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

524 Allensville Rd Apt 8

524 Allensville Rd Apt 8

Sevierville, TN 37876

$259,000

2 bd · 1.5 ba · 1,302 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceNegative cash flow

Year built

2002

Sqft

1,302

Lot sqft

—

HOA / mo

$90

Furnished

No

List date

2026-10-05T12:14:42.000000Z

Revenue

Annual revenue

$18,958

ADR

$137

Occupancy

38%

Cleaning fees (12 mo)

$4,609

Confidence

Low (49.3), 6 comps

Comp revenue range (p25 / median / p75)

$15,288$27,187$34,182

Median revenue of shown comps: $27,187Checking amenities for 6 listings…

  • Central Smoky Mntn Stay | No Traffic Stress!

    Townhouse · 2 bd · 2 ba · sleeps 5 · 161 ft

    Revenue $13,006ADR $136Occ ≈ 26%5★ (85)

    AirbnbVrboBooking

  • Great Smoky Mountains Townhome Getaway

    Condominium (condo) · 2 bd · 2.5 ba · sleeps 4 · 345 ft

    Revenue $6,718ADR $167Occ ≈ 11%4.8★ (100)

    AirbnbVrbo

  • Cozy 2BR Home • Near Downtown Sevierville!

    House · 2 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $32,239ADR $157Occ ≈ 56%4.8★ (41)

    Airbnb

  • The Boho Cottage | GSM/Pet-Friendly/HotTub/Fenced

    House · 2 bd · 1 ba · sleeps 6 · 0.5 mi

    Revenue $22,134ADR $210Occ ≈ 29%4★ (1)

    Airbnb

  • Winter Boho Cottage-Hot tub & Pet Fenced Yard

    House · 2 bd · 1 ba · sleeps 6 · 0.6 mi

    Revenue $34,829ADR $214Occ ≈ 45%4.7★ (115)

    AirbnbVrbo

  • Secluded Tiny Home Pet Friendly, Sevierville

    House · 2 bd · 1 ba · sleeps 4 · 0.6 mi

    Revenue $35,835ADR $146Occ ≈ 67%4.9★ (70)

    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

$18,958

NOI

$6,342

Cash flow /mo

-$901

Cash needed

$97,110

Cash-on-cash

-11.1%

ROE (yr 1)

-1.5%

Cap rate

2.4%

DSCR

0.37

Year-1 write-off

$71,979

Year-1 tax shield @ 32%

$23,033

Year-1 return on equity

  • Cash flow (annual)-$10,811
  • Principal paydown$1,613
  • Appreciation at%$7,770
ROE-1.5%

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)$3,792
  • Platform fees (3% of revenue)$569
  • Maintenance / capex (5% of revenue)$948
  • Utilities & supplies$4,200
  • HOA$1,080
  • Property tax$474
  • Insurance (STR-rated)$1,554

Cash needed to close

  • Down payment (25%)$64,750
  • Closing costs (4.0%)$10,360
  • Furnishing (bought new)$22,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$23,033

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

$229,000

Short-life (5/15-yr)

$50,000 · 22%

Year-1 deduction

$72,000

Year-1 tax shield @ 32%

$23,000

Land 12% (county tax record, market value split) · building $179,000 over 39 years · new furniture $22,000

Based on: 1,302 sq ft, built 2002, 2 bd / 1.5 ba, unfurnished, listing features (game room, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $58,000 in year 1 (16% short-life, $19,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$57,100

  • Kitchen cabinetsdefault

    $8,700 new × 40% good × 1.70 allocation

    $5,900

  • Kitchen countertopsdefault

    $7,100 new × 40% good × 1.70 allocation

    $4,800

  • Decorative trimdefault

    $2,300 new × 40% good × 1.70 allocation

    $1,500

  • Mirrorsdefault

    $200 new × 40% good × 1.70 allocation

    $100

  • Shelvingdefault

    $900 new × 40% good × 1.70 allocation

    $600

  • Window coverings (13)default

    $3,300 new × 40% good × 1.70 allocation

    $2,200

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

    $8,400 new × 40% good × 1.70 allocation

    $5,700

  • Kitchen & laundry equipment plumbingdefault

    $6,700 new × 52% good × 1.70 allocation

    $5,900

  • Kitchen, laundry & data equipment electricaldefault

    $4,100 new × 52% good × 1.70 allocation

    $3,600

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

    $7,000 new × 40% good × 1.70 allocation

    $4,800

  • 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$14,600

  • Paving: driveway & walks (paved)default

    $7,500 new × 50% good × 1.70 allocation

    $6,400

  • Landscaping (typical)default

    $7,200 new × 50% good × 1.70 allocation

    $6,100

  • Patiosdefault

    $1,300 new × 50% good × 1.70 allocation

    $1,100

  • Decks & porches (attached)default

    $1,300 new × 50% good × 1.70 allocation

    $1,100
Building, 39-year$178,900

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

    $141,200 new × 60% good × 1.70 allocation

    $143,900

  • Building plumbing & fixturesdefault

    $14,600 new × 52% good × 1.70 allocation

    $12,900

  • Building electrical & lightingdefault

    $13,800 new × 52% good × 1.70 allocation

    $12,200

  • HVACdefault

    $14,700 new × 40% good × 1.70 allocation

    $10,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$57,100$14,600$200$72,000
2$0$0$4,600$4,600
3$0$0$4,600$4,600
4$0$0$4,600$4,600
5$0$0$4,600$4,600
6+$0$0$160,400$160,400
Total$57,100$14,600$178,900$250,700

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: 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.