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1011 Margit Worsham Way, Gatlinburg, TN 37738
Overview
Description
Supplements: … (Read more) parking. Ideal for use as a permanent residence, second home, or as an overnight rental. Currently used as a hybrid second home/rental property (it’s often occupied by the owner’s and their guests) it still generates around $100k annually. The current rental manager projects up to $200,000 in gross rental income with less owner use- it has tremendous rental potential. For instance, convert the existing two car garage into an additional amenity with the addition of a swim spa and roll up glass garage doors. There is also an unfinished lower level room that would make an excellent theatre room and a space over the garage that could be a bunk room. Additions such as these could push the gross rental income well over $250k/year. The location-The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. This neighborhood started life as part of a private 3,000+ acre ranch and is the only portion of that large, private holding to be developed. It boasts a stunning setting that begins with the entrance along beautiful Norton Creek off the Foothills Parkway between Pigeon Forge and Gatlinburg. Use of the world class fly fishing stream is reserved for residents and their guests, along with the charming creek side owner’s pavilion. It’s a short drive to Pigeon Forge, Gatlinburg, and the Great Smoky Mountains National Park entrance as well. Come see it, you will instantly fall in love!
Listing Details MLS# 1166013
Location Tax Legal Info
- House #
- 1011
- Street Name
- Margit Worsham
- St Suffix
- Way
- State/Province
- TN
- Zip Code
- 37738
- PIN #
- 125 010.28 000
- Subdivision
- Estates at Norton Creek
Contract Info
- Auction Y/N
- No
- Listing Price
- 2300000
- Occupancy
- Either
- Gross Amount Year 1
- 100000
General Property Description
- Type
- Basement Ranch
- Lot Size SqFt
- 47045
- Acres
- 1.08
- Acre Source
- Other
- Site Built
- Yes
- Restrictions
- Yes
- SqFt – Total (Aprox)
- 5435
- SqFt – Main Lvl
- 3328
- SqFt – Down Lvl
- 2107
- # Bedrooms
- 5
- Baths – Full
- 5
- Baths – 1/2
- 2
- # of Rooms
- 18
- Fireplace
- Yes
- # Fireplace
- 3
- Property Status
- N/A
- HOA
- Mandatory
- HOA Fee
- 2000
- HOA Freq
- Yearly
- HOA Contact
- Estates at Norton Creek (865) 988-1864
- Year Built
- 2009
- Bonus Room
- Yes
- Extra Storage
- Yes
- SqFt – 2nd Flr Lvl
- 0
- SqFt – 3rd Flr Lvl
- 0
- Basement
- Yes
Status Change Info
- Status Change Date
- 2021-10-22
- Under Contract Date
- 2021-09-14
- Sold Date
- 2021-10-20
Location, Tax & Legal Info
- Area
- Sevier County – 27
- Property Sub-Type
- Residential
- Community
- Estates at Norton Creek
- City/County Code
- County
- Elementary School
- Pi Beta Phi
- Middle School
- Pi Beta Phi
- Total Tax
- 5724.1
- High School
- Gatlinburg Pittman
Remarks & Misc
- Directions
- From Pigeon Forge on Hwy. 441 (the ''Spur''): proceed toward Gatlinburg. At 3.5 mi turn right onto Norton Creek Rd. Continue on Norton Creek Rd. for approx. 2.3 miles; continue through gate into the Estates at Norton Creek, staying on Norton Creek for an additional 1 mi. Turn right onto Vasey Trillium Way and continue for approx. 1.4 mi. Turn left onto Margit Worsham Way & continue for approx. 0.8 mi., followed by a quick left to stay on Margit Worsham Way, where the property is located on your left (see sign).
- Public Remarks
- Resting on one of the most desirable lots at the top of sought after Estates at Norton Creek, you'll find this rustically elegant ''Mountain Shingle'' style estate home. Construction of the highest quality on a very private one acre homesite perched on a walkable mountain top lot with panoramic views of the Smokies and Mount LeConte. Beautiful details abound in this spacious, 5BD/5BA, 2-half BA, 5,400+ sq ft mountain home, such as use of historic materials incorporated from owner's family Virgina farm. Special features include a variety of hardwoods, cathedral ceilings, coffered ceiling, two laundry rooms, reading den, fenced yard for pets, open decks, covered patio, fire pit, screened porch with a mountain stone fireplace and integrated stone pizza oven, attached two car garage and level
More Information
Fencing
- Fenced Yard
- Yes
Atchd/Dtchd Type
- Detached
- Yes
Style
- Chalet
- Yes
- Craftsman
- Yes
- Other
- Yes
Construction
- Frame
- Yes
- Masonry
- Yes
- Other
- Yes
Siding
- Fiber Cement
- Yes
Fireplace
- Gas Log
- Yes
- Masonry
- Yes
- Wood Burning
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Cooling
- Yes
- Zoned
- Yes
Floors
- Carpet
- Yes
- Hardwood
- Yes
- Tile
- Yes
Garage/Parking
- Attached
- Yes
- Garage Door Opener
- Yes
- Main Level
- Yes
- Off-Street Parking
- Yes
- Side/Rear Entry
- Yes
Basement
- Finished
- Yes
- Slab
- Yes
- Walkout
- Yes
Lot Description
- Irregular Lot
- Yes
- Private
- Yes
- Rolling Slope
- Yes
- Wooded
- Yes
Fuel
- Electric
- Yes
- Propane
- Yes
View
- Mountain View
- Yes
- Wooded
- Yes
Heat
- Heat Pump
- Yes
- Zoned
- Yes
Community Amenities
- Architect Restricted
- Yes
- Club House
- Yes
- Extra Storage
- Yes
Dining Area
- Breakfast Bar
- Yes
- Eat-in Kitchen
- Yes
- Kitchen/Dining Rm Co
- Yes
- Living Rm/Dining Rm
- Yes
Appliances
- Dishwasher
- Yes
- Disposal
- Yes
- Gas Grill
- Yes
- Gas Stove
- Yes
- Microwave
- Yes
- Range
- Yes
- Refrigerator
- Yes
- Security Alarm
- Yes
- Self Cleaning Oven
- Yes
- Smoke Detector
- Yes
- Washer
- Yes
Other Rooms
- Basement Rec Room
- Yes
- Bedroom Main Level
- Yes
- Den/Study
- Yes
- Extra Storage
- Yes
- Great Room
- Yes
- Laundry/Utility
- Yes
- Mstr Bdrm Main Level
- Yes
- Rough-in-Room
- Yes
Exterior Features
- Deck
- Yes
- Patio
- Yes
- Porch – Covered
- Yes
- Porch – Enclosed
- Yes
- Porch – Screened
- Yes
- Prof Landscaped
- Yes
- Windows – Insulated
- Yes
Misc Features
- Cathedral Ceiling(s)
- Yes
- Kitchen Island
- Yes
- Pantry
- Yes
- Walk-in Shower
- Yes
- Walk-In Closet(s)
- Yes
- Washer/Dryer Connect
- Yes
- Wet Bar
- Yes
Sewer
- Other
- Yes
Water
- Well
- Yes
Association Fee Incl
- All Amenities
- Yes
- Other
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
Showing
- See Agent Instructns
- Yes