DSCR Rental Purchase Loan for SFR in Gatlinburg, Tennessee

Easy Street Capital, a direct private real estate lender, funded a $730,000 1st lien position rental purchase loan for the acquisition of a single-family home in Gatlinburg, TN. The purchase price was $912,500. The property will be utilized as a short-term rental. Nestled in scenic landscapes of the Great Smoky Mountains, one of America’s most visited national parks, Gatlinburg is a captivating tourist haven as it seamlessly blends natural beauty with a plethora of entertainment options. Gatlinburg caters to diverse interests, ensuring that families, adventure seekers, and history enthusiasts alike will find something to delight in with amusement parks, a myriad of hiking trails, and an array of dinner and comedy shows. Regardless of the season, Gatlinburg remains a vibrant destination, welcoming guests year-round. In the warmer months, guests can enjoy outdoor adventures like hiking complemented by the charm of local breweries. As winter blankets the mountains in snow, Gatlinburg transforms into a winter wonderland, inviting families to enjoy skiing and snow tubing. The interest rate was fixed at 8%. The DSCR was 1.47. This STR purchase loan was funded in December 2023.