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339 Paine Lake Dr

339 Paine Lake Dr

Sevierville, TN 37862

$429,900

2 bd · 2 ba · 1,505 sqft · Listed 4d ago

View on Realtor.com →

Year built

2001

Sqft

1,505

Lot sqft

5,663

HOA / mo

$179

Furnished

No

List date

2026-09-23T13:31:19Z

Revenue

Annual revenue

$36,099

ADR

$174

Occupancy

57%

Cleaning fees (12 mo)

$6,771

Confidence

Low (45.3), 49 comps

Comp revenue range (p25 / median / p75)

$21,449$31,241$44,587

  • Riverfront Condo | 2 Kings | Garage & Greenway

    2 bd · 2 ba · sleeps 4 · 0.1 mi

    Revenue —ADR $87Occ ≈ —5★ (1)

    Airbnb

  • Westover Park Condo 108 - A quiet getaway on your way to the Great Smoky Mtns

    2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue —ADR $168Occ ≈ —4.3★ (11)

    Vrbo

  • The Notch | Walkable Downtown Loft w/ Pool Table

    2 bd · 2 ba · sleeps 4 · 0.4 mi

    Revenue —ADR $171Occ ≈ —4.9★ (238)

    AirbnbVrbo

  • 2BR/2BA Hot Tub Suite • Smokies

    2 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue —ADR $189Occ ≈ —5★ (11)

    AirbnbVrbo

  • 2BR/2BA Hot Tub Suite • Songbirds

    2 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue —ADR $178Occ ≈ —5★ (14)

    Airbnb

  • 2BR/2BA Hot Tub Suite • Coat of Many Colors

    2 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue —ADR $181Occ ≈ —4.9★ (10)

    Airbnb

  • Cozy Retreat Near Smoky Mountains

    2 bd · 2 ba · sleeps 4 · 0.5 mi

    Revenue —ADR $140Occ ≈ —4.8★ (34)

    AirbnbVrbo

  • Smoky Mountain Escape | 2 King Beds | Parking

    2 bd · 2 ba · sleeps 6 · 0.5 mi

    Revenue —ADR $194Occ ≈ —5★ (168)

    Airbnb

  • Cedar Peak Condo - Downtown Sevierville

    2 bd · 1 ba · sleeps 4 · 0.5 mi

    Revenue —ADR $211Occ ≈ —5★ (2)

    —

  • Updated Cottage 2BR/2Baths! Near Smokies & Parkway

    2 bd · 2 ba · sleeps 4 · 0.5 mi

    Revenue —ADR $133Occ ≈ —4.3★ (38)

    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

Est. revenue

$36,099

NOI

$15,740

Cash flow /mo

$1,312

Cash needed

$463,096

Cash-on-cash (all cash)

3.4%

ROE (yr 1)

6.2%

Cap rate

3.7%

DSCR

—

Year-1 write-off

$69,240

Year-1 tax shield @ 32%

$22,157

Year-1 return on equity

  • Cash flow (annual)$15,740
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$12,897
ROE6.2%
ROE incl. year-1 tax savings (32% bracket, STR loophole)11.0%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$7,220
  • Platform fees (3% of revenue)$1,083
  • Maintenance / capex (5% of revenue)$1,805
  • Utilities & supplies$4,200
  • HOA$2,148
  • Property tax$1,324
  • Insurance (STR-rated)$2,579

Cash needed to close

  • Purchase price (all cash)$429,900
  • Closing costs (4.0%)$17,196
  • Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$22,157

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

$399,000

Short-life (5/15-yr)

$52,000 · 13%

Year-1 deduction

$69,000

Year-1 tax shield @ 32%

$22,000

Land 7% (county tax record, market value split) · building $347,000 over 39 years · new furniture $16,000

Based on: 1,505 sq ft, built 2001, 2 bd / 2 ba, unfurnished, listing features (patio, fireplace, flooring types).

IRS-guide safe-harbor floor: $46,000 in year 1 (7% short-life, $15,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$68,100

  • Kitchen cabinetsdefault

    $9,100 new × 40% good × 2.81 allocation

    $10,200

  • Kitchen countertopsdefault

    $7,400 new × 40% good × 2.81 allocation

    $8,400

  • Decorative trimdefault

    $2,600 new × 40% good × 2.81 allocation

    $3,000

  • Mirrorsdefault

    $300 new × 40% good × 2.81 allocation

    $300

  • Shelvingdefault

    $900 new × 40% good × 2.81 allocation

    $1,000

  • Window coverings (15)default

    $3,800 new × 40% good × 2.81 allocation

    $4,200

  • Kitchen & laundry equipment plumbingdefault

    $7,100 new × 50% good × 2.81 allocation

    $9,900

  • Kitchen, laundry & data equipment electricaldefault

    $4,300 new × 50% good × 2.81 allocation

    $6,000

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

    $8,100 new × 40% good × 2.81 allocation

    $9,100

  • Furniture bought newlisting

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

    $16,000
Building, 39-year$346,800

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

    $163,200 new × 58% good × 2.81 allocation

    $267,300

  • Building plumbing & fixturesdefault

    $16,900 new × 50% good × 2.81 allocation

    $23,700

  • Building electrical & lightingdefault

    $16,300 new × 50% good × 2.81 allocation

    $22,900

  • HVACdefault

    $17,000 new × 40% good × 2.81 allocation

    $19,000

  • Hardwood & tile floorsdefault

    $9,700 new × 40% good × 2.81 allocation

    $10,900

  • Fireplacelisting

    $2,600 new × 40% good × 2.81 allocation

    $3,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$68,100$0$1,100$69,200
2$0$0$8,900$8,900
3$0$0$8,900$8,900
4$0$0$8,900$8,900
5$0$0$8,900$8,900
6+$0$0$310,100$310,100
Total$68,100$0$346,800$415,000

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.