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Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

2440 Levee Way

2440 Levee Way

Sevierville, TN 37876

$500,000

3 bd · 2 ba · 1,842 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceNegative cash flow

Year built

2007

Sqft

1,842

Lot sqft

366,775

HOA / mo

None

Furnished

No

List date

2026-10-06T22:51:26.000000Z

Revenue

Annual revenue

$35,612

ADR

$197

Occupancy

50%

Cleaning fees (12 mo)

$4,579

Confidence

Low (22.5), 8 comps

Comp revenue range (p25 / median / p75)

$9,341$34,598$52,301

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

Median revenue of shown comps: $34,598

  • 3 BR cabin w/boat ramp, fire pit, hot tub

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.4 mi

    Revenue $2,670ADR $296Occ ≈ 2%5★ (1)

    AirbnbBooking

  • Relax and Unwind at This Lake Front Cabin with a

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.4 mi

    Revenue $55,774ADR $542Occ ≈ 28%3.8★ (5)

    AirbnbVrbo

  • Lakefront w/private boat ramp/dock, hot tub, pool table, free attraction tickets

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.4 mi

    Revenue $49,059ADR $296Occ ≈ 45%—

    Vrbo

  • Lakefront Cabin・Boat Ramp/Dock・Hot Tub・Pool Table

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.4 mi

    Revenue $11,256ADR $171Occ ≈ 18%—

    AirbnbVrbo

  • Always Relaxing! CoffeeBar-GameRoom-SnackBar-Pool!

    House · 3 bd · 2.5 ba · sleeps 5 · 0.5 mi

    Revenue $20,136ADR $230Occ ≈ 24%5★ (4)

    AirbnbVrbo

  • Douglas Lakefront Cabin, Boat Ramp, Private Dock,

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.5 mi

    Revenue $3,595ADR $250Occ ≈ 4%—

    AirbnbVrboBooking

  • Gone Fishing-Stay 4+ Nights, Save 25% |Lake Escape

    House · 3 bd · 2 ba · sleeps 6 · 0.5 mi

    Revenue $51,143ADR $264Occ ≈ 53%5★ (83)

    AirbnbVrbo

  • Maples Lakefront Blessing

    Cabin · 3 bd · 2 ba · sleeps 8 · 0.7 mi

    Revenue $59,205ADR $320Occ ≈ 51%4.8★ (75)

    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

Financing
Management
Term

Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

Est. revenue

$35,612

NOI

$16,606

Cash flow /mo

-$1,376

Cash needed

$164,500

Cash-on-cash

-10.0%

ROE (yr 1)

1.0%

Cap rate

3.3%

DSCR

0.50

Year-1 write-off

$102,857

Year-1 tax shield @ 32%

$32,914

Year-1 return on equity

  • Cash flow (annual)-$16,508
  • Principal paydown$3,114
  • Appreciation at%$15,000
ROE1.0%

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)$7,122
  • Platform fees (3% of revenue)$1,068
  • Maintenance / capex (5% of revenue)$1,781
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,685
  • Insurance (STR-rated)$3,150

Cash needed to close

  • Down payment (25%)$125,000
  • Closing costs (4.0%)$20,000
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$32,914

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

$443,000

Short-life (5/15-yr)

$83,000 · 19%

Year-1 deduction

$103,000

Year-1 tax shield @ 32%

$33,000

Land 11% (county tax record, market value split) · building $360,000 over 39 years · new furniture $20,000

Based on: 1,842 sq ft, built 2007, 3 bd / 2 ba, unfurnished, listing features (deck, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $64,000 in year 1 (10% short-life, $21,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$62,600

  • Kitchen cabinetsdefault

    $9,800 new × 40% good × 1.99 allocation

    $7,800

  • Kitchen countertopsdefault

    $8,000 new × 40% good × 1.99 allocation

    $6,400

  • Decorative trimdefault

    $3,200 new × 40% good × 1.99 allocation

    $2,600

  • Mirrorsdefault

    $300 new × 40% good × 1.99 allocation

    $200

  • Shelvingdefault

    $1,200 new × 40% good × 1.99 allocation

    $1,000

  • Window coverings (18)default

    $4,500 new × 40% good × 1.99 allocation

    $3,600

  • Carpet, vinyl & laminate (33% of floors)listing

    $4,000 new × 40% good × 1.99 allocation

    $3,100

  • Kitchen & laundry equipment plumbingdefault

    $7,700 new × 62% good × 1.99 allocation

    $9,500

  • Kitchen, laundry & data equipment electricaldefault

    $4,600 new × 62% good × 1.99 allocation

    $5,700

  • Appliances (range, refrigerator)listing

    $4,000 new × 40% good × 1.99 allocation

    $3,200

  • Furniture bought newlisting

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

    $19,500
15-year land improvements$39,900

  • Paving: driveway & walks (paved)default

    $8,900 new × 50% good × 1.99 allocation

    $8,900

  • Landscaping (typical)default

    $8,600 new × 50% good × 1.99 allocation

    $8,500

  • Patiosdefault

    $1,800 new × 50% good × 1.99 allocation

    $1,800

  • Decks & porches (attached)listing

    $20,700 new × 50% good × 1.99 allocation

    $20,600
Building, 39-year$360,000

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

    $199,800 new × 68% good × 1.99 allocation

    $272,000

  • Building plumbing & fixturesdefault

    $20,700 new × 62% good × 1.99 allocation

    $25,600

  • Building electrical & lightingdefault

    $20,600 new × 62% good × 1.99 allocation

    $25,500

  • HVACdefault

    $20,800 new × 40% good × 1.99 allocation

    $16,500

  • Hardwood & tile floorsdefault

    $7,900 new × 40% good × 1.99 allocation

    $6,300

  • Fireplacelisting

    $2,600 new × 40% good × 1.99 allocation

    $2,100

  • Septic systemlisting

    $12,000 new × 50% good × 1.99 allocation

    $12,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$62,600$39,900$400$102,900
2$0$0$9,200$9,200
3$0$0$9,200$9,200
4$0$0$9,200$9,200
5$0$0$9,200$9,200
6+$0$0$322,700$322,700
Total$62,600$39,900$360,000$462,500

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: 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.