1130 Ski View Dr Unit 315
Gatlinburg, TN 37738
$849,900
3 bd · 3 ba · 1,815 sqft · Listed 3d ago
View on Realtor.com →Year built
1983
Sqft
1,815
Lot sqft
—
HOA / mo
$507
Furnished
No
List date
2026-09-24T23:20:34Z
Revenue
Annual revenue
$44,298
ADR
$185
Occupancy
66%
Cleaning fees (12 mo)
$8,503
Confidence
Low (48.24), 45 comps
Comp revenue range (p25 / median / p75)
Big Sky by Avada Properties
3 bd · 3 ba · sleeps 9 · 3 ft
Revenue —ADR $180Occ ≈ —4.8★ (4)
—
Amazing MTN Views*2 KingSuites*3 miles Gatlinburg
3 bd · 3 ba · sleeps 9 · 141 ft
Revenue —ADR $223Occ ≈ —4.8★ (15)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Big Sky by Avada Properties | 3 bd · 3 ba · sleeps 9 | — | $180 | — | 4.8★ (4) | 3 ft | — |
Right beside pool!! | 3 bd · 2 ba · sleeps 8 | — | $195 | — | 4.8★ (204) | 13 ft | Vrbo |
*Stunning 3BD near Town! Mountain Views + Pool!* | 3 bd · 3 ba · sleeps 8 | — | $252 | — | 4.8★ (171) | 16 ft | AirbnbVrbo |
Misty Mountain by Beyond Expectations: w/ Views | 3 bd · 2 ba · sleeps 8 | — | $194 | — | 4.5★ (32) | 20 ft | AirbnbVrbo |
Windswept Condo | Your Cozy Gatlinburg Getaway | 3 bd · 2 ba · sleeps 7 | — | $194 | — | — | 62 ft | AirbnbVrbo |
Mtn and Ntn Park View Condo, Sleeps 8, Pool, Firep | 3 bd · 3 ba · sleeps 8 | — | $227 | — | 4.7★ (16) | 102 ft | AirbnbVrbo |
Majestic 3BD near TOWN! Mountain Views! POOL | 3 bd · 3 ba · sleeps 9 | — | $283 | — | 4.8★ (223) | 131 ft | AirbnbVrbo |
Amazing MTN Views*2 KingSuites*3 miles Gatlinburg | 3 bd · 3 ba · sleeps 9 | — | $223 | — | 4.8★ (15) | 141 ft | Airbnb |
3 Mi to GSMNP! Family Condo w/ Pool & Views | 3 bd · 2 ba · sleeps 6 | — | $226 | — | 4.5★ (16) | 141 ft | AirbnbVrbo |
2 King Suites*Close to Gatlinburg-3 mile drive! | 3 bd · 3 ba · sleeps 7 | — | $215 | — | 4.8★ (145) | 210 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
$44,298
NOI
$14,932
Cash flow /mo
-$3,335
Cash needed
$265,971
Cash-on-cash
-15.0%
ROE (yr 1)
-3.4%
Cap rate
1.8%
DSCR
0.27
Year-1 write-off
$168,707
Year-1 tax shield @ 32%
$53,986
Year-1 return on equity
- Cash flow (annual)-$40,026
- Principal paydown$5,562
- Appreciation at%$25,497
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$8,860
- Platform fees (3% of revenue)$1,329
- Maintenance / capex (5% of revenue)$2,215
- Utilities & supplies$4,200
- HOA$6,084
- Property tax$1,579
- Insurance (STR-rated)$5,099
Cash needed to close
- Down payment (25%)$212,475
- Closing costs (4.0%)$33,996
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$53,986
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
$781,000
Short-life (5/15-yr)
$147,000 · 19%
Year-1 deduction
$169,000
Year-1 tax shield @ 32%
$54,000
Land 8% (county tax record, market value split) · building $634,000 over 39 years · new furniture $20,000
Based on: 1,815 sq ft, built 1983, 3 bd / 3 ba, unfurnished, listing features (hot tub, deck, patio, fireplace, stone counters, flooring types, appliance list).
IRS-guide safe-harbor floor: $111,000 in year 1 (11% short-life, $35,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $23,100
Kitchen cabinetsdefault
$9,800 new × 40% good × 5.91 allocation
- $23,600
Kitchen countertops (stone)listing
$10,000 new × 40% good × 5.91 allocation
- $7,500
Decorative trimdefault
$3,200 new × 40% good × 5.91 allocation
- $1,100
Mirrorsdefault
$500 new × 40% good × 5.91 allocation
- $2,800
Shelvingdefault
$1,200 new × 40% good × 5.91 allocation
- $10,600
Window coverings (18)default
$4,500 new × 40% good × 5.91 allocation
- $9,200
Carpet, vinyl & laminate (33% of floors)listing
$3,900 new × 40% good × 5.91 allocation
- $18,000
Kitchen & laundry equipment plumbingdefault
$7,600 new × 40% good × 5.91 allocation
- $10,900
Kitchen, laundry & data equipment electricaldefault
$4,600 new × 40% good × 5.91 allocation
- $19,100
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 40% good × 5.91 allocation
- $21,300
Hot tub (freestanding)listing
$9,000 new × 40% good × 5.91 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $464,500
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$196,700 new × 40% good × 5.91 allocation
- $48,200
Building plumbing & fixturesdefault
$20,400 new × 40% good × 5.91 allocation
- $47,900
Building electrical & lightingdefault
$20,300 new × 40% good × 5.91 allocation
- $48,300
HVACdefault
$20,400 new × 40% good × 5.91 allocation
- $18,400
Hardwood & tile floorsdefault
$7,800 new × 40% good × 5.91 allocation
- $6,200
Fireplacelisting
$2,600 new × 40% good × 5.91 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $166,700 | $0 | $2,000 | $168,700 |
| 2 | $0 | $0 | $16,200 | $16,200 |
| 3 | $0 | $0 | $16,200 | $16,200 |
| 4 | $0 | $0 | $16,200 | $16,200 |
| 5 | $0 | $0 | $16,200 | $16,200 |
| 6+ | $0 | $0 | $566,600 | $566,600 |
| Total | $166,700 | $0 | $633,600 | $800,200 |
The building's share of the price ($781,000) is 5.9x our depreciated replacement cost of the home ($132,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
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.