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Rate 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium

817 Union Hill Dr

817 Union Hill Dr

Sevierville, TN 37876

$264,900

3 bd · 2 ba · 1,744 sqft · Listed 5d ago

View on Realtor.com →
Low confidence

Year built

1993

Sqft

1,744

Lot sqft

20,909

HOA / mo

None

Furnished

No

List date

2026-11-07T17:43:05.000000Z

Revenue

Annual revenue

$55,026

ADR

$205

Occupancy

74%

Cleaning fees (12 mo)

$11,067

Confidence

Low (38.96), 10 comps

Comp revenue range (p25 / median / p75)

$31,681$45,050$61,393

Median revenue of shown comps: $38,280

  • Fully stocked secluded cabin steps to Dollywood

    Cabin · 3 bd · 2 ba · sleeps 10 · 187 ft

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +4

    Revenue $62,235ADR $200Occ ≈ 85%4.9★ (222)

    AirbnbVrbo

  • Smoky Mtns Black Bear Haven - King Bed suite

    House · 3 bd · 2 ba · sleeps 6 · 0.5 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +4

    Revenue $48,704ADR $174Occ ≈ 77%5★ (67)

    AirbnbVrbo

  • 3 Bedroom House Near Pigeon Forge !

    House · 3 bd · 1 ba · sleeps 6 · 0.5 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $58,868ADR $194Occ ≈ 83%5★ (294)

    AirbnbVrbo

  • No-Stairs Stay | Fast Access | Work Ready

    House · 3 bd · 2 ba · sleeps 6 · 0.5 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $13,705ADR $154Occ ≈ 24%4.8★ (12)

    AirbnbVrbo

  • Pet Friendly Cozy Home

    House · 3 bd · 2 ba · sleeps 6 · 0.6 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +2

    Revenue $41,395ADR $192Occ ≈ 59%5★ (117)

    AirbnbVrbo

  • Pigeon Forge Cabin | 8 Min to Dollywood

    Cabin · 3 bd · 2 ba · sleeps 6 · 0.6 mi

    • A/C
    • Wifi
    • Kitchen
    • Washer

    Revenue $30,520ADR $228Occ ≈ 37%4.2★ (10)

    AirbnbBooking

  • Rustic Cabin w/ Screened Deck: 8 Mi to Dollywood

    Cabin · 3 bd · 2 ba · sleeps 7 · 0.6 mi

    Revenue $35,165ADR $197Occ ≈ 49%4.8★ (179)

    Airbnb

  • Smoky Mountains Black Bear Haven - King Bed suite

    Apartment · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    Revenue $542ADR $271Occ ≈ 1%—

    Delisted

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 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium

Est. revenue

$55,026

NOI

$33,290

Cash flow /mo

$1,326

Cash needed

$96,321

Cash-on-cash

16.5%

ROE (yr 1)

26.5%

Cap rate

12.6%

DSCR

1.92

Year-1 write-off

$70,465

Year-1 tax shield @ 32%

$22,549

Year-1 return on equity

  • Cash flow (annual)$15,913
  • Principal paydown$1,683
  • Appreciation at%$7,947
ROE26.5%

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)$11,005
  • Platform fees (3% of revenue)$1,651
  • Maintenance / capex (5% of revenue)$2,751
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$539
  • Insurance (STR-rated)$1,589

Cash needed to close

  • Down payment (25%)$66,225
  • Closing costs (4.0%)$10,596
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$22,549

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

$233,000

Short-life (5/15-yr)

$51,000 · 22%

Year-1 deduction

$70,000

Year-1 tax shield @ 32%

$23,000

Land 12% (county tax record, market value split) · building $182,000 over 39 years · new furniture $20,000

Based on: 1,744 sq ft, built 1993, 3 bd / 2 ba, unfurnished, listing features (flooring types, appliance list, wooded lot).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $54,000 in year 1 (15% short-life, $17,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$56,600

  • Kitchen cabinetsdefault

    $9,600 new × 40% good × 1.68 allocation

    $6,500

  • Kitchen countertopsdefault

    $7,900 new × 40% good × 1.68 allocation

    $5,300

  • Decorative trimdefault

    $3,100 new × 40% good × 1.68 allocation

    $2,100

  • Mirrorsdefault

    $300 new × 40% good × 1.68 allocation

    $200

  • Shelvingdefault

    $1,200 new × 40% good × 1.68 allocation

    $800

  • Window coverings (17)default

    $4,300 new × 40% good × 1.68 allocation

    $2,900

  • Carpet, vinyl & laminate (100% of floors)listing

    $11,200 new × 40% good × 1.68 allocation

    $7,500

  • Kitchen & laundry equipment plumbingdefault

    $7,500 new × 40% good × 1.68 allocation

    $5,000

  • Kitchen, laundry & data equipment electricaldefault

    $4,500 new × 40% good × 1.68 allocation

    $3,000

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

    $5,700 new × 40% good × 1.68 allocation

    $3,800

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500
15-year land improvements$13,700

  • Paving: driveway & walks (paved)default

    $8,700 new × 50% good × 1.68 allocation

    $7,300

  • Landscaping (minimal)listing

    $4,200 new × 50% good × 1.68 allocation

    $3,500

  • Patiosdefault

    $1,700 new × 50% good × 1.68 allocation

    $1,400

  • Decks & porches (attached)default

    $1,700 new × 50% good × 1.68 allocation

    $1,400
Building, 39-year$182,300

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

    $189,100 new × 45% good × 1.68 allocation

    $142,900

  • Building plumbing & fixturesdefault

    $19,600 new × 40% good × 1.68 allocation

    $13,200

  • Building electrical & lightingdefault

    $19,400 new × 40% good × 1.68 allocation

    $13,000

  • HVACdefault

    $19,600 new × 40% good × 1.68 allocation

    $13,200

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$56,600$13,700$200$70,500
2$0$0$4,700$4,700
3$0$0$4,700$4,700
4$0$0$4,700$4,700
5$0$0$4,700$4,700
6+$0$0$163,400$163,400
Total$56,600$13,700$182,300$252,600

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.