712 Nocks Dr
Gatlinburg, TN 37738
$899,000
2 bd · 2 ba · 1,382 sqft · Listed 4d ago
View on Realtor.com →Year built
2015
Sqft
1,382
Lot sqft
21,344
HOA / mo
None
Furnished
No
List date
2026-09-23T19:05:37Z
Revenue
Annual revenue
$65,360
ADR
$270
Occupancy
66%
Cleaning fees (12 mo)
$11,067
Confidence
Med (61.81), 50 comps
Comp revenue range (p25 / median / p75)
Bedroom Mountain Views! Near Downtown Gatlinburg!
2 bd · 2 ba · sleeps 6 · 0.1 mi
Revenue —ADR $275Occ ≈ —5★ (237)
Incredible views, 2 bedroom, 2 story log cabin
2 bd · 2 ba · sleeps 6 · 0.1 mi
Revenue —ADR $253Occ ≈ —5★ (493)
Pet friendly, hot tub, incredible Smoky views!
2 bd · 2 ba · sleeps 6 · 0.1 mi
Revenue —ADR $334Occ ≈ —4.7★ (11)
Semi secluded dog friendly 1BR with hot tub, mountain view, in Gatlinburg!
2 bd · 1 ba · sleeps 4 · 0.2 mi
Revenue —ADR $144Occ ≈ ——
—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Great Mountains View, Hot Tub, & Wooden Fireplace. | 2 bd · 2 ba · sleeps 6 | — | $321 | — | 4.7★ (227) | 249 ft | AirbnbVrbo |
Bedroom Mountain Views! Near Downtown Gatlinburg! | 2 bd · 2 ba · sleeps 6 | — | $275 | — | 5★ (237) | 0.1 mi | Airbnb |
Incredible views, 2 bedroom, 2 story log cabin | 2 bd · 2 ba · sleeps 6 | — | $253 | — | 5★ (493) | 0.1 mi | Airbnb |
Pet friendly, hot tub, incredible Smoky views! | 2 bd · 2 ba · sleeps 6 | — | $334 | — | 4.7★ (11) | 0.1 mi | Airbnb |
The Aerie | 2 bd · 2 ba · sleeps 8 | — | $307 | — | 4.7★ (55) | 0.2 mi | AirbnbVrbo |
An Eagles Call: Mount LeConte Views + Hot Tub | 2 bd · 2.5 ba · sleeps 8 | — | $387 | — | 4.2★ (21) | 0.2 mi | AirbnbVrbo |
Mountain Laurel Lookout by Bear Camp | 2 bd · 1 ba · sleeps 6 | — | $212 | — | 4.7★ (34) | 0.2 mi | AirbnbVrbo |
Semi secluded dog friendly 1BR with hot tub, mountain view, in Gatlinburg! | 2 bd · 1 ba · sleeps 4 | — | $144 | — | — | 0.2 mi | — |
Magic Forest - 3 Acres of privacy in Gatlinburg | 2 bd · 2 ba · sleeps 6 | — | $224 | — | 5★ (139) | 0.2 mi | AirbnbVrbo |
Mountain View Beauty by Beyond Expectations | 2 bd · 2 ba · sleeps 9 | — | $236 | — | 4.6★ (34) | 0.2 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
Est. revenue
$65,360
NOI
$35,363
Cash flow /mo
$2,947
Cash needed
$950,960
Cash-on-cash (all cash)
3.7%
ROE (yr 1)
6.6%
Cap rate
3.9%
DSCR
—
Year-1 write-off
$157,644
Year-1 tax shield @ 32%
$50,446
Year-1 return on equity
- Cash flow (annual)$35,363
- Principal paydown (n/a, cash)$0
- Appreciation at%$26,970
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$13,072
- Platform fees (3% of revenue)$1,961
- Maintenance / capex (5% of revenue)$3,268
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,102
- Insurance (STR-rated)$5,394
Cash needed to close
- Purchase price (all cash)$899,000
- Closing costs (4.0%)$35,960
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$50,446
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
$748,000
Short-life (5/15-yr)
$140,000 · 19%
Year-1 deduction
$158,000
Year-1 tax shield @ 32%
$50,000
Land 17% (county tax record, market value split) · building $608,000 over 39 years · new furniture $16,000
Based on: 1,382 sq ft, built 2015, 2 bd / 2 ba, unfurnished, listing features (fireplace, flooring types).
IRS-guide safe-harbor floor: $113,000 in year 1 (13% short-life, $36,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $18,900
Kitchen cabinetsdefault
$8,800 new × 56% good × 3.81 allocation
- $15,400
Kitchen countertopsdefault
$7,200 new × 56% good × 3.81 allocation
- $5,200
Decorative trimdefault
$2,400 new × 56% good × 3.81 allocation
- $500
Mirrorsdefault
$300 new × 40% good × 3.81 allocation
- $1,900
Shelvingdefault
$900 new × 56% good × 3.81 allocation
- $5,300
Window coverings (14)default
$3,500 new × 40% good × 3.81 allocation
- $20,400
Kitchen & laundry equipment plumbingdefault
$6,900 new × 78% good × 3.81 allocation
- $12,400
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 78% good × 3.81 allocation
- $12,400
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 3.81 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $16,500
Paving: driveway & walks (paved)default
$7,700 new × 56% good × 3.81 allocation
- $15,800
Landscaping (typical)default
$7,400 new × 56% good × 3.81 allocation
- $2,900
Patiosdefault
$1,400 new × 56% good × 3.81 allocation
- $2,600
Decks & porches (attached)default
$1,400 new × 50% good × 3.81 allocation
- $9,500
Gazebo / pergolalisting
$5,000 new × 50% good × 3.81 allocation
- $466,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$149,800 new × 82% good × 3.81 allocation
- $46,200
Building plumbing & fixturesdefault
$15,500 new × 78% good × 3.81 allocation
- $44,000
Building electrical & lightingdefault
$14,800 new × 78% good × 3.81 allocation
- $26,700
HVACdefault
$15,600 new × 45% good × 3.81 allocation
- $19,000
Hardwood & tile floorsdefault
$8,900 new × 56% good × 3.81 allocation
- $5,600
Fireplacelisting
$2,600 new × 56% good × 3.81 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $108,300 | $47,400 | $2,000 | $157,600 |
| 2 | $0 | $0 | $15,600 | $15,600 |
| 3 | $0 | $0 | $15,600 | $15,600 |
| 4 | $0 | $0 | $15,600 | $15,600 |
| 5 | $0 | $0 | $15,600 | $15,600 |
| 6+ | $0 | $0 | $543,900 | $543,900 |
| Total | $108,300 | $47,400 | $608,200 | $763,900 |
The building's share of the price ($748,000) is 3.8x our depreciated replacement cost of the home ($196,000). 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.