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Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

18397 Goat Run Honey Fork Rd

18397 Goat Run Honey Fork Rd

Logan, OH 43138

$799,888

4 bd · 3 ba · 3,000 sqft · Listed 1d ago

View on Realtor.com →
Low confidence

Year built

2006

Sqft

3,000

Lot sqft

126,324

HOA / mo

$0

Furnished

No

List date

2026-11-02T13:42:21.000000Z

Revenue

Annual revenue

$131,301

ADR

$466

Occupancy

77%

Cleaning fees (12 mo)

$16,884

Confidence

Low (—), 4 comps

Comp revenue range (p25 / median / p75)

$109,399$120,426$131,313

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

Median revenue of shown comps: $120,426

  • Heart of Hocking Hills | Pool, Sauna, Hot Tub

    Cabin · 4 bd · 2 ba · sleeps 14 · 256 ft

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $111,367ADR $599Occ ≈ 51%5★ (44)

    AirbnbVrbo

  • Fall Weekday Special 9 Mi Old Mans Cave Sleeps 12

    Cabin · 4 bd · 2 ba · sleeps 12 · 381 ft

    Revenue $103,494ADR $330Occ ≈ 86%5★ (45)

    Airbnb

  • The Goat at Hillside Amble -Escape RM Adventure

    Cabin · 4 bd · 3 ba · sleeps 11 · 0.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +5

    Revenue $136,798ADR $610Occ ≈ 61%5★ (179)

    Airbnb

  • The Bee | Luxury Cabin + Hidden Escape Rm + Views

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.3 mi

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

    Revenue $129,484ADR $586Occ ≈ 61%5★ (188)

    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
Management
Term

Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

Est. revenue

$131,301

NOI

$77,616

Cash flow /mo

$2,070

Cash needed

$260,968

Cash-on-cash

9.5%

ROE (yr 1)

20.6%

Cap rate

9.7%

DSCR

1.47

Year-1 write-off

$158,509

Year-1 tax shield @ 32%

$50,723

Year-1 return on equity

  • Cash flow (annual)$24,842
  • Principal paydown$5,021
  • Appreciation at%$23,997
ROE20.6%

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)$26,260
  • Platform fees (3% of revenue)$3,939
  • Maintenance / capex (5% of revenue)$6,565
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$6,242
  • Insurance (STR-rated)$6,479

Cash needed to close

  • Down payment (25%)$199,972
  • Closing costs (4.0%)$31,996
  • Furnishing (bought new)$29,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$50,723

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

$721,000

Short-life (5/15-yr)

$129,000 · 18%

Year-1 deduction

$159,000

Year-1 tax shield @ 32%

$51,000

Land 10% (county tax record, market value split) · building $592,000 over 39 years · new furniture $29,000

Based on: 3,000 sq ft, built 2006, 4 bd / 3 ba, unfurnished, listing features (hot tub, deck, 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: $96,000 in year 1 (9% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$101,900

  • Kitchen cabinetsdefault

    $12,400 new × 40% good × 2.09 allocation

    $10,300

  • Kitchen countertops (stone)listing

    $12,700 new × 40% good × 2.09 allocation

    $10,600

  • Decorative trimdefault

    $5,300 new × 40% good × 2.09 allocation

    $4,400

  • Mirrorsdefault

    $500 new × 40% good × 2.09 allocation

    $400

  • Shelvingdefault

    $1,500 new × 40% good × 2.09 allocation

    $1,300

  • Window coverings (30)default

    $7,500 new × 40% good × 2.09 allocation

    $6,300

  • Carpet, vinyl & laminate (50% of floors)listing

    $9,700 new × 40% good × 2.09 allocation

    $8,100

  • Kitchen & laundry equipment plumbingdefault

    $9,600 new × 60% good × 2.09 allocation

    $12,100

  • Kitchen, laundry & data equipment electricaldefault

    $5,800 new × 60% good × 2.09 allocation

    $7,300

  • Appliances (range, microwave, dishwasher, refrigerator)listing

    $5,700 new × 40% good × 2.09 allocation

    $4,800

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.09 allocation

    $7,500

  • 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$55,900

  • Paving: driveway & walks (paved)default

    $11,400 new × 50% good × 2.09 allocation

    $11,900

  • Landscaping (minimal)listing

    $5,500 new × 50% good × 2.09 allocation

    $5,700

  • Patiosdefault

    $3,000 new × 50% good × 2.09 allocation

    $3,100

  • Decks & porches (attached)listing

    $33,800 new × 50% good × 2.09 allocation

    $35,300
Building, 39-year$591,700

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

    $325,800 new × 67% good × 2.09 allocation

    $454,000

  • Building plumbing & fixturesdefault

    $33,800 new × 60% good × 2.09 allocation

    $42,400

  • Building electrical & lightingdefault

    $35,300 new × 60% good × 2.09 allocation

    $44,300

  • HVACdefault

    $33,800 new × 40% good × 2.09 allocation

    $28,300

  • Hardwood & tile floorsdefault

    $9,700 new × 40% good × 2.09 allocation

    $8,100

  • Fireplacelisting

    $2,600 new × 40% good × 2.09 allocation

    $2,200

  • Septic systemlisting

    $12,000 new × 50% good × 2.09 allocation

    $12,500

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$101,900$55,900$600$158,500
2$0$0$15,200$15,200
3$0$0$15,200$15,200
4$0$0$15,200$15,200
5$0$0$15,200$15,200
6+$0$0$530,400$530,400
Total$101,900$55,900$591,700$749,600

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.