1640 Falls Way
Pigeon Forge, TN 37863
$579,000
4 bd · 2 ba · 1,504 sqft · Listed 1d ago
View on Realtor.com →Year built
2020
Sqft
1,504
Lot sqft
8,712
HOA / mo
$180
Furnished
No
List date
2026-11-01T00:27:46.000000Z
Revenue
Annual revenue
$66,585
ADR
$345
Occupancy
53%
Cleaning fees (12 mo)
$10,034
Confidence
Low (47.48), 23 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $62,672
It's a Wonderful Life Make Every Moment Count
Chalet · 4 bd · 2 ba · sleeps 9 · 0.2 mi
Revenue $62,672ADR $290Occ ≈ 59%4.5★ (1)
Smoky Mountain Retreat- Resort Cabin with modern amenities in the heart of PF
Vacation home · 4 bd · 3 ba · sleeps 10 · 0.2 mi
Revenue $45,211ADR $337Occ ≈ 37%5★ (9)
Saving Grace Where the Mountains Save the Day
Chalet · 4 bd · 3 ba · sleeps 10 · 0.5 mi
Revenue $53,924ADR $381Occ ≈ 39%4★ (1)
Large 4 Bedroom Home - In the Heart of Pigeon Forge
House · 4 bd · 3 ba · sleeps 12 · 0.6 mi
Revenue $4,185ADR $352Occ ≈ 3%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Dollywood | Hot Tub | Arcade | 3 Kings | Comm Pool Cabin | 4 bd · 3 ba · sleeps 10 | $104,617 | $559 | 51% | 4.9★ (258) | 269 ft | AirbnbVrbo |
4BD/2BH-Pool Community-Hottub-4xParking-Wifi Cabin | 4 bd · 2 ba · sleeps 12 | $82,861 | $274 | 83% | 4.9★ (276) | 0.1 mi | AirbnbVrboBooking |
Starwood | By Bear Camp Cabin | 4 bd · 2 ba · sleeps 12 | $50,306 | $282 | 49% | 4★ (10) | 0.1 mi | AirbnbVrboBooking |
Yourcation® Awaits in Stunning Cabin by Dollywood! Cabin | 4 bd · 3 ba · sleeps 13 | $77,712 | $494 | 43% | 5★ (223) | 0.1 mi | AirbnbVrbo |
It's a Wonderful Life Make Every Moment Count Chalet | 4 bd · 2 ba · sleeps 9 | $62,672 | $290 | 59% | 4.5★ (1) | 0.2 mi | Booking |
Smoky Mountain Retreat- Resort Cabin with modern amenities in the heart of PF Vacation home | 4 bd · 3 ba · sleeps 10 | $45,211 | $337 | 37% | 5★ (9) | 0.2 mi | Booking |
Saving Grace Where the Mountains Save the Day Chalet | 4 bd · 3 ba · sleeps 10 | $53,924 | $381 | 39% | 4★ (1) | 0.5 mi | Booking |
Sleeps 10-12 Close to Dollywood! Pet Friendly! House | 4 bd · 3 ba · sleeps 12 | $32,645 | $354 | 25% | 4.8★ (67) | 0.5 mi | AirbnbVrboBooking |
Private Hot Tub Games & Theater Rm Near Dollywood! House | 4 bd · 3 ba · sleeps 12 | $80,427 | $323 | 68% | 4.8★ (47) | 0.6 mi | AirbnbVrbo |
Large 4 Bedroom Home - In the Heart of Pigeon Forge House | 4 bd · 3 ba · sleeps 12 | $4,185 | $352 | 3% | — | 0.6 mi | Vrbo |
Show 3 more
Mountain Views! Hot Tub| Close to Dollywood! Game
Cabin · 4 bd · 3 ba · sleeps 12 · 0.6 mi
Revenue $99,330ADR $382Occ ≈ 71%4.9★ (196)
A Splash Country #2445
Vacation home · 4 bd · 2 ba · sleeps 10 · 0.7 mi
Revenue $42,555ADR $442Occ ≈ 26%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Mountain Views! Hot Tub| Close to Dollywood! Game Cabin | 4 bd · 3 ba · sleeps 12 | $99,330 | $382 | 71% | 4.9★ (196) | 0.6 mi | Airbnb |
A Splash Country #2445 Vacation home | 4 bd · 2 ba · sleeps 10 | $42,555 | $442 | 26% | — | 0.7 mi | Booking |
Bryan's Brookside Bungalow w/ Hot tub & Pet Area House | 4 bd · 3 ba · sleeps 12 | $84,615 | $479 | 48% | 4.9★ (171) | 0.7 mi | 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
Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium
Est. revenue
$66,585
NOI
$35,454
Cash flow /mo
-$229
Cash needed
$190,910
Cash-on-cash
-1.4%
ROE (yr 1)
9.6%
Cap rate
6.1%
DSCR
0.93
Year-1 write-off
$142,249
Year-1 tax shield @ 32%
$45,520
Year-1 return on equity
- Cash flow (annual)-$2,746
- Principal paydown$3,635
- Appreciation at%$17,370
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)$13,317
- Platform fees (3% of revenue)$1,998
- Maintenance / capex (5% of revenue)$3,329
- Utilities & supplies$4,200
- HOA$2,160
- Property tax$2,653
- Insurance (STR-rated)$3,474
Cash needed to close
- Down payment (25%)$144,750
- Closing costs (4.0%)$23,160
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$45,520
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
$492,000
Short-life (5/15-yr)
$119,000 · 24%
Year-1 deduction
$142,000
Year-1 tax shield @ 32%
$46,000
Land 15% (market default, no usable tax-record split) · building $373,000 over 39 years · new furniture $23,000
Based on: 1,504 sq ft, built 2020, 4 bd / 2 ba, unfurnished, listing features (hot tub, deck, fireplace, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $89,000 in year 1 (13% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $13,300
Kitchen cabinetsdefault
$9,100 new × 76% good × 1.93 allocation
- $10,900
Kitchen countertopsdefault
$7,400 new × 76% good × 1.93 allocation
- $3,900
Decorative trimdefault
$2,600 new × 76% good × 1.93 allocation
- $300
Mirrorsdefault
$300 new × 50% good × 1.93 allocation
- $2,200
Shelvingdefault
$1,500 new × 76% good × 1.93 allocation
- $2,900
Window coverings (15)default
$3,800 new × 40% good × 1.93 allocation
- $3,700
Carpet, vinyl & laminate (40% of floors)default
$3,900 new × 50% good × 1.93 allocation
- $12,000
Kitchen & laundry equipment plumbingdefault
$7,100 new × 88% good × 1.93 allocation
- $7,300
Kitchen, laundry & data equipment electricaldefault
$4,300 new × 88% good × 1.93 allocation
- $7,400
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 50% good × 1.93 allocation
- $6,900
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.93 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $11,800
Paving: driveway & walks (paved)default
$8,000 new × 76% good × 1.93 allocation
- $11,300
Landscaping (typical)default
$7,700 new × 76% good × 1.93 allocation
- $2,200
Patiosdefault
$1,500 new × 76% good × 1.93 allocation
- $22,800
Decks & porches (attached)listing
$16,900 new × 70% good × 1.93 allocation
- $281,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$162,500 new × 90% good × 1.93 allocation
- $28,600
Building plumbing & fixturesdefault
$16,900 new × 88% good × 1.93 allocation
- $27,700
Building electrical & lightingdefault
$16,300 new × 88% good × 1.93 allocation
- $22,800
HVACdefault
$16,900 new × 70% good × 1.93 allocation
- $8,500
Hardwood & tile floorsdefault
$5,800 new × 76% good × 1.93 allocation
- $3,900
Fireplacelisting
$2,600 new × 76% good × 1.93 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $93,800 | $48,100 | $400 | $142,200 |
| 2 | $0 | $0 | $9,600 | $9,600 |
| 3 | $0 | $0 | $9,600 | $9,600 |
| 4 | $0 | $0 | $9,600 | $9,600 |
| 5 | $0 | $0 | $9,600 | $9,600 |
| 6+ | $0 | $0 | $334,600 | $334,600 |
| Total | $93,800 | $48,100 | $373,300 | $515,100 |
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.