229 Maranatha Way, Cosby, TN 37722
Local realty services provided by:ERA In The Smokies Realty & Rentals
229 Maranatha Way,Cosby, TN 37722
$1,100,000
- 5 Beds
- 8 Baths
- 4,468 sq. ft.
- Single family
- Active
Listed by:jay fradd
Office:smoky mountain real estate cor
MLS#:308144
Source:TN_GSMAR
Price summary
- Price:$1,100,000
- Price per sq. ft.:$246.2
About this home
This cabin checks all the boxes for a successful short term rental cabin. The large gunite indoor pool is significantly larger than most in the Smokies. The nearly level land on over 1/2 acre lends itself perfectly for the outdoor fire pit and other outdoor amenities/fun. This lends itself perfect for additional amenities to boost the rental income even higher.
Guests can keep themselves entertained with the large dedicated private theater room and separate game room. Each of the bedrooms (5 plus one bonus room) are very spacious and easily accommodate guests in comfort.
Now let's talk numbers, where the cabin really shines. It is aggressively priced at less than $250 per square foot, considerably lower than most pool cabins in our market. Especially considering all the square footage is above grade and the indoor pool is located on the main level.
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 6.61%. 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 $1,100,000 with the type of income this cabin can produce 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! The cabin has been owned by the same owner since April 2017 with several updates completed to the property recently.(Please note in the photos some of the furniture has been replaced or rearranged, but is largely the same)
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Home facts
- Year built:2008
- Listing ID #:308144
Rooms and interior
- Bedrooms:5
- Total bathrooms:8
- Full bathrooms:6
- Half bathrooms:2
- Living area:4,468 sq. ft.
Heating and cooling
- Cooling:Electric, Heat Pump
- Heating:Electric, Heat Pump
Structure and exterior
- Year built:2008
- Building area:4,468 sq. ft.
- Lot area:0.63 Acres
Utilities
- Water:Water Connected
Finances and disclosures
- Price:$1,100,000
- Price per sq. ft.:$246.2
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