1011 Margit Worsham Way, Gatlinburg, TN 37738

$2,315,000
Property Type: Single Family Bedrooms: 5 Square Footage: 5,435 Lot Size (sq. ft.): 47,045 Status: Closed
Current Price: $2,315,000 List Date: 8/31/2021 Last Modified: 2/23/2023

Description

Resting on one of the most desirable lots at the top of sought after Estates at Norton Creek, you'll find this rustically elegant ''Mountain Shingle'' style estate home. Construction of the highest quality on a very private one acre homesite perched on a walkable mountain top lot with panoramic views of the Smokies and Mount LeConte. Beautiful details abound in this spacious, 5BD/5BA, 2-half BA, 5,400+ sq ft mountain home, such as use of historic materials incorporated from owner's family Virgina farm. Special features include a variety of hardwoods, cathedral ceilings, coffered ceiling, two laundry rooms, reading den, fenced yard for pets, open decks, covered patio, fire pit, screened porch with a mountain stone fireplace and integrated stone pizza oven, attached two car garage and level

Supplements: parking. Ideal for use as a permanent residence, second home, or as an overnight rental. Currently used as a hybrid second home/rental property (it's often occupied by the owner's and their guests) it still generates around $100k annually. The current rental manager projects up to $200,000 in gross rental income with less owner use- it has tremendous rental potential. For instance, convert the existing two car garage into an additional amenity with the addition of a swim spa and roll up glass garage doors. There is also an unfinished lower level room that would make an excellent theatre room and a space over the garage that could be a bunk room. Additions such as these could push the gross rental income well over $250k/year. The location-The Estates at Norton Creek is a unique mountain development of superb quality with underground utilities and a gated entrance. This neighborhood started life as part of a private 3,000+ acre ranch and is the only portion of that large, private holding to be developed. It boasts a stunning setting that begins with the entrance along beautiful Norton Creek off the Foothills Parkway between Pigeon Forge and Gatlinburg. Use of the world class fly fishing stream is reserved for residents and their guests, along with the charming creek side owner's pavilion. It's a short drive to Pigeon Forge, Gatlinburg, and the Great Smoky Mountains National Park entrance as well. Come see it, you will instantly fall in love!

More Information MLS# 1166013

Contract Info

Auction Y/N: No Occupancy: Either Gross Amount Year 1: 100000 Listing Price: 2300000 Current Price: $2,315,000 Status: Closed Listing Date: 2021-08-31

Location, Tax & Legal Info

Area: Sevier County - 27 Property Sub-Type: Residential Community: Estates at Norton Creek City/County Code: County Elementary School: Pi Beta Phi Middle School: Pi Beta Phi Total Tax: 5724.1 High School: Gatlinburg Pittman

General Property Description

Type: Basement Ranch # Bedrooms: 5 Lot Size SqFt: 47045 Acres: 1.08 Acre Source: Other # of Rooms: 18 Restrictions: Yes Site Built: Yes Fireplace: Yes HOA Fee: 2000 HOA Freq: Yearly HOA Contact: Estates at Norton Creek (865) 988-1864 Property Status: N/A SqFt - Main Lvl: 3328 SqFt - Down Lvl: 2107 SqFt - 2nd Flr Lvl: 0 SqFt - 3rd Flr Lvl: 0 # Fireplace: 3 HOA: Mandatory Basement: Yes Bonus Room: Yes Extra Storage: Yes SqFt - Total (Aprox): 5435 Baths - Full: 5 Baths - 1/2: 2 Year Built: 2009

Remarks & Misc

Directions: From Pigeon Forge on Hwy. 441 (the ''Spur''): proceed toward Gatlinburg. At 3.5 mi turn right onto Norton Creek Rd. Continue on Norton Creek Rd. for approx. 2.3 miles; continue through gate into the Estates at Norton Creek, staying on Norton Creek for an additional 1 mi. Turn right onto Vasey Trillium Way and continue for approx. 1.4 mi. Turn left onto Margit Worsham Way & continue for approx. 0.8 mi., followed by a quick left to stay on Margit Worsham Way, where the property is located on your left (see sign). Public Remarks: Resting on one of the most desirable lots at the top of sought after Estates at Norton Creek, you'll find this rustically elegant ''Mountain Shingle'' style estate home. Construction of the highest quality on a very private one acre homesite perched on a walkable mountain top lot with panoramic views of the Smokies and Mount LeConte. Beautiful details abound in this spacious, 5BD/5BA, 2-half BA, 5,400+ sq ft mountain home, such as use of historic materials incorporated from owner's family Virgina farm. Special features include a variety of hardwoods, cathedral ceilings, coffered ceiling, two laundry rooms, reading den, fenced yard for pets, open decks, covered patio, fire pit, screened porch with a mountain stone fireplace and integrated stone pizza oven, attached two car garage and level

Atchd/Dtchd Type

Detached: 1

Style

Chalet: 1 Craftsman: 1 Other: 1

Construction

Frame: 1 Masonry: 1 Other: 1

Siding

Fiber Cement: 1

Fireplace

Gas Log: 1 Masonry: 1 Wood Burning: 1

Cooling

Ceiling Fan(s): 1 Central Cooling: 1 Zoned: 1

Floors

Carpet: 1 Hardwood: 1 Tile: 1

Garage/Parking

Attached: 1 Garage Door Opener: 1 Main Level: 1 Off-Street Parking: 1 Side/Rear Entry: 1

Basement

Finished: 1 Slab: 1 Walkout: 1

Lot Description

Irregular Lot: 1 Private: 1 Rolling Slope: 1 Wooded: 1

Fuel

Electric: 1 Propane: 1

View

Mountain View: 1 Wooded: 1

Heat

Heat Pump: 1 Zoned: 1

Community Amenities

Architect Restricted: 1 Club House: 1 Extra Storage: 1

Dining Area

Breakfast Bar: 1 Eat-in Kitchen: 1 Kitchen/Dining Rm Co: 1 Living Rm/Dining Rm: 1

Appliances

Dishwasher: 1 Disposal: 1 Gas Grill: 1 Gas Stove: 1 Microwave: 1 Range: 1 Refrigerator: 1 Security Alarm: 1 Self Cleaning Oven: 1 Smoke Detector: 1 Washer: 1

Other Rooms

Basement Rec Room: 1 Bedroom Main Level: 1 Den/Study: 1 Extra Storage: 1 Great Room: 1 Laundry/Utility: 1 Mstr Bdrm Main Level: 1 Rough-in-Room: 1

Exterior Features

Deck: 1 Patio: 1 Porch - Covered: 1 Porch - Enclosed: 1 Porch - Screened: 1 Prof Landscaped: 1 Windows - Insulated: 1

Misc Features

Cathedral Ceiling(s): 1 Kitchen Island: 1 Pantry: 1 Walk-in Shower: 1 Walk-In Closet(s): 1 Washer/Dryer Connect: 1 Wet Bar: 1

Sewer

Other: 1

Water

Well: 1

Association Fee Incl

All Amenities: 1 Other: 1

New Financing

Cash: 1 Conventional: 1

Showing

See Agent Instructns: 1

Location Tax Legal Info

House #: 1011 Street Name: Margit Worsham St Suffix: Way State/Province: TN Zip Code: 37738 PIN #: 125 010.28 000 Subdivision: Estates at Norton Creek Geo Lat: 35.727698 Geo Lon: -83.556426

Status Change Info

Status Change Date: 2021-10-22 Under Contract Date: 2021-09-14 Sold Date: 2021-10-20 Sold Price: $2,315,000

Property Features

Style: Chalet; Craftsman; Other Construction: Frame; Masonry; Other Siding: Fiber Cement Basement: Finished; Slab; Walkout Lot Description: Irregular Lot; Private; Rolling Slope; Wooded View: Mountain View; Wooded Fireplace: Gas Log; Masonry; Wood Burning Floors: Carpet; Hardwood; Tile Fuel: Electric; Propane Heat: Heat Pump; Zoned Cooling: Ceiling Fan(s); Central Cooling; Zoned Appliances: Dishwasher; Disposal; Gas Grill; Gas Stove; Microwave; Range; Refrigerator; Security Alarm; Self Cleaning Oven; Smoke Detector; Washer Sewer: Other Water: Well Other Rooms: Basement Rec Room; Bedroom Main Level; Den/Study; Extra Storage; Great Room; Laundry/Utility; Mstr Bdrm Main Level; Rough-in-Room Misc Features: Cathedral Ceiling(s); Kitchen Island; Pantry; Walk-in Shower; Walk-In Closet(s); Washer/Dryer Connect; Wet Bar Exterior Features: Deck; Patio; Porch - Covered; Porch - Enclosed; Porch - Screened; Prof Landscaped; Windows - Insulated Dining Area: Breakfast Bar; Eat-in Kitchen; Kitchen/Dining Rm Co; Living Rm/Dining Rm Community Amenities: Architect Restricted; Club House; Extra Storage Association Fee Incl: All Amenities; Other Showing: See Agent Instructns New Financing: Cash; Conventional

Room Information

Master Bedroom Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5 Great Room Rec Room Utility Room Utility Room Other Other Other Other Other Other Other Garage Bonus Room Other
Listing Office: Century 21 Legacy
Office Phone: 877-678-2121
Last Updated: February - 23 - 2023
1011 Margit Worsham Way, Gatlinburg, TN 37738- MLS# 1166013
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