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2723 Madison Rdg

2723 Madison Rdg

Sevierville, TN 37876

$589,250

3 bd · 2 ba · 2,473 sqft · Listed 49d ago

View on Realtor.com →

Year built

2002

Sqft

2,473

Lot sqft

23,522

HOA / mo

$0

Furnished

No

List date

2026-09-24T18:00:52.000000Z

Revenue

Annual revenue

$39,468

ADR

$220

Occupancy

49%

Cleaning fees (12 mo)

$8,390

Confidence

Low (50.32), 30 comps

Comp revenue range (p25 / median / p75)

$20,292$33,421$44,257

Median revenue of shown comps: $33,116

  • So Much Fun Your Head Will Spin!

    House · 3 bd · 2 ba · sleeps 6 · 1.4 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $33,726ADR $221Occ ≈ 42%4.8★ (42)

    AirbnbVrbo

  • Peaceful Sevierville Home w/ Private Hot Tub!

    House · 3 bd · 3 ba · sleeps 8 · 1.4 mi

    • Hot tub
    • A/C
    • Wifi
    • Kitchen
    • +3

    Revenue $35,212ADR $223Occ ≈ 43%4.4★ (80)

    AirbnbVrboBooking

  • Sunny beautiful 3 BR house mountain view

    House · 3 bd · 3 ba · sleeps 6 · 1.6 mi

    Revenue $19,996ADR $187Occ ≈ 29%5★ (11)

    Delisted

  • Woodland Chalet - Hike Trails on 6 Private Acres

    Cabin · 3 bd · 2 ba · sleeps 6 · 1.6 mi

    Revenue $43,430ADR $201Occ ≈ 59%3.9★ (66)

    AirbnbBooking

  • Unique Cabin・Mountain View・Hot Tub・Grill・Game Room

    Cabin · 3 bd · 2 ba · sleeps 6 · 1.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $19,047ADR $218Occ ≈ 24%4.2★ (11)

    AirbnbVrboBooking

  • Unique cabin with amazing mountain views, pond access, wifi, & close to shopping

    Cabin · 3 bd · 2 ba · sleeps 6 · 1.7 mi

    Revenue $36,324ADR $230Occ ≈ 43%—

    Delisted

  • New listing!-Entire Home, Dog Friendly, Hot Tub

    House · 3 bd · 2 ba · sleeps 6 · 1.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $28,160ADR $182Occ ≈ 42%4.8★ (20)

    AirbnbVrbo

  • Game Room | Hot tub | Fire pit | Dog friendly

    House · 3 bd · 2 ba · sleeps 6 · 1.8 mi

    Revenue $9,427ADR $320Occ ≈ 8%5★ (52)

    Airbnb

  • Country Cabin, Fully fenced area for pets

    Cabin · 3 bd · 2 ba · sleeps 9 · 1.8 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +3

    Revenue $44,533ADR $260Occ ≈ 47%4.6★ (58)

    AirbnbVrboBooking

  • Private Hot Tub: Serene Family Home in Sevierville

    House · 3 bd · 2.5 ba · sleeps 6 · 1.9 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $17,667ADR $270Occ ≈ 18%4.7★ (16)

    AirbnbVrboBooking

Show 17 more

  • New-Mtn Views-Indoor Pool-Hot Tub-Game Room-Wifi

    Cabin · 3 bd · 3 ba · sleeps 10 · 2.1 mi

    Revenue $18,461ADR $321Occ ≈ 16%4.8★ (41)

    Delisted

  • On Top of Ole Smoky!

    Vacation home · 3 bd · 2 ba · sleeps 8 · 2.2 mi

    Revenue $18,145ADR $367Occ ≈ 14%—

    Booking

  • Experience UNIQUE views of LeConte, Bluff Mountain, and English Mountain!

    Cabin · 3 bd · 2 ba · sleeps 8 · 2.2 mi

    Revenue $10,344ADR $252Occ ≈ 11%—

    Delisted

  • Eagles Roost

    Vacation home · 3 bd · 2 ba · sleeps 6 · 2.2 mi

    Revenue $12,807ADR $302Occ ≈ 12%—

    Booking

  • Green Sky Lodge by Avada Properties

    Vacation home · 3 bd · 3 ba · sleeps 6 · 2.2 mi

    Revenue $33,116ADR $188Occ ≈ 48%—

    Booking

  • Green Sky Lodge: Views, Hot Tub, Play Area & More!

    Cabin · 3 bd · 3 ba · sleeps 8 · 2.2 mi

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

    Revenue $21,179ADR $248Occ ≈ 23%4.9★ (12)

    AirbnbVrboBooking

  • EaglesLair-MtnViews -IndoorPool-HotTub-GameRm-WiFi

    Cabin · 3 bd · 3 ba · sleeps 10 · 2.2 mi

    Revenue $26,561ADR $344Occ ≈ 21%5★ (1)

    Airbnb

  • New-Mtn Views-Hot Tub-Plunge pool-Game Room-WiFi

    House · 3 bd · 3 ba · sleeps 10 · 2.2 mi

    Revenue $28,734ADR $236Occ ≈ 33%4.5★ (6)

    Booking

  • Smoky Mtn Cabin*Hot Tub/Pool Table/Arcade Game

    Cabin · 3 bd · 2 ba · sleeps 8 · 2.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $49,308ADR $244Occ ≈ 55%5★ (147)

    AirbnbVrbo

  • Hot Tub, Arcades, LaserTag, Indoor Pool, Mtn Views

    Cabin · 3 bd · 3 ba · sleeps 8 · 2.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +7

    Revenue $86,947ADR $344Occ ≈ 69%4.9★ (136)

    AirbnbVrboBooking

  • Mountain views on large deck, Game room, Sleeps 8

    Cabin · 3 bd · 2 ba · sleeps 8 · 2.2 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +5

    Revenue $36,027ADR $276Occ ≈ 36%5★ (65)

    AirbnbVrbo

  • NEW Cabin - Hot Tub, Movie Theater, Arcade Games!

    Cabin · 3 bd · 3 ba · sleeps 8 · 2.2 mi

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

    Revenue $60,753ADR $287Occ ≈ 58%5★ (131)

    AirbnbVrbo

  • Luxury Cabin w/ Hot Tub, Indoor Pool & Game Room

    Cabin · 3 bd · 3 ba · sleeps 10 · 2.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $40,009ADR $310Occ ≈ 35%4.5★ (19)

    AirbnbVrbo

  • New & Cozy Cabin! Hot Tub-Loft-Arcade/Game-room!

    Cabin · 3 bd · 2 ba · sleeps 8 · 2.2 mi

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

    Revenue $29,618ADR $261Occ ≈ 31%4.9★ (27)

    AirbnbVrbo

  • Dream Haven

    Cabin · 3 bd · 3 ba · sleeps 8 · 2.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $55,851ADR $297Occ ≈ 52%5★ (143)

    AirbnbVrbo

  • Modern, Hot Tub, Air Hockey, King Beds, Pool

    Cabin · 3 bd · 2 ba · sleeps 10 · 2.3 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $51,220ADR $245Occ ≈ 57%4.8★ (74)

    AirbnbVrbo

  • "Smoky Hollow"- Hot Tub |Pool| BBQ|XBox|Games

    Cabin · 3 bd · 2 ba · sleeps 10 · 2.3 mi

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

    Revenue $40,029ADR $250Occ ≈ 44%4.8★ (43)

    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

Est. revenue

$39,468

NOI

$19,641

Cash flow /mo

$1,637

Cash needed

$632,320

Cash-on-cash (all cash)

3.1%

ROE (yr 1)

5.9%

Cap rate

3.3%

DSCR

—

Year-1 write-off

$133,923

Year-1 tax shield @ 32%

$42,855

Year-1 return on equity

  • Cash flow (annual)$19,641
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$17,678
ROE5.9%

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)$7,894
  • Platform fees (3% of revenue)$1,184
  • Maintenance / capex (5% of revenue)$1,973
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,040
  • Insurance (STR-rated)$3,536

Cash needed to close

  • Purchase price (all cash)$589,250
  • Closing costs (4.0%)$23,570
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$42,855

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

$520,000

Short-life (5/15-yr)

$113,000 · 22%

Year-1 deduction

$134,000

Year-1 tax shield @ 32%

$43,000

Land 12% (county tax record, market value split) · building $407,000 over 39 years · new furniture $20,000

Based on: 2,473 sq ft, built 2002, 3 bd / 2 ba, unfurnished, listing features (deck, patio, fence, fireplace, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $86,000 in year 1 (13% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$68,700

  • Kitchen cabinetsdefault

    $11,200 new × 40% good × 1.96 allocation

    $8,800

  • Kitchen countertopsdefault

    $9,200 new × 40% good × 1.96 allocation

    $7,200

  • Decorative trimdefault

    $4,300 new × 40% good × 1.96 allocation

    $3,400

  • Mirrorsdefault

    $300 new × 40% good × 1.96 allocation

    $200

  • Shelvingdefault

    $1,200 new × 40% good × 1.96 allocation

    $900

  • Window coverings (25)default

    $6,300 new × 40% good × 1.96 allocation

    $4,900

  • Carpet, vinyl & laminate (25% of floors)listing

    $4,000 new × 40% good × 1.96 allocation

    $3,100

  • Kitchen & laundry equipment plumbingdefault

    $8,700 new × 52% good × 1.96 allocation

    $8,900

  • Kitchen, laundry & data equipment electricaldefault

    $5,300 new × 52% good × 1.96 allocation

    $5,400

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

    $8,100 new × 40% good × 1.96 allocation

    $6,400

  • Furniture bought newlisting

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

    $19,500
15-year land improvements$63,900

  • Paving: driveway & walks (paved)listing

    $10,300 new × 50% good × 1.96 allocation

    $10,100

  • Landscaping (typical)default

    $9,900 new × 50% good × 1.96 allocation

    $9,700

  • Patioslisting

    $11,100 new × 50% good × 1.96 allocation

    $10,900

  • Decks & porches (attached)listing

    $27,800 new × 50% good × 1.96 allocation

    $27,300

  • Fencinglisting

    $6,000 new × 50% good × 1.96 allocation

    $5,900
Building, 39-year$407,000

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

    $268,700 new × 60% good × 1.96 allocation

    $316,100

  • Building plumbing & fixturesdefault

    $27,900 new × 52% good × 1.96 allocation

    $28,400

  • Building electrical & lightingdefault

    $28,600 new × 52% good × 1.96 allocation

    $29,200

  • HVACdefault

    $27,900 new × 40% good × 1.96 allocation

    $21,800

  • Hardwood & tile floorsdefault

    $11,900 new × 40% good × 1.96 allocation

    $9,400

  • Fireplacelisting

    $2,600 new × 40% good × 1.96 allocation

    $2,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$68,700$63,900$1,300$133,900
2$0$0$10,400$10,400
3$0$0$10,400$10,400
4$0$0$10,400$10,400
5$0$0$10,400$10,400
6+$0$0$363,900$363,900
Total$68,700$63,900$407,000$539,600

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.