1540 Licking Spring Way
Sevierville, TN 37876
$629,000
3 bd · 3 ba · 2,246 sqft · Listed today
View on Realtor.com →Year built
1999
Sqft
2,246
Lot sqft
118,048
HOA / mo
$0
Furnished
No
List date
2026-10-17T01:18:29.000000Z
Revenue
Annual revenue
$66,137
ADR
$341
Occupancy
53%
Cleaning fees (12 mo)
$12,708
Confidence
Low (44.67), 6 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $53,269
Smokies & Dollywood 20 Min | Pool-HotTub-Theatre
House · 3 bd · 3 ba · sleeps 9 · 0.7 mi
Revenue $98,323ADR $384Occ ≈ 70%5★ (48)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
3 Peaks View-Amazing Mountain Views, Hot Tub, WIFI Cabin | 3 bd · 3 ba · sleeps 10 | $8,396 | $246 | 9% | — | 0.4 mi | AirbnbVrboBooking |
Licking Spring Hideaway Cabin | 3 bd · 2 ba · sleeps 8 | $45,509 | $387 | 32% | 4.9★ (7) | 0.4 mi | AirbnbVrbo |
Deer Browse Hideaway: Sink a Putt, Soak It In Cabin | 3 bd · 3 ba · sleeps 8 | $61,028 | $354 | 47% | 4.2★ (8) | 0.4 mi | AirbnbVrbo |
Secluded Luxe Cabin | Hot Tub, Game Room, Theater House | 3 bd · 3.5 ba · sleeps 7 | $66,884 | $316 | 58% | 4.8★ (105) | 0.6 mi | AirbnbVrbo |
Smokies Pool Cabin | Hot Tub | Theater | Dollywood Cabin
| 3 bd · 3 ba · sleeps 8 | $43,272 | $439 | 27% | 4.9★ (11) | 0.7 mi | AirbnbVrbo |
Smokies & Dollywood 20 Min | Pool-HotTub-Theatre House | 3 bd · 3 ba · sleeps 9 | $98,323 | $384 | 70% | 5★ (48) | 0.7 mi | 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
Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium
Est. revenue
$66,137
NOI
$38,762
Cash flow /mo
-$281
Cash needed
$201,910
Cash-on-cash
-1.7%
ROE (yr 1)
9.6%
Cap rate
6.2%
DSCR
0.92
Year-1 write-off
$120,037
Year-1 tax shield @ 32%
$38,412
Year-1 return on equity
- Cash flow (annual)-$3,370
- Principal paydown$3,825
- Appreciation at%$18,870
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)$13,227
- Platform fees (3% of revenue)$1,984
- Maintenance / capex (5% of revenue)$3,307
- Utilities & supplies$4,200
- HOA$0
- Property tax$883
- Insurance (STR-rated)$3,774
Cash needed to close
- Down payment (25%)$157,250
- Closing costs (4.0%)$25,160
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$38,412
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
$556,000
Short-life (5/15-yr)
$100,000 · 18%
Year-1 deduction
$120,000
Year-1 tax shield @ 32%
$38,000
Land 12% (county tax record, market value split) · building $456,000 over 39 years · new furniture $20,000
Based on: 2,246 sq ft, built 1999, 3 bd / 3 ba, unfurnished, listing features (patio, fireplace, flooring types, appliance list, septic, wooded lot).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $91,000 in year 1 (13% short-life, $29,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,100
Kitchen cabinetsdefault
$10,700 new × 40% good × 2.58 allocation
- $9,100
Kitchen countertopsdefault
$8,800 new × 40% good × 2.58 allocation
- $4,100
Decorative trimdefault
$3,900 new × 40% good × 2.58 allocation
- $500
Mirrorsdefault
$500 new × 40% good × 2.58 allocation
- $1,200
Shelvingdefault
$1,200 new × 40% good × 2.58 allocation
- $5,700
Window coverings (22)default
$5,500 new × 40% good × 2.58 allocation
- $9,900
Carpet, vinyl & laminate (67% of floors)listing
$9,600 new × 40% good × 2.58 allocation
- $9,900
Kitchen & laundry equipment plumbingdefault
$8,300 new × 46% good × 2.58 allocation
- $6,000
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 46% good × 2.58 allocation
- $8,000
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 2.58 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $12,700
Paving: driveway & walks (paved)default
$9,800 new × 50% good × 2.58 allocation
- $6,100
Landscaping (minimal)listing
$4,700 new × 50% good × 2.58 allocation
- $13,000
Patioslisting
$10,100 new × 50% good × 2.58 allocation
- $2,900
Decks & porches (attached)default
$2,200 new × 50% good × 2.58 allocation
- $346,100
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$243,800 new × 55% good × 2.58 allocation
- $30,000
Building plumbing & fixturesdefault
$25,300 new × 46% good × 2.58 allocation
- $30,600
Building electrical & lightingdefault
$25,700 new × 46% good × 2.58 allocation
- $26,100
HVACdefault
$25,300 new × 40% good × 2.58 allocation
- $5,000
Hardwood & tile floorsdefault
$4,800 new × 40% good × 2.58 allocation
- $2,700
Fireplacelisting
$2,600 new × 40% good × 2.58 allocation
- $15,500
Septic systemlisting
$12,000 new × 50% good × 2.58 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $84,900 | $34,700 | $500 | $120,000 |
| 2 | $0 | $0 | $11,700 | $11,700 |
| 3 | $0 | $0 | $11,700 | $11,700 |
| 4 | $0 | $0 | $11,700 | $11,700 |
| 5 | $0 | $0 | $11,700 | $11,700 |
| 6+ | $0 | $0 | $408,700 | $408,700 |
| Total | $84,900 | $34,700 | $456,000 | $575,500 |
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.