Active

3168 W Gallaher Ferry Rd

Knoxville TN, 37932

$2,394,000


$416.35 per sqft

Active

5 Beds

5.5 Baths

5,750 sqft

Residential

Built in 1998

Priced below recent appraisal and owner is still offering financing as low as 4.8%. This Private, Gated, Architect-Designed Multigenerational Country Lakefront Estate is offered below comparables as the remodeling continues. The price will increase as the major projects are completed such as windows, doors and a new master suite on the main level. A list of improvements since acquisition includes: 2000ft of concrete driveway with large turn-arounds at the road, the workshop, and at the lakeside, a full-function communicating front gate, septic upgrade from 3-bedroom home to 6-bedroom home, 900-sqft woodworking shop with its own septic, which can be used as a anything from a recreation building to a stunning space to store and display collections, full-gut remodel of the 1100-sqft Master Retreat was completed in 2023. It includes 360-degree windows for fresh air, heated natural stone marble floors, showers and shelving spaces, a 400-sqft covered wrap-around 2nd story balcony with French entry doors in both the bathroom and in the bedroom, and a 400-sqft private loft study. The HVAC was gutted and replaced with two 5-ton Waterfurnace Series 7 geothermal heat pumps in 2022. A 750-sqft poured concrete basement was added in 2022 to serve the second geothermal unit and the solar mechanical equipment. This structure features a full bathroom, 450-sqft of rough shelved storage, and 300-sqft safe room/vault space. Finally, the solar installation, which handles all of the property's electrical needs: The installation provides as much as $4,500 of free electricity. For those not interested in solar power, the fully off-grid system can be abandoned with the switch of a circuit breaker, as municipal power from LCUB is maintained on the property. An automatic transfer switch will flip the electricity seamlessly from Solar to LCUB as desired. The system has been in operation since 2017 with a battery installation in 2019. All components benefit from a 10-year manufacturer's warranty, and are managed for a cost by Lloyd's Electric, the MSA's premier commercial/industrial electrical contractor.

The space is complete and lived-in as it is, and it is lovely. It features a full gut remodel of the main kitchen in 2014, which includes oversized cabinets, Wolf/Sub Zero appliances, and an open, yet intimate floorplan. All of the bathrooms were fully remodeled in 2023, which included all new plumbing, fixtures, and natural stone marble shower surrounds, floors, and vanity tops. The ongoing construction includes: Planning and construction of a master retreat on the main floor, scheduling and planning replacement of all windows and doors, a bathroom installation at lakeside, and removal of the EIFS stucco to be replaced by brick. Hundreds of smaller projects have been completed over the last year. Yet, the remaining projects are significant, and they are ongoing. As the projects progress to completion, their cost will be incorporated into the listed price of the property. As it stands, significant discounts were applied to the listing price to accommodate the end user that might want to save money on their next home purchase in exchange for doing the work at their own convenience.

1237218

MLS ID

August 21, 2023

Listed

February 16, 2024

Updated

Map

3168 W Gallaher Ferry Rd
Knoxville TN, 37932

Interior Features

Bedrooms

5 Beds


Bathrooms

5.5 Baths


Interior Features

Cathedral Ceiling(s), Island in Kitchen, Pantry, Walk-In Closet(s), Wet Bar, Breakfast Bar, Eat-in Kitchen


Appliances

Central Vacuum, Dishwasher, Disposal, Dryer, Gas Grill, Gas Stove, Tankless Wtr Htr, Smoke Detector, Self Cleaning Oven, Security Alarm, Refrigerator, Microwave, Intercom, Washer


Floor Description

Marble, Hardwood, Radiant Floors, Tile


Fireplace

Yes


Fireplace Description

Other, Gas


Cooling

Yes


Cooling Description

Central Cooling, Ceiling Fan(s), Zoned


Heating

Yes


Heating Description

Central, Heat Pump, Geo Heat (Closed Lp), Active Solar, Propane, Zoned, Electric

Exterior/Building Features

Lot Size

10.58 Acres


Exterior Features

Windows - Wood, Windows - Vinyl, Windows - Insulated, Patio, Porch - Covered, Prof Landscaped, Deck, Balcony, Doors - Energy Star, Dock


Lot Features

Waterfront Access, Private, Pond, Lakefront, Lake Access, Wooded, Current Dock Permit on File


Architectual Style

Contemporary, Solar


Sewer

Septic Tank

School Information

High School

Hardin Valley Academy

Other Property Details

Area Name

Knox County - 1


Garage

Yes


Garage Spaces

3


Parking

Garage Door Opener, Attached, Side/Rear Entry, Main Level


View

Yes


View Description

Seasonal Lake View, Wooded, Lake


County

Knox County - 1


Water Source

Well


Pool

No


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

1/6/2024

Price Change

$2,394,000

0%

11/9/2023

Price Change

$2,389,000

1%

9/18/2023

Price Change

$2,350,000

2%

 

Courtesy of Alliance Sotheby's International Realty, Amy Davis

Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Shannon Foster-Boline shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data last updated 2:46 AM UTC, 2/16/2024

 

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