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Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

1610 Walker Trl Apt 1

1610 Walker Trl Apt 1

Sevierville, TN 37876

$824,999

4 bd · 2 ba · 2,013 sqft · Listed 1d ago

View on Realtor.com →
Negative cash flow

Year built

1990

Sqft

2,013

Lot sqft

87,120

HOA / mo

$0

Furnished

No

List date

2026-10-29T18:05:55.000000Z

Revenue

Annual revenue

$63,730

ADR

$333

Occupancy

52%

Cleaning fees (12 mo)

$11,896

Confidence

Low (44.93), 24 comps

Comp revenue range (p25 / median / p75)

$42,288$55,185$78,893

Median revenue of shown comps: $54,434

  • *Updated*Near Attractions~Dollywood-7 min*Slps 12

    Cabin · 4 bd · 2 ba · sleeps 12 · 394 ft

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $53,263ADR $348Occ ≈ 42%4.8★ (12)

    AirbnbVrbo

  • Cozy Cabin Retreat /HotTub, WiFi, FirePit/12 Guest

    Cabin · 4 bd · 2 ba · sleeps 12 · 0.1 mi

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

    Revenue $46,552ADR $322Occ ≈ 40%4.8★ (137)

    AirbnbVrboBooking

  • Smokey Max Chalet4 beds 2,5 bath sleep 10 people #

    Chalet · 4 bd · 2.5 ba · sleeps 10 · 0.3 mi

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

    Revenue $41,749ADR $363Occ ≈ 32%4.5★ (114)

    AirbnbVrboBooking

  • 10 min to Everything! Firepit, Hot Tub and Private

    Cabin · 4 bd · 3 ba · sleeps 9 · 0.3 mi

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

    Revenue $37,590ADR $399Occ ≈ 26%4.9★ (190)

    AirbnbVrbo

  • A Whole New World: Views*Pets*HotTub*Wifi*Theater

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.3 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $59,329ADR $453Occ ≈ 36%3.5★ (10)

    AirbnbVrbo

  • Stunning VIEWS! Outdoor Fireplace/Hot Tub/Theater

    Cabin · 4 bd · 2 ba · sleeps 9 · 0.3 mi

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

    Revenue $138,709ADR $398Occ ≈ 95%5★ (321)

    AirbnbVrbo

  • Heated Pool~Theater~PuttPutt~Sauna~Arcade~Private

    Cabin · 4 bd · 2 ba · sleeps 12 · 0.3 mi

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

    Revenue $140,520ADR $502Occ ≈ 77%4.9★ (133)

    AirbnbVrbo

  • Beautiful Smoky Mountain Views! | Hot Tub | Games

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $83,404ADR $326Occ ≈ 70%4.8★ (165)

    AirbnbVrbo

  • Glorious Views:Views*Hot Tub* Wifi*Great Location

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.5 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $129,140ADR $584Occ ≈ 61%4.5★ (27)

    AirbnbVrbo

  • Endless View Retreat in Smoky Mountains

    House · 4 bd · 2.5 ba · sleeps 12 · 0.5 mi

    Revenue $12,360ADR $450Occ ≈ 8%5★ (73)

    Airbnb

Show 7 more

  • Grand Mtn Retreat: Views, Hot Tub & Theater

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.5 mi

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

    Revenue $84,923ADR $366Occ ≈ 64%4.8★ (224)

    AirbnbVrbo

  • Mountain Views Retreat|Hot Tub • Views • Game Room

    House · 4 bd · 2.5 ba · sleeps 10 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $57,926ADR $346Occ ≈ 46%5★ (14)

    AirbnbVrbo

  • Mountain Views (Cabin)

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.6 mi

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

    Revenue $52,357ADR $358Occ ≈ 40%4.4★ (29)

    AirbnbVrbo

  • Serenity View! 1.7 Miles From Dollywood! Sleeps 12

    House · 4 bd · 2 ba · sleeps 12 · 0.6 mi

    Revenue $14,777ADR $283Occ ≈ 14%4.8★ (14)

    Delisted

  • Family Times Cabin, wheelchair ramp, sleeps 10,4br

    Cabin · 4 bd · 2 ba · sleeps 10 · 0.6 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +1

    Revenue $37,605ADR $295Occ ≈ 35%4.5★ (16)

    AirbnbVrboBooking

  • Family Escape | VIEWS, Pet Friendly, Game Room

    Cabin · 4 bd · 3 ba · sleeps 9 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $73,927ADR $361Occ ≈ 56%5★ (24)

    AirbnbVrbo

  • Mountain Views: Views*Resort Pool*Hot Tub*Wifi

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.7 mi

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

    Revenue $54,434ADR $376Occ ≈ 40%4★ (1)

    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 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

Est. revenue

$63,730

NOI

$35,877

Cash flow /mo

-$1,546

Cash needed

$262,250

Cash-on-cash

-7.1%

ROE (yr 1)

4.3%

Cap rate

4.3%

DSCR

0.66

Year-1 write-off

$184,207

Year-1 tax shield @ 32%

$58,946

Year-1 return on equity

  • Cash flow (annual)-$18,554
  • Principal paydown$5,179
  • Appreciation at%$24,750
ROE4.3%

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)$12,746
  • Platform fees (3% of revenue)$1,912
  • Maintenance / capex (5% of revenue)$3,187
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$859
  • Insurance (STR-rated)$4,950

Cash needed to close

  • Down payment (25%)$206,250
  • Closing costs (4.0%)$33,000
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$58,946

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

$711,000

Short-life (5/15-yr)

$161,000 · 23%

Year-1 deduction

$184,000

Year-1 tax shield @ 32%

$59,000

Land 14% (county tax record, market value split) · building $551,000 over 39 years · new furniture $23,000

Based on: 2,013 sq ft, built 1990, 4 bd / 2 ba, unfurnished, listing features (flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $136,000 in year 1 (16% short-life, $44,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$132,800

  • Kitchen cabinetsdefault

    $10,200 new × 40% good × 4.57 allocation

    $18,700

  • Kitchen countertopsdefault

    $8,400 new × 40% good × 4.57 allocation

    $15,300

  • Decorative trimdefault

    $3,500 new × 40% good × 4.57 allocation

    $6,400

  • Mirrorsdefault

    $300 new × 40% good × 4.57 allocation

    $500

  • Shelvingdefault

    $1,500 new × 40% good × 4.57 allocation

    $2,700

  • Window coverings (20)default

    $5,000 new × 40% good × 4.57 allocation

    $9,100

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

    $13,000 new × 40% good × 4.57 allocation

    $23,700

  • Kitchen & laundry equipment plumbingdefault

    $7,900 new × 40% good × 4.57 allocation

    $14,500

  • Kitchen, laundry & data equipment electricaldefault

    $4,800 new × 40% good × 4.57 allocation

    $8,800

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

    $5,500 new × 40% good × 4.57 allocation

    $10,100

  • Furniture bought newlisting

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

    $23,000
15-year land improvements$50,800

  • Paving: driveway & walks (paved)default

    $9,300 new × 50% good × 4.57 allocation

    $21,300

  • Landscaping (typical)default

    $8,900 new × 50% good × 4.57 allocation

    $20,400

  • Patiosdefault

    $2,000 new × 50% good × 4.57 allocation

    $4,500

  • Decks & porches (attached)default

    $2,000 new × 50% good × 4.57 allocation

    $4,500
Building, 39-year$550,700

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

    $218,200 new × 40% good × 4.57 allocation

    $398,700

  • Building plumbing & fixturesdefault

    $22,700 new × 40% good × 4.57 allocation

    $41,400

  • Building electrical & lightingdefault

    $22,800 new × 40% good × 4.57 allocation

    $41,700

  • HVACdefault

    $22,700 new × 40% good × 4.57 allocation

    $41,500

  • Septic systemlisting

    $12,000 new × 50% good × 4.57 allocation

    $27,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$132,800$50,800$600$184,200
2$0$0$14,100$14,100
3$0$0$14,100$14,100
4$0$0$14,100$14,100
5$0$0$14,100$14,100
6+$0$0$493,600$493,600
Total$132,800$50,800$550,700$734,300

The building's share of the price ($711,000) is 4.6x our depreciated replacement cost of the home ($156,000). 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.