208 Amet WAY Cosby, TN 37722
3 Beds
4 Baths
4,115 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Cabin
Listing Status Active
Purchase Type For Sale
Square Footage 4,115 sqft
Price per Sqft $194
MLS Listing ID 308142
Style Cabin,Log
Bedrooms 3
Full Baths 3
Half Baths 1
HOA Y/N Yes
Abv Grd Liv Area 2,835
Year Built 2008
Annual Tax Amount $2,984
Tax Year 2024
Lot Size 0.760 Acres
Acres 0.76
Property Sub-Type Cabin
Source Great Smoky Mountains Association of REALTORS®
Land Area 4115
Property Description
Now let's talk numbers, where the cabin really shines. It is aggressively priced at less than $200 per square foot, which is unheard of in our market, let alone for an indoor pool cabin with some updates. Looking to invest in a cabin while also taking advantage of the 100% bonus depreciation and cost segregation? It would be difficult to find a property more ideal. The current land to overall property assessed value ratio at the County for property tax purposes is only 7.8%. With so much value assigned to the structure and its components and so little to the land this enables you to depreciate considerably more upfront than the vast majority of other properties in our area. The difference is even more stark when you look at beach markets where the land value is typically a far higher proportion of the overall property value.
The new owner has the option of self managing the property or using any management company they wish. The GRM (Gross Rental Multiplier) on this property with its listing price of only $799,900 is substantially better than the vast majority of other properties in our market, making this an appealing investment.
And best yet, the cabin is located a very short little jaunt of only 0.9 miles from the Cosby Entrance to the Great Smoky Mountains National Park. You or your guests could be fly fishing for trout in the beautiful streams and creeks of the National Park in a matter of a couple minutes. Many popular hiking trails are accessed from the Cosby Entrance Road a short distance away. If shopping and Gatlinburg is more your guests thing, then Gatlinburg city limits are less than 20 minutes away. How about golfing at award winning Bent Creek Golf Course or Ziplining at ClimbWorks (the highest rated Zipline in the Smokies)? Both are less than 10 miles away and have easy access on Highway 321. The location also offers easy access to I-40 to the East for those times when traffic getting in/out of Gatlinburg are heavy. Not to mention no steep roads to get to or access the cabin! Come check out one of the best investment cabins on the market now in our area, I don't think you'll be disappointed! (Please note in the photos some of the furniture has been replaced or rearranged, but is largely the same. The red carpet depicted in some of the photos has been recently updated by the seller to a wood look LVP). The cabin has recently been switched to a different management company.
Location
State TN
County Cocke
Zoning R-1
Direction Gatlinburg 321 to Cosby. Turn right at the ''T'' and then turn right into Maranatha Resort on your right past the school. Follow the road to 208 Amet Way on your left.
Interior
Interior Features Ceiling Fan(s), High Speed Internet, Soaking Tub
Heating Electric, Heat Pump
Cooling Electric, Heat Pump
Flooring Carpet, Hardwood, Luxury Vinyl
Fireplaces Number 1
Furnishings Furnished
Fireplace Yes
Window Features Blinds,Double Pane Windows,Window Coverings,Window Treatments,Wood Frames
Appliance Dishwasher, Dryer, Electric Cooktop, Electric Range, Microwave, Washer
Exterior
Exterior Feature Rain Gutters
Pool Gunite, Heated, Indoor, Pool Cover
Community Features Other
Utilities Available Cable Connected, Electricity Connected, High Speed Internet Connected, Water Connected
Amenities Available Other
Roof Type Composition
Porch Covered, Deck, Porch
Garage No
Building
Lot Description Front Yard, Subdivided, Wooded
Story 3
Sewer Septic Tank
Water Public
Architectural Style Cabin, Log
Structure Type Frame,Log,Log Siding,Wood Siding
New Construction No
Others
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional