Spacious Condo with Mountain
For Sale
$400,000
1130 Ski View Drive, Gatlinburg, TN 37738
Expansive 3-bedroom condo near downtown Gatlinburg with mountain views.
Property Size2,127 SF
Days on Market301
Property Features for 1130 Ski View Drive
General Information
Standard status
Active
Size
2,127 SF
Property subtype
Condominium
Amenities
Fireplace
Cable Ready
Electric
Heat Pump
Dishwasher
Dryer
Electric Cooktop
Electric Range
Microwave
Microwave Range Hood Combo
Range Hood
Refrigerator
Self Cleaning Oven
Washer
Patio, Porch, Cable Connected, Electricity Connected, High Speed Internet Connected, Internet Connected, Sewer Connected, Water Connected
Building Details
Building Size
2,127 SF
Year Built
1985
Stories
2
Listing Agency:
Century 21 Legacy GP
(877) 678-2121
Listed By:
The Jason White Team
Source:
Kw
Added: Oct 27, 2025
Changed: Aug 8
Last Checked: Aug 23 at 12:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Legacy GP
Investment Insights
Based on property information with market context.
This expansive contemporary condo features three bedrooms and three bathrooms, offering over 2,100 square feet of living space spread across two floors. The property boasts captivating mountain views and is conveniently located just 10 minutes from downtown Gatlinburg. The main level includes a generously sized great room with vaulted ceilings and a wood-burning stacked mountain-stone fireplace. The open-concept kitchen features a bar and an adjacent dining area. The floor plan includes two bedroom suites on the main floor, each with private bathrooms and walk-in closets, along with a large laundry room and ample storage space. Upstairs, the primary suite offers a whirlpool tub, dressing area, vaulted ceilings, mountain and valley views, and ample closet space. A private screened-in porch allows enjoyment of the mountain air year-round. Located in Chalet Village, Windswept Condominiums are of high-quality masonry construction. Residents have access to a pool and hot tub patio, along with a top-level observation deck. The property is part of a successful rental program, generating supplemental income. Its proximity to attractions like the Great Smoky National Park and Ober Mountain Ski Resort makes it suitable for Smoky Mountain adventures.
Key Highlights
- $5,000 seller credit for rate buy down.
- Expansive 2,100+ sq ft condo with 3 bedrooms and 3 bathrooms.
- Captivating mountain views from multiple vantage points.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,793
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$315,860
$315.9K
Cap Rate 7%
$225,614
$225.6K
Cap Rate 9%
$175,478
$175.5K
Market Conditions
NOI Build-Up for 2,127 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.9K $15.00/SF
− Vacancy
−$3.2K −$1.50/SF
EGI
$28.7K $13.50/SF
− OpEx
−$12.9K −$6.08/SF
NOI
$15.8K $7.43/SF
Area
Sevier County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$315,860
Cap Rate 7%
$225,614
Cap Rate 9%
$175,478
Alternative Uses
Best Use
Apartment 5plus
$225.6K
$197.4K – $263.2K
NOI $15,793 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$897.0K
$784.9K – $1.05M
NOI $62,789 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Explore this area
Business Placement
Demographics for 37738, TN
5,001
Population
7,075
Households
0.7
Avg Household Size
49
Median Age
31%
College-Educated
91%
High-School Grad
214.6 sq mi
ZIP Area
23
Density / Sq Mi
$63,133
Median Household Income
$29,169
Median Earnings
$1,090
Median Rent
$275,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Expansive 3-bedroom condo near downtown Gatlinburg with mountain views.
Where is this apartment building located?
The property is located at 1130 Ski View Drive Gatlinburg, TN.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: $5,000 seller credit for rate buy down.; Expansive 2,100+ sq ft condo with 3 bedrooms and 3 bathrooms.; Captivating mountain views from multiple vantage points.
