625 Asbury Ln

Gatlinburg, TN 37738

$549,000

2 bd · 2.5 ba · 1,959 sqft · Listed 5d ago

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Year built

1953

Sqft

1,959

Lot sqft

3,920

HOA / mo

None

Furnished

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)

$22,140$29,567$39,602

Downtown, SkyBridge View, 2-Free Parking!
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $174Occ ≈ —4.9★ (148)
Airbnb Vrbo
SkyBridge Views/15 min to DT Gatlinburg/sleeps6
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $127Occ ≈ —4.8★ (225)
Airbnb
Snowbird Sanctuary Center of Gatlinburg
2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue —ADR $238Occ ≈ —4.2★ (7)
—
Downtown Cabin w/ Wraparound Deck & Fireplaces
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $163Occ ≈ —4.6★ (82)
Airbnb Vrbo
Midtown Bears Den: Downtown Gatlinburg Awaits
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $224Occ ≈ —4.8★ (17)
Airbnb Vrbo
Downtown Gatlinburg Condo – Walk to Attractions!
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $176Occ ≈ —4.7★ (96)
Airbnb Vrbo
Romantic Mountain Escape – Jacuzzi & Fireplaces
2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue —ADR $187Occ ≈ —4.8★ (113)
Airbnb Vrbo
Deer Field: Downtown Gatlinburg at Your Door
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $192Occ ≈ —4.9★ (18)
Airbnb Vrbo
Great condo walking distance to downtown Gatlinburg & Convention center
2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $194Occ ≈ —5★ (267)
Vrbo
Private Jacuzzi, 2BR/2BA 15min walking Downtown
2 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue —ADR $142Occ ≈ —4.8★ (362)
Airbnb Vrbo

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	Airbnb Vrbo
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	Airbnb Vrbo
Midtown Bears Den: Downtown Gatlinburg Awaits	2 bd · 2 ba · sleeps 6	—	$224	—	4.8★ (17)	0.2 mi	Airbnb Vrbo
Downtown Gatlinburg Condo – Walk to Attractions!	2 bd · 2 ba · sleeps 6	—	$176	—	4.7★ (96)	0.2 mi	Airbnb Vrbo
Romantic Mountain Escape – Jacuzzi & Fireplaces	2 bd · 2 ba · sleeps 4	—	$187	—	4.8★ (113)	0.2 mi	Airbnb Vrbo
Deer Field: Downtown Gatlinburg at Your Door	2 bd · 2 ba · sleeps 6	—	$192	—	4.9★ (18)	0.2 mi	Airbnb Vrbo
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	Airbnb Vrbo

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

Purchase priceAlready furnishedTax bracket

Est. revenue

$35,506

NOI

$17,009

Cash flow /mo

$1,417

Cash needed

$586,960

Cash-on-cash (all cash)

2.9%

ROE (yr 1)

5.7%

Cap rate

3.1%

DSCR

—

Year-1 write-off

$117,205

Year-1 tax shield @ 32%

$37,506

Year-1 return on equity

Cash flow (annual)$17,009
Principal paydown (n/a, cash)$0
Appreciation at%$16,470

ROE5.7%

ROE incl. year-1 tax savings (32% bracket, STR loophole)12.1%

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

Purchase price (all cash)$549,000
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.

5-year property$75,200

Kitchen cabinetsdefault
$10,100 new × 40% good × 3.04 allocation
$12,300
Kitchen countertopsdefault
$8,300 new × 40% good × 3.04 allocation
$10,000
Decorative trimdefault
$3,400 new × 40% good × 3.04 allocation
$4,200
Mirrorsdefault
$300 new × 40% good × 3.04 allocation
$400
Shelvingdefault
$900 new × 40% good × 3.04 allocation
$1,100
Window coverings (20)default
$5,000 new × 40% good × 3.04 allocation
$6,100
Kitchen & laundry equipment plumbingdefault
$7,900 new × 40% good × 3.04 allocation
$9,600
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 40% good × 3.04 allocation
$5,800
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 3.04 allocation
$9,900
Furniture bought newlisting
$16,000 new × 100% good · bought separately
$16,000

15-year land improvements$40,900

Paving: driveway & walks (paved)default
$9,200 new × 50% good × 3.04 allocation
$13,900
Landscaping (typical)default
$8,800 new × 50% good × 3.04 allocation
$13,400
Patiosdefault
$1,900 new × 50% good × 3.04 allocation
$2,900
Decks & porches (attached)default
$1,900 new × 50% good × 3.04 allocation
$2,900
Gazebo / pergolalisting
$5,000 new × 50% good × 3.04 allocation
$7,600

Building, 39-year$357,900

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$212,800 new × 40% good × 3.04 allocation
$258,900
Building plumbing & fixturesdefault
$22,000 new × 40% good × 3.04 allocation
$26,800
Building electrical & lightingdefault
$22,100 new × 40% good × 3.04 allocation
$26,900
HVACdefault
$22,100 new × 40% good × 3.04 allocation
$26,800
Hardwood & tile floorsdefault
$12,600 new × 40% good × 3.04 allocation
$15,300
Fireplacelisting
$2,600 new × 40% good × 3.04 allocation
$3,200

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

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.