28068 Blackjack Rd
Logan, OH 43138
$1,129,000
3 bd · 4.5 ba · 3,026 sqft · Listed 2d ago
View on Realtor.com →Year built
2026
Sqft
3,026
Lot sqft
243,500
HOA / mo
$0
Furnished
No
List date
2026-10-09T17:51:37.000000Z
Revenue
Annual revenue
$91,327
ADR
$690
Occupancy
36%
Cleaning fees (12 mo)
$21,756
Confidence
Med (68.7), 5 comps
Comp revenue range (p25 / median / p75)
Few similar-size comps were found, so all comps are shown.
Median revenue of shown comps: $97,385
Fall is Here! Modern Cabin in the Trees
Cabin · 3 bd · 2.5 ba · sleeps 11 · 0.7 mi
Revenue $128,687ADR $453Occ ≈ 78%5★ (126)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Thelma's Retreat by The Inn & Spa at Cedar Falls Cabin | 4 bd · 3.5 ba · sleeps 8 | $78,269 | $978 | 22% | 4.8★ (51) | 325 ft | AirbnbVrbo |
Louise's Hideaway by Inn & Spa at Cedar Falls Cabin | 2 bd · 2.5 ba · sleeps 4 | $97,385 | $487 | 55% | 4.9★ (17) | 0.1 mi | AirbnbVrbo |
Cabin with hot tub, game room and EV, sleeps 22 Cabin | 4 bd · 3.5 ba · sleeps 16 | $115,108 | $642 | 49% | 4.8★ (47) | 0.2 mi | AirbnbVrbo |
Frontier for Families-Secluded-Covered Hot Tub-Gam Cabin | 3 bd · 3 ba · sleeps 8 | $53,910 | $502 | 29% | 4.9★ (194) | 0.4 mi | AirbnbVrbo |
Fall is Here! Modern Cabin in the Trees Cabin | 3 bd · 2.5 ba · sleeps 11 | $128,687 | $453 | 78% | 5★ (126) | 0.7 mi | 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
Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium
Est. revenue
$91,327
NOI
$52,017
Cash flow /mo
-$1,967
Cash needed
$352,910
Cash-on-cash
-6.7%
ROE (yr 1)
4.9%
Cap rate
4.6%
DSCR
0.69
Year-1 write-off
$228,164
Year-1 tax shield @ 32%
$73,012
Year-1 return on equity
- Cash flow (annual)-$23,607
- Principal paydown$6,866
- Appreciation at%$33,870
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)$18,265
- Platform fees (3% of revenue)$2,740
- Maintenance / capex (5% of revenue)$4,566
- Utilities & supplies$4,200
- HOA$0
- Property tax$394
- Insurance (STR-rated)$9,145
Cash needed to close
- Down payment (25%)$282,250
- Closing costs (4.0%)$45,160
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$73,012
No county tax record split for property tax, insurance rate and the land/building split, so those use market defaults — edit the price above; 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
$903,000
Short-life (5/15-yr)
$202,000 · 22%
Year-1 deduction
$228,000
Year-1 tax shield @ 32%
$73,000
Land 20% (market default, no usable tax-record split) · building $701,000 over 39 years · new furniture $26,000
Based on: 3,026 sq ft, built 2026, 3 bd / 4.5 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: $128,000 in year 1 (11% short-life, $41,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $18,800
Kitchen cabinetsdefault
$12,400 new × 100% good × 1.51 allocation
- $19,200
Kitchen countertops (stone)listing
$12,700 new × 100% good × 1.51 allocation
- $8,000
Decorative trimdefault
$5,300 new × 100% good × 1.51 allocation
- $900
Mirrorsdefault
$600 new × 100% good × 1.51 allocation
- $1,800
Shelvingdefault
$1,200 new × 100% good × 1.51 allocation
- $11,300
Window coverings (30)default
$7,500 new × 100% good × 1.51 allocation
- $7,300
Carpet, vinyl & laminate (25% of floors)listing
$4,900 new × 100% good × 1.51 allocation
- $14,600
Kitchen & laundry equipment plumbingdefault
$9,700 new × 100% good × 1.51 allocation
- $8,800
Kitchen, laundry & data equipment electricaldefault
$5,800 new × 100% good × 1.51 allocation
- $8,600
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 100% good × 1.51 allocation
- $13,600
Hot tub (freestanding)listing
$9,000 new × 100% good × 1.51 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $17,200
Paving: driveway & walks (paved)default
$11,400 new × 100% good × 1.51 allocation
- $8,300
Landscaping (minimal)listing
$5,500 new × 100% good × 1.51 allocation
- $4,500
Patiosdefault
$3,000 new × 100% good × 1.51 allocation
- $51,400
Decks & porches (attached)listing
$34,000 new × 100% good × 1.51 allocation
- $7,500
Gazebo / pergolalisting
$5,000 new × 100% good × 1.51 allocation
- $496,400
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$328,800 new × 100% good × 1.51 allocation
- $51,500
Building plumbing & fixturesdefault
$34,100 new × 100% good × 1.51 allocation
- $53,800
Building electrical & lightingdefault
$35,600 new × 100% good × 1.51 allocation
- $51,500
HVACdefault
$34,100 new × 100% good × 1.51 allocation
- $22,000
Hardwood & tile floorsdefault
$14,600 new × 100% good × 1.51 allocation
- $7,900
Fireplaces (2)listing
$5,300 new × 100% good × 1.51 allocation
- $18,100
Septic systemlisting
$12,000 new × 100% good × 1.51 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $138,500 | $88,900 | $800 | $228,200 |
| 2 | $0 | $0 | $18,000 | $18,000 |
| 3 | $0 | $0 | $18,000 | $18,000 |
| 4 | $0 | $0 | $18,000 | $18,000 |
| 5 | $0 | $0 | $18,000 | $18,000 |
| 6+ | $0 | $0 | $628,600 | $628,600 |
| Total | $138,500 | $88,900 | $701,300 | $928,700 |
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.