2482 Elk Way, Newport, Tennessee 37821
TN, Newport-
Active Status
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34 Dayz On Cribz Total Days
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Residential Income Property Type
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6133 Total Sqft $122/sqft
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2000 Year Built
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Mortgage Wizard 3000 Advanced Breakdown
Turnkey Smoky Mountains Investment Opportunity – Income-Producing Tri-Plex + Single-Family Home with Mountain Views both front and rear. Discover a rare, cash-flowing multi-property asset in East Tennessee featuring a fully leased tri-plex and a separate single-family residence also leased, ideally located near medical facilities, shopping, and dining. The tri-plex offers three 1-bedroom, 1.5-bath units (1,187 SF each), all currently producing income and well suited for either long-term or short-term rental strategies. Recent capital improvements include a brand-new roof on both the Tri-Plex and house and new HVAC systems on the tri-plex, significantly reducing near-term maintenance and capital expenditure for the next owner. Next door, the 3-bedroom, 4-bath single-family home adds another income stream or provides an excellent owner-occupant option. The home is 2,569 sq ft with a two-car garage and features a newly built deck, and a partially fenced yard. Additional value comes from the open frontage land and a total of 1.93 acres offering future development or expansion potential (subject to zoning), making this a compelling value-add opportunity. Whether you’re looking to expand a rental portfolio, capitalize on short-term rental demand near the Smokies, or have a single-family residence while generating multiple income streams, this property delivers: Immediate cash flow Multiple rental strategies, major system upgrades already completed desirable location Long-term appreciation potential A true turnkey investment with flexibility. This property is 53 minutes to Knoxville, 48 minutes to Pigeon Forge or Gatlinburg and only 45 minutes to Hot springs NC.
- Property Type: Residential Income
- Listing Type: For Sale
- MLS #: 3116170
- Price: $748,800
- Square Footage: 6,133 Sqft
- Year Built: 2000
- Office Name: Country Living Realty
- Agent Name: Don Fabrikant
- Property Attached: Yes
- Roof: Other
- Listing Status: Active
- Street Number: 2482
- Street: Elk Way
- City Newport
- State TN
- Zipcode 37821
- County Cocke County, TN
- Longitude: W84° 46' 58.9''
- Latitude: N35° 53' 25.3''
- Directions: From Newport US-321 towards Cosby turn left onto Old 32, continue to follow old 32. Turn left onto O'Neil Rd then turn left onto Elk Way. Stay on Elk way see sign. From Cosby take US-321 onto Old 32 then follow the remaining directions. Property is GPS friendly.
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Heating System Heat Pump, Electric
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Cooling System Central Air, Ceiling Fan(s)
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Utilities Electricity Available
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Flooring Laminate, Carpet, Tile
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Laundry Features Electric Dryer Hookup, Washer Hookup
- Elementary School: Cosby Elementary
- Middle School: Cosby Elementary
- High School: Cosby High School
- Building Size: 6,133 Sqft
- Construction Materials: Other, Vinyl Siding, Frame
- Levels: Three Or More
- Lot Size Dimensions: 311x216x347x281
- Number Of Units Total: 4
- On Market Date: January 26th, 2026
- Previous Price: $748,800
- Rent Includes: Other,Trash Collection
- Annual Tax Amount: $3,398
- Co List Agent Full Name: Donna Fabrikant
- Co List Office Name: Country Living Realty
- Mls Status: Active
- Originating System Name: RealTracs
- Special Listing Conditions: Standard
- Modification Timestamp: Jan 27th, 2026 @ 9:40pm
- Status Change Timestamp: Jan 26th, 2026 @ 11:40pm
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