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Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

3175 Emerald Springs Loop

3175 Emerald Springs Loop

Sevierville, TN 37862

$599,900

3 bd · 3 ba · 2,371 sqft · Listed 3d ago

View on Realtor.com →
Rental history

Year built

2002

Sqft

2,371

Lot sqft

47,916

HOA / mo

$71

Furnished

No

List date

2026-09-24T12:54:58Z

Revenue

Annual revenue

$74,675

ADR

$284

Occupancy

72%

Cleaning fees (12 mo)

$13,916

Confidence

Low (45.98), 49 comps

Comp revenue range (p25 / median / p75)

$35,742$58,665$92,392

  • Mtn cabin in Resort/Hottub/Seclu/Theater/pooltable

    3 bd · 3 ba · sleeps 8 · 43 ft

    Revenue —ADR $310Occ ≈ —4.8★ (197)

    AirbnbVrbo

  • Stunning View | Game Room Fun | Hot Tub & Fire Pit

    3 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue —ADR $334Occ ≈ —4.8★ (75)

    AirbnbVrbo

  • Cloudchaser Cabin, Private, New Cabin, 2 Kings, Cozy, Modern, Hot Tub, View, Theater

    3 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue —ADR $417Occ ≈ —5★ (3)

    —

  • Epic Views • Luxe Retreat • Hot Tub & Theater

    3 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue —ADR $326Occ ≈ —5★ (169)

    AirbnbVrbo

  • Smoky Mountain Escape: Theater Room, Hot Tub, Pool Table

    3 bd · 3 ba · sleeps 8 · 0.1 mi

    Revenue —ADR $308Occ ≈ —4.5★ (33)

    Vrbo

  • Mountain View Cabin Near Pigeon Forge & Gatlinburg

    3 bd · 3.5 ba · sleeps 10 · 0.1 mi

    Revenue —ADR $327Occ ≈ —4.5★ (4)

    AirbnbVrbo

  • New Cabin! 6 Mi. to PF/Hot tub/EV charger/Gm Rm.

    3 bd · 2.5 ba · sleeps 8 · 0.2 mi

    Revenue —ADR $373Occ ≈ —4.9★ (88)

    AirbnbVrbo

  • Mountaintop Cabin In Gated Resort Community

    3 bd · 3 ba · sleeps 12 · 0.2 mi

    Revenue —ADR $270Occ ≈ —4.8★ (198)

    AirbnbVrbo

  • 3BR Luxury Cabin W Hot Tub &breathtaking MTN Views

    3 bd · 2.5 ba · sleeps 6 · 0.2 mi

    Revenue —ADR $390Occ ≈ —5★ (14)

    AirbnbVrbo

  • Catch & Release; Fishing Pond, Creek, FIOS Wifi Internet, Secluded

    3 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue —ADR $216Occ ≈ —4.9★ (285)

    Vrbo

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
Term

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$74,675

NOI

$43,202

Cash flow /mo

$367

Cash needed

$199,471

Cash-on-cash

2.2%

ROE (yr 1)

13.2%

Cap rate

7.2%

DSCR

1.11

Year-1 write-off

$145,549

Year-1 tax shield @ 32%

$46,576

Year-1 return on equity

  • Cash flow (annual)$4,410
  • Principal paydown$3,926
  • Appreciation at%$17,997
ROE13.2%
ROE incl. year-1 tax savings (32% bracket, STR loophole)36.6%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$14,935
  • Platform fees (3% of revenue)$2,240
  • Maintenance / capex (5% of revenue)$3,734
  • Utilities & supplies$4,200
  • HOA$852
  • Property tax$1,913
  • Insurance (STR-rated)$3,599

Cash needed to close

  • Down payment (25%)$149,975
  • Closing costs (4.0%)$23,996
  • Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$46,576

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

$586,000

Short-life (5/15-yr)

$119,000 · 20%

Year-1 deduction

$146,000

Year-1 tax shield @ 32%

$47,000

Land 2% (county tax record, market value split) · building $467,000 over 39 years · new furniture $26,000

Based on: 2,371 sq ft, built 2002, 3 bd / 3 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $91,000 in year 1 (11% short-life, $29,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$93,500

  • Kitchen cabinetsdefault

    $11,000 new × 40% good × 2.30 allocation

    $10,100

  • Kitchen countertopsdefault

    $9,000 new × 40% good × 2.30 allocation

    $8,300

  • Decorative trimdefault

    $4,100 new × 40% good × 2.30 allocation

    $3,800

  • Mirrorsdefault

    $500 new × 40% good × 2.30 allocation

    $400

  • Shelvingdefault

    $1,200 new × 40% good × 2.30 allocation

    $1,100

  • Window coverings (24)default

    $6,000 new × 40% good × 2.30 allocation

    $5,500

  • Carpet, vinyl & laminate (50% of floors)listing

    $7,600 new × 40% good × 2.30 allocation

    $7,000

  • Kitchen & laundry equipment plumbingdefault

    $8,600 new × 52% good × 2.30 allocation

    $10,200

  • Kitchen, laundry & data equipment electricaldefault

    $5,200 new × 52% good × 2.30 allocation

    $6,200

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

    $7,700 new × 40% good × 2.30 allocation

    $7,100

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.30 allocation

    $8,300

  • 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$50,500

  • Paving: driveway & walks (paved)default

    $10,100 new × 50% good × 2.30 allocation

    $11,600

  • Landscaping (minimal)listing

    $4,900 new × 50% good × 2.30 allocation

    $5,600

  • Patiosdefault

    $2,300 new × 50% good × 2.30 allocation

    $2,700

  • Decks & porches (attached)listing

    $26,700 new × 50% good × 2.30 allocation

    $30,700
Building, 39-year$467,400

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

    $257,400 new × 60% good × 2.30 allocation

    $355,000

  • Building plumbing & fixturesdefault

    $26,700 new × 52% good × 2.30 allocation

    $31,900

  • Building electrical & lightingdefault

    $27,300 new × 52% good × 2.30 allocation

    $32,700

  • HVACdefault

    $26,700 new × 40% good × 2.30 allocation

    $24,600

  • Hardwood & tile floorsdefault

    $7,600 new × 40% good × 2.30 allocation

    $7,000

  • Fireplacelisting

    $2,600 new × 40% good × 2.30 allocation

    $2,400

  • Septic systemlisting

    $12,000 new × 50% good × 2.30 allocation

    $13,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$93,500$50,500$1,500$145,500
2$0$0$12,000$12,000
3$0$0$12,000$12,000
4$0$0$12,000$12,000
5$0$0$12,000$12,000
6+$0$0$418,000$418,000
Total$93,500$50,500$467,400$611,500

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.