STR Yield
← Back to deals
MortgageCash
235 N Orchard St

235 N Orchard St

Logan, OH 43138

$309,900

4 bd · 2 ba · 2,104 sqft · Listed 8d ago

View on Realtor.com →
Low confidence

Year built

1900

Sqft

2,104

Lot sqft

6,098

HOA / mo

$0

Furnished

No

List date

2026-11-04T17:25:32.000000Z

Revenue

Annual revenue

$16,911

ADR

$227

Occupancy

20%

Cleaning fees (12 mo)

$1,792

Confidence

Low (26.94), 9 comps

Comp revenue range (p25 / median / p75)

$13,100$18,908$22,969

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

Median revenue of shown comps: $16,426

  • Crossroads Cottage in the Heart of Hocking Hills

    Cabin · 3 bd · 1 ba · sleeps 8 · 0.2 mi

    Revenue $3,945ADR $303Occ ≈ 4%4.6★ (16)

    Delisted

  • Hocking Luxury | Pet+Kid Friendly | Fire Pit

    House · 4 bd · 2 ba · sleeps 10 · 0.2 mi

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

    Revenue $34,961ADR $363Occ ≈ 26%4.7★ (95)

    AirbnbVrbo

  • 4 Miles to Old Mans Cave

    House · 4 bd · 2 ba · sleeps 16 · 0.2 mi

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

    Revenue $16,426ADR $431Occ ≈ 10%4★ (14)

    AirbnbVrbo

  • Lakewood Cottage in Hocking Hills

    Cabin · 3 bd · 2 ba · sleeps 8 · 0.3 mi

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

    Revenue $27,038ADR $393Occ ≈ 19%4.5★ (34)

    AirbnbVrboBooking

  • Chickasaw in Hocking Hills

    Cabin · 3 bd · 1 ba · sleeps 6 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +1

    Revenue $21,613ADR $287Occ ≈ 21%4.2★ (46)

    AirbnbVrboBooking

  • Hillside Escape

    House · 3 bd · 1 ba · sleeps 7 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +2

    Revenue $16,152ADR $218Occ ≈ 20%4.2★ (127)

    AirbnbVrbo

  • Charming Victorian Home

    House · 3 bd · 1 ba · sleeps 4 · 0.4 mi

    Revenue $3,270ADR $183Occ ≈ 5%5★ (2)

    Delisted

  • The Old Canal House (and hottub!)

    House · 3 bd · 2 ba · sleeps 6 · 0.4 mi

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

    Revenue $21,390ADR $65Occ ≈ 90%4.8★ (36)

    Airbnb

  • Hilltop Hideaway w/ 5 bdrms, Gameroom & Hot Tub

    House · 5 bd · 3 ba · sleeps 16 · 0.5 mi

    Revenue $0ADR $0Occ ≈ —4.9★ (43)

    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

Est. revenue

$16,911

NOI

$3,449

Cash flow /mo

$287

Cash needed

$345,296

Cash-on-cash (all cash)

1.0%

ROE (yr 1)

3.7%

Cap rate

1.1%

DSCR

—

Year-1 write-off

$95,917

Year-1 tax shield @ 32%

$30,693

Year-1 return on equity

  • Cash flow (annual)$3,449
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$9,297
ROE3.7%

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)$3,382
  • Platform fees (3% of revenue)$507
  • Maintenance / capex (5% of revenue)$846
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$2,017
  • Insurance (STR-rated)$2,510

Cash needed to close

  • Purchase price (all cash)$309,900
  • Closing costs (4.0%)$12,396
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$30,693

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

$263,000

Short-life (5/15-yr)

$73,000 · 28%

Year-1 deduction

$96,000

Year-1 tax shield @ 32%

$31,000

Land 15% (county tax record, market value split) · building $190,000 over 39 years · new furniture $23,000

Based on: 2,104 sq ft, built 1900, 4 bd / 2 ba, unfurnished, listing features (deck, patio, fence, fireplace, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $63,000 in year 1 (15% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$52,200

  • Kitchen cabinetsdefault

    $10,400 new × 40% good × 1.51 allocation

    $6,300

  • Kitchen countertopsdefault

    $8,500 new × 40% good × 1.51 allocation

    $5,100

  • Decorative trimdefault

    $3,700 new × 40% good × 1.51 allocation

    $2,200

  • Mirrorsdefault

    $300 new × 40% good × 1.51 allocation

    $200

  • Shelvingdefault

    $1,500 new × 40% good × 1.51 allocation

    $900

  • Window coverings (21)default

    $5,300 new × 40% good × 1.51 allocation

    $3,200

  • Kitchen & laundry equipment plumbingdefault

    $8,100 new × 40% good × 1.51 allocation

    $4,900

  • Kitchen, laundry & data equipment electricaldefault

    $4,900 new × 40% good × 1.51 allocation

    $3,000

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

    $5,700 new × 40% good × 1.51 allocation

    $3,400

  • Furniture bought newlisting

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

    $23,000
15-year land improvements$43,600

  • Paving: driveway & walks (paved)default

    $9,500 new × 50% good × 1.51 allocation

    $7,200

  • Landscaping (typical)default

    $9,100 new × 50% good × 1.51 allocation

    $6,900

  • Patioslisting

    $9,500 new × 50% good × 1.51 allocation

    $7,100

  • Decks & porches (attached)listing

    $23,700 new × 50% good × 1.51 allocation

    $17,800

  • Fencinglisting

    $6,000 new × 50% good × 1.51 allocation

    $4,500
Building, 39-year$190,300

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

    $228,100 new × 40% good × 1.51 allocation

    $137,500

  • Building plumbing & fixturesdefault

    $23,700 new × 40% good × 1.51 allocation

    $14,300

  • Building electrical & lightingdefault

    $23,900 new × 40% good × 1.51 allocation

    $14,400

  • HVACdefault

    $23,700 new × 40% good × 1.51 allocation

    $14,300

  • Hardwood & tile floorsdefault

    $13,500 new × 40% good × 1.51 allocation

    $8,200

  • Fireplacelisting

    $2,600 new × 40% good × 1.51 allocation

    $1,600

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$52,200$43,600$200$95,900
2$0$0$4,900$4,900
3$0$0$4,900$4,900
4$0$0$4,900$4,900
5$0$0$4,900$4,900
6+$0$0$170,600$170,600
Total$52,200$43,600$190,300$286,000

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.