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28933 Big Pine Rd

28933 Big Pine Rd

Logan, OH 43138

$949,999

4 bd · 3.5 ba · 2,378 sqft · Listed today

View on Realtor.com →
Low confidence

Year built

2007

Sqft

2,378

Lot sqft

131,116

HOA / mo

$0

Furnished

No

List date

2026-11-12T03:36:35.000000Z

Revenue

Annual revenue

$89,853

ADR

$518

Occupancy

48%

Cleaning fees (12 mo)

$15,029

Confidence

Low (31.87), 10 comps

Comp revenue range (p25 / median / p75)

$19,233$57,944$92,874

Median revenue of shown comps: $43,551

  • Close to Caves - Saloon - 4BR/Loft - BunkRoom

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.1 mi

    Revenue $96,720ADR $550Occ ≈ 48%4.9★ (79)

    Airbnb

  • Abode at Big Pine – Formerly Western Hideaway

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.1 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $11,058ADR $331Occ ≈ 9%5★ (4)

    AirbnbVrbo

  • Golden Eagle Lodge|Hot Tub + Outdoor Fireplace

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.1 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +3

    Revenue $5,999ADR $713Occ ≈ 2%—

    AirbnbVrbo

  • Brand New Cabin | Theater | Game Room | Hot Tub

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.1 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $39,699ADR $638Occ ≈ 17%5★ (2)

    Vrbo

  • Red Pine Cabin|4 Bedrooms|Pool Table

    House · 4 bd · 3.5 ba · sleeps 10 · 0.1 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $12,411ADR $408Occ ≈ 8%5★ (2)

    AirbnbVrbo

  • Woods Edge Cabin | Hocking Hills, Hot Tub, Pets

    Cabin · 4 bd · 2.5 ba · sleeps 9 · 0.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $68,485ADR $416Occ ≈ 45%4.7★ (126)

    AirbnbVrbo

  • 4 br cabin near Old Man's Cave!

    Cabin · 4 bd · 3 ba · sleeps 9 · 0.2 mi

    Revenue $47,402ADR $425Occ ≈ 31%4.8★ (82)

    Delisted

  • Pine Knoll Lodge | Hocking Hills, Hot Tub, Views

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +2

    Revenue $83,353ADR $484Occ ≈ 47%4.8★ (64)

    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

Financing
Management

Est. revenue

$89,853

NOI

$42,552

Cash flow /mo

$3,546

Cash needed

$1,016,999

Cash-on-cash (all cash)

4.2%

ROE (yr 1)

7.0%

Cap rate

4.5%

DSCR

—

Year-1 write-off

$193,166

Year-1 tax shield @ 32%

$61,813

Year-1 return on equity

  • Cash flow (annual)$42,552
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$28,500
ROE7.0%

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)$17,971
  • Platform fees (3% of revenue)$2,696
  • Maintenance / capex (5% of revenue)$4,493
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$10,247
  • Insurance (STR-rated)$7,695

Cash needed to close

  • Purchase price (all cash)$949,999
  • Closing costs (4.0%)$38,000
  • Furnishing (bought new)$29,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$61,813

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

$875,000

Short-life (5/15-yr)

$163,000 · 19%

Year-1 deduction

$193,000

Year-1 tax shield @ 32%

$62,000

Land 8% (county tax record, market value split) · building $712,000 over 39 years · new furniture $29,000

Based on: 2,378 sq ft, built 2007, 4 bd / 3.5 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, stone counters, flooring types, appliance list, septic, wooded lot).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $118,000 in year 1 (10% short-life, $38,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$112,600

  • Kitchen cabinetsdefault

    $11,000 new × 40% good × 3.05 allocation

    $13,400

  • Kitchen countertops (stone)listing

    $11,300 new × 40% good × 3.05 allocation

    $13,700

  • Decorative trimdefault

    $4,200 new × 40% good × 3.05 allocation

    $5,100

  • Mirrorsdefault

    $500 new × 40% good × 3.05 allocation

    $500

  • Shelvingdefault

    $1,500 new × 40% good × 3.05 allocation

    $1,800

  • Window coverings (24)default

    $6,000 new × 40% good × 3.05 allocation

    $7,300

  • Kitchen & laundry equipment plumbingdefault

    $8,600 new × 62% good × 3.05 allocation

    $16,200

  • Kitchen, laundry & data equipment electricaldefault

    $5,200 new × 62% good × 3.05 allocation

    $9,800

  • Appliances (microwave, dishwasher, refrigerator)listing

    $3,900 new × 40% good × 3.05 allocation

    $4,800

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 3.05 allocation

    $11,000

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$79,800

  • Paving: driveway & walks (paved)listing

    $10,100 new × 50% good × 3.05 allocation

    $15,400

  • Landscaping (minimal)listing

    $4,900 new × 50% good × 3.05 allocation

    $7,400

  • Patioslisting

    $10,700 new × 50% good × 3.05 allocation

    $16,300

  • Decks & porches (attached)listing

    $26,800 new × 50% good × 3.05 allocation

    $40,700
Building, 39-year$711,800

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

    $257,900 new × 68% good × 3.05 allocation

    $536,700

  • Building plumbing & fixturesdefault

    $26,800 new × 62% good × 3.05 allocation

    $50,600

  • Building electrical & lightingdefault

    $27,400 new × 62% good × 3.05 allocation

    $51,800

  • HVACdefault

    $26,800 new × 40% good × 3.05 allocation

    $32,600

  • Hardwood & tile floorsdefault

    $15,300 new × 40% good × 3.05 allocation

    $18,600

  • Fireplacelisting

    $2,600 new × 40% good × 3.05 allocation

    $3,200

  • Septic systemlisting

    $12,000 new × 50% good × 3.05 allocation

    $18,300

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$112,600$79,800$800$193,200
2$0$0$18,300$18,300
3$0$0$18,300$18,300
4$0$0$18,300$18,300
5$0$0$18,300$18,300
6+$0$0$638,100$638,100
Total$112,600$79,800$711,800$904,200

The building's share of the price ($875,000) is 3.0x our depreciated replacement cost of the home ($287,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.

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

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