I just read that Sevierville, Tennessee is the best place in the country to purchase a vacation home. Obviously, I agree because of its proximity to Dollywood, but peel back my bias and there’s still good reason to give the Smokies a second look if you’re in the market.
The article published on CNBC cited the median home price in Sevierville as $239,976 with a capitalization rate of 10.3 percent. [Full disclosure: I have a journalism degree. I called a real estate agent to break this down for me.]
So, say you purchase a home for $240,000 as an investment. Your potential annual net income from renting that home is $24,720. That’s $24,720 after annual expenses (taxes, maintenance, insurance, etc.). Not too shabby!
This article lists the top 10 markets to buy (as far as return on your investment is concerned), and Dolly’s hometown tops the list!
I just thought that if you’re reading Dollywood’s Blog, you are already interested in our great theme park. I’m trying to give you more reasons to be around more often. 😉