2123 Luzerne Dr
Gatlinburg, TN 37738
$650,000
4 bd · 4 ba · 2,016 sqft · Listed 1d ago
View on Realtor.com →Year built
1981
Sqft
2,016
Lot sqft
14,375
HOA / mo
$192
Furnished
No
List date
2026-10-03T14:28:13.000000Z
Revenue
Annual revenue
$67,043
ADR
$346
Occupancy
53%
Cleaning fees (12 mo)
$12,340
Confidence
Med (57.38), 50 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $63,100
Bearadise - Sleeps 11 with a game room and resort amenities near Ober Gatlinburg
Chalet · 4 bd · 3 ba · sleeps 11 · 0.1 mi
Revenue $60,140ADR $414Occ ≈ 40%4★ (1)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Bearfoot Lodge - Pets Welcome & Hot Tub Chalet | 4 bd · 4 ba · sleeps 10 | $66,859 | $409 | 45% | 4.2★ (43) | 174 ft | AirbnbVrboBooking |
Moonshine Manor-Pets Ok-w/d-Pool Table-Arcade Cabin | 4 bd · 3 ba · sleeps 11 | $29,400 | $269 | 30% | 4.1★ (28) | 210 ft | AirbnbVrbo |
Honey Bear Lodge, 4BR, Hot Tub, Views, Resort Pool Cabin | 4 bd · 3 ba · sleeps 12 | $45,826 | $377 | 33% | 4.8★ (17) | 220 ft | AirbnbVrbo |
Stunning Views at Chateau LeConte • Hot Tub Chalet | 4 bd · 3 ba · sleeps 10 | $85,652 | $323 | 73% | 4.8★ (60) | 272 ft | AirbnbVrbo |
Bearadise- close to ski lodge and Gatlinburg! Cabin | 4 bd · 3 ba · sleeps 11 | $53,582 | $402 | 37% | 4.3★ (6) | 0.1 mi | AirbnbVrbo |
Bearadise - Sleeps 11 with a game room and resort amenities near Ober Gatlinburg Chalet | 4 bd · 3 ba · sleeps 11 | $60,140 | $414 | 40% | 4★ (1) | 0.1 mi | Booking |
Resort Chalet, Hot Tub, Downtown Cabin | 4 bd · 3 ba · sleeps 12 | $99,607 | $417 | 65% | 4.9★ (125) | 0.1 mi | AirbnbVrboBooking |
Gatlinburg Downtown View MtLeconte Tram Ski Hottub Chalet | 4 bd · 3 ba · sleeps 10 | $74,673 | $473 | 43% | 4.9★ (102) | 0.1 mi | AirbnbVrbo |
A Million Dollar View: Priceless Mountain Moments Cabin | 4 bd · 3 ba · sleeps 12 | $99,790 | $426 | 64% | 4.3★ (11) | 0.1 mi | AirbnbVrboBooking |
Fall View from A-Frame! Hot tub + Outdoor dining Cabin | 4 bd · 4 ba · sleeps 12 | $108,964 | $450 | 66% | 5★ (197) | 0.1 mi | AirbnbVrbo |
Show 27 more
Ober Lux Chalet
Chalet · 4 bd · 3 ba · sleeps 10 · 0.1 mi
Revenue $100,660ADR $359Occ ≈ 77%5★ (8)
Mtn View Cabin W Balcony, Sleeps 10・Hot Tub・Grill
Cabin · 4 bd · 4 ba · sleeps 10 · 0.2 mi
Revenue $13,767ADR $270Occ ≈ 14%—
Now booking fall/Winter!HOT TUB! 5 min to Nat'l Park,game room, theater, firepit
Cabin · 4 bd · 3 ba · sleeps 12 · 0.3 mi
Revenue $40,854ADR $474Occ ≈ 24%4.7★ (155)
Cubby Bear, Free Attraction Tickets, Game Room, Hot Tub, seasonal pool Access, WIFI!!!
Chalet · 4 bd · 4 ba · sleeps 12 · 0.3 mi
Revenue $52,644ADR $348Occ ≈ 41%—
Gatlinburg: 4 King Ensuites, Hot Tub, Pool Table
Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.3 mi
Revenue $50,401ADR $426Occ ≈ 32%4.8★ (4)
Up the Creek by American Patriot Getaways
Vacation home · 4 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $92,794ADR $347Occ ≈ 73%5★ (1)
Mommy Bear ~ Cozy Gatlinburg Cabin–5 Min to Skiing & more
Vacation home · 4 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $40,300ADR $391Occ ≈ 28%—
Hot Tub, Game Room, Sweeping Views, BBQ | Fontana
Cabin · 4 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $59,815ADR $340Occ ≈ 48%4.5★ (4)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Chestnut by AvantStay | Cabin w/ Treetop Views House | 4 bd · 3 ba · sleeps 10 | $43,627 | $398 | 30% | 4.8★ (63) | 0.1 mi | AirbnbVrbo |
Ober Lux Chalet Chalet | 4 bd · 3 ba · sleeps 10 | $100,660 | $359 | 77% | 5★ (8) | 0.1 mi | Booking |
Almost Heaven - Awesome mountain view Cabin | 4 bd · 3 ba · sleeps 10 | $1,994 | $397 | 1% | 4.7★ (145) | 0.2 mi | AirbnbVrbo |
Mid Century Mountain Getaway Cabin | 4 bd · 3.5 ba · sleeps 12 | $24,682 | $707 | 10% | 4.8★ (47) | 0.2 mi | AirbnbVrbo |
Chestnut by AvantStay | Cabin w/ Treetop Views House | 4 bd · 3 ba · sleeps 10 | $81,236 | $359 | 62% | 4.9★ (23) | 0.2 mi | AirbnbVrboBooking |
Fall Views/4 bedrooms/Ober Gburg/ Hot tub/Arcade Chalet | 4 bd · 3.5 ba · sleeps 11 | $63,100 | $357 | 48% | 4.8★ (126) | 0.2 mi | AirbnbVrbo |
Chalet Mins to Park 2 Living Rooms Hot Tub Arcade Cabin | 4 bd · 3 ba · sleeps 11 | $63,761 | $397 | 44% | 5★ (52) | 0.2 mi | AirbnbVrbo |
Pool|Game Room|Movie Room|Close 2 Downtown|Hot Tub Cabin | 4 bd · 3 ba · sleeps 12 | $113,264 | $452 | 69% | 5★ (60) | 0.2 mi | AirbnbVrbo |
Gatlinburg Sky-Tram Views 4BR, 4 Min From Parkway Chalet | 4 bd · 3 ba · sleeps 11 | $57,084 | $375 | 42% | 5★ (227) | 0.2 mi | AirbnbVrbo |
Big Bear Chalet House | 4 bd · 4.5 ba · sleeps 10 | $82,063 | $434 | 52% | 5★ (36) | 0.2 mi | AirbnbVrbo |
Bearfoot Getaway – Hot Tub, Games, Resort Pools Cabin | 4 bd · 3.5 ba · sleeps 13 | $77,443 | $452 | 47% | 4.8★ (26) | 0.2 mi | AirbnbVrboBooking |
Mtn View Cabin W Balcony, Sleeps 10・Hot Tub・Grill Cabin | 4 bd · 4 ba · sleeps 10 | $13,767 | $270 | 14% | — | 0.2 mi | Vrbo |
Mtn View Cabin W Balcony, Sleeps 10・Hot Tub・Grill Cabin | 4 bd · 3.5 ba · sleeps 10 | $48,452 | $346 | 38% | 4.7★ (16) | 0.2 mi | AirbnbVrboBooking |
Cabin w/ Hot Tub: 2 Mi to Downtown Gatlinburg! House | 4 bd · 3 ba · sleeps 9 | $44,929 | $370 | 33% | 4.3★ (144) | 0.3 mi | AirbnbVrboBooking |
Mountain Hideaway: Hot Tub » Theater » Pool Table Cabin | 4 bd · 4.5 ba · sleeps 10 | $88,297 | $505 | 48% | 5★ (134) | 0.3 mi | AirbnbVrbo |
Now booking fall/Winter!HOT TUB! 5 min to Nat'l Park,game room, theater, firepit Cabin | 4 bd · 3 ba · sleeps 12 | $40,854 | $474 | 24% | 4.7★ (155) | 0.3 mi | Vrbo |
Cubby Bear, Free Attraction Tickets, Game Room, Hot Tub, seasonal pool Access, WIFI!!! Chalet | 4 bd · 4 ba · sleeps 12 | $52,644 | $348 | 41% | — | 0.3 mi | Booking |
Cubby Bear, Free Tickets, Game Room, Hot Tub, WIFI Cabin | 4 bd · 4.5 ba · sleeps 12 | $94,532 | $433 | 60% | 4★ (12) | 0.3 mi | AirbnbVrbo |
Gatlinburg: 4 King Ensuites, Hot Tub, Pool Table Cabin | 4 bd · 4.5 ba · sleeps 12 | $50,401 | $426 | 32% | 4.8★ (4) | 0.3 mi | Airbnb |
Chalet Luzerne 1860 - Hot Tub, pool table, & more! Cabin | 4 bd · 3.5 ba · sleeps 12 | $61,457 | $444 | 38% | 4.6★ (28) | 0.3 mi | AirbnbVrbo |
Perfect Getaway+3 Pools+Hot Tub+Game Rm+@ Ober Mtn Cabin | 4 bd · 3 ba · sleeps 12 | $41,365 | $391 | 29% | 5★ (84) | 0.3 mi | AirbnbVrbo |
Bear Sanctuary - Authentic Log Cabin Cabin | 4 bd · 4 ba · sleeps 12 | $95,251 | $401 | 65% | 4.9★ (251) | 0.3 mi | AirbnbVrbo |
Up the Creek by American Patriot Getaways Vacation home | 4 bd · 3 ba · sleeps 10 | $92,794 | $347 | 73% | 5★ (1) | 0.3 mi | Booking |
Amazing Views-3 Summer Pools-HotTub-Near Natl Park Cabin | 4 bd · 3 ba · sleeps 10 | $75,822 | $846 | 25% | 5★ (14) | 0.3 mi | AirbnbVrbo |
3 En-Suites • Views • 10 Min to G’burg • Pets OK! Cabin | 4 bd · 3.5 ba · sleeps 12 | $66,652 | $342 | 53% | 4.8★ (37) | 0.3 mi | AirbnbVrbo |
Mommy Bear ~ Cozy Gatlinburg Cabin–5 Min to Skiing & more Vacation home | 4 bd · 3 ba · sleeps 10 | $40,300 | $391 | 28% | — | 0.3 mi | Booking |
Hot Tub, Game Room, Sweeping Views, BBQ | Fontana Cabin | 4 bd · 3 ba · sleeps 10 | $59,815 | $340 | 48% | 4.5★ (4) | 0.3 mi | Airbnb |
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 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium
Est. revenue
$67,043
NOI
$35,859
Cash flow /mo
-$599
Cash needed
$217,500
Cash-on-cash
-3.3%
ROE (yr 1)
7.5%
Cap rate
5.5%
DSCR
0.83
Year-1 write-off
$166,643
Year-1 tax shield @ 32%
$53,326
Year-1 return on equity
- Cash flow (annual)-$7,189
- Principal paydown$4,048
- Appreciation at%$19,500
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)$13,409
- Platform fees (3% of revenue)$2,011
- Maintenance / capex (5% of revenue)$3,352
- Utilities & supplies$4,200
- HOA$2,304
- Property tax$2,008
- Insurance (STR-rated)$3,900
Cash needed to close
- Down payment (25%)$162,500
- Closing costs (4.0%)$26,000
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$53,326
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
$504,000
Short-life (5/15-yr)
$137,000 · 27%
Year-1 deduction
$167,000
Year-1 tax shield @ 32%
$53,000
Land 22% (county tax record, market value split) · building $367,000 over 39 years · new furniture $29,000
Based on: 2,016 sq ft, built 1981, 4 bd / 4 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $105,000 in year 1 (15% short-life, $34,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,900
Kitchen cabinetsdefault
$10,200 new × 40% good × 2.92 allocation
- $9,800
Kitchen countertopsdefault
$8,400 new × 40% good × 2.92 allocation
- $4,100
Decorative trimdefault
$3,500 new × 40% good × 2.92 allocation
- $700
Mirrorsdefault
$600 new × 40% good × 2.92 allocation
- $1,800
Shelvingdefault
$1,500 new × 40% good × 2.92 allocation
- $5,800
Window coverings (20)default
$5,000 new × 40% good × 2.92 allocation
- $6,100
Carpet, vinyl & laminate (40% of floors)default
$5,200 new × 40% good × 2.92 allocation
- $9,300
Kitchen & laundry equipment plumbingdefault
$8,000 new × 40% good × 2.92 allocation
- $5,600
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 40% good × 2.92 allocation
- $9,000
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 2.92 allocation
- $10,500
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.92 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $13,600
Paving: driveway & walks (paved)default
$9,300 new × 50% good × 2.92 allocation
- $13,100
Landscaping (typical)default
$9,000 new × 50% good × 2.92 allocation
- $2,900
Patiosdefault
$2,000 new × 50% good × 2.92 allocation
- $33,100
Decks & porches (attached)listing
$22,700 new × 50% good × 2.92 allocation
- $254,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$218,200 new × 40% good × 2.92 allocation
- $26,500
Building plumbing & fixturesdefault
$22,700 new × 40% good × 2.92 allocation
- $26,700
Building electrical & lightingdefault
$22,800 new × 40% good × 2.92 allocation
- $26,500
HVACdefault
$22,700 new × 40% good × 2.92 allocation
- $9,100
Hardwood & tile floorsdefault
$7,800 new × 40% good × 2.92 allocation
- $6,100
Fireplaces (2)listing
$5,300 new × 40% good × 2.92 allocation
- $17,500
Septic systemlisting
$12,000 new × 50% good × 2.92 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $103,600 | $62,700 | $400 | $166,600 |
| 2 | $0 | $0 | $9,400 | $9,400 |
| 3 | $0 | $0 | $9,400 | $9,400 |
| 4 | $0 | $0 | $9,400 | $9,400 |
| 5 | $0 | $0 | $9,400 | $9,400 |
| 6+ | $0 | $0 | $329,200 | $329,200 |
| Total | $103,600 | $62,700 | $367,200 | $533,500 |
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.