1533 Honey Bee Cove Way
Pigeon Forge, TN 37863
$400,000
3 bd · 2 ba · 1,568 sqft · Listed 1d ago
View on Realtor.com →Year built
1999
Sqft
1,568
Lot sqft
87,120
HOA / mo
$0
Furnished
Yes
List date
2026-09-26T15:57:42.000000Z
Revenue
Annual revenue
$57,881
ADR
$273
Occupancy
58%
Cleaning fees (12 mo)
$7,014
Confidence
Low (50.34), 8 comps
Comp revenue range (p25 / median / p75)
Eagles Loft by American Patriot Getaways
Vacation home · 3 bd · 2 ba · sleeps 8 · 0.6 mi
Revenue $59,651ADR $294Occ ≈ 56%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Rustic View Chalet | 3 bd · 2 ba · sleeps 6 | $41,305 | $180 | 63% | 4★ (2) | 0.3 mi | Booking |
Water's View Chalet | 3 bd · 2 ba · sleeps 6 | $61,401 | $260 | 65% | 4.7★ (6) | 0.3 mi | Booking |
Lazy Cub Lodge: HotTub-Games-Yard-Wooded View Cabin | 3 bd · 3 ba · sleeps 10 | $27,500 | $281 | 27% | 4★ (2) | 0.6 mi | AirbnbVrbo |
Eagles Loft by American Patriot Getaways Vacation home | 3 bd · 2 ba · sleeps 8 | $59,651 | $294 | 56% | — | 0.6 mi | Booking |
Lazy Cub Lodge | Fireplace, Pool Table, Hot Tub Cabin | 3 bd · 3 ba · sleeps 10 | $77,004 | $411 | 51% | 4.2★ (114) | 0.6 mi | AirbnbVrboBooking |
Mountain Retreat on 11 Acres! MIN to pkwy! Cabin | 3 bd · 2.5 ba · sleeps 10 | $40,811 | $330 | 34% | 5★ (98) | 0.6 mi | AirbnbVrbo |
Amazing Views/Private/Fire pit/Hot tub Cabin | 3 bd · 2 ba · sleeps 10 | $32,677 | $330 | 27% | 4.8★ (25) | 0.7 mi | AirbnbVrbo |
Stunning Luxury 3BD Lodge! …Hot Tub/Games/VIEWS! Cabin | 3 bd · 3 ba · sleeps 12 | $113,132 | $389 | 80% | 4.9★ (247) | 0.7 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
$57,881
NOI
$33,984
Cash flow /mo
$2,832
Cash needed
$416,000
Cash-on-cash (all cash)
8.2%
ROE (yr 1)
11.1%
Cap rate
8.5%
DSCR
—
Year-1 write-off
$82,863
Year-1 tax shield @ 32%
$26,516
Year-1 return on equity
- Cash flow (annual)$33,984
- Principal paydown (n/a, cash)$0
- Appreciation at%$12,000
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,576
- Platform fees (3% of revenue)$1,736
- Maintenance / capex (5% of revenue)$2,894
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,090
- Insurance (STR-rated)$2,400
Cash needed to close
- Purchase price (all cash)$400,000
- Closing costs (4.0%)$16,000
- Furnishing (conveyed with the sale)$0
Tax savings if the STR loophole applies
- Tax shield @ 32%$26,516
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
$311,000
Short-life (5/15-yr)
$82,000 · 26%
Year-1 deduction
$83,000
Year-1 tax shield @ 32%
$27,000
Land 23% (county tax record, market value split) · building $228,000 over 39 years
Based on: 1,568 sq ft, built 1999, 3 bd / 2 ba, furnished, listing features (hot tub, deck, fireplace, flooring types, appliance list, septic, wooded lot).
IRS-guide safe-harbor floor: $54,000 in year 1 (17% short-life, $17,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $6,800
Kitchen cabinetsdefault
$9,200 new × 40% good × 1.85 allocation
- $2,800
Kitchen countertopslisting
$3,800 new × 40% good × 1.85 allocation
- $2,000
Decorative trimdefault
$2,700 new × 40% good × 1.85 allocation
- $200
Mirrorsdefault
$300 new × 40% good × 1.85 allocation
- $900
Shelvingdefault
$1,200 new × 40% good × 1.85 allocation
- $3,000
Window coverings (16)default
$4,000 new × 40% good × 1.85 allocation
- $7,500
Carpet, vinyl & laminate (100% of floors)listing
$10,100 new × 40% good × 1.85 allocation
- $6,100
Kitchen & laundry equipment plumbingdefault
$7,200 new × 46% good × 1.85 allocation
- $3,700
Kitchen, laundry & data equipment electricaldefault
$4,300 new × 46% good × 1.85 allocation
- $5,700
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 1.85 allocation
- $6,700
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.85 allocation
- $7,800
Furniture conveyed with the sale (used)listing
$19,500 new × 40% good · out of the price
- $7,600
Paving: driveway & walks (paved)default
$8,200 new × 50% good × 1.85 allocation
- $3,700
Landscaping (minimal)listing
$3,900 new × 50% good × 1.85 allocation
- $1,400
Patiosdefault
$1,500 new × 50% good × 1.85 allocation
- $16,300
Decks & porches (attached)listing
$17,600 new × 50% good × 1.85 allocation
- $172,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$169,800 new × 55% good × 1.85 allocation
- $15,000
Building plumbing & fixturesdefault
$17,600 new × 46% good × 1.85 allocation
- $14,600
Building electrical & lightingdefault
$17,100 new × 46% good × 1.85 allocation
- $13,100
HVACdefault
$17,700 new × 40% good × 1.85 allocation
- $1,900
Fireplacelisting
$2,600 new × 40% good × 1.85 allocation
- $11,100
Septic systemlisting
$12,000 new × 50% good × 1.85 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $53,100 | $29,000 | $700 | $82,900 |
| 2 | $0 | $0 | $5,900 | $5,900 |
| 3 | $0 | $0 | $5,900 | $5,900 |
| 4 | $0 | $0 | $5,900 | $5,900 |
| 5 | $0 | $0 | $5,900 | $5,900 |
| 6+ | $0 | $0 | $204,200 | $204,200 |
| Total | $53,100 | $29,000 | $228,400 | $310,500 |
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.