208 Amet Way, Cosby, TN 37722
Local realty services provided by:ERA In The Smokies Realty & Rentals
208 Amet Way,Cosby, TN 37722
$799,900
- 3 Beds
- 4 Baths
- 4,115 sq. ft.
- Single family
- Active
Listed by:jay fradd
Office:smoky mountain real estate cor
MLS#:308142
Source:TN_GSMAR
Price summary
- Price:$799,900
- Price per sq. ft.:$194.39
About this home
Cherokee Lodge checks all the boxes for a successful short term rental cabin. The large gunite indoor pool is much larger than most in the area with three bedrooms, or no matter the size actually. The gently sloping land on over 3/4 acre lends itself perfectly for the outdoor fire pit and other outdoor amenities/fun. Guests can also keep themselves entertained with the large dedicated private theater room and separate game room. Each of the three bedrooms is large, spacious, and easily accommodates guests in comfort.
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.
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Home facts
- Year built:2008
- Listing ID #:308142
Rooms and interior
- Bedrooms:3
- Total bathrooms:4
- Full bathrooms:3
- Half bathrooms:1
- Living area:4,115 sq. ft.
Heating and cooling
- Cooling:Electric, Heat Pump
- Heating:Electric, Heat Pump
Structure and exterior
- Year built:2008
- Building area:4,115 sq. ft.
- Lot area:0.76 Acres
Utilities
- Water:Water Connected
Finances and disclosures
- Price:$799,900
- Price per sq. ft.:$194.39
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