2022 Center Rd

Pigeon Forge, TN 37863

$324,950

3 bd · 1 ba · 1,488 sqft · Listed 5d ago

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Year built

1962

Sqft

1,488

Lot sqft

10,454

HOA / mo

None

Furnished

List date

2026-09-22T21:54:36Z

Revenue

Annual revenue

$38,102

ADR

$206

Occupancy

51%

Cleaning fees (12 mo)

$5,742

Confidence

Med (61.32), 50 comps

Comp revenue range (p25 / median / p75)

$26,893$36,540$45,312

Majestic Bear Retreat
3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $209Occ ≈ ——
—
Pigeon Forge Vacation Rental with Private Hot Tub!
3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $143Occ ≈ —4.3★ (35)
—
Fall Escape to the Smokies- Hot tub, cozy cabin, Pigeon Forge close to Dollywood
3 bd · 2 ba · sleeps 5 · 0.2 mi
Revenue —ADR $186Occ ≈ —4.8★ (14)
—
1BR log cabin sleeps 6- walking distance to Wonderworks and 5 miles to Dollywood!
3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $151Occ ≈ —4.8★ (2)
—
1BR2 bath log cabin sleeps 6- walk to Titanic Museum and 5 miles from Dollywood!
3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $168Occ ≈ —4.7★ (5)
—
2 Mins Pkwy | Hot Tub•Fire Pit•Game Room•Pets
3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue —ADR $207Occ ≈ —4.8★ (83)
Airbnb
Making Memories - Unit 3301 - Mountain View Condos
3 bd · 2 ba · sleeps 8 · 0.2 mi
Revenue —ADR $185Occ ≈ —4.7★ (172)
Airbnb Vrbo
Brother Bear - Unit 3107 - Mountain View Condos
3 bd · 2 ba · sleeps 8 · 0.2 mi
Revenue —ADR $202Occ ≈ —4.2★ (59)
Airbnb Vrbo
Hawks Nest - Unit 5707 - Mountain View Condos
3 bd · 2 ba · sleeps 8 · 0.2 mi
Revenue —ADR $220Occ ≈ —4.8★ (104)
Airbnb Vrbo
Mountain View Zodiac - Unit 3201
3 bd · 2 ba · sleeps 8 · 0.2 mi
Revenue —ADR $184Occ ≈ —4.3★ (22)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Majestic Bear Retreat	3 bd · 2 ba · sleeps 6	—	$209	—	—	0.2 mi	—
Pigeon Forge Vacation Rental with Private Hot Tub!	3 bd · 2 ba · sleeps 6	—	$143	—	4.3★ (35)	0.2 mi	—
Fall Escape to the Smokies- Hot tub, cozy cabin, Pigeon Forge close to Dollywood	3 bd · 2 ba · sleeps 5	—	$186	—	4.8★ (14)	0.2 mi	—
1BR log cabin sleeps 6- walking distance to Wonderworks and 5 miles to Dollywood!	3 bd · 2 ba · sleeps 6	—	$151	—	4.8★ (2)	0.2 mi	—
1BR2 bath log cabin sleeps 6- walk to Titanic Museum and 5 miles from Dollywood!	3 bd · 2 ba · sleeps 6	—	$168	—	4.7★ (5)	0.2 mi	—
2 Mins Pkwy \| Hot Tub•Fire Pit•Game Room•Pets	3 bd · 2 ba · sleeps 6	—	$207	—	4.8★ (83)	0.2 mi	Airbnb
Making Memories - Unit 3301 - Mountain View Condos	3 bd · 2 ba · sleeps 8	—	$185	—	4.7★ (172)	0.2 mi	Airbnb Vrbo
Brother Bear - Unit 3107 - Mountain View Condos	3 bd · 2 ba · sleeps 8	—	$202	—	4.2★ (59)	0.2 mi	Airbnb Vrbo
Hawks Nest - Unit 5707 - Mountain View Condos	3 bd · 2 ba · sleeps 8	—	$220	—	4.8★ (104)	0.2 mi	Airbnb Vrbo
Mountain View Zodiac - Unit 3201	3 bd · 2 ba · sleeps 8	—	$184	—	4.3★ (22)	0.2 mi	Airbnb Vrbo

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

Purchase priceAlready furnishedTax bracket

Est. revenue

$38,102

NOI

$20,785

Cash flow /mo

$1,732

Cash needed

$363,448

Cash-on-cash (all cash)

5.7%

ROE (yr 1)

8.4%

Cap rate

6.4%

DSCR

—

Year-1 write-off

$103,113

Year-1 tax shield @ 32%

$32,996

Year-1 return on equity

Cash flow (annual)$20,785
Principal paydown (n/a, cash)$0
Appreciation at%$9,749

ROE8.4%

ROE incl. year-1 tax savings (32% bracket, STR loophole)17.5%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$7,620
Platform fees (3% of revenue)$1,143
Maintenance / capex (5% of revenue)$1,905
Utilities & supplies$4,200
HOA$0
Property tax$499
Insurance (STR-rated)$1,950

Cash needed to close

Purchase price (all cash)$324,950
Closing costs (4.0%)$12,998
Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

Tax shield @ 32%$32,996

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

$259,000

Short-life (5/15-yr)

$77,000 · 30%

Year-1 deduction

$103,000

Year-1 tax shield @ 32%

$33,000

Land 20% (county tax record, market value split) · building $182,000 over 39 years · new furniture $26,000

Based on: 1,488 sq ft, built 1962, 3 bd / 1 ba, unfurnished, listing features (deck, patio, game room, wooded lot).

IRS-guide safe-harbor floor: $68,000 in year 1 (16% short-life, $22,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$65,400

Kitchen cabinetsdefault
$9,100 new × 40% good × 2.10 allocation
$7,600
Kitchen countertopsdefault
$7,400 new × 40% good × 2.10 allocation
$6,200
Decorative trimdefault
$2,600 new × 40% good × 2.10 allocation
$2,200
Mirrorsdefault
$200 new × 40% good × 2.10 allocation
$100
Shelvingdefault
$1,200 new × 40% good × 2.10 allocation
$1,000
Window coverings (15)default
$3,800 new × 40% good × 2.10 allocation
$3,200
Carpet, vinyl & laminate (40% of floors)default
$3,800 new × 40% good × 2.10 allocation
$3,200
Kitchen & laundry equipment plumbingdefault
$7,100 new × 40% good × 2.10 allocation
$5,900
Kitchen, laundry & data equipment electricaldefault
$4,300 new × 40% good × 2.10 allocation
$3,600
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 2.10 allocation
$6,800
Furniture bought newlisting
$19,500 new × 100% good · bought separately
$19,500
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
$6,000

15-year land improvements$37,100

Paving: driveway & walks (paved)default
$8,000 new × 50% good × 2.10 allocation
$8,400
Landscaping (minimal)listing
$3,800 new × 50% good × 2.10 allocation
$4,000
Patioslisting
$6,700 new × 50% good × 2.10 allocation
$7,000
Decks & porches (attached)listing
$16,700 new × 50% good × 2.10 allocation
$17,600

Building, 39-year$182,300

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$161,200 new × 40% good × 2.10 allocation
$135,700
Building plumbing & fixturesdefault
$16,700 new × 40% good × 2.10 allocation
$14,100
Building electrical & lightingdefault
$16,100 new × 40% good × 2.10 allocation
$13,600
HVACdefault
$16,800 new × 40% good × 2.10 allocation
$14,100
Hardwood & tile floorsdefault
$5,700 new × 40% good × 2.10 allocation
$4,800

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$65,400	$37,100	$600	$103,100
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	$163,000	$163,000
Total	$65,400	$37,100	$182,300	$284,800

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.