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2572 Highland Park Dr

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 →
Low confidence

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)

$28,110$51,289$53,312

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $51,289

  • 5BR Forest Retreat, 2 Cabins, Near Pigeon Forge

    Cabin · 5 bd · 3 ba · sleeps 10 · 7 ft

    Revenue $49,447ADR $388Occ ≈ 35%4.5★ (65)

    AirbnbBooking

  • 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)

    Booking

  • Beautiful Log Cabin in Heart of Pigeon Forge

    Cabin · 5 bd · 3.5 ba · sleeps 14 · 0.1 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +4

    Revenue $20,998ADR $636Occ ≈ 9%4.9★ (54)

    AirbnbVrbo

  • 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)

    Delisted

  • Rocky Top - Pet Friendly, Arcades, Wooded Views

    Cabin · 5 bd · 3 ba · sleeps 11 · 0.3 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $68,292ADR $500Occ ≈ 37%4.3★ (47)

    AirbnbVrbo

  • Amazing Grace Where Peace Finds You

    Chalet · 5 bd · 4 ba · sleeps 12 · 0.5 mi

    Revenue $53,373ADR $327Occ ≈ 45%—

    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

Financing
Management

Est. revenue

$47,025

NOI

$21,313

Cash flow /mo

$1,776

Cash needed

$1,170,500

Cash-on-cash (all cash)

1.8%

ROE (yr 1)

4.6%

Cap rate

1.9%

DSCR

—

Year-1 write-off

$275,995

Year-1 tax shield @ 32%

$88,319

Year-1 return on equity

  • Cash flow (annual)$21,313
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$33,000
ROE4.6%

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

  • Purchase price (all cash)$1,100,000
  • 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.

5-year property$150,600

  • Kitchen cabinetsdefault

    $11,800 new × 40% good × 4.09 allocation

    $19,300

  • Kitchen countertopsdefault

    $9,700 new × 40% good × 4.09 allocation

    $15,800

  • Decorative trimdefault

    $4,800 new × 40% good × 4.09 allocation

    $7,900

  • Mirrorsdefault

    $500 new × 40% good × 4.09 allocation

    $700

  • Shelvingdefault

    $1,800 new × 40% good × 4.09 allocation

    $2,900

  • Window coverings (27)default

    $6,800 new × 40% good × 4.09 allocation

    $11,000

  • Carpet, vinyl & laminate (100% of floors)listing

    $17,700 new × 40% good × 4.09 allocation

    $28,900

  • Kitchen & laundry equipment plumbingdefault

    $9,200 new × 40% good × 4.09 allocation

    $15,100

  • Kitchen, laundry & data equipment electricaldefault

    $5,600 new × 40% good × 4.09 allocation

    $9,100

  • Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing

    $8,100 new × 40% good × 4.09 allocation

    $13,300

  • Furniture bought newlisting

    $26,500 new × 100% good · bought separately

    $26,500
15-year land improvements$124,700

  • Paving: driveway & walks (paved)default

    $10,900 new × 50% good × 4.09 allocation

    $22,200

  • Landscaping (typical)default

    $10,500 new × 50% good × 4.09 allocation

    $21,400

  • Patiosdefault

    $2,700 new × 50% good × 4.09 allocation

    $5,600

  • Decks & porches (attached)listing

    $30,900 new × 50% good × 4.09 allocation

    $63,200

  • Fencinglisting

    $6,000 new × 50% good × 4.09 allocation

    $12,300
Building, 39-year$645,900

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $298,000 new × 40% good × 4.09 allocation

    $487,700

  • Building plumbing & fixturesdefault

    $31,000 new × 40% good × 4.09 allocation

    $50,700

  • Building electrical & lightingdefault

    $32,100 new × 40% good × 4.09 allocation

    $52,500

  • HVACdefault

    $31,000 new × 40% good × 4.09 allocation

    $50,700

  • Fireplacelisting

    $2,600 new × 40% good × 4.09 allocation

    $4,300

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.