3565 Wears Valley Road
About This Property
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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%.
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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 |
|---|---|---|---|
| Aug 23, 2018 | No longer available | - | |
| No longer available | |||
| May 30, 2018 | Listed | $1,935,000 | |
| Listed | |||
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Fantastic rare developed acreage on Wears Valley Road. So much potential for so many purposes: no restrictions, is currently being used as a wedding venue and rental apartments as well as a beautiful main home for the owner. Large barn, 5-6 rental cabins, large 3 bedroom 2,5 bath well appointed home, pristine pond with fountain, well landscaped and very well maintained, cross fenced with a ring. Horses, mini donkeys enjoy the meadows right now. Would make a perfect Bed and Breakfast, Wedding Venue, Overnight cabin rental complex. The land will hold many more structures, every bit of the 13.5 acres is beautiful and useable. Your surrounding view is the Great Smoky mountains, Cove Mountain, Round Top and Chilhowee Ridge, it doesn't get any better! The Wears Valley road frontage is 95' you can build any number of commercial businesses or the owner had plans for a 10 bedroom lodge. Property will cash flow positive right now just with the rental cabins- ask us for a proforma. No drive-bys as the private drive ends at the owners home. The manager has listed the unit size as 8000 square feet.
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| Feb 13, 2018 | Listed by Century 21 MVP | $1,935,000 | |
| Listed by Century 21 MVP | |||
| Aug 20, 2017 | Listed | $1,935,000 | |
| Listed | |||
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This unique income property on Wears Valley Road boasts 13 1/2 level acres bordered by Cove Creek and a spectacular mountain view! A gorgeous 3 bedroom, 2 1/2 bath main house, 6 rental properties, a newly built event venue, plus two barns. Bring your horses, sit by the large pond with a fountain feature, and enjoy the view of Cove Mountain, the highest peak in Wears Valley! Just minutes from Pigeon Forge and Gatlinburg!No restrictions! 13 1/2 acres of level land! Cove Creek runs behind the property. The pond has a bridge leading to an island in the middle! Event venue barn with concrete floor and rental space above!. Seller will consider selling horses, miniature donkeys, and miniature horses. Various investment opportunities here!!! The manager has listed the unit size as 2730 square feet.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017