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Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

410 Big Bear Way Unit 3004

410 Big Bear Way Unit 3004

Pigeon Forge, TN 37863

$409,000

2 bd · 2 ba · 1,136 sqft · Listed today

View on Realtor.com →
Negative cash flow

Year built

2007

Sqft

1,136

Lot sqft

—

HOA / mo

$468

Furnished

No

List date

2026-10-04T05:14:46.000000Z

Revenue

Annual revenue

$46,023

ADR

$198

Occupancy

64%

Cleaning fees (12 mo)

$9,356

Confidence

Med (69.39), 48 comps

Comp revenue range (p25 / median / p75)

$38,347$47,259$55,595

Median revenue of shown comps: $45,058

  • Great Location! 2br/2ba Beautiful Views Indoor/Outdoor Pools, Game Room 3003

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 13 ft

    Revenue $45,780ADR $187Occ ≈ 67%4.9★ (259)

    Vrbo

  • Bear Elegance in the Heart of Pigeon Forge

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 30 ft

    Revenue $44,228ADR $201Occ ≈ 60%5★ (245)

    Vrbo

  • Stunning Smoky Mountain views! Minutes from Leconte Center and Dollywood

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 30 ft

    Revenue $42,412ADR $210Occ ≈ 55%4.9★ (218)

    Vrbo

  • Above It All

    Apartment · 2 bd · 2 ba · sleeps 6 · 36 ft

    Revenue $25,843ADR $212Occ ≈ 33%5★ (26)

    AirbnbVrbo

  • Condo with breath-taking views ,indoor/outdoor pools ,workout room 5003

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 43 ft

    Revenue $54,625ADR $200Occ ≈ 75%5★ (453)

    Vrbo

  • Luxury Mountain Retreat w/ Balcony & Fireplace

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 46 ft

    Revenue $42,579ADR $186Occ ≈ 63%4.8★ (131)

    AirbnbVrboBooking

  • 2 Mi to Attractions: Pigeon Forge Condo

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 46 ft

    Revenue $39,591ADR $195Occ ≈ 56%4.8★ (172)

    AirbnbVrboBooking

  • Spacious Cabin, Sleeps 6・View・Near Parkway

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 46 ft

    Revenue $51,833ADR $174Occ ≈ 82%4.8★ (429)

    AirbnbVrboBooking

  • Pigeon Forge Condo w/ Views & Pool

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 46 ft

    Revenue $38,034ADR $181Occ ≈ 58%4.8★ (140)

    AirbnbVrboBooking

  • Downtown Pigeon Forge | Resort Pool | Pet Friendly

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 46 ft

    Revenue $38,362ADR $193Occ ≈ 54%4.2★ (28)

    AirbnbVrboBooking

Show 35 more

  • FREE Dollywood • Big Bear Lodge 5005 • Remodeled

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 72 ft

    Revenue $50,638ADR $201Occ ≈ 69%5★ (86)

    AirbnbVrbo

  • Peaceful Pigeon Forge Condo w/ Mountain Views

    Condominium (condo) · 2 bd · 2 ba · sleeps 8 · 72 ft

    Revenue $48,738ADR $177Occ ≈ 75%4.8★ (81)

    AirbnbVrbo

  • Amazing views condo

    Condominium (condo) · 2 bd · 2 ba · sleeps 5 · 79 ft

    Revenue $28,789ADR $161Occ ≈ 49%5★ (83)

    AirbnbVrbo

  • Bearadise Dreams

    Vacation home · 2 bd · 2 ba · sleeps 6 · 95 ft

    Revenue $27,882ADR $682Occ ≈ 11%4.8★ (5)

    Booking

  • Mountain View, Pool & Hot Tub, 1 Mile to Parkway

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 108 ft

    Revenue $60,546ADR $200Occ ≈ 83%5★ (190)

    AirbnbVrbo

  • Mama Bear Paw w/ private hot tub, two pools

    Cabin · 2 bd · 2 ba · sleeps 8 · 115 ft

    Revenue $49,801ADR $254Occ ≈ 54%4.8★ (23)

    AirbnbVrboBooking

  • Pigeon Forge TN Cabin, Close to Parkway

    Cabin · 2 bd · 2 ba · sleeps 8 · 115 ft

    Revenue $37,896ADR $238Occ ≈ 44%4.5★ (41)

    AirbnbVrboBooking

  • Log cabin with full resort amenities half-mile from the Parkway

    Cabin · 2 bd · 2.5 ba · sleeps 4 · 148 ft

    Revenue $29,688ADR $193Occ ≈ 42%4.7★ (142)

    Vrbo

  • Dollywood pigeon forge Cabin, Pools, Game Room, Hot tub, 0.5 mile to Parkway

    Cabin · 2 bd · 1.5 ba · sleeps 7 · 148 ft

    Revenue $38,303ADR $193Occ ≈ 54%4.7★ (173)

    Vrbo

  • Smokey Mountain High 3001-Mountain Views-Sleeps 6

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 151 ft

    Revenue $38,749ADR $189Occ ≈ 56%4.8★ (64)

    AirbnbVrbo

  • Near Dtwn Pigeon Forge! Multi-Level Cabin w/ Pool

    Cabin · 2 bd · 2.5 ba · sleeps 6 · 154 ft

    Revenue $36,824ADR $221Occ ≈ 46%2.5★ (1)

    AirbnbVrboBooking

  • Poolside cabin with loft and access to community amenities, wifi, & gas grill

    Cabin · 2 bd · 2.5 ba · sleeps 6 · 164 ft

    Revenue $51,557ADR $222Occ ≈ 64%—

    Vrbo

  • Spacious Unit w/Beautiful Sunset Mountain Views Wraparound Balcony 4005

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 177 ft

    Revenue $52,603ADR $192Occ ≈ 75%5★ (275)

    Vrbo

  • Big Bear Condo Sleeps 6 + Free Tickets

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 187 ft

    Revenue $32,577ADR $205Occ ≈ 44%4.7★ (33)

    AirbnbVrboBooking

  • Walk to Parkway, 2 Bedroom Cabin in Big Bear Resort, Sleeps 6, Hot Tub / 2 Pools

    Cabin · 2 bd · 2.5 ba · sleeps 6 · 187 ft

    Revenue $41,196ADR $208Occ ≈ 54%4.7★ (262)

    Vrbo

  • Stunning Fall in the Smokies, Amazing Location, Am

    Cabin · 2 bd · 2.5 ba · sleeps 6 · 200 ft

    Revenue $43,411ADR $200Occ ≈ 59%4.8★ (154)

    AirbnbVrbo

  • Charming Cabin・Sleeps 6・ Hot Tub, Pool Table

    Cabin · 2 bd · 2 ba · sleeps 6 · 207 ft

    Revenue $62,313ADR $198Occ ≈ 86%4.8★ (471)

    AirbnbVrboBooking

  • Smoky Hideaway, Sleeps 6・Pool Table・Hot tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 207 ft

    Revenue $53,624ADR $182Occ ≈ 81%4.8★ (443)

    AirbnbVrboBooking

  • Cozy Retreat N Smoky, Sleeps 6・Hot Tub・Pool Table

    Cabin · 2 bd · 2 ba · sleeps 6 · 207 ft

    Revenue $57,781ADR $179Occ ≈ 88%4.8★ (452)

    AirbnbVrboBooking

  • Family Cozy Hideaway, Sleeps 6・Pool Table

    Cabin · 2 bd · 2 ba · sleeps 6 · 230 ft

    Revenue $52,331ADR $167Occ ≈ 86%4.8★ (439)

    AirbnbVrboBooking

  • Spacious Cabin, Sleeps 6・Pool Table・Hot tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 233 ft

    Revenue $56,520ADR $174Occ ≈ 89%4.8★ (454)

    AirbnbVrboBooking

  • Mountain Views, Amazing Sunsets, & Pool/Hot tub

    Townhouse · 2 bd · 2 ba · sleeps 6 · 246 ft

    Revenue $41,291ADR $199Occ ≈ 57%5★ (149)

    AirbnbVrbo

  • Cozy Mountain Retreat w Pools &Free Attraction Tix

    Cabin · 2 bd · 2.5 ba · sleeps 6 · 256 ft

    Revenue $53,815ADR $184Occ ≈ 80%4.8★ (281)

    AirbnbVrbo

  • 1 mile from Pigeon Forge log cabin Townhouse has hot tub with indoor and outdoor pool sleep 8

    House · 2 bd · 3 ba · sleeps 8 · 256 ft

    Revenue $48,771ADR $204Occ ≈ 65%4.3★ (82)

    VrboBooking

  • Big Bear 3005

    Apartment · 2 bd · 2 ba · sleeps 6 · 279 ft

    Revenue $7,015ADR $225Occ ≈ 9%5★ (2)

    AirbnbBooking

  • Best Value Cabin Hot Tub Arcade Close to Strip

    Vacation home · 2 bd · 2 ba · sleeps 8 · 338 ft

    Revenue $45,058ADR $178Occ ≈ 69%4.5★ (17)

    Booking

  • Affordable Pigeon Forge Cabin 1 Mile to Strip!

    Cabin · 2 bd · 2 ba · sleeps 8 · 345 ft

    Revenue $55,287ADR $217Occ ≈ 70%4.8★ (38)

    AirbnbVrbo

  • Cabin w/Pool & Spas & Game Room!

    Cabin · 2 bd · 3 ba · sleeps 4 · 348 ft

    Revenue $44,441ADR $204Occ ≈ 60%4.8★ (105)

    AirbnbVrboBooking

  • Win A Bear is a new cabin located in Pigeon Forge

    Cabin · 2 bd · 2.5 ba · sleeps 8 · 374 ft

    Revenue $59,782ADR $226Occ ≈ 72%4.8★ (118)

    AirbnbVrboBooking

  • Harmony In The Valley

    Cabin · 2 bd · 2 ba · sleeps 8 · 394 ft

    Revenue $80,472ADR $363Occ ≈ 61%4.9★ (127)

    AirbnbVrbo

  • Prime Location | Hot Tub • Game Room • Sleeps 8

    Cabin · 2 bd · 2.5 ba · sleeps 8 · 407 ft

    Revenue $67,680ADR $236Occ ≈ 79%4.9★ (99)

    AirbnbVrboBooking

  • We love Dogs! Hot Tub, Pool Table, Close to Strip

    Cabin · 2 bd · 2.5 ba · sleeps 8 · 430 ft

    Revenue $87,998ADR $420Occ ≈ 57%5★ (120)

    AirbnbVrbo

  • Gorgeous 2BD 2BTH Condo Cozy & Close to Parkway

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 433 ft

    Revenue $35,210ADR $206Occ ≈ 47%4.8★ (167)

    AirbnbVrboBooking

  • Prime Location | Arcade + Pool Table + Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 479 ft

    Revenue $65,088ADR $204Occ ≈ 87%4.9★ (210)

    AirbnbVrboBooking

  • ShowTickets*|Big Bear|Mountain Views|Pool|Parkway

    Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 486 ft

    Revenue $27,315ADR $210Occ ≈ 36%4.7★ (145)

    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
Management
Term

Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

Est. revenue

$46,023

NOI

$19,205

Cash flow /mo

-$657

Cash needed

$140,610

Cash-on-cash

-5.6%

ROE (yr 1)

4.9%

Cap rate

4.7%

DSCR

0.71

Year-1 write-off

$82,793

Year-1 tax shield @ 32%

$26,494

Year-1 return on equity

  • Cash flow (annual)-$7,882
  • Principal paydown$2,547
  • Appreciation at%$12,270
ROE4.9%

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)$9,205
  • Platform fees (3% of revenue)$1,381
  • Maintenance / capex (5% of revenue)$2,301
  • Utilities & supplies$4,200
  • HOA$5,616
  • Property tax$1,662
  • Insurance (STR-rated)$2,454

Cash needed to close

  • Down payment (25%)$102,250
  • Closing costs (4.0%)$16,360
  • Furnishing (bought new)$22,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$26,494

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

$344,000

Short-life (5/15-yr)

$60,000 · 18%

Year-1 deduction

$83,000

Year-1 tax shield @ 32%

$26,000

Land 16% (county tax record, market value split) · building $284,000 over 39 years · new furniture $22,000

Based on: 1,136 sq ft, built 2007, 2 bd / 2 ba, unfurnished, listing features (hot tub, game room, fireplace, stone counters, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $62,000 in year 1 (11% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$82,500

  • Kitchen cabinetsdefault

    $8,300 new × 40% good × 2.66 allocation

    $8,800

  • Kitchen countertops (stone)listing

    $8,500 new × 40% good × 2.66 allocation

    $9,000

  • Decorative trimdefault

    $2,000 new × 40% good × 2.66 allocation

    $2,100

  • Mirrorsdefault

    $300 new × 40% good × 2.66 allocation

    $300

  • Shelvingdefault

    $900 new × 40% good × 2.66 allocation

    $1,000

  • Window coverings (11)default

    $2,800 new × 40% good × 2.66 allocation

    $2,900

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

    $3,700 new × 40% good × 2.66 allocation

    $3,900

  • Kitchen & laundry equipment plumbingdefault

    $6,500 new × 62% good × 2.66 allocation

    $10,600

  • Kitchen, laundry & data equipment electricaldefault

    $3,900 new × 62% good × 2.66 allocation

    $6,400

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

    $5,500 new × 40% good × 2.66 allocation

    $5,800

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.66 allocation

    $9,600

  • 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
Building, 39-year$283,700

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

    $122,900 new × 68% good × 2.66 allocation

    $223,200

  • Building plumbing & fixturesdefault

    $12,700 new × 62% good × 2.66 allocation

    $21,000

  • Building electrical & lightingdefault

    $11,700 new × 62% good × 2.66 allocation

    $19,200

  • HVACdefault

    $12,800 new × 40% good × 2.66 allocation

    $13,600

  • Hardwood & tile floorsdefault

    $3,700 new × 40% good × 2.66 allocation

    $3,900

  • Fireplacelisting

    $2,600 new × 40% good × 2.66 allocation

    $2,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$82,500$0$300$82,800
2$0$0$7,300$7,300
3$0$0$7,300$7,300
4$0$0$7,300$7,300
5$0$0$7,300$7,300
6+$0$0$254,300$254,300
Total$82,500$0$283,700$366,200

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.