4428 Grindstone Ridge Rd
Pigeon Forge, TN 37863
$515,000
2 bd · 3 ba · 1,390 sqft · Listed 1d ago
View on Realtor.com →Year built
1988
Sqft
1,390
Lot sqft
30,492
HOA / mo
None
Furnished
No
List date
2026-10-24T16:05:22.000000Z
Revenue
Annual revenue
$50,638
ADR
$246
Occupancy
56%
Cleaning fees (12 mo)
$9,810
Confidence
Low (46.42), 12 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $52,489
Unique Charm, Pets (2 Max) welcome, Pigeon Forge, 2-4 guests
House · 2 bd · 2 ba · sleeps 5 · 0.1 mi
Revenue $35,265ADR $222Occ ≈ 44%4.9★ (198)
Secluded Hiking and Fishing access close to Pigeon Forge-dog Friendly
Cabin · 2 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue $42,604ADR $184Occ ≈ 63%4.3★ (112)
The Summit in Pigeon Forge
Cabin · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $1,963ADR $196Occ ≈ 3%—
Private Two Bedroom Pigeon Forge Rental- Stocked Fishing Pond Access
Chalet · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $54,916ADR $233Occ ≈ 65%4.3★ (69)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Unique Charm, Pets (2 Max) welcome, Pigeon Forge, 2-4 guests House | 2 bd · 2 ba · sleeps 5 | $35,265 | $222 | 44% | 4.9★ (198) | 0.1 mi | Vrbo |
Custom Built Cabin with Gorgeous Views Cabin | 2 bd · 2 ba · sleeps 8 | $44,864 | $250 | 49% | 4.8★ (9) | 0.3 mi | AirbnbVrbo |
Secluded Pigeon Forge Cabin Getaway-Pet Friendly-Fishing access catch release Cabin | 2 bd · 2 ba · sleeps 4 | $56,676 | $211 | 74% | 4.5★ (101) | 0.3 mi | VrboBooking |
Secluded Hiking and Fishing access close to Pigeon Forge-dog Friendly Cabin | 2 bd · 2 ba · sleeps 6 | $42,604 | $184 | 63% | 4.3★ (112) | 0.3 mi | Vrbo |
Log cabin- pool table, hot tub, firepit, mtn views Cabin | 2 bd · 2 ba · sleeps 8 | $99,004 | $352 | 77% | 4.7★ (20) | 0.3 mi | AirbnbVrbo |
The Summit in Pigeon Forge Cabin | 2 bd · 2 ba · sleeps 6 | $1,963 | $196 | 3% | — | 0.4 mi | Airbnb |
Private Two Bedroom Pigeon Forge Rental- Stocked Fishing Pond Access Chalet | 2 bd · 2 ba · sleeps 6 | $54,916 | $233 | 65% | 4.3★ (69) | 0.4 mi | Vrbo |
Cabin in Pigeon Forge Tn. “Briarwood” Cabin | 2 bd · 3 ba · sleeps 6 | $20,514 | $200 | 28% | 5★ (34) | 0.4 mi | AirbnbVrbo |
Semi-Secluded-Mountain Cabin-Hot Tub-Dog Stay Free Cabin | 2 bd · 2 ba · sleeps 4 | $53,953 | $263 | 56% | 4.8★ (141) | 0.4 mi | AirbnbVrboBooking |
Huckleberry Ridge | Hot Tub + Game Room! Cabin | 2 bd · 2 ba · sleeps 8 | $74,175 | $381 | 53% | 3.7★ (22) | 0.5 mi | AirbnbVrboBooking |
Show 1 more
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
Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium
Est. revenue
$50,638
NOI
$27,904
Cash flow /mo
-$528
Cash needed
$165,350
Cash-on-cash
-3.8%
ROE (yr 1)
7.4%
Cap rate
5.4%
DSCR
0.82
Year-1 write-off
$148,763
Year-1 tax shield @ 32%
$47,604
Year-1 return on equity
- Cash flow (annual)-$6,332
- Principal paydown$3,182
- Appreciation at%$15,450
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)$10,128
- Platform fees (3% of revenue)$1,519
- Maintenance / capex (5% of revenue)$2,532
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,265
- Insurance (STR-rated)$3,090
Cash needed to close
- Down payment (25%)$128,750
- Closing costs (4.0%)$20,600
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$47,604
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
$477,000
Short-life (5/15-yr)
$132,000 · 28%
Year-1 deduction
$149,000
Year-1 tax shield @ 32%
$48,000
Land 7% (county tax record, market value split) · building $345,000 over 39 years · new furniture $16,000
Based on: 1,390 sq ft, built 1988, 2 bd / 3 ba, unfurnished, listing features (hot tub, deck, fireplace, flooring types, appliance list, septic, wooded lot).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $89,000 in year 1 (15% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $13,500
Kitchen cabinetsdefault
$8,800 new × 40% good × 3.82 allocation
- $11,100
Kitchen countertopsdefault
$7,200 new × 40% good × 3.82 allocation
- $3,700
Decorative trimdefault
$2,400 new × 40% good × 3.82 allocation
- $700
Mirrorsdefault
$500 new × 40% good × 3.82 allocation
- $1,400
Shelvingdefault
$900 new × 40% good × 3.82 allocation
- $5,300
Window coverings (14)default
$3,500 new × 40% good × 3.82 allocation
- $10,500
Kitchen & laundry equipment plumbingdefault
$6,900 new × 40% good × 3.82 allocation
- $6,400
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 40% good × 3.82 allocation
- $11,800
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 3.82 allocation
- $13,700
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.82 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $14,800
Paving: driveway & walks (paved)default
$7,700 new × 50% good × 3.82 allocation
- $7,100
Landscaping (minimal)listing
$3,700 new × 50% good × 3.82 allocation
- $2,600
Patiosdefault
$1,400 new × 50% good × 3.82 allocation
- $29,900
Decks & porches (attached)listing
$15,600 new × 50% good × 3.82 allocation
- $229,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$150,500 new × 40% good × 3.82 allocation
- $23,800
Building plumbing & fixturesdefault
$15,600 new × 40% good × 3.82 allocation
- $22,700
Building electrical & lightingdefault
$14,900 new × 40% good × 3.82 allocation
- $23,900
HVACdefault
$15,700 new × 40% good × 3.82 allocation
- $13,700
Hardwood & tile floorsdefault
$8,900 new × 40% good × 3.82 allocation
- $8,000
Fireplaces (2)listing
$5,300 new × 40% good × 3.82 allocation
- $22,900
Septic systemlisting
$12,000 new × 50% good × 3.82 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $94,100 | $54,300 | $400 | $148,800 |
| 2 | $0 | $0 | $8,800 | $8,800 |
| 3 | $0 | $0 | $8,800 | $8,800 |
| 4 | $0 | $0 | $8,800 | $8,800 |
| 5 | $0 | $0 | $8,800 | $8,800 |
| 6+ | $0 | $0 | $309,300 | $309,300 |
| Total | $94,100 | $54,300 | $345,000 | $493,400 |
The building's share of the price ($477,000) is 3.8x our depreciated replacement cost of the home ($125,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
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.