625 Asbury Ln
Gatlinburg, TN 37738
$549,000
2 bd · 2.5 ba · 1,959 sqft · Listed 5d ago
View on Realtor.com →Year built
1953
Sqft
1,959
Lot sqft
3,920
HOA / mo
None
Furnished
No
List date
2026-09-22T19:28:14Z
Revenue
Annual revenue
$35,506
ADR
$167
Occupancy
58%
Cleaning fees (12 mo)
$6,380
Confidence
Med (59.6), 49 comps
Comp revenue range (p25 / median / p75)
SkyBridge Views/15 min to DT Gatlinburg/sleeps6
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $127Occ ≈ —4.8★ (225)
Snowbird Sanctuary Center of Gatlinburg
2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue —ADR $238Occ ≈ —4.2★ (7)
—
Great condo walking distance to downtown Gatlinburg & Convention center
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $194Occ ≈ —5★ (267)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Downtown, SkyBridge View, 2-Free Parking! | 2 bd · 2 ba · sleeps 6 | — | $174 | — | 4.9★ (148) | 0.2 mi | AirbnbVrbo |
SkyBridge Views/15 min to DT Gatlinburg/sleeps6 | 2 bd · 2 ba · sleeps 6 | — | $127 | — | 4.8★ (225) | 0.2 mi | Airbnb |
Snowbird Sanctuary Center of Gatlinburg | 2 bd · 2 ba · sleeps 4 | — | $238 | — | 4.2★ (7) | 0.2 mi | — |
Downtown Cabin w/ Wraparound Deck & Fireplaces | 2 bd · 2 ba · sleeps 6 | — | $163 | — | 4.6★ (82) | 0.2 mi | AirbnbVrbo |
Midtown Bears Den: Downtown Gatlinburg Awaits | 2 bd · 2 ba · sleeps 6 | — | $224 | — | 4.8★ (17) | 0.2 mi | AirbnbVrbo |
Downtown Gatlinburg Condo – Walk to Attractions! | 2 bd · 2 ba · sleeps 6 | — | $176 | — | 4.7★ (96) | 0.2 mi | AirbnbVrbo |
Romantic Mountain Escape – Jacuzzi & Fireplaces | 2 bd · 2 ba · sleeps 4 | — | $187 | — | 4.8★ (113) | 0.2 mi | AirbnbVrbo |
Deer Field: Downtown Gatlinburg at Your Door | 2 bd · 2 ba · sleeps 6 | — | $192 | — | 4.9★ (18) | 0.2 mi | AirbnbVrbo |
Great condo walking distance to downtown Gatlinburg & Convention center | 2 bd · 2 ba · sleeps 6 | — | $194 | — | 5★ (267) | 0.2 mi | Vrbo |
Private Jacuzzi, 2BR/2BA 15min walking Downtown | 2 bd · 2 ba · sleeps 6 | — | $142 | — | 4.8★ (362) | 0.3 mi | AirbnbVrbo |
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 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$35,506
NOI
$17,009
Cash flow /mo
-$1,541
Cash needed
$175,210
Cash-on-cash
-10.6%
ROE (yr 1)
0.9%
Cap rate
3.1%
DSCR
0.48
Year-1 write-off
$117,205
Year-1 tax shield @ 32%
$37,506
Year-1 return on equity
- Cash flow (annual)-$18,491
- Principal paydown$3,593
- Appreciation at%$16,470
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$7,101
- Platform fees (3% of revenue)$1,065
- Maintenance / capex (5% of revenue)$1,775
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,061
- Insurance (STR-rated)$3,294
Cash needed to close
- Down payment (25%)$137,250
- Closing costs (4.0%)$21,960
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$37,506
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
$458,000
Short-life (5/15-yr)
$100,000 · 22%
Year-1 deduction
$117,000
Year-1 tax shield @ 32%
$38,000
Land 17% (county tax record, market value split) · building $358,000 over 39 years · new furniture $16,000
Based on: 1,959 sq ft, built 1953, 2 bd / 2.5 ba, unfurnished, listing features (fireplace, flooring types).
IRS-guide safe-harbor floor: $86,000 in year 1 (15% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $12,300
Kitchen cabinetsdefault
$10,100 new × 40% good × 3.04 allocation
- $10,000
Kitchen countertopsdefault
$8,300 new × 40% good × 3.04 allocation
- $4,200
Decorative trimdefault
$3,400 new × 40% good × 3.04 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 3.04 allocation
- $1,100
Shelvingdefault
$900 new × 40% good × 3.04 allocation
- $6,100
Window coverings (20)default
$5,000 new × 40% good × 3.04 allocation
- $9,600
Kitchen & laundry equipment plumbingdefault
$7,900 new × 40% good × 3.04 allocation
- $5,800
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 40% good × 3.04 allocation
- $9,900
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 3.04 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $13,900
Paving: driveway & walks (paved)default
$9,200 new × 50% good × 3.04 allocation
- $13,400
Landscaping (typical)default
$8,800 new × 50% good × 3.04 allocation
- $2,900
Patiosdefault
$1,900 new × 50% good × 3.04 allocation
- $2,900
Decks & porches (attached)default
$1,900 new × 50% good × 3.04 allocation
- $7,600
Gazebo / pergolalisting
$5,000 new × 50% good × 3.04 allocation
- $258,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$212,800 new × 40% good × 3.04 allocation
- $26,800
Building plumbing & fixturesdefault
$22,000 new × 40% good × 3.04 allocation
- $26,900
Building electrical & lightingdefault
$22,100 new × 40% good × 3.04 allocation
- $26,800
HVACdefault
$22,100 new × 40% good × 3.04 allocation
- $15,300
Hardwood & tile floorsdefault
$12,600 new × 40% good × 3.04 allocation
- $3,200
Fireplacelisting
$2,600 new × 40% good × 3.04 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $75,200 | $40,900 | $1,100 | $117,200 |
| 2 | $0 | $0 | $9,200 | $9,200 |
| 3 | $0 | $0 | $9,200 | $9,200 |
| 4 | $0 | $0 | $9,200 | $9,200 |
| 5 | $0 | $0 | $9,200 | $9,200 |
| 6+ | $0 | $0 | $320,100 | $320,100 |
| Total | $75,200 | $40,900 | $357,900 | $474,000 |
The building's share of the price ($458,000) is 3.0x our depreciated replacement cost of the home ($151,000). 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: Georgia disallows 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.