$2,315,000
$2,300,000
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1011 Margit Worsham WAY Gatlinburg, TN 37738
5 Beds
7 Baths
5,435 SqFt
Key Details
Sold Price $2,315,000
Property Type Single Family Home
Sub Type Residential
Listing Status Sold
Purchase Type For Sale
Square Footage 5,435 sqft
Price per Sqft $425
Subdivision Estates At Norton Creek
MLS Listing ID 1166013
Sold Date 10/20/21
Style Other,Craftsman,Chalet
Bedrooms 5
Full Baths 5
Half Baths 2
HOA Fees $166/ann
Originating Board East Tennessee REALTORS® MLS
Year Built 2009
Lot Size 1.080 Acres
Acres 1.08
Property Description
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 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!
Location
State TN
County Sevier County - 27
Area 1.08
Rooms
Other Rooms Basement Rec Room, LaundryUtility, DenStudy, Rough-in-Room, Bedroom Main Level, Extra Storage, Great Room, Mstr Bedroom Main Level
Basement Finished, Slab, Walkout
Dining Room Breakfast Bar, Eat-in Kitchen
Interior
Interior Features Cathedral Ceiling(s), Island in Kitchen, Pantry, Walk-In Closet(s), Wet Bar, Breakfast Bar, Eat-in Kitchen
Heating Heat Pump, Propane, Zoned, Electric
Cooling Central Cooling, Ceiling Fan(s), Zoned
Flooring Carpet, Hardwood, Tile
Fireplaces Number 3
Fireplaces Type Other, Masonry, Wood Burning, Gas Log
Fireplace Yes
Appliance Dishwasher, Disposal, Gas Grill, Gas Stove, Smoke Detector, Self Cleaning Oven, Security Alarm, Refrigerator, Microwave, Washer
Heat Source Heat Pump, Propane, Zoned, Electric
Laundry true
Exterior
Exterior Feature Windows - Insulated, Fenced - Yard, Patio, Porch - Covered, Porch - Enclosed, Porch - Screened, Prof Landscaped, Deck
Garage Garage Door Opener, Attached, Side/Rear Entry, Main Level, Off-Street Parking
Garage Description Attached, SideRear Entry, Garage Door Opener, Main Level, Off-Street Parking, Attached
Amenities Available Clubhouse, Storage
View Mountain View, Wooded
Porch true
Parking Type Garage Door Opener, Attached, Side/Rear Entry, Main Level, Off-Street Parking
Garage No
Building
Lot Description Private, Wooded, Irregular Lot, Rolling Slope
Faces 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).
Sewer Other
Water Well
Architectural Style Other, Craftsman, Chalet
Structure Type Fiber Cement,Frame,Brick
Schools
Middle Schools Pi Beta Phi
High Schools Gatlinburg Pittman
Others
HOA Fee Include All Amenities
Restrictions Yes
Tax ID 125 010.28 000
Energy Description Electric, Propane
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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