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11397 State Route 180

11397 State Route 180

Laurelville, OH 43135

$349,900

3 bd · 2 ba · 1,202 sqft · Listed 2d ago

View on Realtor.com →
Low confidence

Year built

1972

Sqft

1,202

Lot sqft

76,230

HOA / mo

$0

Furnished

No

List date

2026-11-10T17:42:00.000000Z

Revenue

Annual revenue

$69,407

ADR

$359

Occupancy

53%

Cleaning fees (12 mo)

$9,274

Confidence

Low (18.36), 5 comps

Comp revenue range (p25 / median / p75)

$15,853$48,030$49,173

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $48,030

  • EpicGameroom-Pets-SunsetViews-Hottub-Daybed

    House · 3 bd · 2.5 ba · sleeps 11 · 0.9 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $109,562ADR $499Occ ≈ 60%5★ (4)

    Airbnb

  • Cozy Cabin-Hot Tub, Pool Table & Game Room-Ideal for Families & Small Groups

    Cabin · 3 bd · 3 ba · sleeps 1 · 0.9 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $48,030ADR $410Occ ≈ 32%5★ (130)

    Vrbo

  • Rockin' B | Hocking Hills, Hot Tub, Game Room

    Cabin · 3 bd · 2 ba · sleeps 6 · 0.9 mi

    • Hot tub
    • A/C
    • Pets OK
    • Wifi
    • +3

    Revenue $15,853ADR $290Occ ≈ 15%4.5★ (6)

    AirbnbVrbo

  • Cozy Creekside Cabin in the heart of Hocking Hills

    Cabin · 3 bd · 2 ba · sleeps 10 · 1.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +3

    Revenue $49,173ADR $281Occ ≈ 48%4.9★ (224)

    AirbnbVrboBooking

  • Woodland Retreat - Near Ash Cave - HotTub & Sauna

    Cabin · 3 bd · 2.5 ba · sleeps 10 · 1.6 mi

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

    Revenue $14,063ADR $403Occ ≈ 10%5★ (10)

    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

$69,407

NOI

$41,599

Cash flow /mo

$3,467

Cash needed

$383,396

Cash-on-cash (all cash)

10.9%

ROE (yr 1)

13.6%

Cap rate

11.9%

DSCR

—

Year-1 write-off

$107,860

Year-1 tax shield @ 32%

$34,515

Year-1 return on equity

  • Cash flow (annual)$41,599
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$10,497
ROE13.6%

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)$13,881
  • Platform fees (3% of revenue)$2,082
  • Maintenance / capex (5% of revenue)$3,470
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,287
  • Insurance (STR-rated)$2,887

Cash needed to close

  • Purchase price (all cash)$349,900
  • Closing costs (4.0%)$13,996
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$34,515

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

$301,000

Short-life (5/15-yr)

$88,000 · 29%

Year-1 deduction

$108,000

Year-1 tax shield @ 32%

$35,000

Land 14% (county tax record, market value split) · building $213,000 over 39 years · new furniture $20,000

Based on: 1,202 sq ft, built 1972, 3 bd / 2 ba, unfurnished, listing features (patio, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $82,000 in year 1 (21% short-life, $26,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$75,100

  • Kitchen cabinetsdefault

    $8,400 new × 40% good × 3.14 allocation

    $10,600

  • Kitchen countertopsdefault

    $6,900 new × 40% good × 3.14 allocation

    $8,700

  • Decorative trimdefault

    $2,100 new × 40% good × 3.14 allocation

    $2,600

  • Mirrorsdefault

    $300 new × 40% good × 3.14 allocation

    $400

  • Shelvingdefault

    $1,200 new × 40% good × 3.14 allocation

    $1,500

  • Window coverings (12)default

    $3,000 new × 40% good × 3.14 allocation

    $3,800

  • Carpet, vinyl & laminate (100% of floors)listing

    $7,700 new × 40% good × 3.14 allocation

    $9,700

  • Kitchen & laundry equipment plumbingdefault

    $6,600 new × 40% good × 3.14 allocation

    $8,300

  • Kitchen, laundry & data equipment electricaldefault

    $4,000 new × 40% good × 3.14 allocation

    $5,000

  • Appliances (range, refrigerator)listing

    $4,000 new × 40% good × 3.14 allocation

    $5,000

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500
15-year land improvements$32,500

  • Paving: driveway & walks (paved)default

    $7,200 new × 50% good × 3.14 allocation

    $11,300

  • Landscaping (typical)default

    $6,900 new × 50% good × 3.14 allocation

    $10,900

  • Patioslisting

    $5,400 new × 50% good × 3.14 allocation

    $8,500

  • Decks & porches (attached)default

    $1,200 new × 50% good × 3.14 allocation

    $1,900
Building, 39-year$213,000

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

    $129,800 new × 40% good × 3.14 allocation

    $163,300

  • Building plumbing & fixturesdefault

    $13,500 new × 40% good × 3.14 allocation

    $16,900

  • Building electrical & lightingdefault

    $12,500 new × 40% good × 3.14 allocation

    $15,700

  • HVACdefault

    $13,500 new × 40% good × 3.14 allocation

    $17,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$75,100$32,500$200$107,900
2$0$0$5,500$5,500
3$0$0$5,500$5,500
4$0$0$5,500$5,500
5$0$0$5,500$5,500
6+$0$0$190,900$190,900
Total$75,100$32,500$213,000$320,600

The building's share of the price ($301,000) is 3.1x our depreciated replacement cost of the home ($96,000). 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.