Buying a Pickwick Rental: $18,613, Not a Shore Mash

Underwrite a Pickwick Lake purchase in Counce, Tennessee at $18,613, the actual typical year AirROI reports for the Hardin County shore, not a number blended from the reservoir's other two states. That figure comes from the August 2025 through July 2026 AirROI vintage on one hundred listings: ADR $254, occupancy 31.9 percent, RevPAR $78, stay 5.7 nights, and 12.0 percent professionally managed. Seventeen listings are set for thirty-plus nights, lead time runs 42 days, Superhost share is 75.0 percent, and entire-home share is 100 percent. There is no published three-state T12 for this reservoir, so a lender asking for one is asking for a number that doesn't exist.

The property sits roughly two to two and a half hours southeast of Memphis, centered on Counce and Pickwick Landing in Hardin County. TVA acreage, the park lodge, and the marina drive tourism demand, but they aren't debt service. Peak-3 is March, May, and August, with March the single peak month and January the seasonal low. Year-over-year revenue is up 21.2 percent on this vintage, and that swing belongs in any underwriting file, the same way a down year would. Read the market report before letting a broker memo blend Iuka's $14,650, Savannah's $19,163, or Muscle Shoals' $31,093 into the packet, then confirm which county clerk's office actually matches the parcel before moving forward.

This page is a buyer's packet, not a gold-mine pitch. Three separate county offices travel with the deed depending on which shore the parcel sits on: the Hardin County Clerk (Kathy Smith) at 65 Court Street, Suite 1, Savannah, TN 38372; the Tishomingo County Chancery Clerk (Peyton Cummings) at 1008 Battleground Drive, Iuka, MS 38852; and the Colbert County Probate office at 201 North Main Street, Tuscumbia, AL 35674. Counce itself is unincorporated and has no city desk of its own. The 2018 Short-Term Rental Unit Act is the Tennessee shore's regulatory frame. Tax remittance isn't banned here, and it isn't a substitute for a T12 either. If a packet still wants to attach a Muscle Shoals year to this deed, send it back. This is not legal advice.

DSCR on Counce's Published Year

DSCR on this property is DSCR on $18,613, full stop. The sample is one hundred listings, entire-home share is 100 percent, Superhost share is 75.0 percent, stay is 5.7 nights, occupancy is 31.9 percent, ADR is $254, and RevPAR is $78. Peak-3 is March, May, and August; the softest revenue month is January. None of that becomes a blended reservoir story just because Pickwick Landing State Park sits at 116 State Park Lane. A lender who wants a larger rent roll is asking a buyer to guess a year, and that's a year worth refusing.

File the extract that actually matches the deed. If the parcel is Counce on the Hardin shore, the year is $18,613 and the stay is 5.7 nights. If the parcel is instead in Iuka, that's a different market entirely. If it's Muscle Shoals, it isn't this lake market at all. The compare page exists specifically so a packet doesn't end up wearing the wrong shore's numbers. Two hours from Memphis is the drive time, not a stand-in for Memphis-level ADR. A buyer who needs a bigger year should be looking at a different property, not stretching this one's numbers.

Professionally managed share is 12.0 percent. Seventeen listings carry thirty-plus-night minimums, the most common minimum overall is two nights, and lead time is 42 days. Those figures describe listed panel, not a filled note, so the finance page is the place for the longer underwriting file. The number that belongs on the first line here is $18,613, not a rounder, more impressive figure. One hundred panel is a small but honest sample, and it should be written up that way. Peak month is March, with May and August rounding out the peak three; January is the hole. Any DSCR analysis that skips those months isn't really DSCR on this property.

State Lines Travel With the Deed

Hardin County, Tennessee; Tishomingo County, Mississippi; and Colbert County, Alabama all meet at this reservoir. Which shore, which county, and which state a parcel sits in is the first underwriting question, before anything else. The lake itself isn't a jurisdiction, and a buyer who underwrites one blended lake year across all three state frames is underwriting a costume figure, not a real one. On the Counce side specifically: typical year $18,613, occupancy 31.9 percent, stay 5.7 nights, one hundred listings. Those numbers describe Counce, not a mashed-together reservoir and not a Memphis metro note.

Three states also mean three separate county offices. Walk the parcel map before trusting a broker memo: confirm the 911 address, the tax parcel, and the county GIS directly. Don't buy into a Muscle Shoals music-scene story, a Shiloh lodging story, or a Memphis mash-up as if any of them describe this deed. Any AirROI comparison that blends Florence, Tuscumbia, Corinth, or Killen into this market is a costume figure and should be labeled as such in the packet. The guest page shows who is actually already booking the Counce panel.

A three-state lake isn't a reason to walk away from the deal, it's a reason to stop inflating the numbers. Superhost share is 75.0 percent on one hundred panel, independent hosts already operate here, and the shore already knows how to serve overnight guests. What the shore doesn't owe a buyer is a gold-mine year. Year-over-year growth of plus 21.2 percent is part of that honest picture, and it belongs filed right next to the three-county detail so no future version of the buyer can claim surprise. Professionally managed share is 12.0 percent, stay is 5.7 nights, and seventeen listings carry thirty-plus-night settings; those figures travel with the deed too. A buyer packet that drops the shore context has already started inflating the story. Counce is unincorporated, but the lake still spans three states.

Keep Iuka's Numbers Separate From the Note

Iuka's numbers, on the same August 2025 through July 2026 vintage, are $14,650 typical year, $208 ADR, and 30.4 percent occupancy - a genuinely different market market. Treat $14,650 and $18,613 as two separate figures rather than blending them into one number, and resist borrowing Iuka's eighty-four listings to make Counce's hundred-panel sample look deeper, or Iuka's $208 ADR to make Counce's $254 look inflated by comparison. Label Iuka as Iuka. Counce stays at $18,613 on one hundred listings, 31.9 percent occupancy, and a 5.7-night stay - the compare page exists for exactly this kind of side-by-side.

A lender asking for one blended rent roll across three states and reservoirs is really asking a buyer to guess a year. The better move is to file the extract that actually matches the deed: if the parcel is Counce, Iuka's dollars don't travel with it, and if the parcel is Iuka, this page's numbers don't apply either. Adjacent markets are adjacent, not interchangeable, and an average of the two is a costume figure, not a cash-flow number. RevPAR here is $78, describing this specific cash-flow desk rather than a blended county story. Iuka's peak months are March, May, and October, while Counce's are March, May, and August - October isn't part of this property's picture at all.

Tourism marketing will try to blur that line: Pickwick Landing isn't an Iuka courthouse stay, and TVA acreage isn't Iuka occupancy - the tourism page keeps that visitor-landscape context separate from the underwriting note, which is exactly where it belongs. A buyer packet that can't keep two county seats distinct isn't ready to support a DSCR analysis. $18,613 stays specific to this market: occupancy here is 31.9 percent versus Iuka's 30.4 percent on eighty-four listings - different occupancy figures entirely. Stay here is 5.7 nights, lead time is 42 days, and professionally managed share is 12.0 percent - none of which carries over to an Iuka deed.

Muscle Shoals Is a Different Desk

Muscle Shoals runs $31,093 typical year, $253 ADR, 38.7 percent occupancy, a March/May/August peak-3, a 4.5-night stay, and 4.9 percent professionally managed - a music-and-studio market with Memphis as its origin point, not a stand-in for the Pickwick year. Label that $31,093 figure as Muscle Shoals' own, and treat it as a separate number rather than folding it into Counce's $18,613. Resist borrowing Muscle Shoals' forty-one listings to make Counce's hundred-panel sample look richer than it is. For reference, Florence runs $18,962 on 186 listings and Tuscumbia runs $16,445 on 23 - both separate Quad Cities-area desks, not this property's market.

A lender pushing the Muscle Shoals year onto a Counce driveway is, again, asking for an guessed note - worth refusing. ADR here is $254 versus $253 there: close nightly prices don't make these one extract. Occupancy here is 31.9 percent versus 38.7 percent there. Stay here is 5.7 nights versus 4.5 there. Year-over-year here is plus 21.2 percent versus plus 33.1 percent there. These are simply different files, and Muscle Shoals should be filed as Muscle Shoals.

Helen Keller-related tourism in Tuscumbia and the Shiloh site are both adjacent-but-separate desks; Oxford is a different cluster entirely, and none of them should be blended together. The rules page is the minimum three-state literacy test - if a broker memo can't tell Counce from Muscle Shoals, it isn't ready to support a DSCR conversation. $18,613 remains the Counce year, and $31,093 remains its labeled neighbor. RevPAR here is $78 versus $100 there, and Muscle Shoals' 41.5 percent thirty-plus-night share shouldn't be borrowed to describe Counce's seventeen thirty-plus panel.

Year-Over-Year Belongs in the File

Counce's year-over-year is plus 21.2 percent on the August 2025 through July 2026 vintage, with supply up 12.4 percent - both figures belong in the file. Don't let that swing hide behind the lodge or behind TVA acreage, and don't blend it with an Iuka or Muscle Shoals vintage to flatten the story. Small samples already limit how much weight one year's data can carry, and one hundred listings is still a modest sample size. Plus 21.2 percent belongs in the packet the first time a lender asks, the same way a down year would.

Peak-3 remains March, May, and August; peak month remains March; January remains the hole; September and November still sit in the low stretch. A strong year doesn't rewrite the calendar into a longer harvest season, and it doesn't justify a monthly rate cut either. Seventeen listings are set for thirty-plus nights, and stay is 5.7 nights. The shoulder page covers how to price the months this sample actually names, and the underwriting note should use those same months.

Professionally managed share is 12.0 percent, Superhost share is 75.0 percent, and entire-home share is 100 percent - these describe who's already operating through this vintage, not a promise of permanent growth. If a broker memo wants a forever-up narrative, the right response is to ask for the next extract, not to dress this one up. $18,613 is this file's year; plus 21.2 percent is how it moved. Both belong in the packet the first time a lender asks. ADR is $254, occupancy is 31.9 percent, RevPAR is $78 - the swing shouldn't be filed away separately from the year itself.

Evolve on the Extract Doesn't Mean the Field Is Closed

Evolve appears in this sample with five listings, and gross revenue on those five panel is $124,593. Professionally managed share overall is 12.0 percent - a manager's presence on one hundred panel, not a closed field. Any leftover claim that no Vacasa, Avant Stay, or Evolve operates here is simply wrong; label Evolve accurately instead, and don't guess a Vacasa or Avant Stay footprint the data doesn't show. Treating five branded panel as a reason to walk away means underwriting a logo, not an actual year. For comparison, Iuka runs 4.8 percent professionally managed on eighty-four panel - a different desk entirely.

Treating those five Evolve panel as proof the note will fill is equally mistaken. Occupancy is still 31.9 percent, typical year is still $18,613, and stay is still 5.7 nights. Evolve's presence doesn't rewrite January, and it doesn't rewrite the three-state picture. Independent hosts still hold most of the gallery: Superhost share is 75.0 percent and entire-home share is 100 percent. Those figures describe a field a buyer can still enter, provided the driveway, the county office, and the extract all line up.

Don't underwrite a brand premium this sample doesn't actually print - file Evolve as a competitor, not as extra occupancy and not as a reason the field is closed. The remote-work page already rejected an inflated monthly-rate story, and this note should reject an inflated brand story the same way. $18,613 remains the year, one hundred panel remains the sample, and the five Evolve listings remain five. Peak-3 is still March, May, and August; January is still the hole; lead time is still 42 days. A brand name doesn't change those months, and Iuka's manager share shouldn't be borrowed here either.

County Offices Travel With the Parcel

Depending on which shore the parcel sits on, the relevant office is one of three: the Hardin County Clerk, Kathy Smith, at 65 Court Street, Suite 1, Savannah, TN 38372; the Tishomingo County Chancery Clerk, Peyton Cummings, at 1008 Battleground Drive, Iuka, MS 38852; or the Colbert County Probate office at 201 North Main Street, Tuscumbia, AL 35674. Privilege and business licensing in Colbert County applies as noted by that office. Counce itself is unincorporated, with no city desk of its own - the county that owns the driveway is the relevant clerk, and there's no separate Counce city clerk to guess. All three county offices still travel with the parcel because tax remittance, the deed, and the driveway all still exist. Confirm which county office actually matches the parcel before making an offer.

Memphis paperwork doesn't apply here, and a buyer who files a Memphis form on a Counce driveway has already failed basic diligence. Confirm specifically whether the parcel is in Hardin, Tishomingo, or Colbert County - not Lauderdale, and not some blend of all of them (Waterloo is missing page). Don't guess a year to fill the gap. The startup-cost page prices the correct county office path first, and that step should come before pricing furniture or DSCR. A note that can't name 65 Court Street isn't ready to move forward.

Bring the parcel map, the extract showing $18,613 on one hundred listings, and the 2018 Act as a cross-reference rather than something to rebuild from scratch. Ask about remittance, ask about zoning, and ask which shore actually owns the driveway. These county offices aren't a stand-in for occupancy data, they're simply the compliance path, so confirm the correct one before bidding. A packet that can't locate the Hardin County Clerk isn't ready to support an $18,613 valuation. Stay is 5.7 nights, lead time is 42 days, and the clerks page has the full office list.

What a Buyer Packet Should Carry

Carry $18,613 on one hundred listings, ADR $254, occupancy 31.9 percent, RevPAR $78, stay 5.7 nights, lead time 42 days, professionally managed 12.0 percent, Superhost 75.0 percent, entire-home 100 percent, seventeen thirty-plus-night settings, year-over-year plus 21.2 percent, and the peak-3 of March, May, and August with January as the hole. Carry the three county offices. Carry the 2018 Act as compliance diligence on the Tennessee shore, not as an occupancy figure. Carry Pickwick Landing as a demand driver, not as revenue data. Carry Evolve's presence as five panel, not as evidence the field is closed.

Leave out Iuka's $14,650, Savannah's $19,163, Florence's $18,962, and Muscle Shoals' $31,093 as though any of them were this year's figure. Leave out any leftover monthly-rate reduction. Leave out Oxford, the Shiloh lodging market, or a Memphis skyline as though they described this neighborhood. Cross-link the statewide file and stop there - the tourism page can sit in an appendix as visitor-landscape context, but it doesn't belong on the rent roll, and the DIY-marketing page can describe the manager share without inflating the T12.

If a packet still files this property as though it were Memphis, send it back for revision. Underwrite the shore that actually matches the deed: the drive from Memphis is two to two and a half hours, $18,613 is the year, one hundred panel is the sample, and there are three separate county offices to track depending on the parcel. Anything larger than that is an inflated figure, not real DSCR. Confirm remittance, and confirm whether the driveway is in Counce, Iuka, or Colbert County rather than some blend of the three. Stay is 5.7 nights, lead time is 42 days, and seventeen listings carry thirty-plus-night settings. Send the parcel details before bidding - this analysis won't manufacture a three-state T12 that doesn't exist.

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Frequently Asked Questions

What year should I underwrite for a Pickwick Lake rental?

Plan around $18,613 on one hundred listings, based on the August 2025 through July 2026 AirROI vintage for the Counce/Hardin County shore. Don't substitute an Iuka or Muscle Shoals year for this note - there's no published three-state T12, and a lender asking for a larger blended rent roll is really asking for an guessed number. The full vintage: ADR $254, occupancy 31.9 percent, RevPAR $78, stay 5.7 nights, and 12.0 percent professionally managed.

Do three states change the underwriting?

Yes. Hardin County (Tennessee), Tishomingo County (Mississippi), and Colbert County (Alabama) all meet at this reservoir, and the lake itself isn't a jurisdiction. Underwriting one blended lake year across all three state frames produces an inflated, unreliable figure. One hundred listings is a modest sample, Superhost share is 75.0 percent, and independent hosts already operate here - but the shore doesn't owe a buyer a gold-mine year. File the correct shore next to the $18,613 figure.

Should Iuka's numbers be blended into the Counce figures?

No. Iuka runs $14,650 typical year, $208 ADR, and 30.4 percent occupancy - keep these as a separate market market rather than folding them into Counce's numbers. Don't borrow Iuka's eighty-four listings to make Counce's hundred-panel sample look deeper, and don't borrow its $208 ADR to make Counce's $254 look inflated by comparison. in the buyer file.

How should Muscle Shoals' $31,093 figure be treated?

As a separate market, not the Pickwick year. Muscle Shoals is a music-and-studio desk on forty-one listings, 38.7 percent occupancy, and a 4.5-night stay. Keep its $31,093 figure distinct from Counce's $18,613 rather than blending the two. Year-over-year there is plus 33.1 percent versus plus 21.2 percent here - file Muscle Shoals as Muscle Shoals, and treat this property's DSCR as based on $18,613 only.

How should the plus 21.2 percent year-over-year figure be treated?

As a real part of the underwriting file, not something to hide behind the lodge or the TVA acreage - and not something to blend with Iuka's or Muscle Shoals' year-over-year figures either. One hundred listings is still a modest sample, and the peak-3 remains March, May, and August. Both the year and the swing belong in the packet the first time a lender asks about them.

Does Evolve's presence mean the Counce field is closed to new buyers?

No. Evolve operates five listings here with $124,593 in gross revenue on those panel. Professionally managed share overall is 12.0 percent - a manager's presence, not a closed field. Don't guess a Vacasa or Avant Stay footprint the data doesn't show. Occupancy is still 31.9 percent, typical year is still $18,613, and independent hosts still hold most of the gallery.

Which county offices are relevant to a Pickwick Lake parcel?

It depends on the shore: the Hardin County Clerk at 65 Court Street, Savannah, TN; the Tishomingo County Chancery Clerk at 1008 Battleground Drive, Iuka, MS; or the Colbert County Probate office at 201 North Main Street, Tuscumbia, AL. Confirm which office actually matches the parcel before bidding, bring the parcel map and the $18,613 extract, and ask which shore owns the driveway.

What should a buyer packet carry overall?

$18,613 on one hundred listings, 31.9 percent occupancy, a 5.7-night stay, seventeen thirty-plus-night settings, plus 21.2 percent year-over-year, the March/May/August peak-3, the January hole, and the correct county office for the parcel. Carry the 2018 Act as compliance diligence, not as an occupancy figure. Leave out Iuka's $14,650, Muscle Shoals' $31,093, Florence's $18,962, or any leftover monthly-rate reduction. Underwrite the shore that actually matches the deed - anything larger is an inflated figure, not real DSCR.

Work with Crest & Cove Creative

A three-state reservoir means three different county offices and three different market years - Counce's own $18,613 typical year is the only one that belongs in a Hardin County shore underwriting file. Name the failure mode the guest can check.

Before bidding on a Pickwick Lake property, send us the parcel address so we can confirm which shore's numbers actually apply - reach out at crestcove.co or (256) 998-7502. Name the failure mode the guest can check on the listing.

Reach out at crestcove.co or (256) 998-7502.