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14978 Cohagen Rd

14978 Cohagen Rd

Logan, OH 43138

$449,000

2 bd · 1 ba · 768 sqft · Listed 1d ago

View on Realtor.com →
Rental history

Year built

2021

Sqft

768

Lot sqft

217,800

HOA / mo

$0

Furnished

No

List date

2026-09-27T18:51:22.000000Z

Revenue

Annual revenue

$57,130

ADR

$243

Occupancy

64%

Cleaning fees (12 mo)

$5,524

Confidence

Med (54.08), 13 comps

Comp revenue range (p25 / median / p75)

$31,123$50,990$54,066

  • The Aviary in Hocking Hills

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.1 mi

    Revenue $25,627ADR $323Occ ≈ 22%5★ (21)

    AirbnbVrbo

  • The Aviary in Hocking Hills

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.1 mi

    Revenue $89,214ADR $367Occ ≈ 67%5★ (78)

    Airbnb

  • Cozy, Amazing Views Cabin Hocking Hills

    Cabin · 2 bd · 1 ba · sleeps 4 · 0.9 mi

    Revenue $52,160ADR $200Occ ≈ 71%5★ (105)

    AirbnbVrbo

  • Twin Pine Cottage

    Cabin · 2 bd · 1 ba · sleeps 4 · 1.0 mi

    Revenue $35,124ADR $227Occ ≈ 42%4.9★ (370)

    AirbnbVrbo

  • Lazy Oaks Cabin by Tranquil Hills Lodging

    Cabin · 2 bd · 2 ba · sleeps 6 · 1.7 mi

    Revenue $54,066ADR $217Occ ≈ 68%4.8★ (229)

    AirbnbVrbo

  • The Farmhouse Cottage

    Cabin · 2 bd · 1 ba · sleeps 6 · 1.7 mi

    Revenue $50,170ADR $220Occ ≈ 62%4.8★ (245)

    AirbnbVrbo

  • Cozy Bird Haven Hocking Hills

    Cabin · 2 bd · 2 ba · sleeps 6 · 1.7 mi

    Revenue $74,870ADR $275Occ ≈ 75%5★ (75)

    Airbnb

  • Bobcat Corner, Hot Tub, Secluded

    Cabin · 2 bd · 1 ba · sleeps 4 · 1.8 mi

    Revenue $52,780ADR $247Occ ≈ 59%5★ (134)

    AirbnbVrbo

  • Rustic*Cozy*Serene*Private*Pond*Relax*Hot Tub

    Cabin · 2 bd · 1 ba · sleeps 5 · 1.9 mi

    Revenue $60,163ADR $281Occ ≈ 59%4.5★ (83)

    AirbnbVrbo

  • Sandy Run Cabin -Hot Tub, Hocking Hills, WNF, more

    Cabin · 2 bd · 1 ba · sleeps 6 · 1.9 mi

    Revenue $30,757ADR $166Occ ≈ 51%4.3★ (155)

    AirbnbVrbo

Show all 13 comps

  • Verde Grove Cabins - "Sycamore"

    Cabin · 2 bd · 1 ba · sleeps 4 · 2.0 mi

    Revenue $31,123ADR $160Occ ≈ 53%4.9★ (616)

    Airbnb

  • Mountain Vacation Cabin with Hot Tub in Hocking Hills State Park, Ohio

    Vacation home · 2 bd · 1 ba · sleeps 4 · 2.0 mi

    Revenue $6,346ADR $194Occ ≈ 9%—

    Booking

  • Squirrel Run Getaway

    Cabin · 2 bd · 1 ba · sleeps 4 · 2.1 mi

    Revenue $50,990ADR $213Occ ≈ 66%5★ (94)

    Airbnb

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

Est. revenue

$57,130

NOI

$31,852

Cash flow /mo

$2,654

Cash needed

$482,960

Cash-on-cash (all cash)

6.6%

ROE (yr 1)

9.4%

Cap rate

7.1%

DSCR

—

Year-1 write-off

$65,088

Year-1 tax shield @ 32%

$20,828

Year-1 return on equity

  • Cash flow (annual)$31,852
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$13,470
ROE9.4%
ROE incl. year-1 tax savings (32% bracket, STR loophole)13.7%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$11,426
  • Platform fees (3% of revenue)$1,714
  • Maintenance / capex (5% of revenue)$2,857
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,445
  • Insurance (STR-rated)$3,637

Cash needed to close

  • Purchase price (all cash)$449,000
  • Closing costs (4.0%)$17,960
  • Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$20,828

Property tax, insurance rate and the land/building split come from this listing's county tax record; 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

$210,000

Short-life (5/15-yr)

$49,000 · 23%

Year-1 deduction

$65,000

Year-1 tax shield @ 32%

$21,000

Land 53% (county tax record, market value split) · building $162,000 over 39 years · new furniture $16,000

Based on: 768 sq ft, built 2021, 2 bd / 1 ba, unfurnished, listing features (appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $45,000 in year 1 (14% short-life, $14,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$52,700

  • Kitchen cabinetsdefault

    $7,500 new × 80% good × 1.49 allocation

    $8,900

  • Kitchen countertopsdefault

    $6,100 new × 80% good × 1.49 allocation

    $7,300

  • Decorative trimdefault

    $1,300 new × 80% good × 1.49 allocation

    $1,600

  • Mirrorsdefault

    $200 new × 58% good × 1.49 allocation

    $100

  • Shelvingdefault

    $900 new × 80% good × 1.49 allocation

    $1,100

  • Window coverings (8)default

    $2,000 new × 50% good × 1.49 allocation

    $1,500

  • Carpet, vinyl & laminate (40% of floors)default

    $2,000 new × 58% good × 1.49 allocation

    $1,700

  • Kitchen & laundry equipment plumbingdefault

    $5,800 new × 90% good × 1.49 allocation

    $7,800

  • Kitchen, laundry & data equipment electricaldefault

    $3,500 new × 90% good × 1.49 allocation

    $4,700

  • Appliances (refrigerator)listing

    $2,200 new × 58% good × 1.49 allocation

    $1,900

  • Furniture bought newlisting

    $16,000 new × 100% good · bought separately

    $16,000
15-year land improvements$11,900

  • Paving: driveway & walks (paved)default

    $5,700 new × 80% good × 1.49 allocation

    $6,800

  • Landscaping (minimal)listing

    $2,800 new × 80% good × 1.49 allocation

    $3,300

  • Patiosdefault

    $800 new × 80% good × 1.49 allocation

    $900

  • Decks & porches (attached)default

    $800 new × 75% good × 1.49 allocation

    $800
Building, 39-year$161,600

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

    $82,900 new × 92% good × 1.49 allocation

    $113,200

  • Building plumbing & fixturesdefault

    $8,600 new × 90% good × 1.49 allocation

    $11,500

  • Building electrical & lightingdefault

    $7,000 new × 90% good × 1.49 allocation

    $9,400

  • HVACdefault

    $8,700 new × 75% good × 1.49 allocation

    $9,700

  • Hardwood & tile floorsdefault

    $3,000 new × 80% good × 1.49 allocation

    $3,500

  • Septic systemlisting

    $12,000 new × 80% good × 1.49 allocation

    $14,300

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$52,700$11,900$500$65,100
2$0$0$4,100$4,100
3$0$0$4,100$4,100
4$0$0$4,100$4,100
5$0$0$4,100$4,100
6+$0$0$144,500$144,500
Total$52,700$11,900$161,600$226,100

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: Georgia disallows bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.

Market note

Hocking County STR ordinance pending (annual permit, inspection, $1M liability insurance, driveway standards). Steep/gravel driveways are a cost risk.