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Rate 7.86% = 7.11% Freddie Mac 30-yr avg (Nov 12) + 0.75% investor premium

322 Brown Wren Way

322 Brown Wren Way

Gatlinburg, TN 37738

$895,500

6 bd · 5 ba · 2,957 sqft · Listed today

View on Realtor.com →

Year built

1998

Sqft

2,957

Lot sqft

436

HOA / mo

$92

Furnished

No

List date

2026-11-13T01:09:39.000000Z

Revenue

Annual revenue

$117,960

ADR

$412

Occupancy

78%

Cleaning fees (12 mo)

$17,773

Confidence

Med (64.88), 14 comps

Comp revenue range (p25 / median / p75)

$75,542$106,211$128,818

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

Median revenue of shown comps: $106,211

  • Serenity - Family Getaway with 6BR/5BA + Hot Tub

    Cabin · 6 bd · 5.5 ba · sleeps 12 · 472 ft

    Revenue $44,831ADR $483Occ ≈ 25%4.7★ (3)

    AirbnbVrbo

  • Family + Group Getaway Lodge 6 BR, 5 BA, Hot Tub

    Cabin · 6 bd · 5 ba · sleeps 12 · 489 ft

    Revenue $104,360ADR $399Occ ≈ 72%4.2★ (126)

    AirbnbVrbo

  • Luxe 6BR Mini-Golf, Hot Tub, Game Room & Theater

    Cabin · 6 bd · 4.5 ba · sleeps 12 · 0.4 mi

    Revenue $164,265ADR $565Occ ≈ 80%5★ (45)

    AirbnbVrbo

  • Fresh, Modern Luxury Chalet with Indoor Pool, Theater and Hot Tub – Sleeps 16

    Vacation home · 6 bd · 6 ba · sleeps 16 · 0.5 mi

    Revenue $128,384ADR $632Occ ≈ 56%—

    Booking

  • Head Over Hills by Eden Crest

    Chalet · 6 bd · 6 ba · sleeps 12 · 0.5 mi

    Revenue $113,754ADR $1,066Occ ≈ 29%4.5★ (3)

    Booking

  • Aqua Paradise – Luxury 6BR Chalet , Indoor Pool, Theater Room and Game Room

    Vacation home · 6 bd · 6 ba · sleeps 16 · 0.5 mi

    Revenue $128,962ADR $609Occ ≈ 58%—

    Booking

  • Swimmin' in the Smokies, Luxurious 6BR Chalet with Indoor Pool, Theater and games

    Vacation home · 6 bd · 6 ba · sleeps 16 · 0.5 mi

    Revenue $108,062ADR $531Occ ≈ 56%—

    Booking

  • A Majestic Hilltop – 6 Bedroom ,Indoor Pool, Theater and Stunning Mount Views

    Vacation home · 6 bd · 6 ba · sleeps 16 · 0.5 mi

    Revenue $155,258ADR $617Occ ≈ 69%—

    Booking

  • A Splash of Blue – 6-BR with Indoor Pool, Theater, Pool Table and more!!

    Vacation home · 6 bd · 6 ba · sleeps 18 · 0.5 mi

    Revenue $141,070ADR $640Occ ≈ 60%—

    Booking

  • Firefly Nights chalet

    Vacation home · 6 bd · 6 ba · sleeps 12 · 0.5 mi

    Revenue $95,144ADR $711Occ ≈ 37%—

    Booking

Show 4 more

  • Head Over Hills

    Chalet · 6 bd · 5 ba · sleeps 12 · 0.5 mi

    Revenue $61,823ADR $498Occ ≈ 34%—

    Booking

  • Break Time by Eden Crest

    Chalet · 6 bd · 6 ba · sleeps 12 · 0.6 mi

    Revenue $69,008ADR $336Occ ≈ 56%4.9★ (8)

    Booking

  • Firefly Nights

    Chalet · 6 bd · 5 ba · sleeps 12 · 0.6 mi

    Revenue $58,064ADR $527Occ ≈ 30%—

    Booking

  • Firefly Nights by Eden Crest

    Chalet · 6 bd · 6 ba · sleeps 12 · 0.6 mi

    Revenue $97,399ADR $778Occ ≈ 34%4★ (3)

    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
Term

Rate 7.86% = 7.11% Freddie Mac 30-yr avg (Nov 12) + 0.75% investor premium

Est. revenue

$117,960

NOI

$70,813

Cash flow /mo

$1,038

Cash needed

$295,695

Cash-on-cash

4.2%

ROE (yr 1)

15.2%

Cap rate

7.9%

DSCR

1.21

Year-1 write-off

$191,342

Year-1 tax shield @ 32%

$61,229

Year-1 return on equity

  • Cash flow (annual)$12,460
  • Principal paydown$5,768
  • Appreciation at%$26,865
ROE15.2%

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)$23,592
  • Platform fees (3% of revenue)$3,539
  • Maintenance / capex (5% of revenue)$5,898
  • Utilities & supplies$4,200
  • HOA$1,104
  • Property tax$3,441
  • Insurance (STR-rated)$5,373

Cash needed to close

  • Down payment (25%)$223,875
  • Closing costs (4.0%)$35,820
  • Furnishing (bought new)$36,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$61,229

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

$782,000

Short-life (5/15-yr)

$155,000 · 20%

Year-1 deduction

$191,000

Year-1 tax shield @ 32%

$61,000

Land 13% (county tax record, market value split) · building $627,000 over 39 years · new furniture $36,000

Based on: 2,957 sq ft, built 1998, 6 bd / 5 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, wooded lot).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $111,000 in year 1 (9% short-life, $35,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$116,500

  • Kitchen cabinetsdefault

    $12,300 new × 40% good × 2.80 allocation

    $13,800

  • Kitchen countertopsdefault

    $10,000 new × 40% good × 2.80 allocation

    $11,300

  • Decorative trimdefault

    $5,200 new × 40% good × 2.80 allocation

    $5,800

  • Mirrorsdefault

    $800 new × 40% good × 2.80 allocation

    $800

  • Shelvingdefault

    $2,100 new × 40% good × 2.80 allocation

    $2,400

  • Window coverings (30)default

    $7,500 new × 40% good × 2.80 allocation

    $8,400

  • Kitchen & laundry equipment plumbingdefault

    $9,600 new × 44% good × 2.80 allocation

    $11,800

  • Kitchen, laundry & data equipment electricaldefault

    $5,800 new × 44% good × 2.80 allocation

    $7,100

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

    $8,100 new × 40% good × 2.80 allocation

    $9,100

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.80 allocation

    $10,100

  • Furniture bought newlisting

    $30,000 new × 100% good · bought separately

    $30,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$74,100

  • Paving: driveway & walks (paved)default

    $11,300 new × 50% good × 2.80 allocation

    $15,800

  • Landscaping (minimal)listing

    $5,400 new × 50% good × 2.80 allocation

    $7,600

  • Patiosdefault

    $2,900 new × 50% good × 2.80 allocation

    $4,100

  • Decks & porches (attached)listing

    $33,300 new × 50% good × 2.80 allocation

    $46,600
Building, 39-year$627,500

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

    $320,200 new × 53% good × 2.80 allocation

    $478,800

  • Building plumbing & fixturesdefault

    $33,300 new × 44% good × 2.80 allocation

    $41,100

  • Building electrical & lightingdefault

    $34,800 new × 44% good × 2.80 allocation

    $42,900

  • HVACdefault

    $33,300 new × 40% good × 2.80 allocation

    $37,400

  • Hardwood & tile floorsdefault

    $19,000 new × 40% good × 2.80 allocation

    $21,300

  • Fireplaces (2)listing

    $5,300 new × 40% good × 2.80 allocation

    $5,900

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$116,500$74,100$700$191,300
2$0$0$16,100$16,100
3$0$0$16,100$16,100
4$0$0$16,100$16,100
5$0$0$16,100$16,100
6+$0$0$562,400$562,400
Total$116,500$74,100$627,500$818,100

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.