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Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

2932 Fiddlers Creek Way

2932 Fiddlers Creek Way

Pigeon Forge, TN 37863

$950,000

5 bd · 5 ba · 2,505 sqft · Listed 1d ago

View on Realtor.com →
Negative cash flow

Year built

2021

Sqft

2,505

Lot sqft

—

HOA / mo

$100

Furnished

No

List date

2026-09-30T15:54:14.000000Z

Revenue

Annual revenue

$95,920

ADR

$466

Occupancy

56%

Cleaning fees (12 mo)

$16,593

Confidence

Med (58.92), 50 comps

Comp revenue range (p25 / median / p75)

$63,911$83,484$109,112
  • Mountain High | Spacious+Hot Tub+Game Room+More!

    Cabin · 5 bd · 5 ba · sleeps 12 · 72 ft

    Revenue $11,800ADR $463Occ ≈ 7%5★ (3)

    AirbnbVrboBooking

  • NEW BUILD/Large 2800sqft/4 Kings/HotTub/Game Rm

    Cabin · 5 bd · 5 ba · sleeps 15 · 210 ft

    Revenue $129,310ADR $458Occ ≈ 77%4.9★ (122)

    AirbnbVrbo

  • New! 5BR cabin w/Hot Tub*Theater*Arcade*Fireplace

    Cabin · 5 bd · 5 ba · sleeps 16 · 226 ft

    Revenue $69,181ADR $565Occ ≈ 34%5★ (17)

    AirbnbVrbo

  • 1 Mile to Parkway ~ Hot Tub, Pool Table & Theater!

    Cabin · 5 bd · 5 ba · sleeps 16 · 249 ft

    Revenue $123,201ADR $502Occ ≈ 67%5★ (66)

    AirbnbVrboBooking

  • Family 5BR Cabin | Hot Tub | Near Parkway

    Cabin · 5 bd · 5 ba · sleeps 12 · 262 ft

    Revenue $34,541ADR $412Occ ≈ 23%4.9★ (22)

    AirbnbVrboBooking

  • Downtown Spacious Wooden Cabin Location,View,Peace

    Cabin · 5 bd · 5 ba · sleeps 16 · 285 ft

    Revenue $112,497ADR $359Occ ≈ 86%4.8★ (60)

    AirbnbVrbo

  • 2 Mi to Parkway W/ GameRoom BBQ HotTub Theatre

    Cabin · 5 bd · 5 ba · sleeps 15 · 289 ft

    Revenue $137,867ADR $463Occ ≈ 82%5★ (93)

    AirbnbVrbo

  • Discounted! 5BR Retreat w/ Theater & Hot Tub

    House · 5 bd · 5 ba · sleeps 12 · 312 ft

    Revenue $94,419ADR $493Occ ≈ 52%4.8★ (31)

    AirbnbVrbo

  • Spacious 2800 sq ft-Cozy Wood Cabin-NEW BUILD

    Cabin · 5 bd · 5 ba · sleeps 16 · 338 ft

    Revenue $120,273ADR $410Occ ≈ 80%4.8★ (105)

    AirbnbVrboBooking

  • 2600 SQ FT-Downtown! 5BR-5BH-Hottub-Pool Tble

    Cabin · 5 bd · 5 ba · sleeps 16 · 351 ft

    Revenue $127,888ADR $441Occ ≈ 79%4.8★ (155)

    AirbnbVrboBooking

Show all 50 comps
  • 5BR Cabin Near Parkway | Views, Hot Tub, Theater

    Cabin · 5 bd · 5 ba · sleeps 16 · 367 ft

    Revenue $52,663ADR $575Occ ≈ 25%5★ (37)

    AirbnbVrbo

  • Pigeon Forge - Close to Parkway - Family Fun

    Cabin · 5 bd · 5 ba · sleeps 16 · 476 ft

    Revenue $78,809ADR $524Occ ≈ 41%4.8★ (19)

    AirbnbVrbo

  • Spacious 5BR Retreat with Theater and Hot Tub

    Vacation home · 5 bd · 5 ba · sleeps 12 · 495 ft

    Revenue $115,111ADR $535Occ ≈ 59%4.9★ (4)

    Booking

  • Fiddler’s Friend・Hot Tub・Theater・Game Room

    Cabin · 5 bd · 5 ba · sleeps 14 · 518 ft

    Revenue $30,124ADR $553Occ ≈ 15%3.6★ (3)

    AirbnbVrbo

  • Everlys Splash by American Patriot Getaways

    Vacation home · 5 bd · 4 ba · sleeps 14 · 0.1 mi

    Revenue $161,058ADR $641Occ ≈ 69%5★ (1)

    Booking

  • 5 BDRM, close 2 Dollywood, Arcade, Games, Hot tub!

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.1 mi

    Revenue $15,977ADR $524Occ ≈ 8%—

    VrboBooking

  • Pine Mountain Retreat- close to town, must see!

    Cabin · 5 bd · 5 ba · sleeps 13 · 0.1 mi

    Revenue $92,410ADR $491Occ ≈ 52%4.7★ (29)

    AirbnbVrbo

  • Mountain High in Pigeon Forge

    Cabin · 5 bd · 5 ba · sleeps 12 · 0.1 mi

    Revenue $95,277ADR $453Occ ≈ 58%5★ (34)

    Airbnb

  • 5BD prime PF: 2 HotTub| Arcade| Theater |PoolTable

    Cabin · 5 bd · 5 ba · sleeps 15 · 0.1 mi

    Revenue $70,530ADR $438Occ ≈ 44%4.8★ (57)

    AirbnbVrboBooking

  • Luxe 5BR Cabin | Hot Tub, Theater & Game Room

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.1 mi

    Revenue $43,199ADR $587Occ ≈ 20%4.8★ (63)

    AirbnbVrbo

  • Minutes to Pigeon Forge! - Sleeps 14

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.1 mi

    Revenue $73,677ADR $512Occ ≈ 39%4.8★ (22)

    AirbnbVrbo

  • 5Bed/5Bath/Theater/Arcades/Hot Tub/1 Mile to Pkwy!

    Cabin · 5 bd · 5 ba · sleeps 14 · 0.1 mi

    Revenue $105,626ADR $597Occ ≈ 48%4.9★ (130)

    AirbnbVrbo

  • Best Location 5BR Sleeps 16

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.1 mi

    Revenue $108,041ADR $449Occ ≈ 66%5★ (175)

    AirbnbVrbo

  • Winter Ridge

    Chalet · 5 bd · 4 ba · sleeps 10 · 0.1 mi

    Revenue $106,909ADR $518Occ ≈ 57%3.9★ (5)

    Booking

  • 1 Mile to PF|3 Decks|Game Room|Theater|Pets|Baby

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.1 mi

    Revenue $113,783ADR $507Occ ≈ 61%5★ (69)

    AirbnbVrbo

  • Smoky Mtn Retreat | Sauna + Hot Tub + Game Room

    House · 5 bd · 5 ba · sleeps 12 · 0.2 mi

    Revenue $54,540ADR $525Occ ≈ 28%5★ (15)

    AirbnbVrboBooking

  • Best Pigeon Forge Cabin Rental ‘22 NEW 5 BR 5 BA❤️

    Cabin · 5 bd · 5 ba · sleeps 14 · 0.2 mi

    Revenue $64,550ADR $434Occ ≈ 41%5★ (84)

    AirbnbVrbo

  • "Fiddler's Friend" 5 Bedroom Cabin

    House · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $47,085ADR $370Occ ≈ 35%—

    Airbnb

  • Hillbilly Hideaway *Located Close to the Island

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $84,579ADR $575Occ ≈ 40%5★ (17)

    AirbnbVrbo

  • Spacious-2800sqft-Cabin in Downtwn-5br/5bt

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $63,698ADR $386Occ ≈ 45%4.8★ (130)

    AirbnbVrboBooking

  • Sleeps 16, Every Room Ensuite, Theater & Arcade

    House · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $103,072ADR $503Occ ≈ 56%4.9★ (84)

    AirbnbVrboBooking

  • NEW 2022 Luxry Cabin, 5BR, HotTub, Games, MovieT

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $65,775ADR $453Occ ≈ 40%4.7★ (92)

    AirbnbVrbo

  • Newly Built 5BD Lodge w/ Theater! Hot Tub + GAMES!

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $101,574ADR $480Occ ≈ 58%4.8★ (63)

    AirbnbVrbo

  • Downtown 2600sqft-5BD-Hottub-Theater-Pool Tble

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.2 mi

    Revenue $137,015ADR $443Occ ≈ 85%4.8★ (149)

    AirbnbVrboBooking

  • Remodeled Theater/Games/Hot Tub <2 Miles from PF

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.3 mi

    Revenue $38,501ADR $458Occ ≈ 23%5★ (14)

    AirbnbVrbo

  • Welcome to Mountaintop Manor, a spacious and

    Cabin · 5 bd · 5 ba · sleeps 12 · 0.4 mi

    Revenue $110,765ADR $674Occ ≈ 45%4.5★ (49)

    AirbnbVrboBooking

  • 1 Mi to Strip! Spacious/ Pool/ Games/ Hot Tub/ Pet

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.4 mi

    Revenue $74,928ADR $460Occ ≈ 45%4.8★ (101)

    AirbnbVrbo

  • Great Location! Close to all the action!

    Cabin · 5 bd · 4 ba · sleeps 14 · 0.4 mi

    Revenue $86,042ADR $476Occ ≈ 50%4.7★ (65)

    AirbnbVrboBooking

  • Smoky Mountain Getaway: Leave the World Behind

    Cabin · 5 bd · 5 ba · sleeps 10 · 0.4 mi

    Revenue $83,850ADR $566Occ ≈ 41%4.8★ (6)

    AirbnbVrbo

  • Smoky Mountain Getaway Leave the World Behind

    Chalet · 5 bd · 5 ba · sleeps 10 · 0.4 mi

    Revenue $78,021ADR $472Occ ≈ 45%—

    Booking

  • Less than a mile to Pigeon Forge! Home Theater!

    Cabin · 5 bd · 4 ba · sleeps 12 · 0.4 mi

    Revenue $83,117ADR $398Occ ≈ 57%4★ (16)

    AirbnbVrbo

  • Enchanted Memories, Hot Tub, FREE Attraction tickets, Theater Room, WIFI!!!

    Chalet · 5 bd · 4 ba · sleeps 12 · 0.4 mi

    Revenue $95,093ADR $422Occ ≈ 62%2.2★ (2)

    Booking

  • ER92- 5bd Great location! Close to all the action!

    Cabin · 5 bd · 4 ba · sleeps 14 · 0.4 mi

    Revenue $78,774ADR $461Occ ≈ 47%3.8★ (32)

    AirbnbVrboBooking

  • Unbeatable location!!! 5 bed/5 bath Luxury Cabin!

    Cabin · 5 bd · 5 ba · sleeps 12 · 0.5 mi

    Revenue $50,012ADR $676Occ ≈ 20%4.5★ (2)

    Vrbo

  • License To Chill | Inside Pigeon Forge City Limits

    Cabin · 5 bd · 5 ba · sleeps 14 · 0.5 mi

    Revenue $65,129ADR $472Occ ≈ 38%4.5★ (35)

    AirbnbVrboBooking

  • Charming Cabin in Pigeon Forge, For Unforgettable Group Glamping Escapes to Tennessee

    Cabin · 5 bd · 4 ba · sleeps 14 · 0.5 mi

    Revenue $17,473ADR $654Occ ≈ 7%—

    VrboBooking

  • 5 BR 4BA 1 Mi to Parkway Pool Table & Hot Tub

    Cabin · 5 bd · 4 ba · sleeps 16 · 0.5 mi

    Revenue $72,351ADR $498Occ ≈ 40%4.2★ (31)

    AirbnbVrboBooking

  • Indoor Pool Cabin | Game Room | Near Parkway | 18

    Cabin · 5 bd · 5 ba · sleeps 16 · 0.5 mi

    Revenue $112,508ADR $652Occ ≈ 47%4.9★ (69)

    AirbnbVrbo

  • 5BR 5BA 1 MI to Parkway Pool Table Access to Pool

    Cabin · 5 bd · 5 ba · sleeps 14 · 0.5 mi

    Revenue $109,469ADR $507Occ ≈ 59%4.8★ (36)

    AirbnbVrboBooking

  • EZ Access*5BD*EZ Roads*HotTub*1.5m to Pwy & Island

    Cabin · 5 bd · 4 ba · sleeps 12 · 0.5 mi

    Revenue $51,149ADR $368Occ ≈ 38%5★ (128)

    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 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$95,920

NOI

$54,237

Cash flow /mo

-$599

Cash needed

$302,000

Cash-on-cash

-2.4%

ROE (yr 1)

9.1%

Cap rate

5.7%

DSCR

0.88

Year-1 write-off

$227,185

Year-1 tax shield @ 32%

$72,699

Year-1 return on equity

  • Cash flow (annual)-$7,193
  • Principal paydown$6,217
  • Appreciation at%$28,500
ROE9.1%

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)$19,184
  • Platform fees (3% of revenue)$2,878
  • Maintenance / capex (5% of revenue)$4,796
  • Utilities & supplies$4,200
  • HOA$1,200
  • Property tax$3,725
  • Insurance (STR-rated)$5,700

Cash needed to close

  • Down payment (25%)$237,500
  • Closing costs (4.0%)$38,000
  • Furnishing (bought new)$26,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$72,699

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

$891,000

Short-life (5/15-yr)

$198,000 · 22%

Year-1 deduction

$227,000

Year-1 tax shield @ 32%

$73,000

Land 6% (county tax record, market value split) · building $693,000 over 39 years · new furniture $27,000

Based on: 2,505 sq ft, built 2021, 5 bd / 5 ba, unfurnished, listing features (hot tub, deck, patio, fireplace, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $138,000 in year 1 (12% short-life, $44,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$128,400
  • Kitchen cabinetsdefault

    $11,300 new × 80% good × 2.08 allocation

    $18,800
  • Kitchen countertopsdefault

    $9,200 new × 80% good × 2.08 allocation

    $15,400
  • Decorative trimdefault

    $4,400 new × 80% good × 2.08 allocation

    $7,300
  • Mirrorsdefault

    $800 new × 58% good × 2.08 allocation

    $900
  • Shelvingdefault

    $1,800 new × 80% good × 2.08 allocation

    $3,000
  • Window coverings (25)default

    $6,300 new × 50% good × 2.08 allocation

    $6,500
  • Carpet, vinyl & laminate (25% of floors)listing

    $4,000 new × 58% good × 2.08 allocation

    $4,900
  • Kitchen & laundry equipment plumbingdefault

    $8,800 new × 90% good × 2.08 allocation

    $16,400
  • Kitchen, laundry & data equipment electricaldefault

    $5,300 new × 90% good × 2.08 allocation

    $9,900
  • Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing

    $7,700 new × 58% good × 2.08 allocation

    $9,300
  • Hot tub (freestanding)listing

    $9,000 new × 50% good × 2.08 allocation

    $9,400
  • Furniture bought newlisting

    $26,500 new × 100% good · bought separately

    $26,500
15-year land improvements$96,600
  • Paving: driveway & walks (paved)default

    $10,400 new × 80% good × 2.08 allocation

    $17,300
  • Landscaping (typical)default

    $10,000 new × 80% good × 2.08 allocation

    $16,600
  • Patioslisting

    $11,300 new × 80% good × 2.08 allocation

    $18,800
  • Decks & porches (attached)listing

    $28,200 new × 75% good × 2.08 allocation

    $44,000
Building, 39-year$692,800
  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $271,200 new × 92% good × 2.08 allocation

    $517,100
  • Building plumbing & fixturesdefault

    $28,200 new × 90% good × 2.08 allocation

    $52,800
  • Building electrical & lightingdefault

    $29,000 new × 90% good × 2.08 allocation

    $54,300
  • HVACdefault

    $28,200 new × 75% good × 2.08 allocation

    $44,000
  • Hardwood & tile floorsdefault

    $12,100 new × 80% good × 2.08 allocation

    $20,100
  • Fireplacelisting

    $2,600 new × 80% good × 2.08 allocation

    $4,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$128,400$96,600$2,200$227,200
2$0$0$17,800$17,800
3$0$0$17,800$17,800
4$0$0$17,800$17,800
5$0$0$17,800$17,800
6+$0$0$619,500$619,500
Total$128,400$96,600$692,800$917,800

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.