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Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium

1654 Veterans Blvd Unit 23

1654 Veterans Blvd Unit 23

Sevierville, TN 37876

$574,900

3 bd · 3 ba · 2,240 sqft · Listed 1d ago

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

Year built

2022

Sqft

2,240

Lot sqft

—

HOA / mo

$189

Furnished

No

List date

2026-10-10T12:44:44.000000Z

Revenue

Annual revenue

$59,460

ADR

$238

Occupancy

68%

Cleaning fees (12 mo)

$12,902

Confidence

Med (59.58), 20 comps

Comp revenue range (p25 / median / p75)

$47,705$62,444$73,755

Median revenue of shown comps: $62,444

  • Barrstone Ranch · ★Yellowstone Themed Cabin/Theater/GameRoom/HotTub★

    Cabin · 3 bd · 3 ba · sleeps 7 · 43 ft

    Revenue $43,106ADR $277Occ ≈ 43%5★ (3)

    Delisted

  • Modern | Location! | Theater-Arcade | Hot Tub

    Cabin · 3 bd · 3 ba · sleeps 8 · 69 ft

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

    Revenue $52,632ADR $267Occ ≈ 54%5★ (22)

    AirbnbVrbo

  • SkyDeck 43 near Dollywood with Rooftop Hot Tub

    Cabin · 3 bd · 3.5 ba · sleeps 10 · 157 ft

    Revenue $35,342ADR $258Occ ≈ 38%4.8★ (19)

    AirbnbVrbo

  • Dollywood | Bunks w/ Slide | Game Room | Hot Tub

    Cabin · 3 bd · 2.5 ba · sleeps 10 · 157 ft

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

    Revenue $69,673ADR $303Occ ≈ 63%5★ (144)

    AirbnbVrbo

  • Free Dollywood Tix/DogsOK/10Min2Dollywood

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 187 ft

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

    Revenue $59,729ADR $280Occ ≈ 58%5★ (89)

    AirbnbVrbo

  • Free Dollywood Tix/10Min2Dollywood/DogsOK

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 217 ft

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

    Revenue $61,956ADR $279Occ ≈ 61%5★ (95)

    AirbnbVrbo

  • Into the Mystic - Chic decor, hot tub, & game room

    Cabin · 3 bd · 2 ba · sleeps 9 · 259 ft

    Revenue $71,462ADR $312Occ ≈ 63%4.8★ (44)

    Airbnb

  • ★Yellowstone Themed Cabin/Theater/GameRoom/HotTub★

    Cabin · 3 bd · 3 ba · sleeps 8 · 361 ft

    Revenue $58,925ADR $245Occ ≈ 66%4.8★ (83)

    AirbnbBooking

  • Modern Retreat | Hot Tub, Game Loft & Easy Access

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 377 ft

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

    Revenue $49,238ADR $226Occ ≈ 60%4.8★ (170)

    AirbnbVrbo

  • Paved Roads | Mins to Dollywood | Hot-Tub | Pets

    Cabin · 3 bd · 2.5 ba · sleeps 9 · 381 ft

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

    Revenue $62,932ADR $259Occ ≈ 67%4.8★ (52)

    AirbnbBooking

Show 8 more

  • Free Dollywood Tix/10Min2Dollywood/Theater

    Cabin · 3 bd · 3 ba · sleeps 8 · 440 ft

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

    Revenue $69,776ADR $300Occ ≈ 64%5★ (172)

    AirbnbVrbo

  • 4 Miles to DollyWood! EZ City Drive, View, Sunrise

    Cabin · 3 bd · 3 ba · sleeps 10 · 449 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +7

    Revenue $80,633ADR $367Occ ≈ 60%5★ (185)

    AirbnbVrbo

  • Cabin Goals! Best Location | Pool & Hot Tub • Dogs

    Cabin · 3 bd · 3 ba · sleeps 10 · 0.1 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +7

    Revenue $87,357ADR $428Occ ≈ 56%5★ (168)

    AirbnbVrboBooking

  • "Top Notch" 3 Bedroom Cabin

    House · 3 bd · 3.5 ba · sleeps 10 · 0.1 mi

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

    Revenue $23,133ADR $336Occ ≈ 19%—

    AirbnbVrbo

  • Indoor Pool | Hot Tub | Views | Pets | NERF Wars

    Cabin · 3 bd · 3 ba · sleeps 10 · 0.1 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +7

    Revenue $106,698ADR $461Occ ≈ 63%5★ (183)

    AirbnbVrbo

  • A Song Writers Paradise, Free Tickets, No Catch

    Cabin · 3 bd · 2.5 ba · sleeps 6 · 0.2 mi

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

    Revenue $80,735ADR $329Occ ≈ 67%4.5★ (8)

    AirbnbVrbo

  • A Song Writers Paradise, Hot Tub Once Owned By Dolly Parton

    Chalet · 3 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $88,147ADR $340Occ ≈ 71%5★ (1)

    Booking

  • NEW Dollywood Hills W/HotTub-View-Games-Grill-King

    Cabin · 3 bd · 2.5 ba · sleeps 10 · 0.2 mi

    Revenue $28,967ADR $254Occ ≈ 31%4.8★ (130)

    AirbnbBooking

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 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium

Est. revenue

$59,460

NOI

$29,384

Cash flow /mo

-$760

Cash needed

$192,221

Cash-on-cash

-4.7%

ROE (yr 1)

6.0%

Cap rate

5.1%

DSCR

0.76

Year-1 write-off

$144,738

Year-1 tax shield @ 32%

$46,316

Year-1 return on equity

  • Cash flow (annual)-$9,124
  • Principal paydown$3,496
  • Appreciation at%$17,247
ROE6.0%

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)$11,892
  • Platform fees (3% of revenue)$1,784
  • Maintenance / capex (5% of revenue)$2,973
  • Utilities & supplies$4,200
  • HOA$2,268
  • Property tax$3,510
  • Insurance (STR-rated)$3,449

Cash needed to close

  • Down payment (25%)$143,725
  • Closing costs (4.0%)$22,996
  • Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$46,316

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

$489,000

Short-life (5/15-yr)

$119,000 · 24%

Year-1 deduction

$145,000

Year-1 tax shield @ 32%

$46,000

Land 15% (market default, no usable tax-record split) · building $370,000 over 39 years · new furniture $26,000

Based on: 2,240 sq ft, built 2022, 3 bd / 3 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $93,000 in year 1 (14% short-life, $30,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$96,600

  • Kitchen cabinetsdefault

    $10,700 new × 84% good × 1.25 allocation

    $11,200

  • Kitchen countertopsdefault

    $8,800 new × 84% good × 1.25 allocation

    $9,200

  • Decorative trimdefault

    $3,900 new × 84% good × 1.25 allocation

    $4,100

  • Mirrorsdefault

    $500 new × 67% good × 1.25 allocation

    $400

  • Shelvingdefault

    $1,200 new × 84% good × 1.25 allocation

    $1,300

  • Window coverings (22)default

    $5,500 new × 60% good × 1.25 allocation

    $4,100

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

    $14,400 new × 67% good × 1.25 allocation

    $12,000

  • Kitchen & laundry equipment plumbingdefault

    $8,300 new × 92% good × 1.25 allocation

    $9,600

  • Kitchen, laundry & data equipment electricaldefault

    $5,000 new × 92% good × 1.25 allocation

    $5,800

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

    $8,100 new × 67% good × 1.25 allocation

    $6,700

  • Hot tub (freestanding)listing

    $9,000 new × 60% good × 1.25 allocation

    $6,700

  • Furniture bought newlisting

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

    $19,500

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$47,700

  • Paving: driveway & walks (paved)default

    $9,800 new × 84% good × 1.25 allocation

    $10,300

  • Landscaping (typical)default

    $9,400 new × 84% good × 1.25 allocation

    $9,900

  • Patiosdefault

    $2,200 new × 84% good × 1.25 allocation

    $2,300

  • Decks & porches (attached)listing

    $25,200 new × 80% good × 1.25 allocation

    $25,200
Building, 39-year$369,800

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

    $243,100 new × 93% good × 1.25 allocation

    $283,400

  • Building plumbing & fixturesdefault

    $25,200 new × 92% good × 1.25 allocation

    $29,000

  • Building electrical & lightingdefault

    $25,700 new × 92% good × 1.25 allocation

    $29,500

  • HVACdefault

    $25,200 new × 80% good × 1.25 allocation

    $25,200

  • Fireplacelisting

    $2,600 new × 84% good × 1.25 allocation

    $2,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$96,600$47,700$400$144,700
2$0$0$9,500$9,500
3$0$0$9,500$9,500
4$0$0$9,500$9,500
5$0$0$9,500$9,500
6+$0$0$331,500$331,500
Total$96,600$47,700$369,800$514,200

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.