Southeast9.4% avg cap rate

Gatlinburg, TN

Great Smoky Mountains gateway — year-round demand

Gatlinburg sits at the entrance to Great Smoky Mountains National Park — the most-visited national park in the US with 12M+ annual visitors. Unlike beach markets, Gatlinburg runs nearly year-round: peak summer hiking, fall foliage, winter ski/holiday, and spring wildflower season. Cabin inventory dominates and strong occupancy metrics translate to exceptional cap rates.

9.4%
Avg Cap Rate
Net operating income / price
74%
Avg Occupancy
Annual average
$310
Avg Nightly Rate
All property types
$465K
Median Price
STR-viable properties

Estimated Annual Performance

Gross rental revenue
74% occ × $310/night
$83,731
Est. operating expenses
Mgmt, cleaning, supplies, insurance (~40%)
– $33,492
Est. net operating income
Before mortgage & depreciation
$50,239
At median price
Implied cap rate
10.8%

* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.

Why Investors Choose Gatlinburg

12M+ visitors to Smoky Mountains NP annually
True year-round demand — no hard off-season
Cabin supply drives unique inventory with hot tubs and game rooms
Strong domestic drive-to market — recession resilient
Peak season: Year-round (peaks: Oct foliage, Dec holidays)
Top property types: Cabin, Chalet, Condo
Primary zip: 37738, 37862, 37863

Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.

Run a live analysis in Gatlinburg

Search active MLS listings in Gatlinburg and instantly see cap rates, cash flow projections, and STR comp-backed nightly rates — all in one underwriting report.