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    520 Otter Run Way

    Gatlinburg, TN 37738
    • $1,495,000
    • STATUS: Active Under Contract
    • ON SITE: 45 Days
    • ID#: 244797
    Under Contract
    UPDATED: 59 min ago
    $1,495,000
    • 3
      BEDS
    • 1.39
      ACRES
    • 4
      BATHS
    • 1
      1/2 BATHS
    • 3,592
      SQFT
    • $416
      $/SQFT
    Neighborhood:
    Type:
    Single-Family Home
    Built:
    2008
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Century 21 Legacy Pf.


    Description

    First, lets start with the most important part - location. The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. It 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. This home was built by Denark Construction, of Knoxville, TN and is of high quality. It was designed by Johnson's Architecture and as such displays their unique skill for creating timeless design with materials of perennial beauty. Note how well the home is fashioned into the site, complete with a detached garage along with ample parking and a proper turn-around space. The home is perched on a shelf overlooking the sweeping watershed of Norton Creek, striking in all seasons. Built on a slab, you'll not need to worry over a moldy or settling mountain side crawl space. The great room is full of character with exposed post and beam details, an open kitchen, one of three massive stone fireplaces (wood or gas), breakfast nook and open deck access. The entry level also features a mountain stone entrance patio, half bath, coat closet, laundry room, master bedroom with an awesome his and her bath and private balcony. The lower level consists of three guest suites, a mechanical room, den/game room with fireplace, a second spacious deck with views and a fabulous "treehouse" gazebo with a woodburning fireplace overlooking the sweeping mountain and valley views, you can also hear flowing Norton Creek below. The detached two car garage is finished with the same quality as the home. It would make a great guest suite or could be used for additional amenities to generate maximum return for use as a short term rental, such as the addition of a swim spa with roll up glass garage doors. The ceilings of the garage are high enough and finished with windows so that a loft could also be added above the swim spa. Additions such as these could push the gross rental income well over $200k/year. A totally private, end of cul-de-sac location makes it even more desirable. This area offers easy access to Gatlinburg, Pigeon Forge and the Great Smoky Mountains National Park as well.

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    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Colonial Real Estate. Information deemed reliable but not guaranteed. Last updated 2021-10-16T00:15:43.893.
    www.smokylistings.com/homes/120984802
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    520 Otter Run Way Gatlinburg, TN 37738

    • Price: $1,495,000
    • Status: Active Under Contract
    • Updated: 59 min ago
    • ID#: 244797
    3
    Beds
    4
    Baths
    1
    ½ Baths
    1.39
    Acres
    3,592
    SQFT
    $416
    $/SQFT
    2008
    Built
    Neighborhood:
    Estates at Norton Creek
    County:
    Sevier
    Area:
    Gatlinburg
    Property Description
    First, lets start with the most important part - location. The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. It 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. This home was built by Denark Construction, of Knoxville, TN and is of high quality. It was designed by Johnson's Architecture and as such displays their unique skill for creating timeless design with materials of perennial beauty. Note how well the home is fashioned into the site, complete with a detached garage along with ample parking and a proper turn-around space. The home is perched on a shelf overlooking the sweeping watershed of Norton Creek, striking in all seasons. Built on a slab, you'll not need to worry over a moldy or settling mountain side crawl space. The great room is full of character with exposed post and beam details, an open kitchen, one of three massive stone fireplaces (wood or gas), breakfast nook and open deck access. The entry level also features a mountain stone entrance patio, half bath, coat closet, laundry room, master bedroom with an awesome his and her bath and private balcony. The lower level consists of three guest suites, a mechanical room, den/game room with fireplace, a second spacious deck with views and a fabulous "treehouse" gazebo with a woodburning fireplace overlooking the sweeping mountain and valley views, you can also hear flowing Norton Creek below. The detached two car garage is finished with the same quality as the home. It would make a great guest suite or could be used for additional amenities to generate maximum return for use as a short term rental, such as the addition of a swim spa with roll up glass garage doors. The ceilings of the garage are high enough and finished with windows so that a loft could also be added above the swim spa. Additions such as these could push the gross rental income well over $200k/year. A totally private, end of cul-de-sac location makes it even more desirable. This area offers easy access to Gatlinburg, Pigeon Forge and the Great Smoky Mountains National Park as well.
    Exterior Features

    Access Private DrivePrivate RoadGated CommunityPaved Construction MasoniteMasonryFrameStone Exterior Features DeckDouble Pane WindowsSurfaced DriveWoodedGuttersPatio Foundation BasementSlab Garage Capacity 2.00 Garage Type Detached Garage Lot Dimensions N/A Roof Composition Style ChaletCraftsman

    Interior Features

    Appliances Central VacuumDryerRefrigeratorWasherMicrowaveGarbage DisposalWater FilterDishwasherGas CooktopSelf Clean OvenGas RangeRange HoodSmoke Detector Attic Access Only Basement Finished-AllWalk OutFull Bedroom2 Comments Priv. Ba/Walk-In Closet Bedroom2 Level Basement Bedroom3 Comments Priv. Ba/Walk-In Closet Bedroom3 Level Basement Bedroom4 Comments Priv. Ba/Walk-In Closet Bedroom4 Level Basement Bonus Rooms No Cooling Electric Heat Pump Den Comments Part Of Great Room Dining Room Comments Part Of Kitchen/Dining Rm Fireplace Masonry3 Or MoreGas LogWoodburningGas Starter Great Room Comments Family/Recreation Room Heating Electric Heat Pump Interior Features Recreation RoomWalk-In ClosetWood FloorsCathedral CeilingGarage Door OpenerLarge Master BedroomSecurity SystemW/D ConnectionCeiling Fan(S)Great RoomWet BarSolid Surface CountertopsWindow Treatment Kitchen Comments Kitchen/Dining Room Combo Living Room Comments Large Living Rm; F/P Master Bedroom Comments Priv. Ba/Walk-In Closet Master Bedroom Level First Master Bedroom Size 17X14.7 Number Of Bonus Rooms 0 Number Of Rooms 13 Recreation Room Comments Part Of Great Room; F/P Sq Ft Above Grade 1796 Sq Ft Finished Basement 1796 Sq Ft Unfinished Basement 0 Stories Two Utility Room Comments Washer/Dryer

    Property Features

    Annual Tax 3993.42 Construction Type Site Built District 11 Financial Remarks N/A Hoa Fees 2000.00 Hoa Fees Payment Frequency Annually Hoa Includes Club HouseCommon Area InsuranceRoads Hoa Name Norton Creek Hoa Type Mandatory Hoa YN Yes Lot Block Unit 14/B Miscellaneous PrivateMountain View Occupancy Either Owner Financing No Proposed Financing CashConventional1031 Exchange Residential Type Single Family Restrictive Covenants Yes School Bus Service Gatlinburg-Pittman 9-12Pi Beta Phi K-8 Sewer Septic SystemCommunity System Tax Year 2019 Water Well Zoning R-1 Zoning Entity Sevier County

    Copyright 2021 Great Smoky Mountains Association of Realtors. Information deemed reliable but not guaranteed. Listing provided courtesy of Century 21 Legacy Pf | Office Phone: 8654362121 .

    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Colonial Real Estate. Information deemed reliable but not guaranteed. Last updated 2021-10-16T00:15:43.893.
     
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    Colonial Real Estate
    Colonial Real Estate INC 1380 Dolly Parton Parkway
    Sevierville, TN, 37862
    Listing courtesy of Century 21 Legacy Pf.