2015 Penny Way
About This Property
Cabin 1, completed at the end of 2023, is a fully loaded modern build designed to impress guests and maximize revenue. This 3 bedroom plus bonus room, 3 bathroom layout features an owner's suite, open living area, and kitchen on the main level with direct access to a spacious deck. The upper level offers an additional bedroom and full bath for added privacy, while the lower level is built for entertainment with arcade games, bunk areas, and another full tiled bathroom. Outside, guests can enjoy a large hot tub and fire pit area while taking in the peaceful setting and mountain views that make Wears Valley so desirable.
Cabin 2 offers a completely different experience, catering perfectly to couples and honeymooners looking for a more secluded, off-the-grid, mountain feel. Surrounded by mature trees, this cozy two-level cabin features a loft-style sleeping area with a relaxing soaker tub, along with an open living and dining space. It performs exceptionally well as a standalone rental and complements Cabin 1 by diversifying your guest base. With the flexibility to rent them individually or together for larger groups to maximize occupancy and returns. Opportunities like this are rare, two income-producing cabins on one private 3-acre tract in Wears Valley. Whether you're expanding your portfolio or entering the Smoky Mountain short-term rental market, this property checks all the boxes.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 1, 2026 | Listed by Realty Executives Associates | $1,050,000 | |
| Listed by Realty Executives Associates | |||
| Mar 23, 2022 | No longer available | - | |
| No longer available | |||
| Jan 18, 2022 | In contract | - | |
| In contract | |||
| Jan 14, 2022 | Listed by Keller Williams Realty | $950,000 | |
| Listed by Keller Williams Realty | |||
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Incredible opportunity *TWO* beautiful cabins sitting on over 3 acres of land in the Great Smoky Mountains. Both cabins are being offered together as a package, fully furnished, with an established short term rental history for the smaller of the two. The larger cabin has a large wrap around covered porch with incredible year-round, breathtaking views of Mount Le Conte. With vaulted ceilings, 2 bedrooms plus a loft room, and 2 bathrooms, this home has the potential to serve as a personal property or a rental opportunity! It has two stories plus a basement, an extensive parking area with room for a garage to be built, and a shed perfect for storage. The second cabin features a loft room, 1 full bathroom, covered porch, and is rented out year round as a short-term rental property. cont...... Both cabins share a well, and each have their own septic tank system. There is a deed restriction preventing any parcel from being sectioned off and sold if less than 2 acres, unless a variance is pursued by the buyer post-closing. Turn this incredible property into your personal oasis, or use these cabins as short or long term rentals! Schedule your private showing today! The manager has listed the unit size as 2500 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017