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.