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Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium

1048 Parkway Dr

1048 Parkway Dr

Logan, OH 43138

$749,900

5 bd · 3 ba · 2,742 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceNegative cash flow

Year built

1990

Sqft

2,742

Lot sqft

99,752

HOA / mo

$0

Furnished

No

List date

2026-10-20T15:34:14.000000Z

Revenue

Annual revenue

$64,041

ADR

$407

Occupancy

43%

Cleaning fees (12 mo)

$4,760

Confidence

Low (-2.52), 15 comps

Comp revenue range (p25 / median / p75)

$10,629$27,123$94,581

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $22,240

  • Scenic Views Parkview w/ Hot Tub, Games Spacious

    House · 5 bd · 3 ba · sleeps 12 · 131 ft

    Revenue $76,817ADR $453Occ ≈ 46%4.5★ (154)

    AirbnbVrbo

  • Scenic Views Parkview w/ Hot Tub, Games Spacious

    House · 5 bd · 3 ba · sleeps 12 · 0.1 mi

    Revenue $8,618ADR $374Occ ≈ 6%—

    Vrbo

  • Hilltop Hideaway w/ 5 bdrms, Gameroom & Hot Tub

    House · 5 bd · 3 ba · sleeps 16 · 0.8 mi

    Revenue $0ADR $0Occ ≈ —4.9★ (43)

    Airbnb

  • Wildwood Cabin Sports and Fun

    Cabin · 4 bd · 2 ba · sleeps 8 · 1.0 mi

    • Pool
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $22,240ADR $339Occ ≈ 18%5★ (7)

    AirbnbVrboBooking

  • Pickle Hill - hot tub, pickleball court, sleeps 10

    House · 5 bd · 2 ba · sleeps 10 · 1.0 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +5

    Revenue $129,733ADR $747Occ ≈ 48%5★ (140)

    AirbnbVrbo

  • 4 Miles to Old Mans Cave

    House · 4 bd · 2 ba · sleeps 16 · 1.0 mi

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

    Revenue $16,426ADR $431Occ ≈ 10%4★ (14)

    AirbnbVrbo

  • Frog Hill | Hocking Hills, EV Charger, Hot Tub

    Cabin · 4 bd · 3.5 ba · sleeps 8 · 1.1 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $116,519ADR $506Occ ≈ 63%4.9★ (97)

    AirbnbVrbo

  • Waterfront Lake Views w/ Hot tub in Hocking Hills

    Cabin · 4 bd · 2.5 ba · sleeps 10 · 1.3 mi

    Revenue $8,697ADR $425Occ ≈ 6%5★ (6)

    AirbnbBooking

  • Lakeside Hideaway

    Cabin · 4 bd · 2 ba · sleeps 14 · 1.3 mi

    Revenue $18,189ADR $568Occ ≈ 9%5★ (98)

    AirbnbVrbo

  • Waterfront Lake Views w/ Hot tub in Hocking Hills

    Cabin · 4 bd · 2.5 ba · sleeps 10 · 1.3 mi

    Revenue $4,752ADR $594Occ ≈ 2%—

    Vrbo

Show 5 more

  • Hocking Luxury | Pet+Kid Friendly | Fire Pit

    House · 4 bd · 2 ba · sleeps 10 · 1.4 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $34,961ADR $363Occ ≈ 26%4.7★ (95)

    AirbnbVrbo

  • The Davis-Country Retreat w/Hidden Speakeasy

    House · 4 bd · 3.5 ba · sleeps 12 · 1.5 mi

    Revenue $6,311ADR $574Occ ≈ 3%5★ (6)

    Airbnb

  • Avalon Villa-Foxes Den Theme-Panoramic LakeVue-Hot

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

    Revenue $111,076ADR $705Occ ≈ 43%5★ (146)

    AirbnbVrbo

  • HildeHaus| GameRoom, PickleBall, HeatedPool, Sauna

    House · 4 bd · 3.5 ba · sleeps 16 · 2.1 mi

    Revenue $100,502ADR $973Occ ≈ 28%5★ (21)

    AirbnbVrbo

  • Brand New Cabin | Theater | Game Room | Hot Tub

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 2.1 mi

    Revenue $32,005ADR $471Occ ≈ 19%5★ (23)

    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
Term

Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium

Est. revenue

$64,041

NOI

$31,177

Cash flow /mo

-$1,588

Cash needed

$243,971

Cash-on-cash

-7.8%

ROE (yr 1)

3.3%

Cap rate

4.2%

DSCR

0.62

Year-1 write-off

$214,665

Year-1 tax shield @ 32%

$68,693

Year-1 return on equity

  • Cash flow (annual)-$19,053
  • Principal paydown$4,560
  • Appreciation at%$22,497
ROE3.3%

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)$12,808
  • Platform fees (3% of revenue)$1,921
  • Maintenance / capex (5% of revenue)$3,202
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$4,658
  • Insurance (STR-rated)$6,074

Cash needed to close

  • Down payment (25%)$187,475
  • Closing costs (4.0%)$29,996
  • Furnishing (bought new)$26,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$68,693

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

$682,000

Short-life (5/15-yr)

$188,000 · 28%

Year-1 deduction

$215,000

Year-1 tax shield @ 32%

$69,000

Land 9% (county tax record, market value split) · building $494,000 over 39 years · new furniture $27,000

Based on: 2,742 sq ft, built 1990, 5 bd / 3 ba, unfurnished, listing features (hot tub, pool, deck, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $134,000 in year 1 (16% short-life, $43,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$123,900

  • Kitchen cabinetsdefault

    $11,800 new × 40% good × 3.02 allocation

    $14,300

  • Kitchen countertopsdefault

    $9,700 new × 40% good × 3.02 allocation

    $11,700

  • Decorative trimdefault

    $4,800 new × 40% good × 3.02 allocation

    $5,800

  • Mirrorsdefault

    $500 new × 40% good × 3.02 allocation

    $500

  • Shelvingdefault

    $1,800 new × 40% good × 3.02 allocation

    $2,200

  • Window coverings (27)default

    $6,800 new × 40% good × 3.02 allocation

    $8,200

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

    $17,600 new × 40% good × 3.02 allocation

    $21,300

  • Kitchen & laundry equipment plumbingdefault

    $9,200 new × 40% good × 3.02 allocation

    $11,100

  • Kitchen, laundry & data equipment electricaldefault

    $5,600 new × 40% good × 3.02 allocation

    $6,700

  • Appliances (microwave, dishwasher, refrigerator)listing

    $3,900 new × 40% good × 3.02 allocation

    $4,700

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 3.02 allocation

    $10,900

  • Furniture bought newlisting

    $26,500 new × 100% good · bought separately

    $26,500
15-year land improvements$90,200

  • Paving: driveway & walks (paved)default

    $10,900 new × 50% good × 3.02 allocation

    $16,400

  • Landscaping (typical)default

    $10,400 new × 50% good × 3.02 allocation

    $15,800

  • Patiosdefault

    $2,700 new × 50% good × 3.02 allocation

    $4,100

  • Decks & porches (attached)listing

    $30,800 new × 50% good × 3.02 allocation

    $46,600

  • Pool (above-ground)listing

    $6,000 new × 40% good × 3.02 allocation

    $7,300
Building, 39-year$494,500

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

    $297,400 new × 40% good × 3.02 allocation

    $359,700

  • Building plumbing & fixturesdefault

    $30,900 new × 40% good × 3.02 allocation

    $37,400

  • Building electrical & lightingdefault

    $32,000 new × 40% good × 3.02 allocation

    $38,700

  • HVACdefault

    $30,900 new × 40% good × 3.02 allocation

    $37,400

  • Fireplacelisting

    $2,600 new × 40% good × 3.02 allocation

    $3,200

  • Septic systemlisting

    $12,000 new × 50% good × 3.02 allocation

    $18,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$123,900$90,200$500$214,700
2$0$0$12,700$12,700
3$0$0$12,700$12,700
4$0$0$12,700$12,700
5$0$0$12,700$12,700
6+$0$0$443,200$443,200
Total$123,900$90,200$494,500$708,600

The building's share of the price ($682,000) is 3.0x our depreciated replacement cost of the home ($226,000). 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.