating 4/10), Pigeon Forge Intermediate School (GreatSchools Rating 4/10), Gatlinburg Pittman High School (GreatSchools Rating 7/10), Pigeon Forge High School (GreatSchools Rating 5/10), Sevier County High School (GreatSchools Rating 5/10).
According to the records, the last property tax for 2023 is $2,569 (source: MLS/based on county public records data).
The property at 1838 Elk Springs Way has 5 bedrooms and 4 bathrooms.
The property 1838 Elk Springs Way is 3,276 SqFt (source: MLS/tax record).
The year of construction for 1838 Elk Springs Way is 2007.
This home is located at 1838 Elk Springs Way in Gatlinburg, TN and zip code 37738. This 3,276 square foot home was built in 2007. Features: 5 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since May 3, 2025 and is currently priced at $899,000.
While more than 1 listings in Gatlinburg, TN in May 2025 were sold above asking price, there were more than 4 listings sold at asking price, and more than 19 were sold below. The inventory of homes for sale in Gatlinburg, TN between April and May 2025 increased by 13%. Listings spent 40 days on the market in May 2025, and had a median list price of $641,500 during the same period.