Check Availability
Pigeon Forge 37863
505 Chickasaw Gap Way
$839,999
↓ $35K (4%)
House - For Sale

505 Chickasaw Gap Way

Pigeon Forge, TN 37863
bedrooms
5 Beds
bathrooms
5 Baths
square feet
2392 Sqft
$4,437
Estimated Monthly
$150
HOA / Fees
0.92%
Cap Rate

About This Property

5 Star Reviews on VRBO! Currently SELF managed under EVOLVE. 2021 Rental $114,686.76 2022 Rental $88,040.35. $86,657 for 2023. Huge Upgrades & Maintenance done while they have owned it! 3 miles to Dollywood! Minutes to Parkway, 10 min to downtown Gatlinburg!  Investor Note: close on this property in May and get rentals for May/June/July before you need to make your first mortgage payment. Buy now to get the summer rental income. This cabin is 3 miles to Dollywood and has the cabin experience while keeping your guests close to the main area for activities! Great for families who have children and may need diapers, Tylenol at night etc. Great for church and business retreats.  Sleeps 16. Situated in one of Pigeon Forge's most sought-after subdivisions, prime location, centrally positioned in town & easily accessible via a non-winding road accessible throughout all seasons. Sold fully furnished. Every bedroom has a bathroom. 7 flat-screen TVs w/ cable, farmhouse-style dining table (seats 16- great for Thanksgiving rental), gable window, 2 gas fireplaces, foosball table, arcade machine, pool table. KITCHEN: Fully equipped w/ cooking basics, stainless steel appliances, microwave, blender, drip + Keurig coffee maker, knife set, ice maker, breakfast bar. Bedroom 1: King Bed, Bedroom 2: King Bed, Bedroom 3: King Bed, Bedroom 4: Queen Bunk Beds, Bedroom 5: Queen Bunk Beds, 4 Twin Bunks in basement. 2- story covered decks + covered front porch, rocking chairs, gas grill, hot tub w/ cover, community pool access (open seasonally).                                                    The homeowners' dues are $1700/year if you pay all at one time.  If you pay monthly, it totals $1800 or $150/month.  
Currently SELF managed under EVOLVE. 2021 Rental $114,686.76 2022 Rental $88,040.35 In 2022 they changed management companies & switched back. They did lose some rental times when they switched over. Booked for $86,657 for 2023 but see attachment with Bear Tracts Management Company with their projections - estimate cabin could do $10,000 more*. REPAIRS HAVE BEEN DONE! Cabin has been highly maintained and many major items have been upgraded or replaced. LIST OF UPGRADES AND APPROVEMENTS!!   - Installed gutters - All new windows - New shower tub on main floor - New bedroom fan on main floor & bed frame -New bedding for all beds - New oven, stove & microwave - New kitchen sink & added a garbage disposal - New stools at kitchen bar - Updated & restocked kitchen appliances, utensils, etc. - New living room tables & lamps -New big screen TV in living's room & replaced a couple of others - Replaced the gas burners in both fireplaces & timers - New stacked washer/dryer - Pool table re-felted - New stools in game room - PAC-Man machine refurbished - Updated front door keypad & installed deadbolt in game room door to the deck - New BBQ Grill -Replaced some rockers for decks - Replaced the posts supporting the bottom deck & poured cement pilings to support them *$13,300 -Sheeting under the house to protect from moisture / bugs - Repaired & Replaced the stucco *$12,000. - Replaced both HVACs - with regularly scheduled maintenance - New, brighter hall lights going down to the game room - New electrical circuit panel - New Washer / Dryer - stacked combo + ironing board & iron - New Hot Water Heater -4 twin bunk beds in the basement -Ceiling fans in each bedroom, living room, and dining room. -2 covered decks in addition to the covered porch. -Hot tub with cover.                                                
                                                               *Please confirm all rental projections directly with Bear Tracts.

link for EVOLVE RENTAL LISTING
https://evolve.com/vacation-rentals/us/tn/pigeon-forge/438658?Property-Type=Cabin&queryID=cc11b8141325a9f165b790a9f7ce071e

The manager has listed the unit size as 2392 square feet.
Unit Size
2,392Ft²
Days on Market
145 days
Land Size
0.10 acres
Price per sqft
$351
Property Type
House
Property Taxes
$162
HOA Dues
$150
Year Built
2003
Listed By
Last updated: 2 months ago (GSMARTN #267671)

Price History

Date / Event Date Event Price
Mar 29, 2024 Price Decreased $839,999
↓ $35K (4%)
Price Decreased
Mar 9, 2024 Price Decreased $875,000
↓ $24K (2.7%)
Price Decreased
Feb 3, 2024 Price Decreased $899,000
↓ $26K (2.8%)
Price Decreased
Dec 20, 2023 Listed by Brandon Hannah Properties $925,000
Listed by Brandon Hannah Properties
3 miles to Dollywood! Sleeps 16. Situated in one of Pigeon Forge's most sought-after subdivisions, prime location, centrally positioned in town & easily accessible via non-winding road accessible throughout all seasons. Sold fully furnished. Every bedroom has a bathroom. 7 flat-screen TVs w/ cable, farmhouse-style dining table (seats 16), gable window, 2 gas fireplaces, foosball table, arcade machine, pool table. KITCHEN: Fully equipped w/ cooking basics, stainless steel appliances…
Jan 14, 2020 Sold to Michael S Archambo, Sharon ... $530,000
Sold to Michael S Archambo, Sharon ...
Show More

Property Highlights

Fireplace
Air Conditioning
Interior Details

Interior Information

Deck

Fireplace Information

Fireplace
Exterior Details

Exterior Information

Log Siding
Wood Siding

Building Info

Overview

    General

  • Year Built: 2003
  • Effective Year Built: 2003
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Bathroom Plumbing Fixtures: 9
  • Floor Count: 2
  • Living Units: 1
  • Basement Area: 936
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 43,560
  • Lot Size Depth Feet: 300
  • Lot Size Frontage Feet: 250
  • Total Building Area: 2,392
  • Gross Building Area: 2,392
  • Building Area: 2,392
  • Building Area Measurement: unknown

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: unknown
  • Heating: unknown
  • Heated Square Feet: 2,392
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: unknown
  • Subdivision: ARROWHEAD RESORT
  • Land Acres: 1
  • Legal Description 1: ARROWHEAD RESORT PB LM3 PG 200 LOT 14

Ownership

  • Current Owner : CROSS SHARON C
  • Current Owner 2: ARCHAMBO MICHAEL S
  • Previous Owner : LODAL NICHOLAS ROBERT
  • Previous Owner 2: LODAL ROBIN
  • Owner Before Previous Owner: EADIE JASON
  • Owner Before Previous Owner 2: EADIE MELISSA

Neighborhood

  • School District Name: Sevier County School District
  • School Tax School District: 78576
  • Census Tract: 081002

Zoning

  • Zoning: C-1

Geography

  • Assessors Map Reference: 094G
  • District: 05
  • Parcel: 094G-E-001.00-014
  • Lot: 14
  • Municipality: PIGEON FORGE
  • Latitude: 35.7855
  • Longitude: -83.5697

    Address

  • Full Address: 505 Chickasaw Gap Way
  • Address - House Number: 505
  • Address - Street Name: Chickasaw Gap
  • Address - Suffix Type: Way
  • State: TN
  • City Name: Pigeon Forge
  • Zip Code: 37863

Valuation

    Tax

  • Total Area: 936
  • Tax Year: 2023
  • Tax Amount: $5,592
  • Tax Rate Code Area: 78A02

    Appraisal Valuation

  • Standard Deviation: 0.2531
  • Valuation Date: Feb 28, 2024
  • Confidence Score: 64
  • Final Value: 970,810
  • High Value: 1,216,586
  • Low Value: 725,034

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $394,600
  • First Open Lien Mortgage Lender: INTERCONTINENTAL CAPITAL GROUP
  • First Open Lien Mortgage Recording Date: Mar 03, 2022
  • First Open Lien Mortgage Loan Amount: $394,600
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: unknown
  • First Open Lien Mortgage Loan Due Date: Mar 01, 2052

    Market Valuation

  • Market Total Value: $472,300
  • Market Land Value: $28,000
  • Market Improvement Value: $444,300

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $188,920
  • Assessed Land Value: $11,200
  • Assessed Improvements Value: $177,720

    Sales

  • Current Sale Contract Date: Jan 06, 2020
  • Current Sale Recording Date: Jan 14, 2020
  • Current Sale Transaction ID: 11716541541
  • Current Sale Price: $530,000
  • Current Sale Document Type: unknown
  • Current Sale Input Document Number: 20001411
  • Previous Sale Recording Date: Dec 22, 2017
  • Previous Sale Contract Date: Dec 22, 2017
  • Previous Sale Amount: $322,000
  • Previous Sale Document Type: unknown

    Last Sale Mortgage

  • First Mortgage Lender: CMG MORTGAGE INC
  • First Mortgage Transaction Date: Jan 14, 2020
  • First Mortgage Loan Amount: $397,500
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: unknown
  • First Mortgage Loan Due Date: Feb 01, 2050

    Previous Mortgages

  • Previous Mortgage Lender: MORTGAGE INVESTORS GROUP INC
  • Previous Mortgage Transaction Date: Dec 22, 2017
  • Previous Mortgage Loan Amount: $257,600
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: unknown
  • Previous Mortgage Loan Due Date: Jan 01, 2048

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
5 Beds
5 Baths
2,600 ft²
$373/ft²
$970,000 Dec 12, 2023
-
$2,191/mo
House
5 Beds
5 Baths
2,622 ft²
$379/ft²
$995,000 Nov 2, 2023
-
$1,796/mo
House
5 Beds
5 Baths
2,567 ft²
$384/ft²
$984,900 Aug 15, 2023
-
$1,575/mo
House
5 Beds
5 Baths
2,856 ft²
$350/ft²
$1,000,000 Nov 21, 2023
-
$2,117/mo
House
4 Beds
3 Baths
2,496 ft²
$352/ft²
$879,000 Aug 17, 2023
-
$2,454/mo
House
4 Beds
5 Baths
2,064 ft²
$521/ft²
$1,075,000 Jun 28, 2023
-
$1,176/mo

About Pigeon Forge


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Frequently Asked Questions

When was property at 505 Chickasaw Gap Way built and last sold?
The property at 505 Chickasaw Gap Way was built in 2003 and last sold on Jan 6, 2020 for $530,000.
How much is this home worth?
The estimated value of the home located at 505 Chickasaw Gap Way is $902,656.
What are some comparable homes to 505 Chickasaw Gap Way?
Homes that are comparable to 505 Chickasaw Gap Way include a house property at 2933 Fiddlers Creek Way, 3531 Peggy Lane, 3507 Brook Stone Way.

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