STR Yield
← Back to deals
MortgageCash

Rate 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium

3919 S River Rd Unit 301

3919 S River Rd Unit 301

Pigeon Forge, TN 37863

$449,999

3 bd · 3 ba · 1,350 sqft · Listed 1d ago

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

Year built

2007

Sqft

1,350

Lot sqft

—

HOA / mo

$445

Furnished

No

List date

2026-11-11T00:18:14.000000Z

Revenue

Annual revenue

$45,046

ADR

$205

Occupancy

60%

Cleaning fees (12 mo)

$7,292

Confidence

Low (46.58), 49 comps

Comp revenue range (p25 / median / p75)

$22,361$34,465$47,576

Median revenue of shown comps: $33,539

  • River Romp | Fireplace, Resort Pool, River Views!

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 0 ft

    Revenue $64,478ADR $331Occ ≈ 53%4.7★ (66)

    Airbnb

  • Near Dollywood - Spacious 3/3 Riverside Condo - 1 block from the Parkway

    Condominium (condo) · 3 bd · 3 ba · sleeps 6 · 7 ft

    Revenue $39,023ADR $277Occ ≈ 39%5★ (133)

    Delisted

  • Top-Floor Riverfront – 3BR Condo with Elevator Acc

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 16 ft

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $28,225ADR $271Occ ≈ 29%4.6★ (25)

    AirbnbVrboBooking

  • River Sounds | River View, Fireplace, Amenities!

    Condominium (condo) · 3 bd · 3 ba · sleeps 6 · 16 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $67,961ADR $316Occ ≈ 59%4.6★ (72)

    AirbnbVrboBooking

  • Riverside Retreat Close to Dollywood

    Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 16 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $45,225ADR $180Occ ≈ 69%5★ (199)

    AirbnbVrbo

  • FREE Dollywood • Creekside Condo w/ Balcony

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 20 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $67,677ADR $249Occ ≈ 74%4.8★ (81)

    AirbnbVrbo

  • Three bedroom, three bath condo| Pigeon Forge| Clo

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 20 ft

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $25,569ADR $260Occ ≈ 27%4.4★ (5)

    AirbnbVrboBooking

  • Family getaway, romantic weekend, friend retreat

    Apartment · 3 bd · 3 ba · sleeps 8 · 20 ft

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $31,661ADR $253Occ ≈ 34%5★ (86)

    AirbnbVrbo

  • Cedar Lodge Condo

    Apartment · 3 bd · 3 ba · sleeps 8 · 62 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +4

    Revenue $59,483ADR $283Occ ≈ 58%4.9★ (129)

    AirbnbVrbo

  • New Riverside Pigeon Forge Condo-Sleeps 8

    Condominium (condo) · 3 bd · 3 ba · sleeps 10 · 118 ft

    Revenue $34,465ADR $274Occ ≈ 34%5★ (4)

    AirbnbBooking

Show 37 more

  • 3 br condo by pigeon river with elevator

    Condominium (condo) · 3 bd · 3 ba · sleeps 7 · 213 ft

    Revenue $38,642ADR $190Occ ≈ 56%4.8★ (144)

    Airbnb

  • Family Friendly・Near Dolly・Seasonal Pool & Hot Tub

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 230 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +4

    Revenue $31,914ADR $207Occ ≈ 42%4.5★ (20)

    AirbnbVrboBooking

  • Riverfront · Free Dollywood Tickets · 3 King beds

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 230 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +4

    Revenue $36,280ADR $344Occ ≈ 29%5★ (16)

    AirbnbVrboBooking

  • Riverstone Resort Spa & Resort- 3 BR Riverview. Minutes to Dollywood.

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 322 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $79,754ADR $337Occ ≈ 65%4.9★ (163)

    Vrbo

  • Riverfront Cabin w/ Hot Tub - 3 Miles to Dollywood

    Cabin · 3 bd · 2.5 ba · sleeps 7 · 482 ft

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $103,285ADR $432Occ ≈ 66%4.9★ (172)

    AirbnbVrboBooking

  • Little Pigeon River Chalet

    Chalet · 3 bd · 2 ba · sleeps 7 · 522 ft

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +2

    Revenue $60,408ADR $244Occ ≈ 68%5★ (309)

    AirbnbVrbo

  • Big Bear River House, Outdoor Grill, River Access, 3 Beds

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.1 mi

    Revenue $26,191ADR $229Occ ≈ 31%3.1★ (53)

    Booking

  • Cabin in Pigeon Forge w/ Hot Tub

    Vacation home · 3 bd · 2 ba · sleeps 8 · 0.1 mi

    Revenue $29,643ADR $229Occ ≈ 35%4.1★ (33)

    Airbnb

  • 3BR Riverfront w/ Free Attraction Tickets & Pool

    Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 0.1 mi

    Revenue $38,314ADR $196Occ ≈ 54%4.7★ (34)

    AirbnbBooking

  • Cozy Farmhouse Vibe 5 Min 2 Dollywood/Walk 2 Prkwy

    House · 3 bd · 2.5 ba · sleeps 8 · 0.1 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +3

    Revenue $38,777ADR $256Occ ≈ 41%5★ (73)

    AirbnbVrbo

  • 3mi to Dollywood*Arcade*Bunkroom*Attractions

    House · 3 bd · 2 ba · sleeps 6 · 0.1 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +4

    Revenue $19,936ADR $190Occ ≈ 29%4.9★ (83)

    Airbnb

  • Pigeon Forge | Mountain View | Fireplace | WiFi

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.2 mi

    Revenue $64,556ADR $259Occ ≈ 68%4.5★ (25)

    AirbnbBooking

  • Riverstone Resort 3 Bedroom Condo - Pigeon Forge

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.2 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $39,266ADR $401Occ ≈ 27%5★ (57)

    AirbnbVrbo

  • Riverstone 3BR condo, 5 min-Ripken/Dollywood/LeConte,Golf View, Indoor Pool

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $67,823ADR $311Occ ≈ 60%5★ (415)

    Vrbo

  • RiverStone Resort & Spa - Newly Remodeled in 2022!

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $18,793ADR $124Occ ≈ 42%—

    Delisted

  • RiverStone Resort & Spa - Newly Remodeled in 2022!

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $27,604ADR $321Occ ≈ 24%5★ (2)

    Airbnb

  • RiverStone Resort & Spa - Newly Remodeled in 2022!

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $42,430ADR $440Occ ≈ 26%—

    Airbnb

  • Riverstone Building 4 on the River

    Apartment · 3 bd · 2 ba · sleeps 6 · 0.3 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +4

    Revenue $38,021ADR $230Occ ≈ 45%5★ (10)

    Airbnb

  • Penthouse Three Bedroom Riverview Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $22,361ADR $542Occ ≈ 11%4★ (1)

    Delisted

  • RiverStone Resort & Spa-Newly Renovated-Lazy River

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    • Pool
    • A/C
    • Free parking
    • Wifi
    • +5

    Revenue $54,478ADR $339Occ ≈ 44%5★ (110)

    AirbnbVrbo

  • Riverstone Resort and Spa - Top Floor Unit

    Apartment · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +4

    Revenue $50,688ADR $300Occ ≈ 46%5★ (255)

    AirbnbVrbo

  • RiverStone Resort & Spa - Newly Remodeled in 2022!

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $33,539ADR $450Occ ≈ 20%5★ (1)

    Airbnb

  • 3 Bedroom Condo - 2 Kings and 2 Twins

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $8,907ADR $769Occ ≈ 3%—

    Airbnb

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $12,136ADR $666Occ ≈ 5%—

    Airbnb

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $19,438ADR $416Occ ≈ 13%—

    Airbnb

  • Three Bedroom Condo - 2 Kings and 2 Twins

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $19,170ADR $9,300Occ ≈ 1%—

    Delisted

  • 3 Bedroom Condo - 2 Kings and 2 Twins

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $19,574ADR $472Occ ≈ 11%—

    Airbnb

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $7,998ADR $628Occ ≈ 3%—

    Airbnb

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $25,889ADR $3,202Occ ≈ 2%—

    Delisted

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $45,511ADR $0Occ ≈ ——

    Delisted

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $28,157ADR $431Occ ≈ 18%—

    Airbnb

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $26,826ADR $460Occ ≈ 16%—

    Delisted

  • Three Bedroom Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $41,179ADR $769Occ ≈ 15%—

    Airbnb

  • Three Bedroom Condo - 2 Kings and 2 Twins

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $18,035ADR $467Occ ≈ 11%—

    Airbnb

  • 3 Bedroom Condo - 2 Kings and 2 Twins

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $16,754ADR $387Occ ≈ 12%—

    Delisted

  • Three Bedroom Riverview Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $14,181ADR $404Occ ≈ 10%—

    Delisted

  • Three Bedroom Riverview Condo - 3 Kings

    Condominium (condo) · 3 bd · 2 ba · sleeps 8 · 0.3 mi

    Revenue $16,267ADR $449Occ ≈ 10%—

    Airbnb

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 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium

Est. revenue

$45,046

NOI

-$169,071

Cash flow /mo

-$16,549

Cash needed

$150,000

Cash-on-cash

-132.4%

ROE (yr 1)

-121.5%

Cap rate

-37.6%

DSCR

-5.73

Year-1 write-off

$82,346

Year-1 tax shield @ 32%

$26,351

Year-1 return on equity

  • Cash flow (annual)-$198,591
  • Principal paydown$2,859
  • Appreciation at%$13,500
ROE-121.5%

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)$9,009
  • Platform fees (3% of revenue)$1,351
  • Maintenance / capex (5% of revenue)$2,252
  • Utilities & supplies$4,200
  • HOA$5,340
  • Property tax$189,264
  • Insurance (STR-rated)$2,700

Cash needed to close

  • Down payment (25%)$112,500
  • Closing costs (4.0%)$18,000
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$26,351

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

$382,000

Short-life (5/15-yr)

$63,000 · 16%

Year-1 deduction

$82,000

Year-1 tax shield @ 32%

$26,000

Land 15% (market default, no usable tax-record split) · building $320,000 over 39 years · new furniture $20,000

Based on: 1,350 sq ft, built 2007, 3 bd / 3 ba, unfurnished, listing features (hot tub, pool, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $62,000 in year 1 (11% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$82,000

  • Kitchen cabinetsdefault

    $8,800 new × 40% good × 2.54 allocation

    $8,900

  • Kitchen countertopsdefault

    $7,200 new × 40% good × 2.54 allocation

    $7,300

  • Decorative trimdefault

    $2,400 new × 40% good × 2.54 allocation

    $2,400

  • Mirrorsdefault

    $500 new × 40% good × 2.54 allocation

    $500

  • Shelvingdefault

    $1,200 new × 40% good × 2.54 allocation

    $1,200

  • Window coverings (14)default

    $3,500 new × 40% good × 2.54 allocation

    $3,600

  • Carpet, vinyl & laminate (50% of floors)listing

    $4,300 new × 40% good × 2.54 allocation

    $4,400

  • Kitchen & laundry equipment plumbingdefault

    $6,800 new × 62% good × 2.54 allocation

    $10,700

  • Kitchen, laundry & data equipment electricaldefault

    $4,100 new × 62% good × 2.54 allocation

    $6,500

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

    $7,700 new × 40% good × 2.54 allocation

    $7,800

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.54 allocation

    $9,200

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500
Building, 39-year$320,000

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

    $145,900 new × 68% good × 2.54 allocation

    $253,500

  • Building plumbing & fixturesdefault

    $15,200 new × 62% good × 2.54 allocation

    $23,900

  • Building electrical & lightingdefault

    $14,400 new × 62% good × 2.54 allocation

    $22,700

  • HVACdefault

    $15,200 new × 40% good × 2.54 allocation

    $15,500

  • Hardwood & tile floorsdefault

    $4,300 new × 40% good × 2.54 allocation

    $4,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$82,000$0$300$82,300
2$0$0$8,200$8,200
3$0$0$8,200$8,200
4$0$0$8,200$8,200
5$0$0$8,200$8,200
6+$0$0$286,800$286,800
Total$82,000$0$320,000$402,000

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.