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Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium

4206 Dellinger Hollow Rd

4206 Dellinger Hollow Rd

Pigeon Forge, TN 37863

$380,000

4 bd · 3 ba · 2,235 sqft · Listed 1d ago

View on Realtor.com →

Year built

1970

Sqft

2,235

Lot sqft

21,780

HOA / mo

None

Furnished

No

List date

2026-10-28T13:25:29.000000Z

Revenue

Annual revenue

$61,853

ADR

$327

Occupancy

52%

Cleaning fees (12 mo)

$11,247

Confidence

Low (51.28), 25 comps

Comp revenue range (p25 / median / p75)

$45,244$65,285$94,917

Median revenue of shown comps: $64,320

  • Pigeon Forge Mountain Ranch!

    House · 4 bd · 2 ba · sleeps 12 · 161 ft

    Revenue $25,116ADR $292Occ ≈ 24%5★ (2)

    AirbnbBooking

  • Hidden Ranch

    House · 4 bd · 2 ba · sleeps 12 · 0.1 mi

    Revenue $13,619ADR $257Occ ≈ 15%4.3★ (13)

    Delisted

  • Secluded|5 Min to Twn|Game Rm|Kid-Friendly Escape

    Cabin · 4 bd · 3.5 ba · sleeps 12 · 0.4 mi

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

    Revenue $147,605ADR $480Occ ≈ 84%5★ (238)

    AirbnbVrbo

  • Mountain View Cabin w/ Hot Tub, Theater & Pool

    Cabin · 4 bd · 3 ba · sleeps 11 · 0.4 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $105,048ADR $411Occ ≈ 70%5★ (3)

    Vrbo

  • Views&Location•Boccee Ball•HotTub•FirePit•puttputt

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.5 mi

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

    Revenue $115,662ADR $447Occ ≈ 71%4.8★ (143)

    AirbnbVrbo

  • Mountain View Cabin w/ Hot Tub, Theater & Pool

    Cabin · 4 bd · 3 ba · sleeps 11 · 0.5 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $86,374ADR $374Occ ≈ 63%4.9★ (34)

    AirbnbVrboBooking

  • Location-Hot tub-Theatre Room-recently updated

    Cabin · 4 bd · 3 ba · sleeps 11 · 0.5 mi

    Revenue $65,285ADR $453Occ ≈ 39%5★ (2)

    Airbnb

  • SmokyMtnViews • Hot Tub • FirePit • Near Dollywood

    Cabin · 4 bd · 2.5 ba · sleeps 10 · 0.6 mi

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

    Revenue $29,501ADR $372Occ ≈ 22%4.8★ (96)

    AirbnbVrbo

  • Contentment - Mountain Views, Pool Table, Hot Tub

    Chalet · 4 bd · 3 ba · sleeps 10 · 0.6 mi

    Revenue $71,260ADR $384Occ ≈ 51%4.5★ (33)

    Airbnb

  • Beavers Mountaintop Retreat - Private Pool, Theater Room, Pool Table, + Outdoor Hot Tub

    Vacation home · 4 bd · 3 ba · sleeps 12 · 0.7 mi

    Revenue $83,840ADR $385Occ ≈ 60%—

    Booking

Show 6 more

  • White Pine Lodge - Peaceful views + a hot tub!

    Cabin · 4 bd · 4 ba · sleeps 12 · 0.7 mi

    Revenue $80,177ADR $398Occ ≈ 55%3.9★ (13)

    AirbnbBooking

  • Peaceful 4BR Mountainview, Free Attraction Tickets

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.7 mi

    Revenue $32,334ADR $410Occ ≈ 22%4.5★ (135)

    AirbnbBooking

  • Luxury Smokey Mountain Cabin

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.7 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +7

    Revenue $63,355ADR $269Occ ≈ 65%4.6★ (379)

    Vrbo

  • Peaceful cabin in a gated community & private hot

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.7 mi

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

    Revenue $62,169ADR $331Occ ≈ 51%4.3★ (17)

    AirbnbVrboBooking

  • New! Mtn. Views | Theater | Fire Pit | 3 Kings

    Cabin · 4 bd · 3 ba · sleeps 11 · 0.7 mi

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

    Revenue $45,244ADR $488Occ ≈ 25%5★ (12)

    Airbnb

  • Turkey Knob

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.7 mi

    Revenue $49,160ADR $550Occ ≈ 24%5★ (24)

    AirbnbBooking

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 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium

Est. revenue

$61,853

NOI

$37,505

Cash flow /mo

$1,020

Cash needed

$139,200

Cash-on-cash

8.8%

ROE (yr 1)

18.7%

Cap rate

9.9%

DSCR

1.48

Year-1 write-off

$106,144

Year-1 tax shield @ 32%

$33,966

Year-1 return on equity

  • Cash flow (annual)$12,243
  • Principal paydown$2,348
  • Appreciation at%$11,400
ROE18.7%

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)$12,371
  • Platform fees (3% of revenue)$1,856
  • Maintenance / capex (5% of revenue)$3,093
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$549
  • Insurance (STR-rated)$2,280

Cash needed to close

  • Down payment (25%)$95,000
  • Closing costs (4.0%)$15,200
  • Furnishing (bought new)$29,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$33,966

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

$309,000

Short-life (5/15-yr)

$77,000 · 25%

Year-1 deduction

$106,000

Year-1 tax shield @ 32%

$34,000

Land 19% (county tax record, market value split) · building $232,000 over 39 years · new furniture $29,000

Based on: 2,235 sq ft, built 1970, 4 bd / 3 ba, unfurnished, listing features (patio, fence, game room, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $87,000 in year 1 (19% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$73,600

  • Kitchen cabinetsdefault

    $10,700 new × 40% good × 1.73 allocation

    $7,400

  • Kitchen countertopsdefault

    $8,800 new × 40% good × 1.73 allocation

    $6,000

  • Decorative trimdefault

    $3,900 new × 40% good × 1.73 allocation

    $2,700

  • Mirrorsdefault

    $500 new × 40% good × 1.73 allocation

    $300

  • Shelvingdefault

    $1,500 new × 40% good × 1.73 allocation

    $1,000

  • Window coverings (22)default

    $5,500 new × 40% good × 1.73 allocation

    $3,800

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

    $14,400 new × 40% good × 1.73 allocation

    $9,900

  • Kitchen & laundry equipment plumbingdefault

    $8,300 new × 40% good × 1.73 allocation

    $5,700

  • Kitchen, laundry & data equipment electricaldefault

    $5,000 new × 40% good × 1.73 allocation

    $3,500

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

    $6,000 new × 40% good × 1.73 allocation

    $4,100

  • Furniture bought newlisting

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

    $23,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$32,300

  • Paving: driveway & walks (paved)default

    $9,800 new × 50% good × 1.73 allocation

    $8,500

  • Landscaping (typical)default

    $9,400 new × 50% good × 1.73 allocation

    $8,100

  • Patioslisting

    $10,100 new × 50% good × 1.73 allocation

    $8,700

  • Decks & porches (attached)default

    $2,200 new × 50% good × 1.73 allocation

    $1,900

  • Fencinglisting

    $6,000 new × 50% good × 1.73 allocation

    $5,200
Building, 39-year$231,800

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

    $242,300 new × 40% good × 1.73 allocation

    $167,200

  • Building plumbing & fixturesdefault

    $25,200 new × 40% good × 1.73 allocation

    $17,400

  • Building electrical & lightingdefault

    $25,600 new × 40% good × 1.73 allocation

    $17,700

  • HVACdefault

    $25,200 new × 40% good × 1.73 allocation

    $17,400

  • Fireplacelisting

    $2,600 new × 40% good × 1.73 allocation

    $1,800

  • Septic systemlisting

    $12,000 new × 50% good × 1.73 allocation

    $10,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$73,600$32,300$200$106,100
2$0$0$5,900$5,900
3$0$0$5,900$5,900
4$0$0$5,900$5,900
5$0$0$5,900$5,900
6+$0$0$207,800$207,800
Total$73,600$32,300$231,800$337,700

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.