616 Turkey Nest Rd Apt 311
Gatlinburg, TN 37738
$440,000
3 bd · 3 ba · 1,135 sqft · Listed 9d ago
View on Realtor.com →Year built
1985
Sqft
1,135
Lot sqft
436
HOA / mo
$195
Furnished
No
List date
2026-11-03T15:55:14.000000Z
Revenue
Annual revenue
$47,516
ADR
$239
Occupancy
54%
Cleaning fees (12 mo)
$6,180
Confidence
Med (55.07), 50 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $41,728
Mountain Calling - Resort Pool, WIFIO, 560 FREE tickets each paid day!!!
Vacation home · 3 bd · 3 ba · sleeps 8 · 0 ft
Revenue $47,189ADR $247Occ ≈ 52%4.1★ (4)
Awesome view and location! 10min walk to DNTWN
Apartment · 3 bd · 3 ba · sleeps 8 · 52 ft
Revenue $2,765ADR $921Occ ≈ 1%4.8★ (32)
Delisted
Beautiful 3 bedroom condo only a half a mile from downtown near Aquarium.
Condominium (condo) · 3 bd · 2 ba · sleeps 6 · 174 ft
- Pool
- A/C
- Free parking
- Wifi
- +4
Revenue $24,445ADR $192Occ ≈ 35%4.9★ (250)
Serene Views Community Pool
Vacation home · 3 bd · 3 ba · sleeps 6 · 177 ft
Revenue $41,862ADR $190Occ ≈ 60%4★ (4)
Over Gatlinburg Condo
Vacation home · 3 bd · 2 ba · sleeps 6 · 177 ft
Revenue $16,842ADR $165Occ ≈ 28%3★ (2)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Mountain Calling - Resort Pool, WIFIO, 560 FREE tickets each paid day!!! Vacation home | 3 bd · 3 ba · sleeps 8 | $47,189 | $247 | 52% | 4.1★ (4) | 0 ft | Booking |
Mountain Calling, $560 FREE tickets each paid day Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $38,623 | $212 | 50% | 4.5★ (11) | 16 ft | AirbnbVrbo |
Awesome view and location! 10min walk to DNTWN Apartment | 3 bd · 3 ba · sleeps 8 | $2,765 | $921 | 1% | 4.8★ (32) | 52 ft | Delisted |
Smoky Mtn View Escape | 3BR/3BA Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $45,039 | $253 | 49% | 4.8★ (31) | 56 ft | AirbnbVrbo |
Spacious Condo with Pool & Stunning Views Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $41,594 | $212 | 54% | 4.5★ (71) | 171 ft | AirbnbVrbo |
Beautiful 3 bedroom condo only a half a mile from downtown near Aquarium. Condominium (condo)
| 3 bd · 2 ba · sleeps 6 | $24,445 | $192 | 35% | 4.9★ (250) | 174 ft | Vrbo |
Serene Views Community Pool Vacation home | 3 bd · 3 ba · sleeps 6 | $41,862 | $190 | 60% | 4★ (4) | 177 ft | Booking |
Over Gatlinburg Condo Vacation home | 3 bd · 2 ba · sleeps 6 | $16,842 | $165 | 28% | 3★ (2) | 177 ft | Booking |
Game Room, Hot Tub & Views | Perfect by AvantStay Cabin
| 3 bd · 3 ba · sleeps 8 | $94,284 | $352 | 73% | 4.5★ (17) | 476 ft | AirbnbVrboBooking |
Farmhouse in the Burg - NEW! Firepit & Wi-Fi Cabin
| 3 bd · 3 ba · sleeps 8 | $61,298 | $361 | 47% | 4.2★ (43) | 0.1 mi | AirbnbVrboBooking |
Show 34 more
Blue Bird Hideaway - A 10 - min walk to downtown
House · 3 bd · 3 ba · sleeps 8 · 0.1 mi
Revenue $69,466ADR $346Occ ≈ 55%5★ (84)
Red Oak Hideaway - Walkable to Downtown Gatlinburg
House · 3 bd · 3 ba · sleeps 6 · 0.2 mi
Revenue $48,724ADR $326Occ ≈ 41%4.8★ (74)
Heart Of Gatlinburg by American Patriot Getaways
Apartment · 3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue $45,014ADR $229Occ ≈ 54%4★ (2)
Red Oak Hideaway Walk Right Into Gatlinburg
Chalet · 3 bd · 3 ba · sleeps 6 · 0.2 mi
Revenue $61,925ADR $309Occ ≈ 55%—
Blue Bird Hideaway Find Your Happy Place
Chalet · 3 bd · 3 ba · sleeps 6 · 0.2 mi
Revenue $35,240ADR $318Occ ≈ 30%—
Deer Field Downtown Gatlinburg at Your Door
Vacation home · 3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue $29,376ADR $169Occ ≈ 48%4.6★ (5)
Midtown Bears Den Downtown Gatlinburg Awaits
Vacation home · 3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue $33,727ADR $177Occ ≈ 52%4.5★ (2)
Game Room, Hot Tub & Views | Perfect by AvantStay
House · 3 bd · 3 ba · sleeps 8 · 0.2 mi
Revenue $13,432ADR $586Occ ≈ 6%—
Delisted
Game Room, Hot Tub & Mountain Views | Perfect Too
House · 3 bd · 3 ba · sleeps 8 · 0.2 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +4
Revenue $8,972ADR $640Occ ≈ 4%5★ (1)
Condo Located in Gatlinburg! Private Balcony!
Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 0.3 mi
Revenue $37,685ADR $236Occ ≈ 44%3.5★ (52)
Uptown Gatlinburg Getaway
Vacation home · 3 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue $19,536ADR $212Occ ≈ 25%5★ (1)
Laurel Inn Condominiums - Black Bear Boogie
Apartment · 3 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue $31,095ADR $292Occ ≈ 29%—
Downtown 3BR Condo w/ Free Attraction Tickets
Condominium (condo) · 3 bd · 3 ba · sleeps 8 · 0.3 mi
Revenue $33,155ADR $258Occ ≈ 35%4.8★ (134)
Downtown Gatlinburg Prime location walk everywhere in Gatlinburg3Bed3Bath Sleeps 8
Vacation home · 3 bd · 3 ba · sleeps 8 · 0.3 mi
Revenue $75,940ADR $269Occ ≈ 77%4★ (1)
Downtown Gatlinburg3Bdrm3BathWalk to center of town in Minutes
Vacation home · 3 bd · 3 ba · sleeps 6 · 0.3 mi
Revenue $56,640ADR $227Occ ≈ 68%5★ (2)
5 Star LUXURY 3BR3BATH Downtown Gatlinburg WALK EVERYWHERE Sleeps 6
Vacation home · 3 bd · 3 ba · sleeps 6 · 0.3 mi
Revenue $44,222ADR $229Occ ≈ 53%—
Downtown GatlinburgWalk to Strip3 Bedroom3BathroomPoolMinutes to Anakeesta at Traffic Light #6
Vacation home · 3 bd · 3 ba · sleeps 6 · 0.3 mi
Revenue $42,408ADR $225Occ ≈ 52%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
CITY 🏙 & MOUNTAIN 🏔 VIEW. 5 Mins from downtown. Condominium (condo)
| 3 bd · 2 ba · sleeps 7 | $16,734 | $249 | 18% | 4.7★ (110) | 0.1 mi | AirbnbBooking |
Game Room, Hot Tub & Mountain Views | Perfect Too Cabin
| 3 bd · 3 ba · sleeps 8 | $82,375 | $345 | 65% | 4.7★ (25) | 0.1 mi | AirbnbVrboBooking |
Red Oak Hideaway: Walk Right Into Gatlinburg Cabin
| 3 bd · 3 ba · sleeps 6 | $40,684 | $360 | 31% | 4.4★ (3) | 0.1 mi | AirbnbVrbo |
Blue Bird Hideaway - A 10 - min walk to downtown House | 3 bd · 3 ba · sleeps 8 | $69,466 | $346 | 55% | 5★ (84) | 0.1 mi | Airbnb |
City Bear Lodge | Dwtn Gatlinburg Hot Tub + Games Cabin
| 3 bd · 3 ba · sleeps 8 | $72,075 | $372 | 53% | 5★ (34) | 0.2 mi | AirbnbVrboBooking |
Red Oak Hideaway - Walkable to Downtown Gatlinburg House | 3 bd · 3 ba · sleeps 6 | $48,724 | $326 | 41% | 4.8★ (74) | 0.2 mi | Airbnb |
Blue Bird Hideaway: Find Your Happy Place Cabin
| 3 bd · 3 ba · sleeps 6 | $39,449 | $365 | 30% | 4★ (2) | 0.2 mi | AirbnbVrbo |
Heart Of Gatlinburg by American Patriot Getaways Apartment | 3 bd · 2 ba · sleeps 6 | $45,014 | $229 | 54% | 4★ (2) | 0.2 mi | Booking |
Red Oak Hideaway Walk Right Into Gatlinburg Chalet | 3 bd · 3 ba · sleeps 6 | $61,925 | $309 | 55% | — | 0.2 mi | Booking |
Blue Bird Hideaway Find Your Happy Place Chalet | 3 bd · 3 ba · sleeps 6 | $35,240 | $318 | 30% | — | 0.2 mi | Booking |
Deer Field Downtown Gatlinburg at Your Door Vacation home | 3 bd · 2 ba · sleeps 6 | $29,376 | $169 | 48% | 4.6★ (5) | 0.2 mi | Booking |
Midtown Bears Den Downtown Gatlinburg Awaits Vacation home | 3 bd · 2 ba · sleeps 6 | $33,727 | $177 | 52% | 4.5★ (2) | 0.2 mi | Booking |
In Gatlinburg | Walk to the Strip Cabin
| 3 bd · 3 ba · sleeps 9 | $37,418 | $311 | 33% | 4.2★ (7) | 0.2 mi | AirbnbVrbo |
Game Room, Hot Tub & Views | Perfect by AvantStay House | 3 bd · 3 ba · sleeps 8 | $13,432 | $586 | 6% | — | 0.2 mi | Delisted |
Spacious 3BR Condo Walk to Downtown Gatlinburg Condominium (condo)
| 3 bd · 2 ba · sleeps 8 | $56,408 | $398 | 39% | 4.5★ (2) | 0.2 mi | AirbnbVrbo |
Hibernation Station At Baskins Creek Gatlinburg Townhouse
| 3 bd · 3 ba · sleeps 8 | $60,112 | $275 | 60% | 5★ (150) | 0.2 mi | AirbnbVrbo |
Downtown Spacious Townhome sleeps 6 guests, WIFI Condominium (condo)
| 3 bd · 3 ba · sleeps 6 | $44,447 | $213 | 57% | 4.8★ (248) | 0.2 mi | AirbnbVrboBooking |
Game Room, Hot Tub & Mountain Views | Perfect Too House
| 3 bd · 3 ba · sleeps 8 | $8,972 | $640 | 4% | 5★ (1) | 0.2 mi | Airbnb |
Fall in Gatlinburg | Pool + Dinner Show Tickets Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $31,256 | $195 | 44% | 4.1★ (44) | 0.3 mi | AirbnbVrbo |
Condo Located in Gatlinburg! Private Balcony! Condominium (condo) | 3 bd · 3 ba · sleeps 8 | $37,685 | $236 | 44% | 3.5★ (52) | 0.3 mi | Airbnb |
Uptown Gatlinburg Getaway Vacation home | 3 bd · 2 ba · sleeps 6 | $19,536 | $212 | 25% | 5★ (1) | 0.3 mi | Booking |
Laurel Inn Condominiums - Black Bear Boogie Apartment | 3 bd · 2 ba · sleeps 6 | $31,095 | $292 | 29% | — | 0.3 mi | Booking |
3rdfl,3 ensuite, wlk DWTN, K Bd master, pool, view Condominium (condo)
| 3 bd · 3 ba · sleeps 6 | $20,804 | $207 | 28% | 4.9★ (38) | 0.3 mi | AirbnbVrbo |
Holly Ridge 405 | Privacy + Near Gatlinburg Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $41,447 | $197 | 58% | 4.9★ (24) | 0.3 mi | AirbnbVrbo |
Downtown 3BR Condo w/ Free Attraction Tickets Condominium (condo) | 3 bd · 3 ba · sleeps 8 | $33,155 | $258 | 35% | 4.8★ (134) | 0.3 mi | Airbnb |
Downtown Gatlinburg 3Bd/3Ba~7 Minutes to Anakeesta Condominium (condo)
| 3 bd · 3 ba · sleeps 6 | $40,399 | $229 | 48% | 5★ (33) | 0.3 mi | AirbnbVrbo |
Mountain View | Walkable to Downtown Gatlinburg! Townhouse
| 3 bd · 3 ba · sleeps 8 | $76,083 | $283 | 74% | 5★ (116) | 0.3 mi | AirbnbVrbo |
Downtown Gatlinburg~ 3Bed~3Bath~Walk to Strip Condominium (condo)
| 3 bd · 3 ba · sleeps 6 | $57,287 | $240 | 65% | 4.9★ (51) | 0.3 mi | AirbnbVrbo |
Downtown Gatlinburg ~3 BD ~3 Bath ~Walk to Town Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $51,813 | $228 | 62% | 4.9★ (54) | 0.3 mi | AirbnbVrbo |
Location! Location! Location! Downtown Gatlinburg Condominium (condo)
| 3 bd · 3 ba · sleeps 8 | $60,284 | $279 | 59% | 4.8★ (355) | 0.3 mi | AirbnbVrbo |
Downtown Gatlinburg Prime location walk everywhere in Gatlinburg3Bed3Bath Sleeps 8 Vacation home | 3 bd · 3 ba · sleeps 8 | $75,940 | $269 | 77% | 4★ (1) | 0.3 mi | Booking |
Downtown Gatlinburg3Bdrm3BathWalk to center of town in Minutes Vacation home | 3 bd · 3 ba · sleeps 6 | $56,640 | $227 | 68% | 5★ (2) | 0.3 mi | Booking |
5 Star LUXURY 3BR3BATH Downtown Gatlinburg WALK EVERYWHERE Sleeps 6 Vacation home | 3 bd · 3 ba · sleeps 6 | $44,222 | $229 | 53% | — | 0.3 mi | Booking |
Downtown GatlinburgWalk to Strip3 Bedroom3BathroomPoolMinutes to Anakeesta at Traffic Light #6 Vacation home | 3 bd · 3 ba · sleeps 6 | $42,408 | $225 | 52% | — | 0.3 mi | Booking |
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 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium
Est. revenue
$47,516
NOI
$24,196
Cash flow /mo
-$389
Cash needed
$147,100
Cash-on-cash
-3.2%
ROE (yr 1)
7.7%
Cap rate
5.5%
DSCR
0.84
Year-1 write-off
$93,177
Year-1 tax shield @ 32%
$29,817
Year-1 return on equity
- Cash flow (annual)-$4,669
- Principal paydown$2,795
- Appreciation at%$13,200
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)$9,503
- Platform fees (3% of revenue)$1,425
- Maintenance / capex (5% of revenue)$2,376
- Utilities & supplies$4,200
- HOA$2,340
- Property tax$836
- Insurance (STR-rated)$2,640
Cash needed to close
- Down payment (25%)$110,000
- Closing costs (4.0%)$17,600
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$29,817
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
$381,000
Short-life (5/15-yr)
$73,000 · 19%
Year-1 deduction
$93,000
Year-1 tax shield @ 32%
$30,000
Land 13% (county tax record, market value split) · building $308,000 over 39 years · new furniture $20,000
Based on: 1,135 sq ft, built 1985, 3 bd / 3 ba, unfurnished, listing features (fireplace, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $59,000 in year 1 (10% short-life, $19,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $15,300
Kitchen cabinetsdefault
$8,300 new × 40% good × 4.62 allocation
- $12,500
Kitchen countertopsdefault
$6,800 new × 40% good × 4.62 allocation
- $3,700
Decorative trimdefault
$2,000 new × 40% good × 4.62 allocation
- $800
Mirrorsdefault
$500 new × 40% good × 4.62 allocation
- $2,200
Shelvingdefault
$1,200 new × 40% good × 4.62 allocation
- $5,100
Window coverings (11)default
$2,800 new × 40% good × 4.62 allocation
- $5,400
Carpet, vinyl & laminate (40% of floors)default
$2,900 new × 40% good × 4.62 allocation
- $11,900
Kitchen & laundry equipment plumbingdefault
$6,400 new × 40% good × 4.62 allocation
- $7,200
Kitchen, laundry & data equipment electricaldefault
$3,900 new × 40% good × 4.62 allocation
- $9,200
Appliances (range, dishwasher, refrigerator)listing
$5,000 new × 40% good × 4.62 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $225,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$122,400 new × 40% good × 4.62 allocation
- $23,500
Building plumbing & fixturesdefault
$12,700 new × 40% good × 4.62 allocation
- $21,500
Building electrical & lightingdefault
$11,700 new × 40% good × 4.62 allocation
- $23,600
HVACdefault
$12,800 new × 40% good × 4.62 allocation
- $8,100
Hardwood & tile floorsdefault
$4,400 new × 40% good × 4.62 allocation
- $4,900
Fireplacelisting
$2,600 new × 40% good × 4.62 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $92,800 | $0 | $300 | $93,200 |
| 2 | $0 | $0 | $7,900 | $7,900 |
| 3 | $0 | $0 | $7,900 | $7,900 |
| 4 | $0 | $0 | $7,900 | $7,900 |
| 5 | $0 | $0 | $7,900 | $7,900 |
| 6+ | $0 | $0 | $275,600 | $275,600 |
| Total | $92,800 | $0 | $307,500 | $400,400 |
The building's share of the price ($381,000) is 4.6x our depreciated replacement cost of the home ($83,000). 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.