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31183 Logan Horns Mill Rd

31183 Logan Horns Mill Rd

Logan, OH 43138

$675,000

4 bd · 3 ba · 2,176 sqft · Listed 5d ago

View on Realtor.com →
Low confidence

Year built

1900

Sqft

2,176

Lot sqft

80,150

HOA / mo

$0

Furnished

No

List date

2026-11-07T17:30:15.000000Z

Revenue

Annual revenue

$97,438

ADR

$492

Occupancy

54%

Cleaning fees (12 mo)

$15,180

Confidence

Low (46.67), 5 comps

Comp revenue range (p25 / median / p75)

$59,848$82,110$104,250

Median revenue of shown comps: $82,110

  • Hiltop Haven: The Trifecta

    Shipping container · 4 bd · 4 ba · sleeps 10 · 0.9 mi

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

    Revenue $147,658ADR $638Occ ≈ 63%5★ (1)

    AirbnbVrbo

  • Bear Crossing | Hocking Hills, Sleeps 10, Pets

    Cabin · 4 bd · 2 ba · sleeps 10 · 1.3 mi

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

    Revenue $82,110ADR $476Occ ≈ 47%4.7★ (83)

    AirbnbVrbo

  • Pet-Friendly Chalet w/ Hot Tub + Hiking Trails

    Chalet · 4 bd · 2.5 ba · sleeps 10 · 1.6 mi

    Revenue $104,250ADR $497Occ ≈ 57%5★ (195)

    Airbnb

  • Relaxing Family Getaway in Hocking Hills w/ HotTub

    House · 4 bd · 2 ba · sleeps 10 · 1.9 mi

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

    Revenue $59,848ADR $294Occ ≈ 56%5★ (152)

    AirbnbVrbo

  • Marion Ridge Retreat

    House · 4 bd · 3 ba · sleeps 10 · 2.0 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +4

    Revenue $28,570ADR $785Occ ≈ 10%4.9★ (9)

    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

$97,438

NOI

$57,868

Cash flow /mo

$4,822

Cash needed

$725,000

Cash-on-cash (all cash)

8.0%

ROE (yr 1)

10.8%

Cap rate

8.6%

DSCR

—

Year-1 write-off

$168,315

Year-1 tax shield @ 32%

$53,861

Year-1 return on equity

  • Cash flow (annual)$57,868
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$20,250
ROE10.8%

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)$19,488
  • Platform fees (3% of revenue)$2,923
  • Maintenance / capex (5% of revenue)$4,872
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$2,620
  • Insurance (STR-rated)$5,468

Cash needed to close

  • Purchase price (all cash)$675,000
  • Closing costs (4.0%)$27,000
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$53,861

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

$504,000

Short-life (5/15-yr)

$145,000 · 29%

Year-1 deduction

$168,000

Year-1 tax shield @ 32%

$54,000

Land 25% (county tax record, market value split) · building $359,000 over 39 years · new furniture $23,000

Based on: 2,176 sq ft, built 1900, 4 bd / 3 ba, unfurnished, listing features (deck, fence, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $107,000 in year 1 (17% short-life, $34,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$93,200

  • Kitchen cabinetsdefault

    $10,600 new × 40% good × 2.77 allocation

    $11,700

  • Kitchen countertopsdefault

    $8,600 new × 40% good × 2.77 allocation

    $9,600

  • Decorative trimdefault

    $3,800 new × 40% good × 2.77 allocation

    $4,200

  • Mirrorsdefault

    $500 new × 40% good × 2.77 allocation

    $500

  • Shelvingdefault

    $1,500 new × 40% good × 2.77 allocation

    $1,700

  • Window coverings (22)default

    $5,500 new × 40% good × 2.77 allocation

    $6,100

  • Carpet, vinyl & laminate (100% of floors)listing

    $14,000 new × 40% good × 2.77 allocation

    $15,500

  • Kitchen & laundry equipment plumbingdefault

    $8,200 new × 40% good × 2.77 allocation

    $9,100

  • Kitchen, laundry & data equipment electricaldefault

    $5,000 new × 40% good × 2.77 allocation

    $5,500

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

    $5,700 new × 40% good × 2.77 allocation

    $6,300

  • Furniture bought newlisting

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

    $23,000
15-year land improvements$74,800

  • Paving: driveway & walks (paved)default

    $12,100 new × 50% good × 2.77 allocation

    $16,700

  • Landscaping (typical)default

    $9,300 new × 50% good × 2.77 allocation

    $12,900

  • Patiosdefault

    $2,100 new × 50% good × 2.77 allocation

    $3,000

  • Decks & porches (attached)listing

    $24,500 new × 50% good × 2.77 allocation

    $33,900

  • Fencinglisting

    $6,000 new × 50% good × 2.77 allocation

    $8,300
Building, 39-year$359,500

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

    $235,800 new × 40% good × 2.77 allocation

    $261,100

  • Building plumbing & fixturesdefault

    $24,500 new × 40% good × 2.77 allocation

    $27,100

  • Building electrical & lightingdefault

    $24,900 new × 40% good × 2.77 allocation

    $27,500

  • HVACdefault

    $24,500 new × 40% good × 2.77 allocation

    $27,100

  • Septic systemlisting

    $12,000 new × 50% good × 2.77 allocation

    $16,600

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$93,200$74,800$400$168,300
2$0$0$9,200$9,200
3$0$0$9,200$9,200
4$0$0$9,200$9,200
5$0$0$9,200$9,200
6+$0$0$322,200$322,200
Total$93,200$74,800$359,500$527,400

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.