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Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium

136 Sunset Dr

136 Sunset Dr

Pigeon Forge, TN 37863

$349,000

3 bd · 2 ba · 2,036 sqft · Listed 1d ago

View on Realtor.com →
Negative cash flow

Year built

1977

Sqft

2,036

Lot sqft

44,867

HOA / mo

$0

Furnished

No

List date

2026-10-14T22:51:25.000000Z

Revenue

Annual revenue

$40,915

ADR

$227

Occupancy

49%

Cleaning fees (12 mo)

$6,557

Confidence

Med (53.96), 49 comps

Comp revenue range (p25 / median / p75)

$27,785$35,704$48,522

Median revenue of shown comps: $34,978

  • Car Show Property with Garage!

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 0.1 mi

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $40,772ADR $283Occ ≈ 39%4.8★ (4)

    AirbnbVrbo

  • Spacious 3 Bd 2 Ba Condo On The Parkway

    Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 0.2 mi

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

    Revenue $52,038ADR $378Occ ≈ 38%5★ (200)

    AirbnbVrbo

  • Mountain View 1306 is a luxurious three-bedroom condo in the Mountains

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.2 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +1

    Revenue $58,384ADR $344Occ ≈ 46%—

    Vrbo

  • Mountain View Condo 1306

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.2 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +2

    Revenue $28,772ADR $256Occ ≈ 31%—

    AirbnbBooking

  • Spacious 3BDR Pigeon Forge Condo w/ 2 Pools

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $52,680ADR $221Occ ≈ 65%4.9★ (144)

    AirbnbVrbo

  • Vacation Destination: Where Your Getaway Begins

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.2 mi

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $48,313ADR $284Occ ≈ 47%4★ (30)

    AirbnbVrbo

  • Beautiful first floor Luxury condo, great view, close to everything

    Condominium (condo) · 3 bd · 2 ba · sleeps 7 · 0.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $44,458ADR $253Occ ≈ 48%4.9★ (134)

    Vrbo

  • Luxury Designer 3/2 Condo! Come Relax & Unwind, and Enjoy!!!

    Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 0.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $25,202ADR $257Occ ≈ 27%4.9★ (165)

    Vrbo

  • Abundantly Blessed Mountain View 3604

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $36,352ADR $256Occ ≈ 39%5★ (1)

    Booking

  • Cottage, Hot Tub, Deck, Fire Pit, BBQ, Dollywood

    House · 3 bd · 2 ba · sleeps 8 · 0.3 mi

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

    Revenue $55,557ADR $280Occ ≈ 54%4.9★ (123)

    AirbnbVrboBooking

Show 38 more
  • Rachel's Mountain Blessing w/ Hot tub, Pool, &View

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $71,728ADR $326Occ ≈ 60%4.8★ (388)

    AirbnbVrbo

  • Large Pigeon Forge Condo. 3BDR 2BA W/ 2 Pools

    House · 3 bd · 2 ba · sleeps 10 · 0.3 mi

    Revenue $50,477ADR $228Occ ≈ 61%4.8★ (206)

    AirbnbVrbo

  • Cozy Cottage | Sleeps 6 | Deck & firepit | Smokies

    Tiny house · 3 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $21,633ADR $254Occ ≈ 23%5★ (1)

    Airbnb

  • Unit 2307 - Mountain View Condos

    Condominium (condo) · 3 bd · 2.5 ba · sleeps 8 · 0.3 mi

    Revenue $27,729ADR $199Occ ≈ 38%4★ (68)

    AirbnbVrboBooking

  • Beautiful Smoky Mountain condo in #1 rated complex with new indoor pool

    Condominium (condo) · 3 bd · 2 ba · sleeps 9 · 0.3 mi

    Revenue $33,253ADR $228Occ ≈ 40%4.9★ (164)

    Vrbo

  • Fall Fun in Pigeon Forge | Pools & Dinner Shows

    Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 0.3 mi

    Revenue $28,793ADR $214Occ ≈ 37%4.4★ (149)

    AirbnbVrbo

  • Updated Pigeon Forge Condo. 3BDR 2BA W/ 2 Pools

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $654ADR $163Occ ≈ 1%5★ (1)

    AirbnbVrbo

  • Laura's Mountain Blessing w/ Hot tub, Pool, &View

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $67,704ADR $319Occ ≈ 58%4.8★ (502)

    AirbnbVrbo

  • Mountain View Zodiac - Unit 3201 - MVC

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $7,069ADR $392Occ ≈ 5%4.3★ (31)

    Airbnb

  • Riverfront cabin | Sleeps 7 | Loft & bunks

    Tiny house · 3 bd · 1 ba · sleeps 7 · 0.3 mi

    Revenue $22,188ADR $247Occ ≈ 25%5★ (1)

    Airbnb

  • Sleeps 7 | Loft & bunks | Pool | Near Dollywood

    Tiny house · 3 bd · 1 ba · sleeps 7 · 0.3 mi

    Revenue $27,954ADR $233Occ ≈ 33%4.7★ (7)

    Airbnb

  • Down Home | Riverfront | Sleeps 7 | Smokies

    Tiny house · 3 bd · 1 ba · sleeps 7 · 0.3 mi

    Revenue $28,988ADR $231Occ ≈ 34%5★ (3)

    Airbnb

  • Tiny home in Sevierville with a fenced yard

    Tiny house · 3 bd · 1 ba · sleeps 7 · 0.3 mi

    Revenue $452ADR $226Occ ≈ 1%—

    Airbnb

  • Riverfront cabin | Sleeps 6 | Loft & bunks

    Tiny house · 3 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $25,449ADR $244Occ ≈ 29%5★ (3)

    Airbnb

  • River Haven | Riverfront | Sleeps 7 | Smokies

    Tiny house · 3 bd · 1 ba · sleeps 7 · 0.3 mi

    Revenue $31,876ADR $240Occ ≈ 36%5★ (2)

    Airbnb

  • Riverfront cabin | Sleeps 6 | Bunks & loft

    Tiny house · 3 bd · 1 ba · sleeps 6 · 0.3 mi

    Revenue $30,969ADR $237Occ ≈ 36%5★ (5)

    Airbnb

  • Unit 2507 - Mountain View Condos

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $34,795ADR $187Occ ≈ 51%4.1★ (147)

    AirbnbVrboBooking

  • Happy Place - Unit 3207 - Mountain View Condos

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $34,900ADR $206Occ ≈ 46%4.7★ (185)

    AirbnbVrboBooking

  • Sweet Butterfly - Unit 1601 - Mountain View Condos

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $34,446ADR $210Occ ≈ 45%4.5★ (102)

    AirbnbVrboBooking

  • 2 min to PigeonForge Strp_AFFordable_Cute cottage

    House · 3 bd · 3 ba · sleeps 6 · 0.4 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +4

    Revenue $51,625ADR $211Occ ≈ 67%5★ (340)

    AirbnbVrbo

  • A Painter’s Retreat

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $44,725ADR $194Occ ≈ 63%4.8★ (346)

    AirbnbVrbo

  • 2601 - Mountain View Pigeon Forge Condo

    House · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $48,385ADR $198Occ ≈ 67%4.8★ (331)

    AirbnbVrbo

  • 2301 Large three Bedroom on Pigeon Forge Parkway

    Apartment · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $2,520ADR $180Occ ≈ 4%5★ (6)

    AirbnbVrbo

  • Spacious Mountain Condo in the Middle of Pigeon Forge

    Apartment · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $61,685ADR $297Occ ≈ 57%3.8★ (2)

    Booking

  • New SS Appliances! New fireplace, wood flooring & Samsung smart TVs.

    Condominium (condo) · 3 bd · 2 ba · sleeps 10 · 0.4 mi

    Revenue $17,473ADR $314Occ ≈ 15%5★ (117)

    Vrbo

  • 1BR2 bath log cabin sleeps 6- walk to Titanic Museum and 5 miles from Dollywood!

    Chalet · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $27,632ADR $179Occ ≈ 42%4.7★ (5)

    Booking

  • 1BR log cabin sleeps 6- walking distance to Wonderworks and 5 miles to Dollywood!

    Chalet · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $26,530ADR $152Occ ≈ 48%4.8★ (2)

    Booking

  • Whisper Leaf | Resort Amenities | POOLS + Hot Tub!

    Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $22,445ADR $232Occ ≈ 27%4.8★ (16)

    AirbnbVrboBooking

  • Pigeon Forge Vacation Rental with Private Hot Tub!

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $35,056ADR $152Occ ≈ 63%4.3★ (35)

    Booking

  • Majestic Bear Retreat

    Chalet · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $31,859ADR $217Occ ≈ 40%—

    Booking

  • Free Attraction Tickets - Smoky Mountain Views

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $48,568ADR $254Occ ≈ 52%4.8★ (91)

    AirbnbVrbo

  • MVC - Unit 3507

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $38,901ADR $224Occ ≈ 48%4.7★ (35)

    AirbnbBooking

  • Reed’s Hideway !!!! Come stay in our beautiful condo in Pigeon Forge

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $49,896ADR $236Occ ≈ 58%4.7★ (45)

    Vrbo

  • Updated 3BR/2BA Condo right off the parkway!

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $43,871ADR $239Occ ≈ 50%5★ (196)

    AirbnbVrbo

  • Sweet Wilderness -Unit 3707 - Mountain View Condos

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $38,956ADR $228Occ ≈ 47%4.5★ (108)

    AirbnbVrboBooking

  • Riverfront Pigeon Forge Condo w/ Pool Access

    Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $43,351ADR $213Occ ≈ 56%5★ (35)

    AirbnbVrbo

  • Peaceful River/ Mountain Views/ Dollywood/ Pigeon

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    Revenue $41,621ADR $272Occ ≈ 42%5★ (141)

    AirbnbVrbo

  • 3BD 2BA 1MI to parkway | Hot Tub | Fire pit !

    House · 3 bd · 2 ba · sleeps 8 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $84,604ADR $296Occ ≈ 78%5★ (36)

    AirbnbVrboBooking

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 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium

Est. revenue

$40,915

NOI

$22,573

Cash flow /mo

-$67

Cash needed

$120,710

Cash-on-cash

-0.7%

ROE (yr 1)

9.8%

Cap rate

6.5%

DSCR

0.97

Year-1 write-off

$80,470

Year-1 tax shield @ 32%

$25,751

Year-1 return on equity

  • Cash flow (annual)-$804
  • Principal paydown$2,122
  • Appreciation at%$10,470
ROE9.8%

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)$8,183
  • Platform fees (3% of revenue)$1,227
  • Maintenance / capex (5% of revenue)$2,046
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$592
  • Insurance (STR-rated)$2,094

Cash needed to close

  • Down payment (25%)$87,250
  • Closing costs (4.0%)$13,960
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$25,751

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

$264,000

Short-life (5/15-yr)

$61,000 · 23%

Year-1 deduction

$80,000

Year-1 tax shield @ 32%

$26,000

Land 24% (county tax record, market value split) · building $203,000 over 39 years · new furniture $20,000

Based on: 2,036 sq ft, built 1977, 3 bd / 2 ba, unfurnished, listing features (flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $62,000 in year 1 (16% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$60,600
  • Kitchen cabinetsdefault

    $10,300 new × 40% good × 1.75 allocation

    $7,200
  • Kitchen countertopsdefault

    $8,400 new × 40% good × 1.75 allocation

    $5,900
  • Decorative trimdefault

    $3,600 new × 40% good × 1.75 allocation

    $2,500
  • Mirrorsdefault

    $300 new × 40% good × 1.75 allocation

    $200
  • Shelvingdefault

    $1,200 new × 40% good × 1.75 allocation

    $800
  • Window coverings (20)default

    $5,000 new × 40% good × 1.75 allocation

    $3,500
  • Carpet, vinyl & laminate (100% of floors)listing

    $13,100 new × 40% good × 1.75 allocation

    $9,200
  • Kitchen & laundry equipment plumbingdefault

    $8,000 new × 40% good × 1.75 allocation

    $5,600
  • Kitchen, laundry & data equipment electricaldefault

    $4,800 new × 40% good × 1.75 allocation

    $3,400
  • Appliances (range, refrigerator)listing

    $4,000 new × 40% good × 1.75 allocation

    $2,800
  • Furniture bought newlisting

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

    $19,500
15-year land improvements$19,600
  • Paving: driveway & walks (paved)default

    $9,400 new × 50% good × 1.75 allocation

    $8,200
  • Landscaping (typical)default

    $9,000 new × 50% good × 1.75 allocation

    $7,900
  • Patiosdefault

    $2,000 new × 50% good × 1.75 allocation

    $1,800
  • Decks & porches (attached)default

    $2,000 new × 50% good × 1.75 allocation

    $1,800
Building, 39-year$203,400
  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $221,000 new × 40% good × 1.75 allocation

    $155,000
  • Building plumbing & fixturesdefault

    $22,900 new × 40% good × 1.75 allocation

    $16,100
  • Building electrical & lightingdefault

    $23,100 new × 40% good × 1.75 allocation

    $16,200
  • HVACdefault

    $22,900 new × 40% good × 1.75 allocation

    $16,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$60,600$19,600$200$80,500
2$0$0$5,200$5,200
3$0$0$5,200$5,200
4$0$0$5,200$5,200
5$0$0$5,200$5,200
6+$0$0$182,300$182,300
Total$60,600$19,600$203,400$283,600

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.