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Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

2202 Applewood Rd

2202 Applewood Rd

Sevierville, TN 37862

$849,990

7 bd · 5 ba · 3,500 sqft · Listed 1d ago

View on Realtor.com →

Year built

2000

Sqft

3,500

Lot sqft

18,731

HOA / mo

$0

Furnished

No

List date

2026-10-30T16:06:03.000000Z

Revenue

Annual revenue

$132,739

ADR

$636

Occupancy

57%

Cleaning fees (12 mo)

$14,661

Confidence

Med (60.36), 13 comps

Comp revenue range (p25 / median / p75)

$95,582$137,185$146,134

Median revenue of shown comps: $136,016

  • ~ 1 Mi to Dollywood: Home w/ Hot Tub & Grill

    Cabin · 7 bd · 5 ba · sleeps 16 · 0.9 mi

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

    Revenue $137,185ADR $703Occ ≈ 53%4.5★ (174)

    AirbnbVrboBooking

  • SRidgeLod: Pets*Hot Tub*Pool*Theater*Games*Wi-Fi

    Cabin · 7 bd · 4.5 ba · sleeps 16 · 1.0 mi

    Revenue $134,847ADR $746Occ ≈ 50%4.5★ (31)

    Airbnb

  • 7BR Smoky Mtn Cabin—Pool, Hot Tub & Theater Room

    Cabin · 7 bd · 4.5 ba · sleeps 16 · 1.1 mi

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

    Revenue $140,790ADR $664Occ ≈ 58%4.8★ (182)

    AirbnbVrboBooking

  • Pool Side Lodge by American Patriot Getaways

    Vacation home · 7 bd · 5 ba · sleeps 16 · 1.2 mi

    Revenue $146,134ADR $671Occ ≈ 60%—

    Booking

  • Renewed Spirit 7 Bedroom Cabin with Heated Pool

    Cabin · 7 bd · 5 ba · sleeps 16 · 1.2 mi

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

    Revenue $227,683ADR $817Occ ≈ 76%4.8★ (175)

    AirbnbVrbo

  • Heaven's Corner - A Million Dollar View For You!

    Cabin · 7 bd · 4.5 ba · sleeps 16 · 1.3 mi

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

    Revenue $140,580ADR $710Occ ≈ 54%4.8★ (163)

    AirbnbVrbo

  • Windows to Heaven By Avada Properties

    Vacation home · 7 bd · 4 ba · sleeps 18 · 1.4 mi

    Revenue $92,412ADR $484Occ ≈ 52%4.8★ (6)

    Booking

  • 7BR Cabin • Theater • Hot Tub • Near Dollywood

    Cabin · 7 bd · 6 ba · sleeps 16 · 1.4 mi

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

    Revenue $95,582ADR $779Occ ≈ 34%4.8★ (125)

    AirbnbVrbo

  • Slps 24! Huge 7Bd Pool Theater Game Room Mtn Views

    Cabin · 7 bd · 6 ba · sleeps 16 · 1.5 mi

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

    Revenue $123,842ADR $806Occ ≈ 42%4.6★ (97)

    AirbnbVrboBooking

  • Relaxing Cabin Views Hot Tub Theater Games

    Vacation home · 7 bd · 4 ba · sleeps 16 · 1.7 mi

    Revenue $67,916ADR $913Occ ≈ 20%—

    Booking

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 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

Est. revenue

$132,739

NOI

$83,949

Cash flow /mo

$2,323

Cash needed

$279,997

Cash-on-cash

10.0%

ROE (yr 1)

21.0%

Cap rate

9.9%

DSCR

1.50

Year-1 write-off

$190,675

Year-1 tax shield @ 32%

$61,016

Year-1 return on equity

  • Cash flow (annual)$27,870
  • Principal paydown$5,336
  • Appreciation at%$25,500
ROE21.0%

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)$26,548
  • Platform fees (3% of revenue)$3,982
  • Maintenance / capex (5% of revenue)$6,637
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$2,323
  • Insurance (STR-rated)$5,100

Cash needed to close

  • Down payment (25%)$212,498
  • Closing costs (4.0%)$34,000
  • Furnishing (bought new)$33,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$61,016

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

$790,000

Short-life (5/15-yr)

$156,000 · 20%

Year-1 deduction

$191,000

Year-1 tax shield @ 32%

$61,000

Land 7% (county tax record, market value split) · building $633,000 over 39 years · new furniture $34,000

Based on: 3,500 sq ft, built 2000, 7 bd / 5 ba, unfurnished, listing features (hot tub, deck, fireplace, stone counters, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $112,000 in year 1 (10% short-life, $36,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$113,700

  • Kitchen cabinetsdefault

    $13,500 new × 40% good × 2.28 allocation

    $12,300

  • Kitchen countertops (stone)listing

    $13,800 new × 40% good × 2.28 allocation

    $12,600

  • Decorative trimdefault

    $6,100 new × 40% good × 2.28 allocation

    $5,600

  • Mirrorsdefault

    $800 new × 40% good × 2.28 allocation

    $700

  • Shelvingdefault

    $2,400 new × 40% good × 2.28 allocation

    $2,200

  • Window coverings (35)default

    $8,800 new × 40% good × 2.28 allocation

    $8,000

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

    $5,600 new × 40% good × 2.28 allocation

    $5,100

  • Kitchen & laundry equipment plumbingdefault

    $10,500 new × 48% good × 2.28 allocation

    $11,500

  • Kitchen, laundry & data equipment electricaldefault

    $6,300 new × 48% good × 2.28 allocation

    $6,900

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

    $7,700 new × 40% good × 2.28 allocation

    $7,000

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.28 allocation

    $8,200

  • Furniture bought newlisting

    $33,500 new × 100% good · bought separately

    $33,500
15-year land improvements$76,300

  • Paving: driveway & walks (paved)default

    $12,300 new × 50% good × 2.28 allocation

    $14,000

  • Landscaping (typical)default

    $11,800 new × 50% good × 2.28 allocation

    $13,500

  • Patiosdefault

    $3,500 new × 50% good × 2.28 allocation

    $3,900

  • Decks & porches (attached)listing

    $39,400 new × 50% good × 2.28 allocation

    $44,900
Building, 39-year$633,300

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

    $379,300 new × 57% good × 2.28 allocation

    $490,600

  • Building plumbing & fixturesdefault

    $39,500 new × 48% good × 2.28 allocation

    $43,300

  • Building electrical & lightingdefault

    $41,600 new × 48% good × 2.28 allocation

    $45,600

  • HVACdefault

    $39,400 new × 40% good × 2.28 allocation

    $36,000

  • Hardwood & tile floorsdefault

    $16,900 new × 40% good × 2.28 allocation

    $15,400

  • Fireplacelisting

    $2,600 new × 40% good × 2.28 allocation

    $2,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$113,700$76,300$700$190,700
2$0$0$16,200$16,200
3$0$0$16,200$16,200
4$0$0$16,200$16,200
5$0$0$16,200$16,200
6+$0$0$567,700$567,700
Total$113,700$76,300$633,300$823,300

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.