$748,800
Newport, TN 37821
MLS# 9990572
3561 sqft

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Property 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 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.
Details
Maps
Location, Tax & Legal Info
Parcel ID: 083 039.09
Block: 13R
Deed Book #: 1627
Deed Page #: 554
City Taxes: 0
County Taxes: 3398
Contract Info
Foreclosure: No
Short Sale: No
Auction: No
Status: Active
Listing Price: 748800
Current Price: $748,800
Listing Date: 2026-01-25
General Property Description
Lot Dimensions: 311x216x247x281
Acres: 1.93
Zoning: Residential
# Buildings: 2
Elementary School: Cosby
# of Units: 4
Middle School: None
Total Units: 4
High School: Cosby
Stories: 2
# Fireplaces: 1
HOA Y/N: No
Property Sub-Type: Multi Family
Year Built: 2000
Total SqFt: 3561
Remarks & Misc
Public Remarks: 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.
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.
Property Condition
Average: 1
Income and Expenses
Gross Annual Income: 5900
Exterior Finish
Vinyl Siding: 1
Wood Siding: 1
Unit 1
# Units: 1
# Rooms: 7
# Bedrooms: 3
# Bathrooms: 4
Monthly Rent: 2700
Unit 2
# Units: 1
# Rooms: 3
# Bedrooms: 1
# Bathrooms: 1
# Half Baths: 1
SqFt: 1187
Monthly Rent: 1000
Style
Ranch: 1
Roof
Shingle: 1
Unit 3
# Units: 1
# Rooms: 3
# Bedrooms: 1
# Bathrooms: 1
Half Baths: 1
SqFt: 1187
Monthly Rent: 1000
Levels
One and One Half: 1
Two: 1
Unit 4
# Units: 1
# Rooms: 3
# Bedrooms: 1
# Bathrooms: 1
Half Baths: 1
SqFt: 1187
Monthly Rent: 1200
Window Features
Double Pane Windows: 1
Interior Features
Eat-in Kitchen: 1
Kitchen Island: 1
Laminate Counters: 1
Open Floorplan: 1
View
Mountain(s): 1
Heating
Heat Pump: 1
Info Available
Survey: 1
AC
Ceiling Fan(s): 1
Heat Pump: 1
Utilities
Cable Connected: 1
Electricity Connected: 1
Water Connected: 1
Water
Public: 1
Sewer
Septic Tank: 1
Appliances
Cooktop: 1
Dishwasher: 1
Dryer: 1
Electric Range: 1
Range: 1
Refrigerator: 1
Washer: 1
Topography/Lot Description
Level: 1
Rolling Slope: 1
Fireplace
Living Room: 1
Laundry Features
Electric Dryer Hookup: 1
Washer Hookup: 1
Flooring
Carpet: 1
Laminate: 1
Tile: 1
Easements
Other: 1
Financing
Cash: 1
Conventional: 1
Parking Features
Garage Door Opener: 1
Gravel: 1
Unpaved: 1
Other Rooms
Laundry: 1
Primary Bathroom: 1
Porch/Patio/Deck
Covered: 1
Deck: 1
Rear Porch: 1
Side Porch: 1
Walls
Drywall: 1
Paneling: 1
Foundation
Slab: 1
Structure Type
House: 1
Triplex: 1
Expenses Include
Lawn Maint: 1
Taxes Real Estate: 1
Waste: 1
Location Tax Legal Info
Street #: 2482
Street Name: Elk
St Suffix: Way
County: Cocke
State/Province: TN
Zip Code: 37821
Property Features
Property Condition: Average
Style: Ranch
Levels: One and One Half; Two
Exterior Finish: Vinyl Siding; Wood Siding
Interior Features: Eat-in Kitchen; Kitchen Island; Laminate Counters; Open Floorplan
Appliances: Cooktop; Dishwasher; Dryer; Electric Range; Range; Refrigerator; Washer
Flooring: Carpet; Laminate; Tile
Roof: Shingle
Other Rooms: Laundry; Primary Bathroom
Parking Features: Garage Door Opener; Gravel; Unpaved
View: Mountain(s)
Heating: Heat Pump
Laundry Features: Electric Dryer Hookup; Washer Hookup
Water: Public
Window Features: Double Pane Windows
Sewer: Septic Tank
Fireplace: Living Room
Foundation: Slab
AC: Ceiling Fan(s); Heat Pump
Utilities: Cable Connected; Electricity Connected; Water Connected
Structure Type: House; Triplex
Walls: Drywall; Paneling
Info Available: Survey
Easements: Other
Financing: Cash; Conventional
Expenses Include: Lawn Maint; Taxes Real Estate; Waste
Listing Office: Country Living Realty
Last Updated: January - 27 - 2026
Information deemed reliable but not guaranteed.