20540 State Route 93 S
Logan, OH 43138
$850,000
3 bd · 5 ba · 2,184 sqft · Listed 1d ago
View on Realtor.com →Year built
1976
Sqft
2,184
Lot sqft
270,072
HOA / mo
$0
Furnished
No
List date
2026-10-20T16:34:44.000000Z
Revenue
Annual revenue
$78,293
ADR
$513
Occupancy
42%
Cleaning fees (12 mo)
$9,859
Confidence
Med (60.35), 11 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $62,752
"Scenic Solitude" @ The Cabins at Rustic Ridge
Cabin · 3 bd · 3 ba · sleeps 8 · 0.5 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +4
Revenue $57,106ADR $520Occ ≈ 30%4.8★ (7)
"Rustic Elegance" @ The Cabins at Rustic Ridge
Cabin · 3 bd · 3 ba · sleeps 8 · 0.5 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +4
Revenue $62,752ADR $499Occ ≈ 34%4.8★ (8)
Shagbark Hickory Ridge Rustic Luxe Cabin + View
Cabin · 3 bd · 3 ba · sleeps 7 · 1.4 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +3
Revenue $57,368ADR $426Occ ≈ 37%5★ (13)
Honey Goat Hill, Sleeps 10, Centrally Located with Wooded Views
House · 3 bd · 3.5 ba · sleeps 10 · 1.6 mi
- Hot tub
- A/C
- Free parking
- Wifi
- +4
Revenue $95,562ADR $469Occ ≈ 56%5★ (38)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
"Scenic Solitude" @ The Cabins at Rustic Ridge Cabin
| 3 bd · 3 ba · sleeps 8 | $57,106 | $520 | 30% | 4.8★ (7) | 0.5 mi | Airbnb |
"Rustic Elegance" @ The Cabins at Rustic Ridge Cabin
| 3 bd · 3 ba · sleeps 8 | $62,752 | $499 | 34% | 4.8★ (8) | 0.5 mi | Airbnb |
Cabin w/ Dome, Hot Tub, Sauna, Firepit, Pickleball Cabin
| 3 bd · 3 ba · sleeps 9 | $94,723 | $446 | 58% | 4.6★ (111) | 1.4 mi | AirbnbVrboBooking |
Shagbark Hickory Ridge Rustic Luxe Cabin + View Cabin
| 3 bd · 3 ba · sleeps 7 | $57,368 | $426 | 37% | 5★ (13) | 1.4 mi | Airbnb |
Honey Goat Hill, Sleeps 10, Centrally Located with Wooded Views House
| 3 bd · 3.5 ba · sleeps 10 | $95,562 | $469 | 56% | 5★ (38) | 1.6 mi | Vrbo |
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
$78,293
NOI
$41,968
Cash flow /mo
$3,497
Cash needed
$903,500
Cash-on-cash (all cash)
4.6%
ROE (yr 1)
7.5%
Cap rate
4.9%
DSCR
—
Year-1 write-off
$199,434
Year-1 tax shield @ 32%
$63,819
Year-1 return on equity
- Cash flow (annual)$41,968
- Principal paydown (n/a, cash)$0
- Appreciation at%$25,500
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)$15,659
- Platform fees (3% of revenue)$2,349
- Maintenance / capex (5% of revenue)$3,915
- Utilities & supplies$4,200
- HOA$0
- Property tax$3,318
- Insurance (STR-rated)$6,885
Cash needed to close
- Purchase price (all cash)$850,000
- Closing costs (4.0%)$34,000
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$63,819
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
$637,000
Short-life (5/15-yr)
$179,000 · 28%
Year-1 deduction
$199,000
Year-1 tax shield @ 32%
$64,000
Land 25% (county tax record, market value split) · building $457,000 over 39 years · new furniture $20,000
Based on: 2,184 sq ft, built 1976, 3 bd / 5 ba, unfurnished, listing features (hot tub, deck, flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $121,000 in year 1 (16% short-life, $39,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $14,900
Kitchen cabinetsdefault
$10,600 new × 40% good × 3.51 allocation
- $12,200
Kitchen countertopsdefault
$8,700 new × 40% good × 3.51 allocation
- $5,400
Decorative trimdefault
$3,800 new × 40% good × 3.51 allocation
- $1,100
Mirrorsdefault
$800 new × 40% good × 3.51 allocation
- $1,700
Shelvingdefault
$1,200 new × 40% good × 3.51 allocation
- $7,700
Window coverings (22)default
$5,500 new × 40% good × 3.51 allocation
- $19,700
Carpet, vinyl & laminate (100% of floors)listing
$14,100 new × 40% good × 3.51 allocation
- $11,600
Kitchen & laundry equipment plumbingdefault
$8,200 new × 40% good × 3.51 allocation
- $7,000
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 40% good × 3.51 allocation
- $5,500
Appliances (microwave, dishwasher, refrigerator)listing
$3,900 new × 40% good × 3.51 allocation
- $12,600
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.51 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $17,000
Paving: driveway & walks (paved)default
$9,700 new × 50% good × 3.51 allocation
- $16,400
Landscaping (typical)default
$9,300 new × 50% good × 3.51 allocation
- $3,800
Patiosdefault
$2,200 new × 50% good × 3.51 allocation
- $43,100
Decks & porches (attached)listing
$24,600 new × 50% good × 3.51 allocation
- $332,200
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$236,700 new × 40% good × 3.51 allocation
- $34,500
Building plumbing & fixturesdefault
$24,600 new × 40% good × 3.51 allocation
- $35,000
Building electrical & lightingdefault
$25,000 new × 40% good × 3.51 allocation
- $34,500
HVACdefault
$24,600 new × 40% good × 3.51 allocation
- $21,100
Septic systemlisting
$12,000 new × 50% good × 3.51 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $118,700 | $80,200 | $500 | $199,400 |
| 2 | $0 | $0 | $11,700 | $11,700 |
| 3 | $0 | $0 | $11,700 | $11,700 |
| 4 | $0 | $0 | $11,700 | $11,700 |
| 5 | $0 | $0 | $11,700 | $11,700 |
| 6+ | $0 | $0 | $409,900 | $409,900 |
| Total | $118,700 | $80,200 | $457,300 | $656,200 |
The building's share of the price ($637,000) is 3.5x our depreciated replacement cost of the home ($181,000). 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.