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Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

4836 Highland Place Way

4836 Highland Place Way

Pigeon Forge, TN 37863

$885,000

2 bd · 3 ba · 1,897 sqft · Listed 1d ago

View on Realtor.com →
Est. land %Negative cash flow

Year built

2016

Sqft

1,897

Lot sqft

—

HOA / mo

$150

Furnished

No

List date

2026-10-05T14:52:12.000000Z

Revenue

Annual revenue

$60,336

ADR

$262

Occupancy

63%

Cleaning fees (12 mo)

$10,240

Confidence

Low (48.09), 50 comps

Comp revenue range (p25 / median / p75)

$29,821$51,369$65,205

Median revenue of shown comps: $53,050Checking amenities for 50 listings…

  • 2BR/2BA Great Location with a panoramic view!

    Cabin · 2 bd · 2 ba · sleeps 6 · 177 ft

    Revenue $112,077ADR $370Occ ≈ 83%4.8★ (121)

    AirbnbVrboBooking

  • Cabin Retreat with Jacuzzi, Pool Table and Pool in Pigeon Forge, Tennessee

    House · 2 bd · 2 ba · sleeps 6 · 200 ft

    Revenue $29,125ADR $580Occ ≈ 14%—

    VrboBooking

  • Solid Ground Lodge with Yard!

    Cabin · 2 bd · 2 ba · sleeps 4 · 335 ft

    Revenue $60,928ADR $277Occ ≈ 60%4.8★ (395)

    AirbnbVrboBooking

  • Mountain Cabin • Hot Tub • 10 Min to Dollywood

    Cabin · 2 bd · 2 ba · sleeps 6 · 364 ft

    Revenue $80,250ADR $282Occ ≈ 78%4.9★ (587)

    AirbnbVrbo

  • Charming 2BR | Free Attraction Tickets | Fireplace

    Cabin · 2 bd · 2 ba · sleeps 6 · 371 ft

    Revenue $33,509ADR $308Occ ≈ 30%4.5★ (227)

    AirbnbVrboBooking

  • Family Cabin | Stunning Mountain Views and Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 377 ft

    Revenue $36,803ADR $272Occ ≈ 37%4.9★ (25)

    AirbnbVrboBooking

  • SmokyVistaRomanc:View*Games*HotTub*WiFi*ResortPool

    Cabin · 2 bd · 2 ba · sleeps 6 · 387 ft

    Revenue $64,765ADR $328Occ ≈ 54%5★ (5)

    AirbnbVrbo

  • Ridge & Shadow | Mtn Views-Pool Table- Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 8 · 459 ft

    Revenue $13,194ADR $214Occ ≈ 17%4★ (4)

    VrboBooking

  • Resort setting w/ awesome Mtn views! Self checkin, close to Nat’l Park! Sleeps 6

    Cabin · 2 bd · 2 ba · sleeps 6 · 515 ft

    Revenue $65,352ADR $298Occ ≈ 60%5★ (291)

    Vrbo

  • Charming Log Cabin, Sleeps 6, Hot Tub, Pool Table

    Cabin · 2 bd · 2 ba · sleeps 6 · 522 ft

    Revenue $43,118ADR $244Occ ≈ 48%4.8★ (14)

    AirbnbVrboBooking

Show 37 more

  • GORGEOUS VIEWS of the SMOKIES ~ Centrally Located

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $41,950ADR $311Occ ≈ 37%4.9★ (385)

    AirbnbVrbo

  • Beautiful MTN Views*Hot Tub + Fireplace*Game Room

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $86,939ADR $282Occ ≈ 84%5★ (196)

    AirbnbVrbo

  • Ridge & Shadow | Mtn Views-Pool Table-Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue $15,843ADR $236Occ ≈ 18%5★ (8)

    Airbnb

  • Cozy Bear Cabin - Pool Access &Pool Table &Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $60,930ADR $208Occ ≈ 80%4.7★ (245)

    AirbnbVrbo

  • Mountain View*Hot Tub*Arcade*Pool Table*Dollywood

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $45,501ADR $316Occ ≈ 39%5★ (166)

    AirbnbVrbo

  • Mountain View Retreat w/ Hot Tub & Games

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $30,062ADR $397Occ ≈ 21%—

    Vrbo

  • Large 2BR Mountainview | Free Attraction Tickets

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $26,713ADR $240Occ ≈ 30%4.7★ (191)

    AirbnbVrboBooking

  • Located 1.5 mi. from the Parkway in Pigeon Forge.

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $41,523ADR $193Occ ≈ 59%5★ (269)

    Vrbo

  • Shaconage Rest *Slps 8*Close to Attractions

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue $60,387ADR $253Occ ≈ 65%4.8★ (21)

    AirbnbVrbo

  • 2Br/2ba, King Bed, Mtn View, Hot Tub, Arcade, Pets

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $72,793ADR $223Occ ≈ 89%5★ (653)

    Airbnb

  • Beary Relaxing: Unwind in the Smokies

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $68,464ADR $300Occ ≈ 63%4.5★ (20)

    AirbnbVrbo

  • Absolutely Amazing Views!

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue $57,985ADR $327Occ ≈ 49%4.8★ (401)

    AirbnbVrbo

  • A Cabin With An Extraordinary View

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $53,050ADR $185Occ ≈ 79%4.6★ (410)

    Vrbo

  • Easy Roads, Mtn Views, Hot Tub, Game Room + Pets!

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue $76,794ADR $266Occ ≈ 79%5★ (209)

    AirbnbVrboBooking

  • 2BR Resort Cabin w/Hot Tub*Game Room*Fireplaces

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $11,485ADR $2,297Occ ≈ 1%—

    Airbnb

  • Wooded 2BR | Pool | Hot Tub | Fireplace

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $18,586ADR $271Occ ≈ 19%4.2★ (121)

    AirbnbVrbo

  • Cozy Cabin w/ Hot Tub & Game Loft | Near Dollywood

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.2 mi

    Revenue $54,563ADR $257Occ ≈ 58%4.8★ (35)

    AirbnbVrbo

  • View of Paradise Cabin, Pigeon Forge

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $90,713ADR $308Occ ≈ 81%4.8★ (203)

    AirbnbVrbo

  • Cozy Log Cabin・Hot Tub・Resort Pool・Balcony・Gated

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $54,017ADR $243Occ ≈ 61%4.2★ (30)

    AirbnbVrboBooking

  • Cozy Smoky Mtn Cabin~Mins to PForge & Gatlinburg

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $21,640ADR $266Occ ≈ 22%4.7★ (49)

    AirbnbVrbo

  • BearFootinInTheSmokies:Res Pool*Game*WiFi*Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $58,677ADR $308Occ ≈ 52%4.2★ (10)

    AirbnbVrbo

  • Mountain Views! Hot Tub + Game Room*Fireplace

    House · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $59,402ADR $240Occ ≈ 68%5★ (145)

    AirbnbVrbo

  • Southern Memories

    Cabin · 2 bd · 2 ba · sleeps 7 · 0.2 mi

    Revenue $64,100ADR $315Occ ≈ 56%4.9★ (23)

    AirbnbVrbo

  • Resort setting w/ awesome Mtn views! Self checkin, close to Nat’l Park! Sleeps 6

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $67,025ADR $299Occ ≈ 61%4.9★ (301)

    Vrbo

  • Smoky Mountain Views | Hot Tub + Game Room

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $86,227ADR $340Occ ≈ 69%4.5★ (10)

    AirbnbVrbo

  • Cabin w/ Free Attraction Tickets, views, private hot tub, & shared, heated pool

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $25,220ADR $276Occ ≈ 25%4.5★ (128)

    Vrbo

  • 3.5 Mi to DT Pigeon Forge・Dog Ok! Getaway・Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $85,038ADR $395Occ ≈ 59%4.5★ (27)

    AirbnbVrboBooking

  • Cozy Retreat N Pigeon Forge・Views・Hot Tub・Pool

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $46,973ADR $225Occ ≈ 57%4.5★ (20)

    AirbnbVrboBooking

  • Bring your Buddy, your Cubs, or Cuddle Bear to thi

    House · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $49,687ADR $255Occ ≈ 53%4.3★ (74)

    AirbnbVrboBooking

  • Smoky Mountain Log Cabin w/ Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $12,278ADR $350Occ ≈ 10%3.7★ (3)

    Vrbo

  • Central location|Hot tub|Fireplace|Pet friendly

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $22,938ADR $214Occ ≈ 29%4.8★ (17)

    AirbnbVrbo

  • Log Cabin Overlooking Mtns, Sleeps 6, Resort Pool

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $48,778ADR $267Occ ≈ 50%5★ (6)

    AirbnbVrboBooking

  • Cabin N Gorgeous Wooded Setting, Sleeps 6, Hot Tub

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $29,741ADR $264Occ ≈ 31%4.2★ (18)

    AirbnbVrboBooking

  • *Relaxing 2BD Cabin Near TOWN | Hot Tub + VIEWS*

    Cabin · 2 bd · 2 ba · sleeps 8 · 0.2 mi

    Revenue $37,698ADR $231Occ ≈ 45%4.8★ (22)

    AirbnbVrbo

  • Altitude Adjustment Indoor Pool Cabin

    Cabin · 2 bd · 3 ba · sleeps 8 · 0.2 mi

    Revenue $91,425ADR $321Occ ≈ 78%4.8★ (180)

    AirbnbVrbo

  • Mountainview 2BR, Hot Tub, Free Attraction Tickets

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $26,000ADR $279Occ ≈ 26%4.2★ (185)

    AirbnbVrboBooking

  • 2BR Mountainview | Free Attraction Tickets

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $56,927ADR $315Occ ≈ 50%4.5★ (182)

    AirbnbVrboBooking

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 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

Est. revenue

$60,336

NOI

$29,636

Cash flow /mo

-$2,415

Cash needed

$278,650

Cash-on-cash

-10.4%

ROE (yr 1)

1.1%

Cap rate

3.3%

DSCR

0.51

Year-1 write-off

$180,539

Year-1 tax shield @ 32%

$57,773

Year-1 return on equity

  • Cash flow (annual)-$28,975
  • Principal paydown$5,512
  • Appreciation at%$26,550
ROE1.1%

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)$12,067
  • Platform fees (3% of revenue)$1,810
  • Maintenance / capex (5% of revenue)$3,017
  • Utilities & supplies$4,200
  • HOA$1,800
  • Property tax$2,496
  • Insurance (STR-rated)$5,310

Cash needed to close

  • Down payment (25%)$221,250
  • Closing costs (4.0%)$35,400
  • Furnishing (bought new)$22,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$57,773

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

$752,000

Short-life (5/15-yr)

$158,000 · 21%

Year-1 deduction

$181,000

Year-1 tax shield @ 32%

$58,000

Land 15% (market default, no usable tax-record split) · building $594,000 over 39 years · new furniture $22,000

Based on: 1,897 sq ft, built 2016, 2 bd / 3 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, stone counters, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $113,000 in year 1 (12% short-life, $36,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$120,700

  • Kitchen cabinetsdefault

    $10,000 new × 60% good × 2.64 allocation

    $15,800

  • Kitchen countertops (stone)listing

    $10,200 new × 60% good × 2.64 allocation

    $16,100

  • Decorative trimdefault

    $3,300 new × 60% good × 2.64 allocation

    $5,300

  • Mirrorsdefault

    $500 new × 40% good × 2.64 allocation

    $500

  • Shelvingdefault

    $900 new × 60% good × 2.64 allocation

    $1,400

  • Window coverings (19)default

    $4,800 new × 40% good × 2.64 allocation

    $5,000

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

    $12,200 new × 40% good × 2.64 allocation

    $12,900

  • Kitchen & laundry equipment plumbingdefault

    $7,700 new × 80% good × 2.64 allocation

    $16,400

  • Kitchen, laundry & data equipment electricaldefault

    $4,700 new × 80% good × 2.64 allocation

    $9,900

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

    $5,700 new × 40% good × 2.64 allocation

    $6,000

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.64 allocation

    $9,500

  • Furniture bought newlisting

    $16,000 new × 100% good · bought separately

    $16,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$59,200

  • Paving: driveway & walks (paved)default

    $9,000 new × 60% good × 2.64 allocation

    $14,300

  • Landscaping (typical)default

    $8,700 new × 60% good × 2.64 allocation

    $13,800

  • Patiosdefault

    $1,900 new × 60% good × 2.64 allocation

    $3,000

  • Decks & porches (attached)listing

    $21,300 new × 50% good × 2.64 allocation

    $28,200
Building, 39-year$594,300

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

    $205,900 new × 83% good × 2.64 allocation

    $452,900

  • Building plumbing & fixturesdefault

    $21,300 new × 80% good × 2.64 allocation

    $45,100

  • Building electrical & lightingdefault

    $21,300 new × 80% good × 2.64 allocation

    $45,000

  • HVACdefault

    $21,400 new × 50% good × 2.64 allocation

    $28,200

  • Fireplacelisting

    $2,600 new × 60% good × 2.64 allocation

    $4,200

  • Septic systemlisting

    $12,000 new × 60% good × 2.64 allocation

    $19,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$120,700$59,200$600$180,500
2$0$0$15,200$15,200
3$0$0$15,200$15,200
4$0$0$15,200$15,200
5$0$0$15,200$15,200
6+$0$0$532,800$532,800
Total$120,700$59,200$594,300$774,300

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: 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.