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3458 Obes Way

3458 Obes Way

Sevierville, TN 37876

$829,900

2 bd · 3 ba · 3,217 sqft · Listed 1d ago

View on Realtor.com →

Year built

2003

Sqft

3,217

Lot sqft

234,353

HOA / mo

$0

Furnished

No

List date

2026-09-26T11:23:47.000000Z

Revenue

Annual revenue

$59,231

ADR

$239

Occupancy

68%

Cleaning fees (12 mo)

$11,107

Confidence

Low (42.41), 14 comps

Comp revenue range (p25 / median / p75)

$37,283$60,035$78,071

  • Treetop Cabin • Hot Tub + Game Room + Wrapped Deck

    Cabin · 3 bd · 3.5 ba · sleeps 11 · 0.2 mi

    Revenue $7,694ADR $265Occ ≈ 8%5★ (1)

    AirbnbVrboBooking

  • Treetop Cabin • Hot Tub + Game Room + Wrapped Deck

    Cabin · 3 bd · 3.5 ba · sleeps 11 · 0.2 mi

    Revenue $11,911ADR $305Occ ≈ 11%5★ (1)

    Airbnb

  • Bearadise | Mountain Escape with Theater, Arcade & Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $70,720ADR $275Occ ≈ 70%5★ (4)

    Vrbo

  • Black Berry Cabin by Venture Smoky Mountains

    Vacation home · 3 bd · 2 ba · sleeps 10 · 0.4 mi

    Revenue $55,556ADR $384Occ ≈ 40%—

    Booking

  • Modern Mountain Retreat w/ Hot Tub & Views

    Cabin · 3 bd · 2 ba · sleeps 10 · 0.4 mi

    Revenue $89,013ADR $381Occ ≈ 64%3★ (1)

    AirbnbVrbo

  • Secluded Mountain Cabin w/Pond•Fenced yards•Pets

    Cabin · 3 bd · 2 ba · sleeps 8 · 0.6 mi

    Revenue $67,936ADR $294Occ ≈ 63%4.8★ (134)

    AirbnbVrbo

  • Serene Cabin Hideaway, Sleeps 8・Pet Friendly・Deck

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.6 mi

    Revenue $40,803ADR $170Occ ≈ 66%4.8★ (58)

    AirbnbVrbo

  • Private Zipline| Dollywood Cups| Sleeps 12| Arcade

    House · 3 bd · 2 ba · sleeps 12 · 0.6 mi

    Revenue $61,205ADR $279Occ ≈ 60%5★ (38)

    AirbnbVrbo

  • Family-Friendly Cabin | Kings+Hot Tub+Arcade

    Cabin · 3 bd · 2 ba · sleeps 9 · 0.7 mi

    Revenue $58,864ADR $210Occ ≈ 77%5★ (82)

    Airbnb

  • Epic Mountain Views! Arcade•PingPong•Hot Tub

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

    Revenue $80,521ADR $357Occ ≈ 62%4.8★ (47)

    AirbnbVrbo

Show all 14 comps

  • Family Cabin | Fire Pit • Bunk Room • Sleeps 10

    Cabin · 3 bd · 2 ba · sleeps 10 · 0.7 mi

    Revenue $36,110ADR $163Occ ≈ 61%4.8★ (114)

    AirbnbVrbo

  • Lux cabin Waterfall, Breathtaking Views & Hot Tub!

    Cabin · 2 bd · 2.5 ba · sleeps 6 · 0.7 mi

    Revenue $85,871ADR $266Occ ≈ 88%5★ (194)

    AirbnbVrbo

  • *NEW* Luxury Cabin EPIC MTN views! HotTub! Arcade!

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

    Revenue $1,534ADR $511Occ ≈ 1%4.8★ (166)

    AirbnbVrbo

  • Tequila Moon: Dive Into Paradise

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.7 mi

    Revenue $103,392ADR $524Occ ≈ 54%2★ (1)

    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

Est. revenue

$59,231

NOI

$32,425

Cash flow /mo

$2,702

Cash needed

$879,096

Cash-on-cash (all cash)

3.7%

ROE (yr 1)

6.5%

Cap rate

3.9%

DSCR

—

Year-1 write-off

$150,849

Year-1 tax shield @ 32%

$48,272

Year-1 return on equity

  • Cash flow (annual)$32,425
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$24,897
ROE6.5%
ROE incl. year-1 tax savings (32% bracket, STR loophole)12.0%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$11,846
  • Platform fees (3% of revenue)$1,777
  • Maintenance / capex (5% of revenue)$2,962
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,042
  • Insurance (STR-rated)$4,979

Cash needed to close

  • Purchase price (all cash)$829,900
  • Closing costs (4.0%)$33,196
  • Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$48,272

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

$719,000

Short-life (5/15-yr)

$133,000 · 19%

Year-1 deduction

$151,000

Year-1 tax shield @ 32%

$48,000

Land 13% (county tax record, market value split) · building $586,000 over 39 years · new furniture $16,000

Based on: 3,217 sq ft, built 2003, 2 bd / 3 ba, unfurnished, listing features (deck, patio, fireplace, flooring types, appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $89,000 in year 1 (10% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$78,800

  • Kitchen cabinetsdefault

    $12,900 new × 40% good × 2.06 allocation

    $10,600

  • Kitchen countertopsdefault

    $10,500 new × 40% good × 2.06 allocation

    $8,700

  • Decorative trimdefault

    $5,600 new × 40% good × 2.06 allocation

    $4,600

  • Mirrorsdefault

    $500 new × 40% good × 2.06 allocation

    $400

  • Shelvingdefault

    $900 new × 40% good × 2.06 allocation

    $700

  • Window coverings (32)default

    $8,000 new × 40% good × 2.06 allocation

    $6,600

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

    $10,400 new × 40% good × 2.06 allocation

    $8,500

  • Kitchen & laundry equipment plumbingdefault

    $10,000 new × 54% good × 2.06 allocation

    $11,100

  • Kitchen, laundry & data equipment electricaldefault

    $6,000 new × 54% good × 2.06 allocation

    $6,700

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

    $5,700 new × 40% good × 2.06 allocation

    $4,700

  • Furniture bought newlisting

    $16,000 new × 100% good · bought separately

    $16,000
15-year land improvements$70,200

  • Paving: driveway & walks (paved)default

    $11,800 new × 50% good × 2.06 allocation

    $12,100

  • Landscaping (minimal)listing

    $5,700 new × 50% good × 2.06 allocation

    $5,800

  • Patioslisting

    $14,500 new × 50% good × 2.06 allocation

    $14,900

  • Decks & porches (attached)listing

    $36,200 new × 50% good × 2.06 allocation

    $37,300
Building, 39-year$585,500

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

    $350,200 new × 62% good × 2.06 allocation

    $445,400

  • Building plumbing & fixturesdefault

    $36,300 new × 54% good × 2.06 allocation

    $40,400

  • Building electrical & lightingdefault

    $38,100 new × 54% good × 2.06 allocation

    $42,400

  • HVACdefault

    $36,200 new × 40% good × 2.06 allocation

    $29,900

  • Hardwood & tile floorsdefault

    $10,400 new × 40% good × 2.06 allocation

    $8,500

  • Fireplaces (3)listing

    $7,900 new × 40% good × 2.06 allocation

    $6,500

  • Septic systemlisting

    $12,000 new × 50% good × 2.06 allocation

    $12,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$78,800$70,200$1,900$150,800
2$0$0$15,000$15,000
3$0$0$15,000$15,000
4$0$0$15,000$15,000
5$0$0$15,000$15,000
6+$0$0$523,600$523,600
Total$78,800$70,200$585,500$734,500

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.