3215 River Rd N Unit 307
Pigeon Forge, TN 37863
$320,000
2 bd · 2 ba · 992 sqft · Listed 1d ago
View on Realtor.com →Year built
1990
Sqft
992
Lot sqft
—
HOA / mo
$250
Furnished
No
List date
2026-10-13T17:20:54.000000Z
Revenue
Annual revenue
$28,492
ADR
$172
Occupancy
45%
Cleaning fees (12 mo)
$5,693
Confidence
Med (54.17), 50 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $25,796
Near Pigeon Forge Events • LeConte • Car Shows
Apartment · 2 bd · 2 ba · sleeps 4 · 52 ft
Revenue $34,210ADR $133Occ ≈ 70%4.8★ (36)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
2 BR condo with fireplace, balcony and river views Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $6,342 | $192 | 9% | 4.1★ (9) | 36 ft | AirbnbBooking |
Riverfront Retreat | Balcony + Pool | Heart of Pig Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $2,300 | $191 | 3% | 4★ (1) | 39 ft | AirbnbVrbo |
Parkway Riverview 307 Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $47,042 | $204 | 63% | 4.3★ (17) | 52 ft | AirbnbVrboBooking |
Near Pigeon Forge Events • LeConte • Car Shows Apartment | 2 bd · 2 ba · sleeps 4 | $34,210 | $133 | 70% | 4.8★ (36) | 52 ft | Airbnb |
Stylish Riverview Corner Unit, Sleeps 4・Balcony Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $21,236 | $161 | 36% | 3.9★ (19) | 52 ft | AirbnbVrboBooking |
Cozy Riverfront Downtown Condo, Sleeps 6, Balcony Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $27,545 | $164 | 46% | 4.5★ (30) | 52 ft | AirbnbVrboBooking |
1 King 1 Queen, 2 BR Suites, Pool, River View, DT Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $51,611 | $189 | 75% | 4.8★ (355) | 59 ft | AirbnbVrbo |
Riverfront 2 BR Condo Walk to the Island Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $39,814 | $156 | 70% | 4.8★ (170) | 135 ft | AirbnbVrbo |
5 mins to Dollywood/Splash Country-Hideaway Waters House
| 2 bd · 2 ba · sleeps 5 | $30,651 | $226 | 37% | 4.7★ (45) | 157 ft | AirbnbVrbo |
Cozy Fireplace, River Views, Walk to Downtown Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $16,155 | $154 | 29% | 4.5★ (11) | 184 ft | AirbnbVrboBooking |
Show 40 more
103 2-Bedroom
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 233 ft
Revenue $16,824ADR $240Occ ≈ 19%5★ (2)
Delisted
River Place Unit 303 Community Pool Near Parkway
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 233 ft
Revenue $39,122ADR $203Occ ≈ 53%4.8★ (94)
*Cozy 2BD Condo Near TOWN! Pool Access + Jacuzzi*
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 236 ft
Revenue $13,638ADR $139Occ ≈ 27%4.7★ (7)
Little Pigeon River 508-2br W/fireplace & Jacuzzi
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $17,172ADR $261Occ ≈ 18%—
Delisted
Smoky Mountains 107 2bd Condo with Fireplace
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $29,534ADR $250Occ ≈ 32%—
Delisted
204 2-Bedroom
House · 2 bd · 2 ba · sleeps 4 · 246 ft
Revenue $13,917ADR $261Occ ≈ 15%—
Delisted
Renovated 102 2bd Condo with Riverview Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 246 ft
Revenue $10,131ADR $316Occ ≈ 9%3★ (1)
Delisted
Smoky Mountains 603 2bd W/ Balcony & Jacuzzi Tub
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 246 ft
Revenue $14,598ADR $210Occ ≈ 19%5★ (2)
Delisted
Little Pigeon River 501. 2br W/ Mt. View & Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 246 ft
Revenue $29,792ADR $254Occ ≈ 32%5★ (1)
Delisted
Attractive 504 2bd Condo W/ Balcony & Jacuzzi Tub
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $8,365ADR $379Occ ≈ 6%3★ (1)
Delisted
Little Pigeon River 602 2br Condo W/ Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $8,889ADR $236Occ ≈ 10%5★ (1)
Little Pigeon River 401 2bd Condo with Jacuzzi Tub
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $32,642ADR $250Occ ≈ 36%—
Delisted
Smoky Mountains 101-2br Condo W/fireplace& Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $22,746ADR $249Occ ≈ 25%—
Delisted
Smoky Mountains 205 2bd Condo with Private Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 6 · 246 ft
Revenue $10,965ADR $256Occ ≈ 12%—
Delisted
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Reese's Bearadise: Your Sweet Mountain Escape Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $36,630 | $207 | 48% | 4.6★ (29) | 184 ft | AirbnbVrbo |
Riverfront Condo, Pool Access, Near Dollywood Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $20,114 | $174 | 32% | 3.9★ (14) | 184 ft | AirbnbVrboBooking |
Private Balcony, Outdoor Pool, Fireplace Lounge Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $21,414 | $139 | 42% | 4.1★ (18) | 184 ft | AirbnbVrboBooking |
River Secret Apartment | 2 bd · 2 ba · sleeps 4 | $11,619 | $124 | 26% | — | 187 ft | Booking |
206 2-Bedroom Condo Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $22,521 | $240 | 26% | 4.5★ (47) | 197 ft | AirbnbBooking |
2 BD Condo, Middle of Pigeon Forge, Dollywood Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $30,225 | $206 | 40% | 4.5★ (12) | 233 ft | AirbnbVrboBooking |
Pigeon Forge Condo with Indoor & Outdoor Pool! Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $43,223 | $189 | 63% | 4.8★ (40) | 233 ft | AirbnbVrbo |
103 2-Bedroom Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $16,824 | $240 | 19% | 5★ (2) | 233 ft | Delisted |
Cozy Condo Steps from Pigeon Forge Strip Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $36,648 | $174 | 58% | 4.6★ (102) | 233 ft | AirbnbVrboBooking |
605 2-Bedroom Condo House | 2 bd · 2 ba · sleeps 6 | $49,238 | $212 | 64% | — | 233 ft | Airbnb |
River Place Unit 303 Community Pool Near Parkway Condominium (condo) | 2 bd · 2 ba · sleeps 4 | $39,122 | $203 | 53% | 4.8★ (94) | 233 ft | Airbnb |
*Cozy 2BD Condo Near TOWN! Pool Access + Jacuzzi* Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $13,638 | $139 | 27% | 4.7★ (7) | 236 ft | Airbnb |
Pigeon Forge Condo, Off the Parkway Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $26,898 | $225 | 33% | 4.3★ (37) | 246 ft | AirbnbVrboBooking |
Riverfront Condo | Pool + Balcony Views Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $46,752 | $230 | 56% | 4.5★ (88) | 246 ft | AirbnbVrboBooking |
2 Bedroom Condo, Minutes from Dollywood Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $33,642 | $224 | 41% | 4.5★ (36) | 246 ft | AirbnbVrboBooking |
Little Pigeon River 508-2br W/fireplace & Jacuzzi Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $17,172 | $261 | 18% | — | 246 ft | Delisted |
River View, Close to Parkway, Dollywood Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $17,580 | $224 | 22% | 4.1★ (11) | 246 ft | AirbnbVrboBooking |
2 Bedroom Condo | Minutes from Dollywood Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $18,727 | $224 | 23% | 4.6★ (35) | 246 ft | AirbnbVrboBooking |
Top Floor Riverfront Condo 603 | Balcony | Views Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $22,695 | $198 | 31% | 4.5★ (18) | 246 ft | AirbnbVrboBooking |
Smoky Mountains 107 2bd Condo with Fireplace Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $29,534 | $250 | 32% | — | 246 ft | Delisted |
204 2-Bedroom House | 2 bd · 2 ba · sleeps 4 | $13,917 | $261 | 15% | — | 246 ft | Delisted |
Charming Condo, River Views, Sleep 6, Fireplace, P Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $20,866 | $159 | 36% | 4.5★ (11) | 246 ft | AirbnbVrboBooking |
Riverfront Condo, Sleeps 6・Shared Pool・Fireplace Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $18,947 | $149 | 35% | 3.5★ (21) | 246 ft | AirbnbVrboBooking |
2 Bedroom Condo, Right off the Parkway Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $24,693 | $223 | 30% | 4★ (53) | 246 ft | AirbnbVrboBooking |
Pigeon Forge Condo, Minutes from Dollywood Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $43,665 | $230 | 52% | 5★ (8) | 246 ft | AirbnbVrbo |
River View Near Parkway & Dollywood House
| 2 bd · 2 ba · sleeps 4 | $23,217 | $215 | 30% | 4.8★ (6) | 246 ft | AirbnbVrbo |
Renovated 102 2bd Condo with Riverview Balcony Condominium (condo) | 2 bd · 2 ba · sleeps 4 | $10,131 | $316 | 9% | 3★ (1) | 246 ft | Delisted |
2 Bedroom Condo, Middle of Pigeon Forge Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $28,616 | $222 | 35% | 4.3★ (34) | 246 ft | AirbnbVrboBooking |
Ground Floor Condo 101 | Walk to Parkway Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $28,817 | $232 | 34% | 4.3★ (40) | 246 ft | AirbnbVrboBooking |
Smoky Mountains 603 2bd W/ Balcony & Jacuzzi Tub Condominium (condo) | 2 bd · 2 ba · sleeps 4 | $14,598 | $210 | 19% | 5★ (2) | 246 ft | Delisted |
Riverfront Condo w/ Balcony, Mins to Parkway Condominium (condo) | 2 bd · 2 ba · sleeps 4 | $35,421 | $184 | 53% | 4.8★ (352) | 246 ft | AirbnbBooking |
Amazing River views, near all Pigeon Forge Offers! Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $36,202 | $175 | 57% | 4.8★ (295) | 246 ft | AirbnbVrbo |
Little Pigeon River 501. 2br W/ Mt. View & Balcony Condominium (condo) | 2 bd · 2 ba · sleeps 4 | $29,792 | $254 | 32% | 5★ (1) | 246 ft | Delisted |
Smoky Mountains 304 2br Condo W/balcony &Fireplace Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $30,994 | $235 | 36% | 5★ (275) | 246 ft | AirbnbVrbo |
Attractive 504 2bd Condo W/ Balcony & Jacuzzi Tub Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $8,365 | $379 | 6% | 3★ (1) | 246 ft | Delisted |
Little Pigeon River 602 2br Condo W/ Balcony Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $8,889 | $236 | 10% | 5★ (1) | 246 ft | Airbnb |
Little Pigeon River 401 2bd Condo with Jacuzzi Tub Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $32,642 | $250 | 36% | — | 246 ft | Delisted |
Smoky Mountains 101-2br Condo W/fireplace& Balcony Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $22,746 | $249 | 25% | — | 246 ft | Delisted |
Smoky Mountains 205 2bd Condo with Private Balcony Condominium (condo) | 2 bd · 2 ba · sleeps 6 | $10,965 | $256 | 12% | — | 246 ft | Delisted |
2Bedroom Condo Right in the Heart of Pigeon Forge! Condominium (condo)
| 2 bd · 2 ba · sleeps 6 | $34,369 | $175 | 54% | 4.9★ (274) | 246 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
Est. revenue
$28,492
NOI
$10,337
Cash flow /mo
$861
Cash needed
$348,800
Cash-on-cash (all cash)
3.0%
ROE (yr 1)
5.7%
Cap rate
3.2%
DSCR
—
Year-1 write-off
$64,525
Year-1 tax shield @ 32%
$20,648
Year-1 return on equity
- Cash flow (annual)$10,337
- Principal paydown (n/a, cash)$0
- Appreciation at%$9,600
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)$5,698
- Platform fees (3% of revenue)$855
- Maintenance / capex (5% of revenue)$1,425
- Utilities & supplies$4,200
- HOA$3,000
- Property tax$1,057
- Insurance (STR-rated)$1,920
Cash needed to close
- Purchase price (all cash)$320,000
- Closing costs (4.0%)$12,800
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$20,648
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
$220,000
Short-life (5/15-yr)
$48,000 · 22%
Year-1 deduction
$65,000
Year-1 tax shield @ 32%
$21,000
Land 31% (county tax record, market value split) · building $172,000 over 39 years · new furniture $16,000
Based on: 992 sq ft, built 1990, 2 bd / 2 ba, unfurnished, listing features (pool, deck, fireplace, flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $44,000 in year 1 (13% short-life, $14,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $9,500
Kitchen cabinetsdefault
$8,000 new × 40% good × 2.96 allocation
- $7,700
Kitchen countertopsdefault
$6,500 new × 40% good × 2.96 allocation
- $2,100
Decorative trimdefault
$1,700 new × 40% good × 2.96 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 2.96 allocation
- $1,100
Shelvingdefault
$900 new × 40% good × 2.96 allocation
- $3,000
Window coverings (10)default
$2,500 new × 40% good × 2.96 allocation
- $3,800
Carpet, vinyl & laminate (50% of floors)listing
$3,200 new × 40% good × 2.96 allocation
- $7,400
Kitchen & laundry equipment plumbingdefault
$6,200 new × 40% good × 2.96 allocation
- $4,400
Kitchen, laundry & data equipment electricaldefault
$3,800 new × 40% good × 2.96 allocation
- $9,100
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 2.96 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $127,100
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$107,200 new × 40% good × 2.96 allocation
- $13,200
Building plumbing & fixturesdefault
$11,100 new × 40% good × 2.96 allocation
- $11,700
Building electrical & lightingdefault
$9,800 new × 40% good × 2.96 allocation
- $13,200
HVACdefault
$11,200 new × 40% good × 2.96 allocation
- $3,800
Hardwood & tile floorsdefault
$3,200 new × 40% good × 2.96 allocation
- $3,100
Fireplacelisting
$2,600 new × 40% good × 2.96 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $64,300 | $0 | $200 | $64,500 |
| 2 | $0 | $0 | $4,400 | $4,400 |
| 3 | $0 | $0 | $4,400 | $4,400 |
| 4 | $0 | $0 | $4,400 | $4,400 |
| 5 | $0 | $0 | $4,400 | $4,400 |
| 6+ | $0 | $0 | $154,200 | $154,200 |
| Total | $64,300 | $0 | $172,000 | $236,400 |
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.