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Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

1805 Norlil Rd

1805 Norlil Rd

Sevierville, TN 37876

$329,900

4 bd · 2 ba · 1,408 sqft · Listed 1d ago

View on Realtor.com →

Year built

1996

Sqft

1,408

Lot sqft

9,148

HOA / mo

None

Furnished

No

List date

2026-10-29T16:35:22.000000Z

Revenue

Annual revenue

$52,006

ADR

$232

Occupancy

61%

Cleaning fees (12 mo)

$9,617

Confidence

Low (47.09), 11 comps

Comp revenue range (p25 / median / p75)

$29,305$46,345$60,541

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $46,345

  • Theater•Game Room•BBQ- Spacious Country Retreat

    House · 3 bd · 3 ba · sleeps 12 · 289 ft

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

    Revenue $76,794ADR $311Occ ≈ 68%5★ (83)

    AirbnbVrbo

  • 3 Bedroom House Near Pigeon Forge !

    House · 3 bd · 1 ba · sleeps 6 · 358 ft

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

    Revenue $58,698ADR $213Occ ≈ 76%5★ (289)

    AirbnbVrbo

  • No-Stairs Stay | Fast Access | Work Ready

    House · 3 bd · 2 ba · sleeps 6 · 410 ft

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

    Revenue $9,208ADR $151Occ ≈ 17%4.5★ (6)

    AirbnbVrbo

  • Pet Friendly Cozy Home

    House · 3 bd · 2 ba · sleeps 6 · 0.2 mi

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

    Revenue $41,007ADR $195Occ ≈ 58%5★ (111)

    AirbnbVrbo

  • Smoky Mtns Black Bear Haven - King Bed suite

    House · 3 bd · 2 ba · sleeps 6 · 0.3 mi

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

    Revenue $48,109ADR $172Occ ≈ 77%5★ (62)

    AirbnbVrbo

  • Pet-Friendly Smoky Mountain Retreat w/ Game Room!

    Cabin · 4 bd · 2.5 ba · sleeps 12 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $24,475ADR $302Occ ≈ 22%4.3★ (108)

    AirbnbVrboBooking

  • A lot fun Berry Beary Cabin. Good for families!!

    Cabin · 4 bd · 2 ba · sleeps 12 · 0.4 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +5

    Revenue $46,345ADR $249Occ ≈ 51%3.9★ (168)

    AirbnbVrbo

  • Fully stocked secluded cabin steps to Dollywood

    Cabin · 3 bd · 2 ba · sleeps 10 · 0.4 mi

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

    Revenue $62,383ADR $201Occ ≈ 85%4.9★ (216)

    AirbnbVrbo

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

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

    Revenue $34,135ADR $202Occ ≈ 46%4.8★ (189)

    AirbnbBooking

  • Pure Cabin Serenity Awaits – Book Your Escape!

    Cabin · 3 bd · 3 ba · sleeps 12 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $91,308ADR $356Occ ≈ 70%4.9★ (64)

    AirbnbVrbo

Show 1 more

  • Chetola

    House · 3 bd · 2.5 ba · sleeps 6 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $20,190ADR $188Occ ≈ 29%4.9★ (19)

    Airbnb

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 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

Est. revenue

$52,006

NOI

$30,704

Cash flow /mo

$745

Cash needed

$118,671

Cash-on-cash

7.5%

ROE (yr 1)

17.6%

Cap rate

9.3%

DSCR

1.41

Year-1 write-off

$89,100

Year-1 tax shield @ 32%

$28,512

Year-1 return on equity

  • Cash flow (annual)$8,938
  • Principal paydown$2,071
  • Appreciation at%$9,897
ROE17.6%

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)$10,401
  • Platform fees (3% of revenue)$1,560
  • Maintenance / capex (5% of revenue)$2,600
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$561
  • Insurance (STR-rated)$1,979

Cash needed to close

  • Down payment (25%)$82,475
  • Closing costs (4.0%)$13,196
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$28,512

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

$286,000

Short-life (5/15-yr)

$66,000 · 23%

Year-1 deduction

$89,000

Year-1 tax shield @ 32%

$29,000

Land 13% (county tax record, market value split) · building $220,000 over 39 years · new furniture $23,000

Based on: 1,408 sq ft, built 1996, 4 bd / 2 ba, unfurnished, listing features (patio, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $69,000 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$62,700

  • Kitchen cabinetsdefault

    $8,900 new × 40% good × 2.28 allocation

    $8,100

  • Kitchen countertopsdefault

    $7,300 new × 40% good × 2.28 allocation

    $6,600

  • Decorative trimdefault

    $2,500 new × 40% good × 2.28 allocation

    $2,200

  • Mirrorsdefault

    $300 new × 40% good × 2.28 allocation

    $300

  • Shelvingdefault

    $1,500 new × 40% good × 2.28 allocation

    $1,400

  • Window coverings (14)default

    $3,500 new × 40% good × 2.28 allocation

    $3,200

  • Carpet, vinyl & laminate (40% of floors)default

    $3,600 new × 40% good × 2.28 allocation

    $3,300

  • Kitchen & laundry equipment plumbingdefault

    $6,900 new × 40% good × 2.28 allocation

    $6,300

  • Kitchen, laundry & data equipment electricaldefault

    $4,200 new × 40% good × 2.28 allocation

    $3,800

  • Appliances (range, dishwasher, refrigerator)listing

    $5,000 new × 40% good × 2.28 allocation

    $4,600

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000
15-year land improvements$26,200

  • Paving: driveway & walks (paved)default

    $7,800 new × 50% good × 2.28 allocation

    $8,800

  • Landscaping (typical)default

    $7,500 new × 50% good × 2.28 allocation

    $8,500

  • Patioslisting

    $6,300 new × 50% good × 2.28 allocation

    $7,200

  • Decks & porches (attached)default

    $1,400 new × 50% good × 2.28 allocation

    $1,600
Building, 39-year$220,500

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

    $152,000 new × 50% good × 2.28 allocation

    $173,000

  • Building plumbing & fixturesdefault

    $15,800 new × 40% good × 2.28 allocation

    $14,400

  • Building electrical & lightingdefault

    $15,100 new × 40% good × 2.28 allocation

    $13,800

  • HVACdefault

    $15,900 new × 40% good × 2.28 allocation

    $14,400

  • Hardwood & tile floorsdefault

    $5,400 new × 40% good × 2.28 allocation

    $4,900

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$62,700$26,200$200$89,100
2$0$0$5,700$5,700
3$0$0$5,700$5,700
4$0$0$5,700$5,700
5$0$0$5,700$5,700
6+$0$0$197,600$197,600
Total$62,700$26,200$220,500$309,300

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.