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1643 Barn Door LaneSevierville, Tennessee TN37862


StatusSold
Sold Date10/24/2022
Bedrooms6
Total Baths7
Full Baths6
Partial Baths1
SqFt 4,794
Acres 3.177
CountySevier
SubdivisionOn Higher Ground Phase 3
Year Built2018
Property TypeResidential
Property Sub TypeSingle Family
Description

Paradise Point Pool Lodge is a rare investment opportunity to purchase a 6 bedroom cabin with an indoor pool, theater room, and view on over 3 acres. Most large indoor pool cabins are crammed on top of each other with little to no privacy. That certainly isn't the case with this property! it offers 3.177 acres of privacy, views, and even a flat spot down below the cabin. The rental income is phenomenal with 2021 producing $220,391 in rental revenue and 2020 at $207,169. And this does NOT include cleaning fees, taxes, or any additional fees. The cabin itself operates as a very lucrative short term rental based on the amazing features and amenities. On the main level you'll find two huge king sized bedrooms, a huge kitchen & dining area, along with a family room with a mountain view. Upstairs includes three king sized bedrooms and one massive bunk bedroom with two sets of queen over queen bunk beds. The lower level offers the large indoor pool, generously sized theater room, and game room area. There is even an outdoor fire pit adjacent to the cabin where one can take in the mountain view and relax by the fire! The property is located in the Wears Valley area with easy access to Pigeon Forge via multiple routes such as light #10, light #6, and light #3. Just minutes from the action of the Parkway, yet a feeling of privacy and seclusion being in the mountains. The gross rental multiplier (GRM) of 8.16 (at listing price) is well under the current market average of cabins sold in Sevier County, offering an excellent investment opportunity. On pace to do phenomenal in 2022 as well. At the time of listing on the MLS the cabin has $171,120 reserved for 2022. 203 nights at an ADR of $843/night. This represents over a 9.3% increase in the ADR in 2022 over 2021.

Listing courtesy of Smoky Mountain Real Estate Corporation
© 2024 Great Smoky Mountains Association of REALTORS® - Multiple Listing Service (GSMAR). All rights reserved. Information Deemed Reliable But Not Guaranteed. The Information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: Thursday, March 28th, 2024 03:33:34 PM.

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Local Realty Group

114 West Main St
Sevierville, TN 37862
Phone: 865-366-1023
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