2044 Hickory Ridge Way Unit 3334
Sevierville, TN 37862
$395,000
2 bd · 2.5 ba · 1,371 sqft · Listed 46d ago
View on Realtor.com →Year built
1988
Sqft
1,371
Lot sqft
—
HOA / mo
$334
Furnished
No
List date
2026-09-28T01:04:22.000000Z
Revenue
Annual revenue
$34,857
ADR
$164
Occupancy
58%
Cleaning fees (12 mo)
$6,909
Confidence
Med (53.86), 36 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $31,537
Bill’s on Little Pigeon River
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $13,328ADR $266Occ ≈ 14%4.6★ (37)
River View*Resort Setting*River Adjacent*Sleeps 4
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.4 mi
Revenue $33,355ADR $184Occ ≈ 50%4.8★ (12)
Apple Blossom Getaway-Near Apple Barn-Near Tanger Outlets
Condominium (condo) · 2 bd · 2 ba · sleeps 5 · 0.4 mi
- Hot tub
- Pool
- A/C
- Free parking
- +5
Revenue $22,675ADR $184Occ ≈ 34%5★ (322)
River Front less than a mile from Pigeon Forge!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.4 mi
- Pool
- A/C
- Free parking
- Wifi
- +3
Revenue $31,537ADR $155Occ ≈ 56%5★ (250)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
2BR Townhouse* Resort Pool & Games! 1 Mile to PF House
| 2 bd · 1.5 ba · sleeps 4 | $42,743 | $160 | 73% | 5★ (85) | 0.3 mi | AirbnbVrbo |
Riverfront Condo | Eagles & Air Hockey Apartment
| 2 bd · 2 ba · sleeps 6 | $31,397 | $206 | 42% | 5★ (188) | 0.4 mi | AirbnbVrboBooking |
2BR*Resort Pool & Games + 1 Mile to Pigeon Forge House
| 2 bd · 1.5 ba · sleeps 4 | $41,851 | $168 | 68% | 5★ (73) | 0.4 mi | AirbnbVrbo |
Bill’s on Little Pigeon River Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $13,328 | $266 | 14% | 4.6★ (37) | 0.4 mi | Booking |
Dreamy 2BR Riverfront | Free Attraction Tickets Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $14,669 | $189 | 21% | 4.8★ (115) | 0.4 mi | AirbnbBooking |
River View*Resort Setting*River Adjacent*Sleeps 4 Condominium (condo) | 2 bd · 2 ba · sleeps 4 | $33,355 | $184 | 50% | 4.8★ (12) | 0.4 mi | Airbnb |
Riverside Family Getaway・Creek Views・Hot Tub・Pool Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $21,781 | $168 | 36% | 4.5★ (21) | 0.4 mi | AirbnbVrboBooking |
Apple Blossom Getaway-Near Apple Barn-Near Tanger Outlets Condominium (condo)
| 2 bd · 2 ba · sleeps 5 | $22,675 | $184 | 34% | 5★ (322) | 0.4 mi | Vrbo |
River Front less than a mile from Pigeon Forge! Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $31,537 | $155 | 56% | 5★ (250) | 0.4 mi | Airbnb |
Cozy Dreams- quietly nestled just off the Parkway House
| 2 bd · 2 ba · sleeps 4 | $22,115 | $164 | 37% | 5★ (32) | 0.4 mi | AirbnbVrbo |
Show 25 more
River View by American Patriot Getaways
Vacation home · 2 bd · 2 ba · sleeps 4 · 0.5 mi
Revenue $47,366ADR $219Occ ≈ 59%—
Location! | 2 KING Suites | Hot Tub | Arcade Games
Cabin · 2 bd · 2 ba · sleeps 8 · 0.5 mi
Revenue $38,330ADR $231Occ ≈ 45%5★ (119)
Rustic 2 bedroom Cabin - 3 miles from Pigeon Forge
Cabin · 2 bd · 2 ba · sleeps 5 · 0.5 mi
Revenue $29,411ADR $174Occ ≈ 46%4.8★ (190)
Delisted
1/2mi to Pkwy | 5th wheel | Pool & Hot tub
Camper/RV · 2 bd · 1.5 ba · sleeps 8 · 0.6 mi
- Hot tub
- Pool
- A/C
- Free parking
- +4
Revenue $16,816ADR $173Occ ≈ 27%5★ (3)
*Hot Tub *Seasonal Pool *2mi to Parkway*
Cabin · 2 bd · 2 ba · sleeps 6 · 0.6 mi
- Hot tub
- Pool
- A/C
- Free parking
- +4
Revenue $10,011ADR $189Occ ≈ 15%5★ (10)
Cozy 2BR Cabin - 2 Firepits, Games, Great Location
Cabin · 2 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $57,633ADR $192Occ ≈ 82%5★ (273)
Cabin, A+ Location, new Hot Tub, Firepit, Wi-Fi
Cabin · 2 bd · 2 ba · sleeps 6 · 0.6 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +6
Revenue $8,868ADR $201Occ ≈ 12%5★ (9)
Dollywood/Tanger within 5 miles!
House · 2 bd · 2 ba · sleeps 4 · 0.7 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +1
Revenue $35,562ADR $160Occ ≈ 61%5★ (94)
Modern Rustic Cabin Near Pigeon Forge Attractions
Cabin · 2 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $56,144ADR $187Occ ≈ 82%5★ (137)
Delisted
Pigeon Forge, car show, dollywood, hiking, cades cove, mt leconte
House · 2 bd · 2 ba · sleeps 6 · 0.7 mi
- Pool
- A/C
- Free parking
- Wifi
- +3
Revenue $36,728ADR $165Occ ≈ 61%4.9★ (216)
Cozy cabin style| Two min to Pigeon Forge Parkway
Cabin · 2 bd · 1.5 ba · sleeps 6 · 0.7 mi
- Hot tub
- Free parking
- Wifi
- Kitchen
- +1
Revenue $20,118ADR $226Occ ≈ 24%5★ (69)
Pet-friendly, Central Location with a very easy drive, Hot Tub, Community Pool
Cabin · 2 bd · 2 ba · sleeps 4 · 0.7 mi
Revenue $37,351ADR $180Occ ≈ 57%5★ (2)
Delisted
Simply Irresistible Cabin Rental
Cabin · 2 bd · 2 ba · sleeps 8 · 0.7 mi
- Hot tub
- Pool
- A/C
- Free parking
- +5
Revenue $577ADR $192Occ ≈ 1%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
River Place Condo - The Heart of Pigeon Forge! Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $29,922 | $167 | 49% | 4.7★ (71) | 0.4 mi | AirbnbVrbo |
River View by American Patriot Getaways Vacation home | 2 bd · 2 ba · sleeps 4 | $47,366 | $219 | 59% | — | 0.5 mi | Booking |
River Dreams- riverside quiet unit on bottom floor Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $33,871 | $180 | 52% | 5★ (184) | 0.5 mi | AirbnbVrbo |
Autumn on Sunrise- Hot Tub/Arcade Game Cabin
| 2 bd · 2 ba · sleeps 8 | $41,685 | $208 | 55% | 4.8★ (56) | 0.5 mi | AirbnbVrboBooking |
Villa Dreams- quiet villa with garage access Villa
| 2 bd · 2 ba · sleeps 6 | $45,193 | $182 | 68% | 5★ (274) | 0.5 mi | AirbnbVrbo |
Charming Dollywood Retreat・Hot Tub & Pool Access Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $24,650 | $173 | 39% | 4.8★ (15) | 0.5 mi | AirbnbVrboBooking |
Location! | 2 KING Suites | Hot Tub | Arcade Games Cabin | 2 bd · 2 ba · sleeps 8 | $38,330 | $231 | 45% | 5★ (119) | 0.5 mi | Airbnb |
Rustic 2 bedroom Cabin - 3 miles from Pigeon Forge Cabin | 2 bd · 2 ba · sleeps 5 | $29,411 | $174 | 46% | 4.8★ (190) | 0.5 mi | Delisted |
Magic Moments*Pool Table *Coffee Bar*No MTN Roads Cabin
| 2 bd · 2 ba · sleeps 6 | $36,974 | $219 | 46% | 4.8★ (12) | 0.6 mi | AirbnbVrbo |
1/2mi to Pkwy | 5th wheel | Pool & Hot tub Camper/RV
| 2 bd · 1.5 ba · sleeps 8 | $16,816 | $173 | 27% | 5★ (3) | 0.6 mi | Airbnb |
*Hot Tub *Seasonal Pool *2mi to Parkway* Cabin
| 2 bd · 2 ba · sleeps 6 | $10,011 | $189 | 15% | 5★ (10) | 0.6 mi | Airbnb |
Riverfront 2BR | Pool | Free Attraction Tickets Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $12,422 | $162 | 21% | 4.6★ (69) | 0.6 mi | AirbnbBooking |
Cozy Whispering Oaks Cabin in Sevierville for 6 Cabin
| 2 bd · 2.5 ba · sleeps 6 | $34,584 | $208 | 46% | 3.6★ (33) | 0.6 mi | AirbnbVrboBooking |
Quiet Charm | 2 mi from Parkway | HotTub | Pets Cabin
| 2 bd · 2 ba · sleeps 6 | $58,166 | $221 | 72% | 4.8★ (187) | 0.6 mi | AirbnbVrbo |
Cozy 2BR Cabin - 2 Firepits, Games, Great Location Cabin | 2 bd · 2 ba · sleeps 6 | $57,633 | $192 | 82% | 5★ (273) | 0.6 mi | Airbnb |
Cabin, A+ Location, new Hot Tub, Firepit, Wi-Fi Cabin
| 2 bd · 2 ba · sleeps 6 | $8,868 | $201 | 12% | 5★ (9) | 0.6 mi | Airbnb |
Dollywood/Tanger within 5 miles! House
| 2 bd · 2 ba · sleeps 4 | $35,562 | $160 | 61% | 5★ (94) | 0.7 mi | Airbnb |
NEW Hot Tub • 2 Mi to Parkway • Fire Pit • Arcade House
| 2 bd · 2 ba · sleeps 6 | $15,340 | $208 | 20% | 5★ (17) | 0.7 mi | AirbnbVrboBooking |
Tranquil 2BR Cabin | Near Pigeon Forge & Pool! Cabin
| 2 bd · 2 ba · sleeps 4 | $41,242 | $202 | 56% | 4.5★ (49) | 0.7 mi | AirbnbVrboBooking |
Modern Rustic Cabin Near Pigeon Forge Attractions Cabin | 2 bd · 2 ba · sleeps 6 | $56,144 | $187 | 82% | 5★ (137) | 0.7 mi | Delisted |
Pigeon Forge, car show, dollywood, hiking, cades cove, mt leconte House
| 2 bd · 2 ba · sleeps 6 | $36,728 | $165 | 61% | 4.9★ (216) | 0.7 mi | Vrbo |
Cozy cabin style| Two min to Pigeon Forge Parkway Cabin
| 2 bd · 1.5 ba · sleeps 6 | $20,118 | $226 | 24% | 5★ (69) | 0.7 mi | Airbnb |
Pet-friendly, Central Location with a very easy drive, Hot Tub, Community Pool Cabin | 2 bd · 2 ba · sleeps 4 | $37,351 | $180 | 57% | 5★ (2) | 0.7 mi | Delisted |
Dogs stay Free, Close to attractions, Hot tub Cabin
| 2 bd · 2 ba · sleeps 6 | $21,557 | $242 | 24% | 5★ (16) | 0.7 mi | AirbnbVrbo |
Simply Irresistible Cabin Rental Cabin
| 2 bd · 2 ba · sleeps 8 | $577 | $192 | 1% | — | 0.7 mi | Vrbo |
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 7.86% = 7.11% Freddie Mac 30-yr avg (Nov 12) + 0.75% investor premium
Est. revenue
$34,857
NOI
$13,543
Cash flow /mo
-$1,016
Cash needed
$130,550
Cash-on-cash
-9.3%
ROE (yr 1)
1.7%
Cap rate
3.4%
DSCR
0.53
Year-1 write-off
$81,505
Year-1 tax shield @ 32%
$26,082
Year-1 return on equity
- Cash flow (annual)-$12,196
- Principal paydown$2,544
- Appreciation at%$11,850
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)$6,971
- Platform fees (3% of revenue)$1,046
- Maintenance / capex (5% of revenue)$1,743
- Utilities & supplies$4,200
- HOA$4,008
- Property tax$976
- Insurance (STR-rated)$2,370
Cash needed to close
- Down payment (25%)$98,750
- Closing costs (4.0%)$15,800
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$26,082
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
$336,000
Short-life (5/15-yr)
$65,000 · 19%
Year-1 deduction
$82,000
Year-1 tax shield @ 32%
$26,000
Land 15% (market default, no usable tax-record split) · building $271,000 over 39 years · new furniture $16,000
Based on: 1,371 sq ft, built 1988, 2 bd / 2.5 ba, unfurnished, listing features (hot tub, pool, deck, fireplace, flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $56,000 in year 1 (12% short-life, $18,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,600
Kitchen cabinetsdefault
$8,800 new × 40% good × 3.30 allocation
- $9,500
Kitchen countertopsdefault
$7,200 new × 40% good × 3.30 allocation
- $3,200
Decorative trimdefault
$2,400 new × 40% good × 3.30 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 3.30 allocation
- $1,200
Shelvingdefault
$900 new × 40% good × 3.30 allocation
- $4,600
Window coverings (14)default
$3,500 new × 40% good × 3.30 allocation
- $9,000
Kitchen & laundry equipment plumbingdefault
$6,900 new × 40% good × 3.30 allocation
- $5,500
Kitchen, laundry & data equipment electricaldefault
$4,100 new × 40% good × 3.30 allocation
- $7,800
Appliances (range, microwave, dishwasher, disposal, washer, dryer)listing
$5,900 new × 40% good × 3.30 allocation
- $11,900
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.30 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $196,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$148,600 new × 40% good × 3.30 allocation
- $20,300
Building plumbing & fixturesdefault
$15,400 new × 40% good × 3.30 allocation
- $19,300
Building electrical & lightingdefault
$14,700 new × 40% good × 3.30 allocation
- $20,400
HVACdefault
$15,400 new × 40% good × 3.30 allocation
- $11,600
Hardwood & tile floorsdefault
$8,800 new × 40% good × 3.30 allocation
- $3,500
Fireplacelisting
$2,600 new × 40% good × 3.30 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $80,600 | $0 | $900 | $81,500 |
| 2 | $0 | $0 | $7,000 | $7,000 |
| 3 | $0 | $0 | $7,000 | $7,000 |
| 4 | $0 | $0 | $7,000 | $7,000 |
| 5 | $0 | $0 | $7,000 | $7,000 |
| 6+ | $0 | $0 | $242,400 | $242,400 |
| Total | $80,600 | $0 | $271,100 | $351,800 |
The building's share of the price ($336,000) is 3.3x our depreciated replacement cost of the home ($102,000). 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: 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.