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2308 Whipoorwill Hill Way

2308 Whipoorwill Hill Way

Sevierville, TN 37862

$520,000

2 bd · 3 ba · 1,716 sqft · Listed 3d ago

View on Realtor.com →
Rental history

Year built

2007

Sqft

1,716

Lot sqft

27,878

HOA / mo

None

Furnished

No

List date

2026-09-24T15:07:20Z

Revenue

Annual revenue

$64,623

ADR

$253

Occupancy

70%

Cleaning fees (12 mo)

$11,451

Confidence

Low (46.16), 45 comps

Comp revenue range (p25 / median / p75)

$34,109$48,456$68,677

  • Free Dollywood Tix/Modern/Stylish/Dog Friendly

    2 bd · 3 ba · sleeps 8 · 427 ft

    Revenue —ADR $287Occ ≈ —4.9★ (38)

    AirbnbVrbo

  • Modern Smoky Cabin | Hot Tub | Mtn Views | Pets

    2 bd · 3 ba · sleeps 8 · 476 ft

    Revenue —ADR $284Occ ≈ —5★ (22)

    AirbnbVrbo

  • Smoky Overlook

    2 bd · 3 ba · sleeps 6 · 515 ft

    Revenue —ADR $257Occ ≈ —4.8★ (20)

    AirbnbVrbo

  • Family Cabin: Hot Tub, Gameroom, Firepit & Pets!

    2 bd · 2 ba · sleeps 8 · 522 ft

    Revenue —ADR $265Occ ≈ —4.8★ (69)

    AirbnbVrbo

  • Smoky Mountain Dreamin'- VIEWS, upscale amenities

    2 bd · 2.5 ba · sleeps 10 · 0.1 mi

    Revenue —ADR $327Occ ≈ —4.8★ (7)

    AirbnbVrbo

  • Brand New Cabin- Hot Tub, Fire Pit, & Games

    2 bd · 2.5 ba · sleeps 8 · 0.1 mi

    Revenue —ADR $293Occ ≈ —5★ (52)

    AirbnbVrbo

  • Chara Vista Cabin: A Smoky Mountain Retreat

    2 bd · 2.5 ba · sleeps 8 · 0.1 mi

    Revenue —ADR $465Occ ≈ —5★ (44)

    AirbnbVrbo

  • Modern Lux|Sauna•Hot Tub•HUGE1,200sqft Deck•Arcade

    2 bd · 2 ba · sleeps 5 · 0.2 mi

    Revenue —ADR $297Occ ≈ —5★ (16)

    Airbnb

  • Smoky Mountain Views + Game Room Retreat | Hot Tub

    2 bd · 2 ba · sleeps 8 · 0.2 mi

    Revenue —ADR $553Occ ≈ —4.5★ (4)

    AirbnbVrbo

  • Peaceful 2BR w/Views! Hot Tub*Fireplace*Game Room

    2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue —ADR $237Occ ≈ —4.9★ (71)

    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

$64,623

NOI

$37,466

Cash flow /mo

$3,122

Cash needed

$562,800

Cash-on-cash (all cash)

6.7%

ROE (yr 1)

9.4%

Cap rate

7.2%

DSCR

—

Year-1 write-off

$123,021

Year-1 tax shield @ 32%

$39,367

Year-1 return on equity

  • Cash flow (annual)$37,466
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$15,600
ROE9.4%
ROE incl. year-1 tax savings (32% bracket, STR loophole)16.4%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$12,925
  • Platform fees (3% of revenue)$1,939
  • Maintenance / capex (5% of revenue)$3,231
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,743
  • Insurance (STR-rated)$3,120

Cash needed to close

  • Purchase price (all cash)$520,000
  • Closing costs (4.0%)$20,800
  • Furnishing (bought new)$22,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$39,367

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

$485,000

Short-life (5/15-yr)

$100,000 · 21%

Year-1 deduction

$123,000

Year-1 tax shield @ 32%

$39,000

Land 7% (county tax record, market value split) · building $385,000 over 39 years · new furniture $22,000

Based on: 1,716 sq ft, built 2007, 2 bd / 3 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $81,000 in year 1 (12% short-life, $26,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$83,200

  • Kitchen cabinetsdefault

    $9,600 new × 40% good × 2.29 allocation

    $8,800

  • Kitchen countertopsdefault

    $7,800 new × 40% good × 2.29 allocation

    $7,200

  • Decorative trimdefault

    $3,000 new × 40% good × 2.29 allocation

    $2,800

  • Mirrorsdefault

    $500 new × 40% good × 2.29 allocation

    $400

  • Shelvingdefault

    $900 new × 40% good × 2.29 allocation

    $800

  • Window coverings (17)default

    $4,300 new × 40% good × 2.29 allocation

    $3,900

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

    $5,500 new × 40% good × 2.29 allocation

    $5,100

  • Kitchen & laundry equipment plumbingdefault

    $7,400 new × 62% good × 2.29 allocation

    $10,600

  • Kitchen, laundry & data equipment electricaldefault

    $4,500 new × 62% good × 2.29 allocation

    $6,400

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

    $7,700 new × 40% good × 2.29 allocation

    $7,100

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.29 allocation

    $8,200

  • Furniture bought newlisting

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

    $16,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$38,600

  • Paving: driveway & walks (paved)default

    $8,600 new × 50% good × 2.29 allocation

    $9,800

  • Landscaping (minimal)listing

    $4,100 new × 50% good × 2.29 allocation

    $4,700

  • Patiosdefault

    $1,700 new × 50% good × 2.29 allocation

    $1,900

  • Decks & porches (attached)listing

    $19,300 new × 50% good × 2.29 allocation

    $22,100
Building, 39-year$384,900

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

    $186,100 new × 68% good × 2.29 allocation

    $291,500

  • Building plumbing & fixturesdefault

    $19,300 new × 62% good × 2.29 allocation

    $27,400

  • Building electrical & lightingdefault

    $19,000 new × 62% good × 2.29 allocation

    $27,000

  • HVACdefault

    $19,300 new × 40% good × 2.29 allocation

    $17,700

  • Hardwood & tile floorsdefault

    $5,500 new × 40% good × 2.29 allocation

    $5,100

  • Fireplacelisting

    $2,600 new × 40% good × 2.29 allocation

    $2,400

  • Septic systemlisting

    $12,000 new × 50% good × 2.29 allocation

    $13,700

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$83,200$38,600$1,200$123,000
2$0$0$9,900$9,900
3$0$0$9,900$9,900
4$0$0$9,900$9,900
5$0$0$9,900$9,900
6+$0$0$344,200$344,200
Total$83,200$38,600$384,900$506,700

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.