STR Yield
← Back to deals
MortgageCash
505 N Spring St

505 N Spring St

Logan, OH 43138

$335,000

3 bd · 1 ba · 1,544 sqft · Listed 3d ago

View on Realtor.com →
Low confidence

Year built

—

Sqft

1,544

Lot sqft

3,049

HOA / mo

$0

Furnished

No

List date

2026-11-09T02:04:46.000000Z

Revenue

Annual revenue

$16,548

ADR

$154

Occupancy

29%

Cleaning fees (12 mo)

$1,823

Confidence

Low (33.08), 9 comps

Comp revenue range (p25 / median / p75)

$18,387$22,642$39,382

Median revenue of shown comps: $23,428

  • Crossroads Cottage in the Heart of Hocking Hills

    Cabin · 3 bd · 1 ba · sleeps 8 · 0.4 mi

    Revenue $921ADR $218Occ ≈ 1%4.6★ (16)

    Delisted

  • Lakewood Cottage in Hocking Hills

    Cabin · 3 bd · 2 ba · sleeps 8 · 0.5 mi

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

    Revenue $24,214ADR $393Occ ≈ 17%4.5★ (35)

    AirbnbVrboBooking

  • Pet Friendly, 3BR Retreat, King Bed & Hot Tub

    House · 3 bd · 2 ba · sleeps 6 · 0.5 mi

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

    Revenue $41,277ADR $231Occ ≈ 49%5★ (135)

    Airbnb

  • Chickasaw in Hocking Hills

    Cabin · 3 bd · 1 ba · sleeps 6 · 0.5 mi

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

    Revenue $22,642ADR $293Occ ≈ 21%4.2★ (49)

    AirbnbVrboBooking

  • The Old Canal House (and hottub!)

    House · 3 bd · 2 ba · sleeps 6 · 0.5 mi

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

    Revenue $20,487ADR $64Occ ≈ 88%4.8★ (36)

    Airbnb

  • Logan, Ohio in the Heart of Hocking Hills, pool table, king size bed, Hot Tub

    House · 3 bd · 2 ba · sleeps 6 · 0.5 mi

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

    Revenue $47,818ADR $239Occ ≈ 55%5★ (24)

    Vrbo

  • 3 Bedroom in Hocking Hills w King Bed Logan Ohio

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.5 mi

    Revenue $39,382ADR $258Occ ≈ 42%4.8★ (5)

    Booking

  • Hillside Escape

    House · 3 bd · 1 ba · sleeps 7 · 0.7 mi

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

    Revenue $18,387ADR $209Occ ≈ 24%4★ (130)

    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

$16,548

NOI

$2,894

Cash flow /mo

$241

Cash needed

$367,900

Cash-on-cash (all cash)

0.8%

ROE (yr 1)

3.5%

Cap rate

0.9%

DSCR

—

Year-1 write-off

$108,322

Year-1 tax shield @ 32%

$34,663

Year-1 return on equity

  • Cash flow (annual)$2,894
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$10,050
ROE3.5%

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)$3,310
  • Platform fees (3% of revenue)$496
  • Maintenance / capex (5% of revenue)$827
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$2,107
  • Insurance (STR-rated)$2,714

Cash needed to close

  • Purchase price (all cash)$335,000
  • Closing costs (4.0%)$13,400
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$34,663

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

$278,000

Short-life (5/15-yr)

$89,000 · 32%

Year-1 deduction

$108,000

Year-1 tax shield @ 32%

$35,000

Land 17% (county tax record, market value split) · building $190,000 over 39 years · new furniture $20,000

Based on: 1,544 sq ft, age unknown, 3 bd / 1 ba, unfurnished, listing features (deck, patio, fence, flooring types, appliance list).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $72,000 in year 1 (19% short-life, $23,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$59,000

  • Kitchen cabinetsdefault

    $9,200 new × 40% good × 2.12 allocation

    $7,800

  • Kitchen countertopsdefault

    $7,500 new × 40% good × 2.12 allocation

    $6,400

  • Decorative trimdefault

    $2,700 new × 40% good × 2.12 allocation

    $2,300

  • Mirrorsdefault

    $200 new × 40% good × 2.12 allocation

    $100

  • Shelvingdefault

    $1,200 new × 40% good × 2.12 allocation

    $1,000

  • Window coverings (15)default

    $3,800 new × 40% good × 2.12 allocation

    $3,200

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

    $5,000 new × 40% good × 2.12 allocation

    $4,200

  • Kitchen & laundry equipment plumbingdefault

    $7,100 new × 40% good × 2.12 allocation

    $6,100

  • Kitchen, laundry & data equipment electricaldefault

    $4,300 new × 40% good × 2.12 allocation

    $3,700

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

    $5,700 new × 40% good × 2.12 allocation

    $4,800

  • Furniture bought newlisting

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

    $19,500
15-year land improvements$49,100

  • Paving: driveway & walks (paved)default

    $8,100 new × 50% good × 2.12 allocation

    $8,600

  • Landscaping (typical)default

    $7,800 new × 50% good × 2.12 allocation

    $8,300

  • Patioslisting

    $6,900 new × 50% good × 2.12 allocation

    $7,400

  • Decks & porches (attached)listing

    $17,400 new × 50% good × 2.12 allocation

    $18,400

  • Fencinglisting

    $6,000 new × 50% good × 2.12 allocation

    $6,400
Building, 39-year$189,900

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

    $167,400 new × 40% good × 2.12 allocation

    $141,900

  • Building plumbing & fixturesdefault

    $17,300 new × 40% good × 2.12 allocation

    $14,700

  • Building electrical & lightingdefault

    $16,800 new × 40% good × 2.12 allocation

    $14,300

  • HVACdefault

    $17,400 new × 40% good × 2.12 allocation

    $14,700

  • Hardwood & tile floorsdefault

    $5,000 new × 40% good × 2.12 allocation

    $4,200

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$59,000$49,100$200$108,300
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$170,200$170,200
Total$59,000$49,100$189,900$298,000

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.