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Rate 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium

104 King St

104 King St

Sevierville, TN 37862

$319,900

3 bd · 2 ba · 1,231 sqft · Listed 2d ago

View on Realtor.com →

Year built

1970

Sqft

1,231

Lot sqft

10,890

HOA / mo

None

Furnished

No

List date

2026-11-10T18:40:22.000000Z

Revenue

Annual revenue

$46,687

ADR

$213

Occupancy

60%

Cleaning fees (12 mo)

$7,319

Confidence

Low (43.6), 19 comps

Comp revenue range (p25 / median / p75)

$22,478$37,887$58,279

Median revenue of shown comps: $46,416

  • Daisy's River Log Home w/ Hot tub & Kayaks

    House · 3 bd · 1 ba · sleeps 7 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $55,120ADR $216Occ ≈ 70%4.7★ (162)

    AirbnbVrbo

  • A Dream Come True cabin

    Vacation home · 3 bd · 2 ba · sleeps 7 · 0.4 mi

    Revenue $56,346ADR $329Occ ≈ 47%5★ (1)

    Booking

  • Pet friendly, king bedrooms, smart TVs, pool table, theater room, and hot tub!

    Chalet · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $31,736ADR $181Occ ≈ 48%4.5★ (3)

    Booking

  • Lullaby Falls- Hot Tub, WIFI, Near 75 ft Waterfall, Free Attraction Tickets!!!

    Chalet · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $64,078ADR $232Occ ≈ 76%—

    Booking

  • Awesome Honey Bear

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.4 mi

    Revenue $64,457ADR $254Occ ≈ 70%3.9★ (21)

    Booking

  • Sevierville Group-Friendly Condos

    Apartment · 3 bd · 3 ba · sleeps 6 · 0.5 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +1

    Revenue $78,907ADR $291Occ ≈ 74%5★ (10)

    AirbnbVrbo

  • Cedars Peak Downtown 2 Condos

    Apartment · 3 bd · 3 ba · sleeps 6 · 0.5 mi

    Revenue $77,074ADR $306Occ ≈ 69%—

    Booking

  • Sundance Retreat - Pet Friendly Mountaintop Cabin

    House · 3 bd · 3 ba · sleeps 10 · 0.5 mi

    • Hot tub
    • A/C
    • Pets OK
    • Wifi
    • +5

    Revenue $36,401ADR $266Occ ≈ 37%—

    Vrbo

  • Noir Manor

    House · 3 bd · 2 ba · sleeps 7 · 0.7 mi

    Revenue $4,564ADR $214Occ ≈ 6%3★ (1)

    Airbnb

  • 3BR w/Hot Tub*Firepit*Fireplace*Great Location!

    House · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    Revenue $39,373ADR $173Occ ≈ 62%5★ (9)

    Airbnb

Show 5 more

  • Accessible Ranch Retreat | Pets Welcomed | Hot Tub

    House · 3 bd · 2 ba · sleeps 7 · 0.7 mi

    Revenue $3,838ADR $480Occ ≈ 2%4.7★ (7)

    Delisted

  • Noir Manor:All Reasonable Offers Considered

    House · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    Revenue $46,416ADR $227Occ ≈ 56%4.7★ (11)

    Booking

  • Noir Manor

    House · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $75,635ADR $258Occ ≈ 80%2★ (1)

    AirbnbVrboBooking

  • Westover Park Condo 101 - A Quiet Getaway Near the Great Smoky Mountains

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.7 mi

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $18,410ADR $182Occ ≈ 28%4.7★ (127)

    Vrbo

  • Victorian Grace ...with modern amenities

    House · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    Revenue $15,298ADR $117Occ ≈ 36%4.8★ (6)

    Airbnb

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 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium

Est. revenue

$46,687

NOI

$27,128

Cash flow /mo

$512

Cash needed

$112,271

Cash-on-cash

5.5%

ROE (yr 1)

15.8%

Cap rate

8.5%

DSCR

1.29

Year-1 write-off

$87,074

Year-1 tax shield @ 32%

$27,864

Year-1 return on equity

  • Cash flow (annual)$6,143
  • Principal paydown$2,032
  • Appreciation at%$9,597
ROE15.8%

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)$9,337
  • Platform fees (3% of revenue)$1,401
  • Maintenance / capex (5% of revenue)$2,334
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$367
  • Insurance (STR-rated)$1,919

Cash needed to close

  • Down payment (25%)$79,975
  • Closing costs (4.0%)$12,796
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$27,864

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

$253,000

Short-life (5/15-yr)

$67,000 · 27%

Year-1 deduction

$87,000

Year-1 tax shield @ 32%

$28,000

Land 21% (county tax record, market value split) · building $186,000 over 39 years · new furniture $20,000

Based on: 1,231 sq ft, built 1970, 3 bd / 2 ba, unfurnished, listing features (stone counters, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $64,000 in year 1 (17% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$65,100

  • Kitchen cabinetsdefault

    $8,500 new × 40% good × 2.61 allocation

    $8,900

  • Kitchen countertops (stone)listing

    $8,700 new × 40% good × 2.61 allocation

    $9,100

  • Decorative trimdefault

    $2,200 new × 40% good × 2.61 allocation

    $2,200

  • Mirrorsdefault

    $300 new × 40% good × 2.61 allocation

    $300

  • Shelvingdefault

    $1,200 new × 40% good × 2.61 allocation

    $1,300

  • Window coverings (12)default

    $3,000 new × 40% good × 2.61 allocation

    $3,100

  • Carpet, vinyl & laminate (40% of floors)default

    $3,200 new × 40% good × 2.61 allocation

    $3,300

  • Kitchen & laundry equipment plumbingdefault

    $6,600 new × 40% good × 2.61 allocation

    $6,900

  • Kitchen, laundry & data equipment electricaldefault

    $4,000 new × 40% good × 2.61 allocation

    $4,200

  • Appliances (range, microwave, dishwasher, disposal, refrigerator)listing

    $6,100 new × 40% good × 2.61 allocation

    $6,400

  • Furniture bought newlisting

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

    $19,500
15-year land improvements$21,800

  • Paving: driveway & walks (paved)default

    $7,300 new × 50% good × 2.61 allocation

    $9,500

  • Landscaping (typical)default

    $7,000 new × 50% good × 2.61 allocation

    $9,100

  • Patiosdefault

    $1,200 new × 50% good × 2.61 allocation

    $1,600

  • Decks & porches (attached)default

    $1,200 new × 50% good × 2.61 allocation

    $1,600
Building, 39-year$186,000

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

    $133,000 new × 40% good × 2.61 allocation

    $138,700

  • Building plumbing & fixturesdefault

    $13,800 new × 40% good × 2.61 allocation

    $14,400

  • Building electrical & lightingdefault

    $12,900 new × 40% good × 2.61 allocation

    $13,400

  • HVACdefault

    $13,900 new × 40% good × 2.61 allocation

    $14,500

  • Hardwood & tile floorsdefault

    $4,800 new × 40% good × 2.61 allocation

    $5,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$65,100$21,800$200$87,100
2$0$0$4,800$4,800
3$0$0$4,800$4,800
4$0$0$4,800$4,800
5$0$0$4,800$4,800
6+$0$0$166,700$166,700
Total$65,100$21,800$186,000$272,800

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.