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Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium

2345 Tributary Dr

2345 Tributary Dr

Sevierville, TN 37876

$458,450

4 bd · 3 ba · 2,534 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceEst. land %

Year built

2026

Sqft

2,534

Lot sqft

13,939

HOA / mo

$33

Furnished

No

List date

2026-10-22T14:54:37.000000Z

Revenue

Annual revenue

$77,663

ADR

$368

Occupancy

58%

Cleaning fees (12 mo)

$13,754

Confidence

Med (54.68), 6 comps

Comp revenue range (p25 / median / p75)

$51,308$54,702$91,562

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $54,702

  • 1901 Farm House “Par for the Course Inn”

    Farm stay · 5 bd · 3 ba · sleeps 15 · 0.4 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $53,162ADR $417Occ ≈ 35%5★ (144)

    AirbnbVrbo

  • Tranquility Paradise - Riverside Soaks & Stories

    Cabin · 5 bd · 2.5 ba · sleeps 11 · 0.6 mi

    Revenue $126,313ADR $534Occ ≈ 65%4.3★ (25)

    Delisted

  • Tranquility Paradise

    Cabin · 5 bd · 2 ba · sleeps 11 · 0.6 mi

    Revenue $103,336ADR $778Occ ≈ 36%4.8★ (17)

    Airbnb

  • Luxury Smoky Mountain cabin, River View, Firepit,

    House · 5 bd · 2.5 ba · sleeps 11 · 0.6 mi

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

    Revenue $50,690ADR $540Occ ≈ 26%5★ (26)

    AirbnbVrboBooking

  • Broadview, River, Golf Course, Games, free Attraction Tickets, WIFI!!!

    Vacation home · 3 bd · 3 ba · sleeps 6 · 0.6 mi

    Revenue $56,241ADR $287Occ ≈ 54%4.5★ (1)

    Booking

  • Broadview, Free Tickets, Near Golf Course

    House · 3 bd · 3.5 ba · sleeps 6 · 0.6 mi

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

    Revenue $49,253ADR $282Occ ≈ 48%4.7★ (32)

    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

Financing
Management
Term

Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium

Est. revenue

$77,663

NOI

$45,774

Cash flow /mo

$1,275

Cash needed

$155,951

Cash-on-cash

9.8%

ROE (yr 1)

20.4%

Cap rate

10.0%

DSCR

1.50

Year-1 write-off

$116,161

Year-1 tax shield @ 32%

$37,171

Year-1 return on equity

  • Cash flow (annual)$15,297
  • Principal paydown$2,833
  • Appreciation at%$13,754
ROE20.4%

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)$15,533
  • Platform fees (3% of revenue)$2,330
  • Maintenance / capex (5% of revenue)$3,883
  • Utilities & supplies$4,200
  • HOA$396
  • Property tax$2,797
  • Insurance (STR-rated)$2,751

Cash needed to close

  • Down payment (25%)$114,613
  • Closing costs (4.0%)$18,338
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$37,171

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

$390,000

Short-life (5/15-yr)

$93,000 · 24%

Year-1 deduction

$116,000

Year-1 tax shield @ 32%

$37,000

Land 15% (market default, no usable tax-record split) · building $297,000 over 39 years · new furniture $23,000

Based on: 2,534 sq ft, built 2026, 4 bd / 3 ba, unfurnished, listing features (covered patio, fireplace, stone counters, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $90,000 in year 1 (17% short-life, $29,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$80,100

  • Kitchen cabinetsdefault

    $11,400 new × 100% good × 0.82 allocation

    $9,300

  • Kitchen countertops (stone)listing

    $11,600 new × 100% good × 0.82 allocation

    $9,500

  • Decorative trimdefault

    $4,400 new × 100% good × 0.82 allocation

    $3,600

  • Mirrorsdefault

    $500 new × 100% good × 0.82 allocation

    $400

  • Shelvingdefault

    $1,500 new × 100% good × 0.82 allocation

    $1,200

  • Window coverings (25)default

    $6,300 new × 100% good × 0.82 allocation

    $5,100

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

    $16,300 new × 100% good × 0.82 allocation

    $13,300

  • Kitchen & laundry equipment plumbingdefault

    $8,800 new × 100% good × 0.82 allocation

    $7,200

  • Kitchen, laundry & data equipment electricaldefault

    $5,300 new × 100% good × 0.82 allocation

    $4,400

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

    $3,900 new × 100% good × 0.82 allocation

    $3,200

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000
15-year land improvements$35,800

  • Paving: driveway & walks (paved)default

    $10,400 new × 100% good × 0.82 allocation

    $8,500

  • Landscaping (typical)default

    $10,000 new × 100% good × 0.82 allocation

    $8,200

  • Covered patiolisting

    $20,900 new × 100% good × 0.82 allocation

    $17,000

  • Decks & porches (attached)default

    $2,500 new × 100% good × 0.82 allocation

    $2,000
Building, 39-year$296,800

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

    $274,900 new × 100% good × 0.82 allocation

    $224,200

  • Building plumbing & fixturesdefault

    $28,600 new × 100% good × 0.82 allocation

    $23,300

  • Building electrical & lightingdefault

    $29,400 new × 100% good × 0.82 allocation

    $24,000

  • HVACdefault

    $28,500 new × 100% good × 0.82 allocation

    $23,300

  • Fireplacelisting

    $2,600 new × 100% good × 0.82 allocation

    $2,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$80,100$35,800$300$116,200
2$0$0$7,600$7,600
3$0$0$7,600$7,600
4$0$0$7,600$7,600
5$0$0$7,600$7,600
6+$0$0$266,100$266,100
Total$80,100$35,800$296,800$412,700

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.