2520 Mountain Holly Way, Sevierville, TN 37862
$1,800,000
Property Type:
Residential
Bedrooms:
4
Baths:
5
Square Footage:
3,024
Lot Size (sq. ft.):
44,867
Status:
Closed
Current Price:
$1,800,000
List Date:
3/23/2022
Last Modified:
8/29/2024
Description
Owner agent JUST FELL THROUGH VIA BUYER'S FINANCING / Views! Location! Style! Indoor heated swimming pool! This cabin has it all! Located in the private and prestigious gated community of Waldens Ridge this mountain home is just 12 minutes from the Pigeon Forge Parkway. Floor to ceiling wall of glass features gorgeous mountain views from the living, dining, kitchen, and loft areas. A mix of rustic, industrial, and modern finishes adorn this home and pair nicely with the multi tone stained tongue and groove interior. Custom Midnight colored with rustic finish KrafMaid soft close cabinets are the focal point of the kitchen. Perched at the highest point of the subdivision this home offers stunning views of the Waldens Creek area, Bluff Mountain, and parts of the Chilhowee Ridge line. Sunsets are front and center from the back deck every evening. The indoor heated swimming pool is salt water and an industrial dehumidifier was just installed. The pool also features an auto fill system that drains the dehumidifier back into the pool. Pool heater was replaced DEC 2021. Floor plan layout is generous with the main floor featuring 2 suits with connected bathrooms, the upstairs has a generous primary suite with double vanities, walk-in double shower, and cathedral ceilings. The basement is all play with a dedicated bunk room, theater, mini arcade, and a full bath adjacent to the indoor pool. Spacious back decks offer plenty of room to enjoy the mountain scenery. An overnight rental powerhouse this home produced $152k in 2020 (June-Dec), $224k in 2021, and has done/has on the books $151k for 2022 (fall and 2nd half of the year holidays). Based on 2021 gross numbers, 20% down payment @ 4.5% interest this property is a 36% ROI and as an all cash purchase this is an 12.1% ROI. Feel free to request a performa for review.
More Information MLS# 248192
Location, Tax, and Legal
Restrictive Covenants YN: Yes
Zoning: R-1
Zoning Entity: Sevier County
Tax Lot: 51
Book/Page/Doc #: 5157, 325
Tax Annual Amount: 2325.47
Tax Year: 2019
Contract Information
Association Type: Mandatory
Owner Name: Korlin
Listing Agreement: Exclusive Right To Sell
Occupancy: Either
Rental History Gross Amount 1: 224392
Rental History Year 1: 2021
Rental History Gross Amount 2: 152762
Rental History Year 2: 2020
Association YN: Yes
Association Fee: 350
Association Fee Frequency: Annually
Association Name: Waldens Ridge HOA
Association Email: n/a
Current Price: $1,800,000
Original List Price: 2375000
Sold Price: $1,800,000
Status: Closed
Listing Contract Date: 2022-03-23
General Property Information
Lot Size Acres: 1.03
Above Grade Finished Area: 1848
Below Grade Finished Area: 1176
Below Grade Unfinished Area: 0
Garage YN: No
Bathrooms Half: 1
Garage Spaces: 0
Bonus Room YN: No
Furnished: Furnished
Accessory Dwelling Unit YN: No
Sign On Property YN: No
Home Warranty YN: No
Construction Type: Site Built
View YN: Yes
List Price/SqFt: 644.84
Sold Price/SqFt: 595.24
Living Area: 3024
Bedrooms Total: 4
Bathrooms Total: 5
Bathrooms Full: 4
Year Built: 2019
Remarks and Miscellaneous
Public Remarks: Owner agent JUST FELL THROUGH VIA BUYER'S FINANCING / Views! Location! Style! Indoor heated swimming pool! This cabin has it all! Located in the private and prestigious gated community of Waldens Ridge this mountain home is just 12 minutes from the Pigeon Forge Parkway. Floor to ceiling wall of glass features gorgeous mountain views from the living, dining, kitchen, and loft areas. A mix of rustic, industrial, and modern finishes adorn this home and pair nicely with the multi tone stained tongue and groove interior. Custom Midnight colored with rustic finish KrafMaid soft close cabinets are the focal point of the kitchen. Perched at the highest point of the subdivision this home offers stunning views of the Waldens Creek area, Bluff Mountain, and parts of the Chilhowee Ridge line. Sunsets are front and center from the back deck every evening. The indoor heated swimming pool is salt water and an industrial dehumidifier was just installed. The pool also features an auto fill system that drains the dehumidifier back into the pool. Pool heater was replaced DEC 2021. Floor plan layout is generous with the main floor featuring 2 suits with connected bathrooms, the upstairs has a generous primary suite with double vanities, walk-in double shower, and cathedral ceilings. The basement is all play with a dedicated bunk room, theater, mini arcade, and a full bath adjacent to the indoor pool. Spacious back decks offer plenty of room to enjoy the mountain scenery. An overnight rental powerhouse this home produced $152k in 2020 (June-Dec), $224k in 2021, and has done/has on the books $151k for 2022 (fall and 2nd half of the year holidays). Based on 2021 gross numbers, 20% down payment @ 4.5% interest this property is a 36% ROI and as an all cash purchase this is an 12.1% ROI. Feel free to request a performa for review.
Directions: From traffic light number three in downtown pigeon Forge take where's Valley Road and go 3.1 miles to a RIGHT onto Waldens Creek Rd (at a traffic light). Go 3 miles to the three-way intersection and turn LEFT onto North Clear Fork (will see a large lit up sign that says Shagbark and Waldens Ridge). Go .7 miles and turn left into Waldens Ridge. Continue on Cooper's Hawk way until a T intersection where you take a sharp RIGHT. Continue for .6 miles to a RIGHT onto Mountain Holly Way. Cabin is third on the RIGHT. There is a gate and you will need to get the code from Greg Korlin.
Status Change Information
Status Change Timestamp: 2022-08-22
Buyer Financing: Conventional
Anticipated Closing Date: 2022-07-21
Major Change Timestamp: 2022-08-22T17:10:00Z
Major Change Type: Status Change
Price Change Timestamp: 2022-06-08T18:56:58Z
Purchase Contract Date: 2022-06-09
Close Date: 2022-08-22
Close Price: 1800000
Appliances
Dishwasher: 1
Dryer: 1
Electric Range: 1
Microwave: 1
Range Hood: 1
Refrigerator: 1
Self Cleaning Oven: 1
Washer: 1
Water Purifier: 1
Water Softener Owned: 1
Architectural Style
Cabin: 1
Association Fee Includes
Insurance: 1
Maintenance Grounds: 1
Roads: 1
Attic Features
None: 1
Basement
Finished: 1
Construction Materials
Frame: 1
Log Siding: 1
Masonry: 1
Wood Siding: 1
Cooling
Central Air: 1
Heat Pump: 1
Exterior Features
Rain Gutters: 1
Fireplace Features
Fireplaces Total: 1
Gas Log: 1
Foundation Details
Slab: 1
Heating
Central: 1
Electric: 1
Heat Pump: 1
Laundry Features
Electric Dryer Hookup: 1
Washer Hookup: 1
Levels
Tri-Level: 1
Listing Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Patio And Porch Features
Deck: 1
Pool Features
Hot Tub: 1
Possession
Close Of Escrow: 1
Rental
Rental History: 1
Roof
Composition: 1
Metal: 1
Security Features
Gated Community: 1
Smoke Detector(s): 1
Sewer
Septic Tank: 1
Septic Permit On File: 1
View
Mountain(s): 1
Seasonal: 1
Water Source
Well: 1
Window Features
Double Pane Windows: 1
Showing Requirements
Call Listing Agent: 1
Showing Instructions: OWNER AGENT contact Greg Korlin for showings/ questions/ offers 865-643-2103 // gregkorlin@gmail.com. Cabin has a turn March 25th, April 2nd, open April 5th-9th. All disclosures are in the associated documents along with a performa, and gross rental income. 2022 numbers can be provided but come from the VRBO and AirBnB dashboards. ***Agents there is some ongoing construction next door to this home that the current photos do not reflect. Please disclose this to potential buyers. ***2 known broken window seals are present; I have 1 replacement on site and the other being delivered April 15th; will be installed in May.
See Remarks: 1
Location Tax and Legal
Street Number: 2520
Street Name: Mountain Holly
Street Suffix: Way
County: Sevier
State: TN
Zip Code: 37862
Property Sub Type: Single Family Residence
MLS Area Major: Sevierville
Subdivision Name: Waldens Ridge
Property Features
Appliances: Dishwasher; Dryer; Electric Range; Microwave; Range Hood; Refrigerator; Self Cleaning Oven; Washer; Water Purifier; Water Softener Owned
Architectural Style: Cabin
Association Fee Includes: Insurance; Maintenance Grounds; Roads
Attic Features: None
Basement: Finished
Construction Materials: Frame; Log Siding; Masonry; Wood Siding
Cooling: Central Air; Heat Pump
Exterior Features: Rain Gutters
Fireplace Features: Gas Log
Foundation Details: Slab
Heating: Central; Electric; Heat Pump
Laundry Features: Electric Dryer Hookup; Washer Hookup
Levels: Tri-Level
Listing Terms: 1031 Exchange; Cash; Conventional
Patio And Porch Features: Deck
Pool Features: Hot Tub
Possession: Close Of Escrow
Rental: Rental History
Roof: Composition; Metal
Security Features: Gated Community; Smoke Detector(s)
Sewer: Septic Tank; Septic Permit On File
View: Mountain(s); Seasonal
Water Source: Well
Window Features: Double Pane Windows
Showing Requirements: Call Listing Agent; See Remarks
Listing Office:
Century 21 MVP
Last Updated: August - 29 - 2024
Information deemed reliable but not guaranteed.