2482 Elk Way

Newport, TN 37821

$748,800
Price
6
Beds
—
Baths
6,133 Sq. Ft.
$122 / Sq. Ft.
6,133
Sq. Ft.
$122
per Sq. Ft.
New
New

Description

Turnkey Smoky Mountains Investment Opportunity - Income-Producing Tri-Plex + Single-Family Home with Mountain Views both front and rear. Discover a rare, cash-flowing multi-property asset in East Tennessee featuring a fully leased tri-plex and a separate single-family residence also leased, ideally located near medical facilities, shopping, and dining. The tri-plex offers three 1-bedroom, 1.5-bath units (1,187 SF each), all currently producing income and well suited for either long-term or short-term...Turnkey Smoky Mountains Investment Opportunity - Income-Producing Tri-Plex + Single-Family Home with Mountain Views both front and rear. Discover a rare, cash-flowing multi-property asset in East Tennessee featuring a fully leased tri-plex and a separate single-family residence also leased, ideally located near medical facilities, shopping, and dining. The tri-plex offers three 1-bedroom, 1.5-bath units (1,187 SF each), all currently producing income and well suited for either long-term or short-term rental strategies. Recent capital improvements include a brand-new roof on both the Tri-Plex and house and new HVAC systems on the tri-plex, significantly reducing near-term maintenance and capital expenditure for the next owner. Next door, the 3-bedroom, 4-bath single-family home adds another income stream or provides an excellent owner-occupant option. The home is 2,569 sq ft with a two-car garage and features a newly built deck, and a partially fenced yard. Additional value comes from the open frontage land and a total of 1.93 acres offering future development or expansion potential (subject to zoning), making this a compelling value-add opportunity. Whether you're looking to expand a rental portfolio, capitalize on short-term rental demand near the Smokies, or have a single-family residence while generating multiple income streams, this property delivers: Immediate cash flow Multiple rental strategies, major system upgrades already completed desirable location Long-term appreciation potential A true turnkey investment with flexibility. This property is 53 minutes to Knoxville, 48 minutes to Pigeon Forge or Gatlinburg and only 45 minutes to Hot springs NC.
  1. Listed by Don Fabrikant • Country Living Realty
  2. Listed by Donna Fabrikant • Country Living Realty

Property Details for 2482 Elk Way

View
Mountain(s)
Waterfront
No
LISTING UPDATED: 01/26/2026 06:50 PM

Property Details for 2482 Elk Way

StatusActive
MLS #3116170
Days on Market1
Taxes$3,398 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2000
Lot Size-
CountyCocke County

Location

Listing Courtesy of Country Living Realty, Don Fabrikant (423.237.1046); Country Living Realty, Donna Fabrikant
Add your commute

Building Information for 2482 Elk Way

Stories-Residences4Year Built2000Building Size-Lot Size-

Payment Calculator

$3,933 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,650

Property Taxes

$283

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2482 Elk Way

Summary
Location and General Information
  • Directions: From Newport US-321 towards Cosby turn left onto Old 32, continue to follow old 32. Turn left onto O'Neil Rd then turn left onto Elk Way. Stay on Elk way see sign. From Cosby take US-321 onto Old 32 then follow the remaining directions. Property is GPS friendly.
  • Elementary School: Cosby Elementary
  • High School: Cosby High School
  • Levels: Three Or More
  • Living Area Source: Appraiser
  • Living Area Units: Square Feet
  • Middle Or Junior School: Cosby Elementary
  • Mlg Can View: Yes
  • Topography: Rolling Slope, Level
  • Zoning: Residential
Parking
  • Parking Total: .00
Taxes and HOA Information
  • Tax Lot: 13R
Property
Building Information
  • Above Grade Finished Area Source: Appraiser
  • Above Grade Finished Area Units: Square Feet
  • Below Grade Finished Area Source: Appraiser
  • Below Grade Finished Area Units: Square Feet
  • Building Area Source: Appraiser
  • Building Area Units: Square Feet
  • Flooring: Carpet, Laminate, Tile
Lot Information
  • Lot Size Units: Acres
  • Parcel Number: 083 03909 000
  • Structure Type: Quadruplex
  • Lot Size Area: 1.93
Property and Assessments
  • Construction Materials: Frame, Vinyl Siding, Other
  • Documents Count: 6
  • New Construction: No
  • Possession: Close Of Escrow
  • Property Attached: Yes
  • Property Condition: Average
  • Senior Community: No
  • Stories: 2
  • Year Built Details: Existing
Utilities
  • Cooling: Central Air, Ceiling Fan(s)
  • Cooling: Yes
  • Heating: Electric, Heat Pump
  • Heating: Yes
  • Sewer: Septic Tank
  • Utilities: Electricity Available
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Appliances: Cooktop, Dishwasher, Dryer, Electric Range, Range, Refrigerator, Washer
  • Fireplace Features: Living Room
  • Fireplace: Yes
  • Laundry Features: Washer Hookup, Electric Dryer Hookup
  • Window Features: Double Pane Windows
Exterior Features
  • Attached Garage: No
  • Exterior Features: No Dock
  • Foundation Details: Slab
  • Pool Private: No
  • Roof: Other
  • View YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
Unit 1
  • Unit Type Beds Total: 3
  • Unit Type Type: 3 Bedroom
Unit 2
  • Unit Type Beds Total: 1
  • Unit Type Type: 1 Bedroom
Unit 3
  • Unit Type Beds Total: 1
  • Unit Type Type: 1 Bedroom
Unit 4
  • Unit Type Beds Total: 1
  • Unit Type Type: 1 Bedroom
Rental Information
Rental Information
  • Rent Includes: Other, Trash Collection
  • Tenant Pays: Other

Property History for 2482 Elk Way

DateEvent & SourcePriceAppreciation
Jan 27, 2026

Listed (Active)

Tennessee Virginia Regional MLS #9990572

$748,800—
Jan 26, 2026

Listed (Active)

REALTRACS #3116170

$748,800—
Jan 26, 2026

Listed (Active)

KAARMLS #1327667

$748,800—
Jun 1, 2023

Closed (Public Record)

Public Record #1512377794

$574,370—
Jun 22, 2021

Withdrawn

REALTRACS #3106122

$500,000—
Jun 22, 2021

Withdrawn

KAARMLS #1148340

—
May 10, 2021

Listed (Active)

KAARMLS #1148340

$500,000—
Sep 30, 2020

Expired

REALTRACS #2849345

$500,000—
Sep 30, 2020

Expired

KAARMLS #1109858

—
Jun 10, 2020

Price Change

KAARMLS #1109858

$500,000—
Mar 4, 2020

Listed (Active)

KAARMLS #1109858

$514,000—
DateEvent & SourcePrice
01/27/2026

Listed (Active)

Tennessee Virginia Regional MLS #9990572

$748,800
01/26/2026

Listed (Active)

REALTRACS #3116170

$748,800
01/26/2026

Listed (Active)

KAARMLS #1327667

$748,800
06/01/2023

Closed (Public Record)

Public Record #1512377794

$574,370
06/22/2021

Withdrawn

REALTRACS #3106122

$500,000
06/22/2021

Withdrawn

KAARMLS #1148340

—
05/10/2021

Listed (Active)

KAARMLS #1148340

$500,000
09/30/2020

Expired

REALTRACS #2849345

$500,000
09/30/2020

Expired

KAARMLS #1109858

—
06/10/2020

Price Change

KAARMLS #1109858

$500,000
03/04/2020

Listed (Active)

KAARMLS #1109858

$514,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2482 Elk Way

Taxable ValueLand$5,320Additions$78,240Total$83,560
Tax Record2024$2,139 ($178 / month)
Home Facts
Beds0Total Finished SqFt3,408 SqFtAbove Grade Finished SqFt3,408 SqFtStories2Lot Size33,977 SqFtStyleTownhouseYear Built2000CountyCOCKEAPN083 03909

Schools near 2482 Elk Way

This home is within Cocke County School District.
Rating
School
Type
Grades
Distance
Cosby Elementary School
Public - K to 8
Cosby High School
Public - 9 to 12
Rating
School
Distance
Cosby Elementary School
PublicK to 8

Cosby High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 2482 Elk Way, Newport, TN 37821

2482 Elk Way is a multi-family home for sale in Newport, TN 37821. This property was listed for sale on January 26, 2026 by Country Living Realty, it's currently listed at $748,800. It has been on the market for a total of 1 days and was last sold on June 1, 2023. This listing's school district is Cocke County School District. Nearby schools include Cosby Elementary School and Cosby High School. 2482 Elk Way is a 6-bed, 0-bath, 6,133 sqft multi-family home built in 2000.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Country Living Realty, Don Fabrikant (423.237.1046); Country Living Realty, Donna Fabrikant

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 01/27/2026 04:50 AM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.