2572 Highland Park Dr
Pigeon Forge, TN 37863
$1,100,000
5 bd · 3 ba · 2,748 sqft · Listed 1d ago
View on Realtor.com →Year built
1987
Sqft
2,748
Lot sqft
19,166
HOA / mo
None
Furnished
No
List date
2026-10-28T15:19:47.000000Z
Revenue
Annual revenue
$47,025
ADR
$313
Occupancy
41%
Cleaning fees (12 mo)
$9,063
Confidence
Med (55.19), 6 comps
Comp revenue range (p25 / median / p75)
Few similar-size comps were found, so all comps are shown.
Median revenue of shown comps: $51,289
2BR, slps 10, 8 min to Dollywood, hot tub!
Chalet · 5 bd · 2 ba · sleeps 10 · 194 ft
Revenue $53,130ADR $208Occ ≈ 70%4.9★ (6)
Indulge In Luxury at Paw Paws 4 BD/3BA Cabin w/Indoor Pool & Hot Tub!
Cabin · 5 bd · 3 ba · sleeps 12 · 0.3 mi
Revenue $18,965ADR $831Occ ≈ 6%3.7★ (3)
Amazing Grace Where Peace Finds You
Chalet · 5 bd · 4 ba · sleeps 12 · 0.5 mi
Revenue $53,373ADR $327Occ ≈ 45%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
5BR Forest Retreat, 2 Cabins, Near Pigeon Forge Cabin | 5 bd · 3 ba · sleeps 10 | $49,447 | $388 | 35% | 4.5★ (65) | 7 ft | AirbnbVrboBooking |
2BR, slps 10, 8 min to Dollywood, hot tub! Chalet | 5 bd · 2 ba · sleeps 10 | $53,130 | $208 | 70% | 4.9★ (6) | 194 ft | Booking |
Beautiful Log Cabin in Heart of Pigeon Forge Cabin | 5 bd · 3.5 ba · sleeps 14 | $20,998 | $636 | 9% | 4.9★ (54) | 0.1 mi | AirbnbVrbo |
Indulge In Luxury at Paw Paws 4 BD/3BA Cabin w/Indoor Pool & Hot Tub! Cabin | 5 bd · 3 ba · sleeps 12 | $18,965 | $831 | 6% | 3.7★ (3) | 0.3 mi | Vrbo |
Rocky Top - Pet Friendly, Arcades, Wooded Views Cabin | 5 bd · 3 ba · sleeps 11 | $68,292 | $500 | 37% | 4.3★ (47) | 0.3 mi | AirbnbVrbo |
Amazing Grace Where Peace Finds You Chalet | 5 bd · 4 ba · sleeps 12 | $53,373 | $327 | 45% | — | 0.5 mi | Booking |
Revenue and nightly rate (ADR) are trailing-12-month figures per listing. Occupancy is estimated as revenue ÷ ADR ÷ 365 and can read high when revenue includes cleaning fees.
Cash flow calculator
Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium
Est. revenue
$47,025
NOI
$21,313
Cash flow /mo
-$4,318
Cash needed
$345,500
Cash-on-cash
-15.0%
ROE (yr 1)
-3.5%
Cap rate
1.9%
DSCR
0.29
Year-1 write-off
$275,995
Year-1 tax shield @ 32%
$88,319
Year-1 return on equity
- Cash flow (annual)-$51,813
- Principal paydown$6,797
- Appreciation at%$33,000
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$9,405
- Platform fees (3% of revenue)$1,411
- Maintenance / capex (5% of revenue)$2,351
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,745
- Insurance (STR-rated)$6,600
Cash needed to close
- Down payment (25%)$275,000
- Closing costs (4.0%)$44,000
- Furnishing (bought new)$26,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$88,319
Property tax, insurance rate and the land/building split come from this listing's county tax record; other assumptions match the daily feed (see tasks/plan.md).
The write-off comes from the cost segregation estimate below. Not tax advice.
Cost segregation estimate
An estimate from the listing: every part of the home is priced from national construction costs, less wear for age, and the price (less land) is spread over the parts in proportion. The headline is what a typical cost seg study would claim for this property. The answers below are optional refinements.
Depreciable basis
$895,000
Short-life (5/15-yr)
$249,000 · 28%
Year-1 deduction
$276,000
Year-1 tax shield @ 32%
$88,000
Land 19% (county tax record, market value split) · building $646,000 over 39 years · new furniture $27,000
Based on: 2,748 sq ft, built 1987, 5 bd / 3 ba, unfurnished, listing features (deck, fence, fireplace, flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $166,000 in year 1 (16% short-life, $53,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $19,300
Kitchen cabinetsdefault
$11,800 new × 40% good × 4.09 allocation
- $15,800
Kitchen countertopsdefault
$9,700 new × 40% good × 4.09 allocation
- $7,900
Decorative trimdefault
$4,800 new × 40% good × 4.09 allocation
- $700
Mirrorsdefault
$500 new × 40% good × 4.09 allocation
- $2,900
Shelvingdefault
$1,800 new × 40% good × 4.09 allocation
- $11,000
Window coverings (27)default
$6,800 new × 40% good × 4.09 allocation
- $28,900
Carpet, vinyl & laminate (100% of floors)listing
$17,700 new × 40% good × 4.09 allocation
- $15,100
Kitchen & laundry equipment plumbingdefault
$9,200 new × 40% good × 4.09 allocation
- $9,100
Kitchen, laundry & data equipment electricaldefault
$5,600 new × 40% good × 4.09 allocation
- $13,300
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 40% good × 4.09 allocation
- $26,500
Furniture bought newlisting
$26,500 new × 100% good · bought separately
- $22,200
Paving: driveway & walks (paved)default
$10,900 new × 50% good × 4.09 allocation
- $21,400
Landscaping (typical)default
$10,500 new × 50% good × 4.09 allocation
- $5,600
Patiosdefault
$2,700 new × 50% good × 4.09 allocation
- $63,200
Decks & porches (attached)listing
$30,900 new × 50% good × 4.09 allocation
- $12,300
Fencinglisting
$6,000 new × 50% good × 4.09 allocation
- $487,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$298,000 new × 40% good × 4.09 allocation
- $50,700
Building plumbing & fixturesdefault
$31,000 new × 40% good × 4.09 allocation
- $52,500
Building electrical & lightingdefault
$32,100 new × 40% good × 4.09 allocation
- $50,700
HVACdefault
$31,000 new × 40% good × 4.09 allocation
- $4,300
Fireplacelisting
$2,600 new × 40% good × 4.09 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $150,600 | $124,700 | $700 | $276,000 |
| 2 | $0 | $0 | $16,600 | $16,600 |
| 3 | $0 | $0 | $16,600 | $16,600 |
| 4 | $0 | $0 | $16,600 | $16,600 |
| 5 | $0 | $0 | $16,600 | $16,600 |
| 6+ | $0 | $0 | $578,900 | $578,900 |
| Total | $150,600 | $124,700 | $645,900 | $921,200 |
The building's share of the price ($895,000) is 4.1x our depreciated replacement cost of the home ($219,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
Model-based estimate, not an engineered cost segregation study. The IRS doesn’t approve studies; get a professional study before filing. Using these losses against W-2 income needs the short-term rental exception (average stay ≤7 days + material participation). The 39-year building life applies because stays average under 30 days, a separate test (27.5 years for a long-term rental). Federal only: California, Georgia and Wisconsin disallow bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.
Market note
STR allowed in most of Sevier County; inside Gatlinburg city limits only in overnight-rental zones.