855 Campbell Lead Rd Unit 305
Gatlinburg, TN 37738
$950,000
3 bd · 3.5 ba · 2,020 sqft · Listed 5d ago
View on Realtor.com →Year built
2024
Sqft
2,020
Lot sqft
436
HOA / mo
$875
Furnished
No
List date
2026-09-22T19:02:47Z
Revenue
Annual revenue
$71,459
ADR
$393
Occupancy
50%
Cleaning fees (12 mo)
$10,011
Confidence
Med (58.42), 50 comps
Comp revenue range (p25 / median / p75)
Modern top floor condo overlooking Gatlinburg & The Smokies!
3 bd · 3.5 ba · sleeps 8 · 69 ft
Revenue —ADR $350Occ ≈ —5★ (17)
NEW Luxury 3 BD Penthouse Condo with Breathtaking Mountain Views-2 Balconies
3 bd · 3.5 ba · sleeps 8 · 75 ft
Revenue —ADR $491Occ ≈ —5★ (9)
Highlands 3BR Escape • Plunge Tub • Views • Free Tix
3 bd · 3.5 ba · sleeps 8 · 154 ft
Revenue —ADR $360Occ ≈ —4.9★ (8)
Luxury Mtn View 3BR Condo + Tickets
3 bd · 3.5 ba · sleeps 8 · 161 ft
Revenue —ADR $367Occ ≈ —4.9★ (16)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Modern condo overlooking mtns | 3 bd · 3.5 ba · sleeps 8 | — | $365 | — | 5★ (23) | 52 ft | AirbnbVrbo |
Modern top floor condo overlooking Gatlinburg & The Smokies! | 3 bd · 3.5 ba · sleeps 8 | — | $350 | — | 5★ (17) | 69 ft | Vrbo |
NEW Luxury 3 BD Penthouse Condo with Breathtaking Mountain Views-2 Balconies | 3 bd · 3.5 ba · sleeps 8 | — | $491 | — | 5★ (9) | 75 ft | Vrbo |
NEW Luxury 3 BD Penthouse Condo with Breathtaking | 3 bd · 3.5 ba · sleeps 8 | — | $494 | — | 5★ (13) | 108 ft | AirbnbVrbo |
Panoramic Smoky Mountain Views | 3 bd · 3.5 ba · sleeps 8 | — | $389 | — | 4.9★ (32) | 148 ft | AirbnbVrbo |
Highlands 3BR Escape • Plunge Tub • Views • Free Tix | 3 bd · 3.5 ba · sleeps 8 | — | $360 | — | 4.9★ (8) | 154 ft | Vrbo |
Luxury Mtn View 3BR Condo + Tickets | 3 bd · 3.5 ba · sleeps 8 | — | $367 | — | 4.9★ (16) | 161 ft | Vrbo |
Stylish Modern 3 BR Condo + Views | 3 bd · 3.5 ba · sleeps 8 | — | $404 | — | 5★ (26) | 171 ft | AirbnbVrbo |
Must Do Gatlinburg Vacation| Sleeps 8-3BD|Mountain | 3 bd · 3.5 ba · sleeps 8 | — | $408 | — | 5★ (27) | 171 ft | AirbnbVrbo |
Gatlinburg 3 BD-Walk-in Shower-Plunge Tub-Outdoor | 3 bd · 3.5 ba · sleeps 8 | — | $406 | — | 4.9★ (24) | 171 ft | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$71,459
NOI
$27,162
Cash flow /mo
-$2,856
Cash needed
$295,000
Cash-on-cash
-11.6%
ROE (yr 1)
0.2%
Cap rate
2.9%
DSCR
0.44
Year-1 write-off
$133,922
Year-1 tax shield @ 32%
$42,855
Year-1 return on equity
- Cash flow (annual)-$34,268
- Principal paydown$6,217
- Appreciation at%$28,500
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$14,292
- Platform fees (3% of revenue)$2,144
- Maintenance / capex (5% of revenue)$3,573
- Utilities & supplies$4,200
- HOA$10,500
- Property tax$3,888
- Insurance (STR-rated)$5,700
Cash needed to close
- Down payment (25%)$237,500
- Closing costs (4.0%)$38,000
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$42,855
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
$809,000
Short-life (5/15-yr)
$112,000 · 14%
Year-1 deduction
$134,000
Year-1 tax shield @ 32%
$43,000
Land 15% (county tax record, market value split) · building $697,000 over 39 years · new furniture $20,000
Based on: 2,020 sq ft, built 2024, 3 bd / 3.5 ba, unfurnished, listing features (fireplace, stone counters, flooring types).
IRS-guide safe-harbor floor: $77,000 in year 1 (7% short-life, $25,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $22,600
Kitchen cabinetsdefault
$10,200 new × 92% good × 2.40 allocation
- $23,100
Kitchen countertops (stone)listing
$10,500 new × 92% good × 2.40 allocation
- $7,800
Decorative trimdefault
$3,500 new × 92% good × 2.40 allocation
- $900
Mirrorsdefault
$500 new × 83% good × 2.40 allocation
- $2,600
Shelvingdefault
$1,200 new × 92% good × 2.40 allocation
- $9,600
Window coverings (20)default
$5,000 new × 80% good × 2.40 allocation
- $18,300
Kitchen & laundry equipment plumbingdefault
$8,000 new × 96% good × 2.40 allocation
- $11,100
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 96% good × 2.40 allocation
- $16,200
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 83% good × 2.40 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $507,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$219,100 new × 97% good × 2.40 allocation
- $52,400
Building plumbing & fixturesdefault
$22,700 new × 96% good × 2.40 allocation
- $52,700
Building electrical & lightingdefault
$22,900 new × 96% good × 2.40 allocation
- $49,100
HVACdefault
$22,800 new × 90% good × 2.40 allocation
- $28,700
Hardwood & tile floorsdefault
$13,000 new × 92% good × 2.40 allocation
- $5,800
Fireplacelisting
$2,600 new × 92% good × 2.40 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $131,700 | $0 | $2,200 | $133,900 |
| 2 | $0 | $0 | $17,900 | $17,900 |
| 3 | $0 | $0 | $17,900 | $17,900 |
| 4 | $0 | $0 | $17,900 | $17,900 |
| 5 | $0 | $0 | $17,900 | $17,900 |
| 6+ | $0 | $0 | $622,900 | $622,900 |
| Total | $131,700 | $0 | $696,600 | $828,300 |
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: Georgia disallows 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.