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Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium

3033 Ridgetop Resort Way Unit 3-15

3033 Ridgetop Resort Way Unit 3-15

Pigeon Forge, TN 37863

$999,000

4 bd · 5.5 ba · 2,268 sqft · Listed 1d ago

View on Realtor.com →
Negative cash flow

Year built

2022

Sqft

2,268

Lot sqft

—

HOA / mo

$125

Furnished

No

List date

2026-10-16T19:41:48.000000Z

Revenue

Annual revenue

$84,642

ADR

$435

Occupancy

53%

Cleaning fees (12 mo)

$19,063

Confidence

High (75.85), 9 comps

Comp revenue range (p25 / median / p75)

$71,712$88,090$103,856

Median revenue of shown comps: $90,711

  • 1Mi to Town! New, Indr Pool, Hot Tub

    Cabin · 4 bd · 4.5 ba · sleeps 10 · 108 ft

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

    Revenue $71,563ADR $377Occ ≈ 52%4.8★ (141)

    AirbnbVrboBooking

  • Outdoor Spa|7 min to Doll|Game Rm|Hot tub|Sauna

    Cabin · 4 bd · 4.5 ba · sleeps 13 · 187 ft

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $88,090ADR $476Occ ≈ 51%4.9★ (61)

    AirbnbVrbo

  • Scenic Cabin Escape • Pool, Hot Tub & Billiards

    Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.5 mi

    Revenue $93,332ADR $524Occ ≈ 49%4.7★ (3)

    Delisted

  • Scenic Cabin Escape • Pool, Hot Tub & Billiards

    Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.5 mi

    Revenue $83,795ADR $468Occ ≈ 49%5★ (13)

    AirbnbBooking

  • Chill Inn - Indoor Pool, Hot Tub, Game Room

    Cabin · 4 bd · 4.5 ba · sleeps 10 · 0.5 mi

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

    Revenue $109,638ADR $383Occ ≈ 78%5★ (292)

    AirbnbVrbo

  • Indoor Pool Cabin Near Dollywood with Game Room

    Cabin · 4 bd · 5 ba · sleeps 13 · 0.6 mi

    Revenue $51,360ADR $822Occ ≈ 17%—

    Delisted

  • Relax Inn - Indoor Pool, Hot Tub, Game Room

    Cabin · 4 bd · 4.5 ba · sleeps 10 · 0.6 mi

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

    Revenue $103,856ADR $390Occ ≈ 73%5★ (298)

    AirbnbVrbo

  • Kids Only Fun Floor + Indoor Pool Near Dollywood

    Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.6 mi

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

    Revenue $119,214ADR $490Occ ≈ 67%4.9★ (308)

    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 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium

Est. revenue

$84,642

NOI

$45,154

Cash flow /mo

-$1,813

Cash needed

$312,710

Cash-on-cash

-7.0%

ROE (yr 1)

4.6%

Cap rate

4.5%

DSCR

0.67

Year-1 write-off

$264,631

Year-1 tax shield @ 32%

$84,682

Year-1 return on equity

  • Cash flow (annual)-$21,761
  • Principal paydown$6,075
  • Appreciation at%$29,970
ROE4.6%

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)$16,928
  • Platform fees (3% of revenue)$2,539
  • Maintenance / capex (5% of revenue)$4,232
  • Utilities & supplies$4,200
  • HOA$1,500
  • Property tax$4,094
  • Insurance (STR-rated)$5,994

Cash needed to close

  • Down payment (25%)$249,750
  • Closing costs (4.0%)$39,960
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$84,682

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

$975,000

Short-life (5/15-yr)

$241,000 · 25%

Year-1 deduction

$265,000

Year-1 tax shield @ 32%

$85,000

Land 2% (county tax record, market value split) · building $734,000 over 39 years · new furniture $23,000

Based on: 2,268 sq ft, built 2022, 4 bd / 5.5 ba, unfurnished, listing features (hot tub, deck, fireplace, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $162,000 in year 1 (14% short-life, $52,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$164,400

  • Kitchen cabinetsdefault

    $10,800 new × 84% good × 2.45 allocation

    $22,200

  • Kitchen countertopsdefault

    $8,800 new × 84% good × 2.45 allocation

    $18,200

  • Decorative trimdefault

    $4,000 new × 84% good × 2.45 allocation

    $8,200

  • Mirrorsdefault

    $800 new × 67% good × 2.45 allocation

    $1,200

  • Shelvingdefault

    $1,500 new × 84% good × 2.45 allocation

    $3,100

  • Window coverings (23)default

    $5,800 new × 60% good × 2.45 allocation

    $8,500

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

    $14,600 new × 67% good × 2.45 allocation

    $23,900

  • Kitchen & laundry equipment plumbingdefault

    $8,400 new × 92% good × 2.45 allocation

    $18,900

  • Kitchen, laundry & data equipment electricaldefault

    $5,100 new × 92% good × 2.45 allocation

    $11,400

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

    $7,700 new × 67% good × 2.45 allocation

    $12,600

  • Hot tub (freestanding)listing

    $9,000 new × 60% good × 2.45 allocation

    $13,200

  • Furniture bought newlisting

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

    $23,000
15-year land improvements$99,500

  • Paving: driveway & walks (paved)listing

    $9,900 new × 84% good × 2.45 allocation

    $20,300

  • Landscaping (typical)default

    $9,500 new × 84% good × 2.45 allocation

    $19,600

  • Patiosdefault

    $2,200 new × 84% good × 2.45 allocation

    $4,600

  • Decks & porches (attached)listing

    $25,500 new × 80% good × 2.45 allocation

    $50,100

  • Site lightinglisting

    $2,500 new × 80% good × 2.45 allocation

    $4,900
Building, 39-year$734,100

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

    $245,600 new × 93% good × 2.45 allocation

    $562,200

  • Building plumbing & fixturesdefault

    $25,500 new × 92% good × 2.45 allocation

    $57,600

  • Building electrical & lightingdefault

    $26,000 new × 92% good × 2.45 allocation

    $58,700

  • HVACdefault

    $25,600 new × 80% good × 2.45 allocation

    $50,100

  • Fireplacelisting

    $2,600 new × 84% good × 2.45 allocation

    $5,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$164,400$99,500$800$264,600
2$0$0$18,800$18,800
3$0$0$18,800$18,800
4$0$0$18,800$18,800
5$0$0$18,800$18,800
6+$0$0$658,000$658,000
Total$164,400$99,500$734,100$997,900

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.