531 Gatlin Dr
Gatlinburg, TN 37738
$935,000
5 bd · 3 ba · 2,808 sqft · Listed 5d ago
View on Realtor.com →Year built
2000
Sqft
2,808
Lot sqft
24,829
HOA / mo
None
Furnished
No
List date
2026-09-22T17:22:32Z
Revenue
Annual revenue
$78,517
ADR
$351
Occupancy
61%
Cleaning fees (12 mo)
$11,865
Confidence
Low (37.28), 20 comps
Comp revenue range (p25 / median / p75)
New to us! | Pool Table, Grassy Yard | Sleeps 14
5 bd · 3 ba · sleeps 14 · 0.3 mi
Revenue —ADR $328Occ ≈ ——
Cabin Close To Downtown Gatlinburg,National park!
5 bd · 3 ba · sleeps 14 · 0.4 mi
Revenue —ADR $526Occ ≈ —4.2★ (24)
Eagles Point Lodge
5 bd · 4 ba · sleeps 16 · 0.4 mi
Revenue —ADR $688Occ ≈ —4.4★ (6)
—
Cubs Crossing by American Patriot Getaways
5 bd · 3 ba · sleeps 10 · 0.4 mi
Revenue —ADR $300Occ ≈ ——
—
Closer to Home by Venture Smoky Mountains
5 bd · 4 ba · sleeps 14 · 0.4 mi
Revenue —ADR $415Occ ≈ —4.5★ (16)
—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
The Unforgettable Cabin | 5 bd · 3 ba · sleeps 10 | — | $428 | — | 5★ (120) | 13 ft | AirbnbVrbo |
New to us! | Pool Table, Grassy Yard | Sleeps 14 | 5 bd · 3 ba · sleeps 14 | — | $328 | — | — | 0.3 mi | Airbnb |
Cabin Close To Downtown Gatlinburg,National park! | 5 bd · 3 ba · sleeps 14 | — | $526 | — | 4.2★ (24) | 0.4 mi | Airbnb |
Eagles Point Lodge | 5 bd · 4 ba · sleeps 16 | — | $688 | — | 4.4★ (6) | 0.4 mi | — |
Hot Tub | Game Room | Sleeps 14 | Pet Friendly | 5 bd · 3 ba · sleeps 14 | — | $444 | — | 4.1★ (103) | 0.4 mi | AirbnbVrbo |
5BR w/deck & free attraction tickets, near dwtn | 5 bd · 3 ba · sleeps 12 | — | $493 | — | — | 0.4 mi | AirbnbVrbo |
Luxury Cabin: Mini-Golf-Firepit-Game Room | 5 bd · 3 ba · sleeps 12 | — | $472 | — | 5★ (130) | 0.4 mi | AirbnbVrbo |
Cubs Crossing by American Patriot Getaways | 5 bd · 3 ba · sleeps 10 | — | $300 | — | — | 0.4 mi | — |
Closer to Home by Venture Smoky Mountains | 5 bd · 4 ba · sleeps 14 | — | $415 | — | 4.5★ (16) | 0.4 mi | — |
5 STAR Wheelchair-friendly Smokies 6mn Gatlinburg | 5 bd · 3 ba · sleeps 12 | — | $450 | — | 5★ (45) | 0.5 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
$78,517
NOI
$43,547
Cash flow /mo
-$1,409
Cash needed
$297,650
Cash-on-cash
-5.7%
ROE (yr 1)
5.8%
Cap rate
4.7%
DSCR
0.72
Year-1 write-off
$189,931
Year-1 tax shield @ 32%
$60,778
Year-1 return on equity
- Cash flow (annual)-$16,913
- Principal paydown$6,119
- Appreciation at%$28,050
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$15,703
- Platform fees (3% of revenue)$2,356
- Maintenance / capex (5% of revenue)$3,926
- Utilities & supplies$4,200
- HOA$0
- Property tax$3,175
- Insurance (STR-rated)$5,610
Cash needed to close
- Down payment (25%)$233,750
- Closing costs (4.0%)$37,400
- Furnishing (bought new)$26,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$60,778
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
$836,000
Short-life (5/15-yr)
$161,000 · 19%
Year-1 deduction
$190,000
Year-1 tax shield @ 32%
$61,000
Land 11% (county tax record, market value split) · building $674,000 over 39 years · new furniture $27,000
Based on: 2,808 sq ft, built 2000, 5 bd / 3 ba, unfurnished, listing features (hot tub, deck, fireplace, flooring types, wooded lot).
IRS-guide safe-harbor floor: $108,000 in year 1 (9% short-life, $35,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $14,400
Kitchen cabinetsdefault
$12,000 new × 40% good × 3.00 allocation
- $11,800
Kitchen countertopsdefault
$9,800 new × 40% good × 3.00 allocation
- $5,900
Decorative trimdefault
$4,900 new × 40% good × 3.00 allocation
- $500
Mirrorsdefault
$500 new × 40% good × 3.00 allocation
- $2,200
Shelvingdefault
$1,800 new × 40% good × 3.00 allocation
- $8,400
Window coverings (28)default
$7,000 new × 40% good × 3.00 allocation
- $13,400
Kitchen & laundry equipment plumbingdefault
$9,300 new × 48% good × 3.00 allocation
- $8,100
Kitchen, laundry & data equipment electricaldefault
$5,600 new × 48% good × 3.00 allocation
- $9,700
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 3.00 allocation
- $10,800
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.00 allocation
- $26,500
Furniture bought newlisting
$26,500 new × 100% good · bought separately
- $16,500
Paving: driveway & walks (paved)default
$11,000 new × 50% good × 3.00 allocation
- $7,900
Landscaping (minimal)listing
$5,300 new × 50% good × 3.00 allocation
- $4,200
Patiosdefault
$2,800 new × 50% good × 3.00 allocation
- $47,500
Decks & porches (attached)listing
$31,600 new × 50% good × 3.00 allocation
- $518,500
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$304,600 new × 57% good × 3.00 allocation
- $45,600
Building plumbing & fixturesdefault
$31,700 new × 48% good × 3.00 allocation
- $47,400
Building electrical & lightingdefault
$32,900 new × 48% good × 3.00 allocation
- $38,000
HVACdefault
$31,600 new × 40% good × 3.00 allocation
- $21,700
Hardwood & tile floorsdefault
$18,100 new × 40% good × 3.00 allocation
- $3,200
Fireplacelisting
$2,600 new × 40% good × 3.00 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $111,700 | $76,100 | $2,200 | $189,900 |
| 2 | $0 | $0 | $17,300 | $17,300 |
| 3 | $0 | $0 | $17,300 | $17,300 |
| 4 | $0 | $0 | $17,300 | $17,300 |
| 5 | $0 | $0 | $17,300 | $17,300 |
| 6+ | $0 | $0 | $603,100 | $603,100 |
| Total | $111,700 | $76,100 | $674,400 | $862,200 |
The building's share of the price ($836,000) is 3.0x our depreciated replacement cost of the home ($278,000). 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.