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

2028 Myrtle Way Unit 3-11

Pigeon Forge, TN 37863

$1,100,000

4 bd · 4.5 ba · 2,373 sqft · Listed 1d ago

View on Realtor.com →

Est. land %Negative cash flow

Year built

2024

Sqft

2,373

Lot sqft

—

HOA / mo

$125

Furnished

List date

2026-10-16T19:41:48.000000Z

Revenue

Annual revenue

$84,629

ADR

$420

Occupancy

55%

Cleaning fees (12 mo)

$16,567

Confidence

Med (62.53), 25 comps

Comp revenue range (p25 / median / p75)

$71,563$88,090$101,479

Median revenue of shown comps: $82,823

1Mi to Town! New, Indr Pool, Hot Tub
Cabin · 4 bd · 4.5 ba · sleeps 10 · 108 ft
Revenue $71,563ADR $377Occ ≈ 52%4.8★ (141)
Airbnb Vrbo Booking
Outdoor Spa|7 min to Doll|Game Rm|Hot tub|Sauna
Cabin · 4 bd · 4.5 ba · sleeps 13 · 187 ft
Revenue $88,090ADR $476Occ ≈ 51%4.9★ (61)
Airbnb Vrbo
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)
Vrbo
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)
Airbnb Vrbo Booking
Paradise Splash
Cabin · 4 bd · 4 ba · sleeps 12 · 0.5 mi
Revenue $70,259ADR $625Occ ≈ 31%4.8★ (13)
Airbnb Vrbo Booking
Alpine Adventure by American Patriot Getaways
Vacation home · 4 bd · 4 ba · sleeps 12 · 0.5 mi
Revenue $146,757ADR $661Occ ≈ 61%—
Booking
Chill Inn - Indoor Pool, Hot Tub, Game Room
Cabin · 4 bd · 4.5 ba · sleeps 10 · 0.5 mi
Revenue $109,638ADR $383Occ ≈ 78%5★ (292)
Airbnb Vrbo
Only 1 mile to Pigeon Forge Parkway!
Cabin · 4 bd · 4 ba · sleeps 12 · 0.6 mi
Revenue $78,375ADR $499Occ ≈ 43%4.5★ (7)
Airbnb Vrbo
Luxury POOL Cabin IN TOWN! Hot Tub/Movie Room
Cabin · 4 bd · 4 ba · sleeps 10 · 0.6 mi
Revenue $79,313ADR $0Occ ≈ —4.8★ (186)
Airbnb Vrbo
Cub Creek by Avada Properties
Vacation home · 4 bd · 4 ba · sleeps 10 · 0.6 mi
Revenue $33,251ADR $0Occ ≈ —5★ (1)
Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
1Mi to Town! New, Indr Pool, Hot Tub Cabin	4 bd · 4.5 ba · sleeps 10	$71,563	$377	52%	4.8★ (141)	108 ft	Airbnb Vrbo Booking
Outdoor Spa\|7 min to Doll\|Game Rm\|Hot tub\|Sauna Cabin	4 bd · 4.5 ba · sleeps 13	$88,090	$476	51%	4.9★ (61)	187 ft	Airbnb Vrbo
Scenic Cabin Escape • Pool, Hot Tub & Billiards Cabin	4 bd · 4.5 ba · sleeps 12	$93,332	$524	49%	4.7★ (3)	0.5 mi	Vrbo
Scenic Cabin Escape • Pool, Hot Tub & Billiards Cabin	4 bd · 4.5 ba · sleeps 12	$83,795	$468	49%	5★ (13)	0.5 mi	Airbnb Vrbo Booking
Paradise Splash Cabin	4 bd · 4 ba · sleeps 12	$70,259	$625	31%	4.8★ (13)	0.5 mi	Airbnb Vrbo Booking
Alpine Adventure by American Patriot Getaways Vacation home	4 bd · 4 ba · sleeps 12	$146,757	$661	61%	—	0.5 mi	Booking
Chill Inn - Indoor Pool, Hot Tub, Game Room Cabin	4 bd · 4.5 ba · sleeps 10	$109,638	$383	78%	5★ (292)	0.5 mi	Airbnb Vrbo
Only 1 mile to Pigeon Forge Parkway! Cabin	4 bd · 4 ba · sleeps 12	$78,375	$499	43%	4.5★ (7)	0.6 mi	Airbnb Vrbo
Luxury POOL Cabin IN TOWN! Hot Tub/Movie Room Cabin	4 bd · 4 ba · sleeps 10	$79,313	$0	—	4.8★ (186)	0.6 mi	Airbnb Vrbo
Cub Creek by Avada Properties Vacation home	4 bd · 4 ba · sleeps 10	$33,251	$0	—	5★ (1)	0.6 mi	Booking

Show 10 more

Pigeon Forge 114 - Four Bedroom Villa, Sleeps 10
Villa · 4 bd · 4 ba · sleeps 10 · 0.6 mi
Revenue $17,975ADR $390Occ ≈ 13%—
Vrbo
Indoor Pool Cabin Near Dollywood with Game Room
Cabin · 4 bd · 5 ba · sleeps 13 · 0.6 mi
Revenue $51,360ADR $822Occ ≈ 17%—
Airbnb
Relax Inn - Indoor Pool, Hot Tub, Game Room
Cabin · 4 bd · 4.5 ba · sleeps 10 · 0.6 mi
Revenue $103,856ADR $390Occ ≈ 73%5★ (298)
Airbnb Vrbo
Kids Only Fun Floor + Indoor Pool Near Dollywood
Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.6 mi
Revenue $119,214ADR $490Occ ≈ 67%4.9★ (308)
Airbnb Vrbo
Upscale cabin- Indoor heated pool, Game Rm
Cabin · 4 bd · 4 ba · sleeps 12 · 0.7 mi
Revenue $98,814ADR $352Occ ≈ 77%4.7★ (216)
Airbnb Vrbo
Falling Leaf Hideaway, Hot Tub, Theater, Game Room
House · 4 bd · 4 ba · sleeps 12 · 0.7 mi
Revenue $101,479ADR $405Occ ≈ 69%4.5★ (21)
Airbnb Vrbo Booking
FREE Tickets-4 BD Slps 10-1 mile to Pigeon Forge
Cabin · 4 bd · 4 ba · sleeps 10 · 0.7 mi
Revenue $100,222ADR $405Occ ≈ 68%4.5★ (15)
Airbnb Vrbo Booking
Secluded Cabin Getaway | Hot Tub • Pool Table • 2
Cabin · 4 bd · 3.5 ba · sleeps 13 · 0.7 mi
Revenue $81,850ADR $387Occ ≈ 58%4.8★ (128)
Airbnb Vrbo Booking
Stunning Secluded Cabin with Hot-tub and Pool Table in Pigeon Forge, Tennessee
Cabin · 4 bd · 3.5 ba · sleeps 13 · 0.7 mi
Revenue $59,004ADR $552Occ ≈ 29%—
Vrbo
Soaring Eagle: Resort Pool, minutes to the Parkway
Cabin · 4 bd · 4 ba · sleeps 10 · 0.7 mi
Revenue $34,379ADR $533Occ ≈ 18%—
Airbnb Vrbo Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Pigeon Forge 114 - Four Bedroom Villa, Sleeps 10 Villa	4 bd · 4 ba · sleeps 10	$17,975	$390	13%	—	0.6 mi	Vrbo
Indoor Pool Cabin Near Dollywood with Game Room Cabin	4 bd · 5 ba · sleeps 13	$51,360	$822	17%	—	0.6 mi	Airbnb
Relax Inn - Indoor Pool, Hot Tub, Game Room Cabin	4 bd · 4.5 ba · sleeps 10	$103,856	$390	73%	5★ (298)	0.6 mi	Airbnb Vrbo
Kids Only Fun Floor + Indoor Pool Near Dollywood Cabin	4 bd · 4.5 ba · sleeps 12	$119,214	$490	67%	4.9★ (308)	0.6 mi	Airbnb Vrbo
Upscale cabin- Indoor heated pool, Game Rm Cabin	4 bd · 4 ba · sleeps 12	$98,814	$352	77%	4.7★ (216)	0.7 mi	Airbnb Vrbo
Falling Leaf Hideaway, Hot Tub, Theater, Game Room House	4 bd · 4 ba · sleeps 12	$101,479	$405	69%	4.5★ (21)	0.7 mi	Airbnb Vrbo Booking
FREE Tickets-4 BD Slps 10-1 mile to Pigeon Forge Cabin	4 bd · 4 ba · sleeps 10	$100,222	$405	68%	4.5★ (15)	0.7 mi	Airbnb Vrbo Booking
Secluded Cabin Getaway \| Hot Tub • Pool Table • 2 Cabin	4 bd · 3.5 ba · sleeps 13	$81,850	$387	58%	4.8★ (128)	0.7 mi	Airbnb Vrbo Booking
Stunning Secluded Cabin with Hot-tub and Pool Table in Pigeon Forge, Tennessee Cabin	4 bd · 3.5 ba · sleeps 13	$59,004	$552	29%	—	0.7 mi	Vrbo
Soaring Eagle: Resort Pool, minutes to the Parkway Cabin	4 bd · 4 ba · sleeps 10	$34,379	$533	18%	—	0.7 mi	Airbnb Vrbo Booking

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

Purchase priceDown payment %30-yr rate %Already furnishedTax bracketCount tax savings in returnsOnly if you can use the losses (STR loophole)

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

Est. revenue

$84,629

NOI

$44,736

Cash flow /mo

-$2,412

Cash needed

$342,000

Cash-on-cash

-8.5%

ROE (yr 1)

3.1%

Cap rate

4.1%

DSCR

0.61

Year-1 write-off

$272,658

Year-1 tax shield @ 32%

$87,251

Year-1 return on equity

Cash flow (annual)-$28,945
Principal paydown$6,689
Appreciation at%$33,000

ROE3.1%

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)$16,926
Platform fees (3% of revenue)$2,539
Maintenance / capex (5% of revenue)$4,231
Utilities & supplies$4,200
HOA$1,500
Property tax$3,897
Insurance (STR-rated)$6,600

Cash needed to close

Down payment (25%)$275,000
Closing costs (4.0%)$44,000
Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

Tax shield @ 32%$87,251

No county tax record split for property tax, insurance rate and the land/building split, so those use market defaults — edit the price above; 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

$935,000

Short-life (5/15-yr)

$249,000 · 27%

Year-1 deduction

$273,000

Year-1 tax shield @ 32%

$87,000

Land 15% (market default, no usable tax-record split) · building $686,000 over 39 years · new furniture $23,000

Based on: 2,373 sq ft, built 2024, 4 bd / 4.5 ba, unfurnished, listing features (hot tub, pool, deck, patio, fireplace, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $174,000 in year 1 (16% short-life, $56,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$150,500

Kitchen cabinetsdefault
$11,000 new × 92% good × 2.05 allocation
$20,800
Kitchen countertopsdefault
$9,000 new × 92% good × 2.05 allocation
$17,000
Decorative trimdefault
$4,200 new × 92% good × 2.05 allocation
$7,800
Mirrorsdefault
$600 new × 83% good × 2.05 allocation
$1,000
Shelvingdefault
$1,500 new × 92% good × 2.05 allocation
$2,800
Window coverings (24)default
$6,000 new × 80% good × 2.05 allocation
$9,900
Carpet, vinyl & laminate (50% of floors)listing
$7,600 new × 83% good × 2.05 allocation
$13,100
Kitchen & laundry equipment plumbingdefault
$8,600 new × 96% good × 2.05 allocation
$16,900
Kitchen, laundry & data equipment electricaldefault
$5,200 new × 96% good × 2.05 allocation
$10,200
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 83% good × 2.05 allocation
$13,200
Hot tub (freestanding)listing
$9,000 new × 80% good × 2.05 allocation
$14,800
Furniture bought newlisting
$23,000 new × 100% good · bought separately
$23,000

15-year land improvements$121,400

Paving: driveway & walks (paved)listing
$10,100 new × 92% good × 2.05 allocation
$19,100
Landscaping (typical)default
$9,700 new × 92% good × 2.05 allocation
$18,400
Patioslisting
$10,700 new × 92% good × 2.05 allocation
$20,200
Decks & porches (attached)listing
$26,700 new × 90% good × 2.05 allocation
$49,300
Pool (above-ground)listing
$6,000 new × 80% good × 2.05 allocation
$9,900
Site lightinglisting
$2,500 new × 90% good × 2.05 allocation
$4,600

Building, 39-year$686,100

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$257,200 new × 97% good × 2.05 allocation
$510,600
Building plumbing & fixturesdefault
$26,700 new × 96% good × 2.05 allocation
$52,700
Building electrical & lightingdefault
$27,400 new × 96% good × 2.05 allocation
$53,900
HVACdefault
$26,700 new × 90% good × 2.05 allocation
$49,400
Hardwood & tile floorsdefault
$7,600 new × 92% good × 2.05 allocation
$14,400
Fireplacelisting
$2,600 new × 92% good × 2.05 allocation
$5,000

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$150,500	$121,400	$700	$272,700
2	$0	$0	$17,600	$17,600
3	$0	$0	$17,600	$17,600
4	$0	$0	$17,600	$17,600
5	$0	$0	$17,600	$17,600
6+	$0	$0	$615,000	$615,000
Total	$150,500	$121,400	$686,100	$958,000

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.