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  • $625,000

    515 Patterson Ln, Gatlinburg, TN 37738

    2beds
    1,158sqft
    Single Family Residence, Residential
    Built in 1993
    1,742 Square Feet Lot
    $491,400 Zestimate®
    $540/sqft
    $6,199 Estimated rent

    Home value

    $491,400

    $452,000 - $531,000

    $6,199/mo

    Zestimate® history
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    What's special

    PRICE DROP! Here are the highlights! 5 mins from Downtown Gatlinburg. Beautiful VIEWS! NEW roof, HVAC, water heater, major kitchen appliances, and crawlspace encapsulation! $65k projected income! Smart home technology! Location, Location, Location! ~~ Welcome to The Red Bird's Nest, a beautiful 2 bdrm, 2 bath cabin with amazing views of Mt. LeConte, Clingmans Dome, and the north range of the Smokies. Located in the sought after Glades area in the heart of the Arts & Crafts District of Gatlinburg. It's just minutes from downtown Gatlinburg, Dollywood, and Pigeon Forge attractions and a 2-minute drive or short walk to Mills Park, the Gatlinburg Community Center, and Rocky Top Sports complex. ~~ Profitable with room to grow! ~~ The current owners have built a 5-star reputation for Red Birds Nest and are ready to retire. This presents a great opportunity for someone looking for a lucrative investment. It is a highly profitable turnkey rental cabin with room to generate even more income. Past revenue numbers are based on a schedule shared with friends and family (free of charge), and a 5-person capacity. Just add a sleeper sofa to accommodate 7 guests and open the calendar. The bookings will roll in! There's nothing to do but take over operations and reap the rewards. ~~ Completely updated! ~~ Nearly every major appliance is new, and all the big-ticket systems have been replaced in the last ~2 years. This includes a new kitchen with granite countertops, new stainless-steel appliances, oversized HVAC, metal roof in 2023, interior and exterior paint, on demand hot water heater, crawlspace wrapping with dehumidifier, reverse osmosis system, all new quality interior doors, and added foundation supports. You should not have to replace or repair anything for many years! ~~ Comfort and Style! ~~ With 1,158 sq ft of beautifully appointed and decorated open floor plan living space. You'll love all the modern touches and automation while preserving the cozy cottage feel.

    Zillow last checked:

    Listing updated:

    Listed by:

    Brook Holmes 865-966-1111,

    Wallace

    Bought with:

    Natalie Scott, 362317

    MG Rise Real Estate Group

    Source: RealTracs MLS as distributed by MLS GRID,MLS#: 2870505MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 2
    • Bathrooms: 2
    • Full bathrooms: 2
    Heating
    • Electric, Heat Pump
    Cooling
    • Central Air
    Appliances
    • Included: Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Oven, Washer
    • Laundry: Washer Hookup, Electric Dryer Hookup
    Features
    • Pantry
    • Flooring: Carpet, Wood, Laminate, Tile
    • Basement: Crawl Space
    • Number of fireplaces: 1
    Interior area
    • Total structure area: 1,158
    • Total interior livable area: 1,158 sqft
    • Finished area above ground: 1,158

    Property

    Parking
    • Total spaces: 2
    • Parking features: Attached
    • Has attached garage: Yes
    • Carport spaces: 2
    Features
    • Levels: Two
    • Stories: 2
    • Patio & porch: Deck, Patio, Porch, Covered
    • Exterior features: Gas Grill
    • Has view: Yes
    • View description: Mountain(s)
    Lot
    • Size: 1,742 Square Feet
    • Features: Cul-De-Sac, Private, Wooded, Other, Rolling Slope
    • Topography: Cul-De-Sac,Private,Wooded,Other,Rolling Slope
    Details
    • Parcel number: 118H A 00700 000
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: SingleFamily
    • Architectural style: Other
    • Property subtype: Single Family Residence, Residential
    Materials
    • Frame, Other
    Condition
    • New construction: No
    • Year built: 1993

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Available, Water Available
    Green energy
    • Energy efficient items: Water Heater

    Community & HOA

    Community
    • Security: Security System, Smoke Detector(s)
    • Subdivision: Stevens-Cole Pud
    Location
    • Region: Gatlinburg

    Financial & listing details

    • Price per square foot: $540/sqft
    • Tax assessed value: $211,700
    • Annual tax amount: $863
    • Date on market: 8/25/2023
    • Electric utility on property: Yes

    Price history

    DateEventPrice
    3/29/2024Listing removed--
    Source: East Tennessee Realtors #1224746 Report a problem
    10/6/2023Sold$625,000$540/sqft
    Source: RealTracs MLS as distributed by MLS GRID #2870505 Report a problem
    8/25/2023Pending sale$625,000$540/sqft
    Source: East Tennessee Realtors #1232112 Report a problem
    8/21/2023Price change$625,000-3.1%$540/sqft
    Source: East Tennessee Realtors #1232112 Report a problem
    8/17/2023Price change$645,000-1.4%$557/sqft
    Source: East Tennessee Realtors #1232112 Report a problem
    8/1/2023Price change$654,000-0.8%$565/sqft
    Source: East Tennessee Realtors #1232112 Report a problem
    7/5/2023Listed for sale$659,000-3.1%$569/sqft
    Source: East Tennessee Realtors #1232112 Report a problem
    6/16/2023Listing removed--
    Source: GSMAR, GSMMLS #256975 Report a problem
    6/5/2023Listed for sale$679,900$587/sqft
    Source: GSMAR, GSMMLS #256975 Report a problem
    6/5/2023Pending sale$679,900$587/sqft
    Source: GSMAR, GSMMLS #256975 Report a problem
    6/5/2023Price change$679,900-1.4%$587/sqft
    Source: East Tennessee Realtors #1224746 Report a problem
    5/27/2023Pending sale$689,900$596/sqft
    Source: East Tennessee Realtors #1224746 Report a problem
    5/13/2023Price change$689,900-0.7%$596/sqft
    Source: East Tennessee Realtors #1224746 Report a problem
    5/5/2023Price change$695,000-4.1%$600/sqft
    Source: East Tennessee Realtors #1224746 Report a problem
    4/27/2023Price change$725,000-9.3%$626/sqft
    Source: GSMAR, GSMMLS #256975 Report a problem
    4/23/2023Listed for sale$799,000+207.3%$690/sqft
    Source: East Tennessee Realtors #1224746 Report a problem
    3/18/2020Sold$260,000+4%$225/sqft
    Source: Agent Provided Report a problem
    2/24/2020Pending sale$249,900$216/sqft
    Source: Smoky Mountain Real Estate Corporation #226531 Report a problem
    2/14/2020Price change$249,900-3.8%$216/sqft
    Source: Smoky Mountain Real Estate Corporation #226531 Report a problem
    2/3/2020Listed for sale$259,900$224/sqft
    Source: Smoky Mountain Real Estate Corporation #226531 Report a problem
    1/23/2020Pending sale$259,900$224/sqft
    Source: Smoky Mountain Real Estate Corporation #226531 Report a problem
    1/20/2020Listed for sale$259,900+36.8%$224/sqft
    Source: Smoky Mountain Real Estate Corporation #226531 Report a problem
    9/14/2017Sold$190,000-9.5%$164/sqft
    Source: Agent Provided Report a problem
    9/6/2017Pending sale$209,900$181/sqft
    Source: Smoky Mountain Real Estate Corporation #210230 Report a problem
    8/2/2017Price change$209,900-4.5%$181/sqft
    Source: Smoky Mountain Real Estate Corporation #210230 Report a problem
    6/5/2017Listed for sale$219,900$190/sqft
    Source: Smoky Mountain Real Estate Corporation #210230 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$1,360 $84,680
    2024$1,360 +57.6%$84,680 +57.6%
    2023$863 $53,725
    2022$863 $53,725
    2021-- $53,725 +74.4%
    2020$622 +8.6%$30,800
    2019$573 -7.9%$30,800
    2018$622 0%$30,800
    2017$622 $30,800
    2016$622 $30,800 -6.9%
    2015-- $33,075 0%
    2014$592 $33,084
    2013$592 0%$33,084
    2012$592 +0%$33,084
    2011$592 $33,084
    2010-- $33,084 -14.3%
    2009$652 $38,606
    2008$652 $38,606
    2007$652 +13.4%$38,606
    2006$575 -19%$38,606
    2005$709 +35.4%$38,606 +35.4%
    2004$524 +12.9%$28,515
    2002$464 $28,515
    2001-- $28,515 -75%
    2000-- $114,059
    Find assessor info on the county website

    Neighborhood: 37738

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • Elementary: Pittman Center Elementary
    • Middle: Pigeon Forge Junior High School
    • High: Gatlinburg Pittman High

    Source: RealTracs MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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    Estimated market value
    $491,400
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $491,400