22529 Conrad Rd
South Bloomingville, OH 43152
$349,000
3 bd · 1 ba · 2,016 sqft · Listed 3d ago
View on Realtor.com →Year built
2003
Sqft
2,016
Lot sqft
80,150
HOA / mo
None
Furnished
No
List date
2026-09-24T17:42:32Z
Revenue
Annual revenue
$53,675
ADR
$289
Occupancy
51%
Cleaning fees (12 mo)
$7,903
Confidence
Low (25), 6 comps
Comp revenue range (p25 / median / p75)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
 Pet-Friendly Home ~ 10 Mi to Hocking Hills! | 3 bd · 2 ba · sleeps 7 | — | $167 | — | 4.3★ (35) | 1.0 mi | AirbnbVrbo |
 Abode at Blue Creek | NEW Hot Tub, Arcade | 3 bd · 2 ba · sleeps 6 | — | $388 | — | 5★ (7) | 1.8 mi | AirbnbVrbo |
 Abode at Blue Creek | 3 bd · 2 ba · sleeps 6 | — | $322 | — | 5★ (16) | 1.8 mi | AirbnbVrbo |
 Haven Haus | Modern Black A-Frame| Hot Tub + Sauna | 3 bd · 2 ba · sleeps 8 | — | $345 | — | 5★ (38) | 1.9 mi | AirbnbVrbo |
 The Log Cabin | 3 bd · 2 ba · sleeps 6 | — | $358 | — | 5★ (119) | 2.1 mi | AirbnbVrbo |
 Secluded, Luxuriously Remodeled, Gaming, Hot Tub! | 3 bd · 2 ba · sleeps 10 | — | $535 | — | 5★ (79) | 2.1 mi | 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
Est. revenue
$53,675
NOI
$29,522
Cash flow /mo
$2,460
Cash needed
$382,460
Cash-on-cash (all cash)
7.7%
ROE (yr 1)
10.5%
Cap rate
8.5%
DSCR
—
Year-1 write-off
$83,559
Year-1 tax shield @ 32%
$26,739
Year-1 return on equity
- Cash flow (annual)$29,522
- Principal paydown (n/a, cash)$0
- Appreciation at%$10,470
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$10,735
- Platform fees (3% of revenue)$1,610
- Maintenance / capex (5% of revenue)$2,684
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,097
- Insurance (STR-rated)$2,827
Cash needed to close
- Purchase price (all cash)$349,000
- Closing costs (4.0%)$13,960
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$26,739
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
$292,000
Short-life (5/15-yr)
$63,000 · 22%
Year-1 deduction
$84,000
Year-1 tax shield @ 32%
$27,000
Land 16% (county tax record, market value split) · building $229,000 over 39 years · new furniture $20,000
Based on: 2,016 sq ft, built 2003, 3 bd / 1 ba, unfurnished, listing features (deck, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $57,000 in year 1 (12% short-life, $18,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $5,400
Kitchen cabinetsdefault
$10,200 new × 40% good × 1.31 allocation
- $4,400
Kitchen countertopsdefault
$8,400 new × 40% good × 1.31 allocation
- $1,800
Decorative trimdefault
$3,500 new × 40% good × 1.31 allocation
- $100
Mirrorsdefault
$200 new × 40% good × 1.31 allocation
- $600
Shelvingdefault
$1,200 new × 40% good × 1.31 allocation
- $2,600
Window coverings (20)default
$5,000 new × 40% good × 1.31 allocation
- $6,800
Carpet, vinyl & laminate (100% of floors)listing
$13,000 new × 40% good × 1.31 allocation
- $5,600
Kitchen & laundry equipment plumbingdefault
$8,000 new × 54% good × 1.31 allocation
- $3,400
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 54% good × 1.31 allocation
- $3,000
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 1.31 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $7,600
Paving: driveway & walks (paved)default
$11,600 new × 50% good × 1.31 allocation
- $5,900
Landscaping (typical)default
$9,000 new × 50% good × 1.31 allocation
- $1,300
Patiosdefault
$2,000 new × 50% good × 1.31 allocation
- $14,800
Decks & porches (attached)listing
$22,700 new × 50% good × 1.31 allocation
- $176,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$218,900 new × 62% good × 1.31 allocation
- $16,000
Building plumbing & fixturesdefault
$22,700 new × 54% good × 1.31 allocation
- $16,100
Building electrical & lightingdefault
$22,800 new × 54% good × 1.31 allocation
- $11,900
HVACdefault
$22,700 new × 40% good × 1.31 allocation
- $7,900
Septic systemlisting
$12,000 new × 50% good × 1.31 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $53,200 | $29,600 | $700 | $83,600 |
| 2 | $0 | $0 | $5,900 | $5,900 |
| 3 | $0 | $0 | $5,900 | $5,900 |
| 4 | $0 | $0 | $5,900 | $5,900 |
| 5 | $0 | $0 | $5,900 | $5,900 |
| 6+ | $0 | $0 | $204,500 | $204,500 |
| Total | $53,200 | $29,600 | $228,700 | $311,500 |
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: Georgia disallows 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.