STR Yield
← Back to deals
MortgageCash

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

2212 Legend Dr

2212 Legend Dr

Sevierville, TN 37876

$1,150,000

3 bd · 4.5 ba · 3,150 sqft · Listed today

View on Realtor.com →
Low confidenceEst. land %Negative cash flow

Year built

2026

Sqft

3,150

Lot sqft

29,621

HOA / mo

$0

Furnished

No

List date

2026-11-13T04:07:19.000000Z

Revenue

Annual revenue

$58,725

ADR

$225

Occupancy

72%

Cleaning fees (12 mo)

$13,289

Confidence

Med (52.37), 7 comps

Comp revenue range (p25 / median / p75)

$47,408$66,572$80,399

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

Median revenue of shown comps: $66,572

  • Storyteller - 3 Bed 3.5 Bath cabin near Gatlinburg

    Cabin · 3 bd · 3.5 ba · sleeps 10 · 0.2 mi

    Revenue $80,526ADR $325Occ ≈ 68%4.8★ (104)

    Airbnb

  • For His Names Sake Cabin

    Vacation home · 3 bd · 4 ba · sleeps 11 · 0.2 mi

    Revenue $29,470ADR $310Occ ≈ 26%5★ (1)

    Booking

  • Smoky Mountain View Hot Tub Pigeon Forge Dollywood

    Cabin · 3 bd · 3.5 ba · sleeps 8 · 0.3 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $80,271ADR $257Occ ≈ 86%4.8★ (241)

    AirbnbVrboBooking

  • Storyteller - 3 Bed 3.5 Bath cabin near Gatlinburg

    Vacation home · 3 bd · 4 ba · sleeps 6 · 0.3 mi

    Revenue $11,857ADR $178Occ ≈ 18%—

    Booking

  • Ravens Roost- Sevierville, TN!

    Cabin · 3 bd · 3.5 ba · sleeps 6 · 0.3 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +5

    Revenue $66,572ADR $258Occ ≈ 71%5★ (70)

    AirbnbVrbo

  • Accessible Privacy And Luxury - Still Away Lodge

    Cabin · 3 bd · 3.5 ba · sleeps 14 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $65,346ADR $354Occ ≈ 51%5★ (8)

    AirbnbVrbo

  • Luxury Mountain Cabin | Hot Tub, Theater Game Room

    Cabin · 3 bd · 3.5 ba · sleeps 12 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $88,307ADR $347Occ ≈ 70%4.8★ (115)

    AirbnbVrboBooking

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

$58,725

NOI

$31,074

Cash flow /mo

-$3,655

Cash needed

$359,000

Cash-on-cash

-12.2%

ROE (yr 1)

-0.5%

Cap rate

2.7%

DSCR

0.41

Year-1 write-off

$267,746

Year-1 tax shield @ 32%

$85,679

Year-1 return on equity

  • Cash flow (annual)-$43,863
  • Principal paydown$7,408
  • Appreciation at%$34,500
ROE-0.5%

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)$11,745
  • Platform fees (3% of revenue)$1,762
  • Maintenance / capex (5% of revenue)$2,936
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$108
  • Insurance (STR-rated)$6,900

Cash needed to close

  • Down payment (25%)$287,500
  • Closing costs (4.0%)$46,000
  • Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$85,679

No county tax record split for property tax, insurance rate and the land/building split, so those use market defaults — edit the price above; 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

$978,000

Short-life (5/15-yr)

$241,000 · 25%

Year-1 deduction

$268,000

Year-1 tax shield @ 32%

$86,000

Land 15% (market default, no usable tax-record split) · building $736,000 over 39 years · new furniture $26,000

Based on: 3,150 sq ft, built 2026, 3 bd / 4.5 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $164,000 in year 1 (14% short-life, $52,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$169,900

  • Kitchen cabinetsdefault

    $12,700 new × 100% good × 1.58 allocation

    $20,100

  • Kitchen countertopsdefault

    $10,400 new × 100% good × 1.58 allocation

    $16,400

  • Decorative trimdefault

    $5,500 new × 100% good × 1.58 allocation

    $8,700

  • Mirrorsdefault

    $600 new × 100% good × 1.58 allocation

    $900

  • Shelvingdefault

    $1,200 new × 100% good × 1.58 allocation

    $1,900

  • Window coverings (32)default

    $8,000 new × 100% good × 1.58 allocation

    $12,700

  • Carpet, vinyl & laminate (100% of floors)listing

    $20,300 new × 100% good × 1.58 allocation

    $32,100

  • Kitchen & laundry equipment plumbingdefault

    $9,900 new × 100% good × 1.58 allocation

    $15,600

  • Kitchen, laundry & data equipment electricaldefault

    $6,000 new × 100% good × 1.58 allocation

    $9,500

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

    $7,700 new × 100% good × 1.58 allocation

    $12,200

  • Hot tub (freestanding)listing

    $9,000 new × 100% good × 1.58 allocation

    $14,200

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500

  • Game-room equipment bought newlisting

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

    $6,000
15-year land improvements$97,100

  • Paving: driveway & walks (paved)default

    $11,600 new × 100% good × 1.58 allocation

    $18,400

  • Landscaping (typical)default

    $11,200 new × 100% good × 1.58 allocation

    $17,700

  • Patiosdefault

    $3,100 new × 100% good × 1.58 allocation

    $4,900

  • Decks & porches (attached)listing

    $35,400 new × 100% good × 1.58 allocation

    $56,100
Building, 39-year$736,000

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

    $342,400 new × 100% good × 1.58 allocation

    $541,700

  • Building plumbing & fixturesdefault

    $35,500 new × 100% good × 1.58 allocation

    $56,200

  • Building electrical & lightingdefault

    $37,200 new × 100% good × 1.58 allocation

    $58,900

  • HVACdefault

    $35,500 new × 100% good × 1.58 allocation

    $56,100

  • Fireplacelisting

    $2,600 new × 100% good × 1.58 allocation

    $4,200

  • Septic systemlisting

    $12,000 new × 100% good × 1.58 allocation

    $19,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$169,900$97,100$800$267,700
2$0$0$18,900$18,900
3$0$0$18,900$18,900
4$0$0$18,900$18,900
5$0$0$18,900$18,900
6+$0$0$659,800$659,800
Total$169,900$97,100$736,000$1,003,000

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.