#708173, Jamey Southerland, Listing office: Keller Williams Properties
Property details
About 2480-2482 Elk Way
Incredible investment opportunity with panoramic Smoky Mountain views! This unique property offers multiple income streams and nearly 2 acres of land. Included is a spacious 3-bedroom, 4-bath main home plus a fully-rented tri-plex with three 1-bedroom units ? each offering 1,136 sq. ft. of living space. Projected rental income for all four units totals approximately $5,500 per month. The main home, built in 1984, offers approximately 2,350 sq. ft., a fenced yard perfect for pets, a brand-new back deck, and a new roof. It also features a 2-car attached garage and plenty of outdoor space for entertaining or relaxing with guests. Each townhome in the tri-plex has been updated with a new HVAC system and new roof. All four units are separately metered for water and electricity, making management simple. Whether you choose to live in the main house and manage the rentals next door, or rent them all out, this property offers flexibility and strong cash flow in a high-demand area.
Highlights
Home typeMulti Family
HeatingCentral
StatusActive
CoolingCentral Air
Lot size1.93 Acres
Year built1984
ParkingGarage Door Opener, Other
MLS #9982580
Garage2 spaces
FireplaceBrick
ViewMountain(s)
Summary
- Appliances: Dishwasher, Range, Refrigerator
- Basement: No
- Flooring Type: Vinyl, Carpet
- Interior: Other
- Fireplace: Brick
- Garage Space: 2 spaces
- Attached Garage: No
- Parking: Garage Door Opener, Other
- View: Mountain(s)
- Exterior: Other
- Architectural Style: Townhouse, Traditional
- Heating: Central
- Cooling: Central Air
- List Price: $749,999
- Directions: Continue on US-321. Drive to Elk Way 8 min (5.0 mi) Merge onto US-321 ? 203 ft Continue straight to stay on US-321 ? Pass by Wendy's (on the right in 0.3 mi) ? 4.1 mi Turn left onto Early Rd/Old Hwy 32 ? Continue to follow Old Hwy 32 ? 0.6 mi Turn left onto O'Neil Rd ? 0.2 mi Turn left onto Elk Way
- Year Built: 1984
- Lot Size: 1.93 Acres
- MLS Number: 9982580
- MLS Name: Tennessee/Virginia Regional MLS
- Office Name: Your Home Sold Guaranteed Realty
- Office Phone: (865) 365-2280
- Office Email: info@yourhomesoldguaranteedtn.com
- Listing Agent: Joseph Fernandez
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Tennessee Virginia Regional MLS. IDX information is provided exclusively 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. Real estate listings held by brokerage firms other than this brokerl, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Copyright© 2025 Tennessee Virginia Regional MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/14/2025, 6:40:34 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Price information
Property sales
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Tax history
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Nearby schools
5
Catons Chapel Elementary School
Public District PK-6
14.6 mi
•3135 Catons Chapel Rd
5
Pittman Center Elementary School
Public District PK-6
14.6 mi
•2455 E Parkway
6
Dandridge Elementary School
Public District PK-5
15.3 mi
•780 Highway 92 S
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 $31,657. Residents of Newport, TN typically earn less than $<35k each year. The majority of families are married, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
57%
<35k
36%
35k-100k
7%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
32%
Single, No Kids
14%
Single, with Kids
34%
Married, No Kids
20%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
8%
12-17 yrs old
17%
18-34 yrs old
46%
35-64 yrs old
16%
65+ yrs old
What do the neighbors do for fun?
NASCAR
Monster Trucks
Hunting
Where do the neighbors shop?
Dollar General
Wal-Mart
Bass Pro Shops
Where do the neighbors go to eat?
Hardee's
Jimmy Johns
Applebees
What do the neighbors drive?
GMC
Chevrolet
Ram
What do the neighbors listen to?
Classic Country- Country
New Country
All data provided by Home Junction and Claritas
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Frequently asked questions
About 2480-2482 Elk Way
The listing price of 2480-2482 Elk Way property is $749,999.
The property 2480-2482 Elk Way is a multi located in Newport, Tennessee, 37821.
Active Listing: 2480-2482 Elk Way is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 2480-2482 Elk Way are: Catons Chapel Elementary School (GreatSchools Rating 5/10), Pittman Center Elementary School (GreatSchools Rating 5/10), Dandridge Elementary School (GreatSchools Rating 6/10), Cosby Elementary School (GreatSchools Rating 5/10), Newport Grammar School (GreatSchools Rating 8/10), Edgemont Elementary School (GreatSchools Rating 5/10), Cosby High School (GreatSchools Rating 4/10), Cocke County High School (GreatSchools Rating 4/10), Gatlinburg Pittman High School (GreatSchools Rating 7/10).
The year of construction for 2480-2482 Elk Way is 1984.
This home is located at 2480-2482 Elk Way in Newport, TN and zip code 37821. Features: 0 bathroom. It has been listed on Rocket Homes since July 2, 2025 and is currently priced at $749,999.
While more than 4 listings in Newport, TN in June 2025 were sold above asking price, there were more than 2 listings sold at asking price, and more than 12 were sold below. The inventory of homes for sale in Newport, TN between May and June 2025 decreased by 8%. The median list price of listings available in June 2025 was $265,000, while the average time on the real estate market was 37 days.
From Rocket Homes Real Estate and based on county public records data.