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450 Flat Creek Cir

450 Flat Creek Cir

Blue Ridge, GA 30513

$985,000

5 bd · 3 ba · Listed 1d ago

View on Realtor.com →
Low confidence

Year built

1995

Sqft

—

Lot sqft

64,904

HOA / mo

None

Furnished

No

List date

2026-10-07T14:01:02.000000Z

Revenue

Annual revenue

$57,039

ADR

$464

Occupancy

34%

Cleaning fees (12 mo)

$10,497

Confidence

Low (32.66), 14 comps

Comp revenue range (p25 / median / p75)

$28,195$37,350$91,054

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

Median revenue of shown comps: $37,350

  • Luxury River-View Cabin|Game Rm, Hot Tub, Fire Pit

    House · 5 bd · 4 ba · sleeps 12 · 72 ft

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

    Revenue $42,357ADR $527Occ ≈ 22%4.8★ (18)

    AirbnbVrbo

  • The Silver Fox

    Vacation home · 4 bd · 4 ba · sleeps 8 · 0.3 mi

    Revenue $101,846ADR $506Occ ≈ 55%—

    Booking

  • Blue Ridge Cabin in Aska | Hot Tub+Long Range View

    Cabin · 4 bd · 3.5 ba · sleeps 11 · 0.3 mi

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

    Revenue $22,280ADR $409Occ ≈ 15%5★ (20)

    AirbnbVrbo

  • The Silver Fox- Aska Area, Hot Tub, Modern Chic

    Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.4 mi

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

    Revenue $94,518ADR $524Occ ≈ 49%4.8★ (17)

    AirbnbVrbo

  • Bell Camp Vista | Luxury + Mountain Views

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.5 mi

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

    Revenue $130,774ADR $442Occ ≈ 81%5★ (94)

    Airbnb

  • Mountain Views | 4 King Bedroom Luxury Cabin

    Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.5 mi

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

    Revenue $31,663ADR $602Occ ≈ 14%4.7★ (28)

    AirbnbVrbo

  • The Canopy House - Hot Tub, Sauna, Mountain View

    House · 4 bd · 3 ba · sleeps 10 · 0.6 mi

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

    Revenue $28,148ADR $494Occ ≈ 16%5★ (8)

    AirbnbVrboBooking

  • Aska Retreat HotTub+Fireplace Paved Access

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.6 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +6

    Revenue $21,783ADR $362Occ ≈ 16%4.9★ (37)

    AirbnbVrboBooking

  • Colby's Cabin- Pet Friendly, Fireplace, Hot Tub

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.6 mi

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

    Revenue $69,718ADR $495Occ ≈ 39%5★ (42)

    AirbnbVrboBooking

  • Neverland Retreat, River Views, Hot tub & Games

    Cabin · 5 bd · 3 ba · sleeps 14 · 0.6 mi

    Revenue $32,342ADR $327Occ ≈ 27%5★ (1)

    Delisted

Show 4 more

  • Riversong on the Toccoa・Hot Tub・Views・Pets Welc

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.7 mi

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

    Revenue $17,087ADR $516Occ ≈ 9%5★ (3)

    AirbnbVrboBooking

  • LUXURY Chalet! Hot Tub, Sauna, Arcade, 3 King, Creek

    House · 4 bd · 3.5 ba · sleeps 16 · 0.7 mi

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

    Revenue $114,552ADR $599Occ ≈ 52%4.9★ (41)

    AirbnbVrbo

  • Welcome To Lake Front Luxury

    House · 4 bd · 3 ba · sleeps 10 · 0.7 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +4

    Revenue $28,336ADR $445Occ ≈ 17%5★ (137)

    Vrbo

  • Private Cozy Luxury w/creek - No detail overlooked

    Cabin · 4 bd · 3 ba · sleeps 16 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $80,662ADR $545Occ ≈ 41%4.9★ (102)

    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

Financing
Management

Est. revenue

$57,039

NOI

$24,108

Cash flow /mo

$2,009

Cash needed

$1,050,900

Cash-on-cash (all cash)

2.3%

ROE (yr 1)

5.1%

Cap rate

2.4%

DSCR

—

Year-1 write-off

$244,066

Year-1 tax shield @ 32%

$78,101

Year-1 return on equity

  • Cash flow (annual)$24,108
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$29,550
ROE5.1%

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)$11,408
  • Platform fees (3% of revenue)$1,711
  • Maintenance / capex (5% of revenue)$2,852
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$2,270
  • Insurance (STR-rated)$10,490

Cash needed to close

  • Purchase price (all cash)$985,000
  • Closing costs (4.0%)$39,400
  • Furnishing (bought new)$26,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$78,101

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

$942,000

Short-life (5/15-yr)

$217,000 · 23%

Year-1 deduction

$244,000

Year-1 tax shield @ 32%

$78,000

Land 4% (county tax record, market value split) · building $725,000 over 39 years · new furniture $27,000

Based on: ~2,900 sq ft (from beds), built 1995, 5 bd / 3 ba, unfurnished, listing features (hot tub, deck, fence, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $144,000 in year 1 (12% short-life, $46,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$130,400

  • Kitchen cabinetsdefault

    $12,200 new × 40% good × 3.56 allocation

    $17,300

  • Kitchen countertopsdefault

    $9,900 new × 40% good × 3.56 allocation

    $14,200

  • Decorative trimdefault

    $5,100 new × 40% good × 3.56 allocation

    $7,200

  • Mirrorsdefault

    $500 new × 40% good × 3.56 allocation

    $600

  • Shelvingdefault

    $1,800 new × 40% good × 3.56 allocation

    $2,600

  • Window coverings (29)default

    $7,300 new × 40% good × 3.56 allocation

    $10,300

  • Carpet, vinyl & laminate (50% of floors)listing

    $9,300 new × 40% good × 3.56 allocation

    $13,300

  • Kitchen & laundry equipment plumbingdefault

    $9,500 new × 40% good × 3.56 allocation

    $13,500

  • Kitchen, laundry & data equipment electricaldefault

    $5,700 new × 40% good × 3.56 allocation

    $8,100

  • Appliances (range, dishwasher)listing

    $2,800 new × 40% good × 3.56 allocation

    $4,000

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 3.56 allocation

    $12,800

  • Furniture bought newlisting

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

    $26,500
15-year land improvements$112,800

  • Paving: driveway & walks (paved)default

    $11,200 new × 50% good × 3.56 allocation

    $19,900

  • Landscaping (typical)default

    $10,700 new × 50% good × 3.56 allocation

    $19,100

  • Patiosdefault

    $2,900 new × 50% good × 3.56 allocation

    $5,100

  • Decks & porches (attached)listing

    $32,600 new × 50% good × 3.56 allocation

    $58,100

  • Fencinglisting

    $6,000 new × 50% good × 3.56 allocation

    $10,700
Building, 39-year$725,100

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

    $314,600 new × 48% good × 3.56 allocation

    $541,400

  • Building plumbing & fixturesdefault

    $32,700 new × 40% good × 3.56 allocation

    $46,600

  • Building electrical & lightingdefault

    $34,000 new × 40% good × 3.56 allocation

    $48,500

  • HVACdefault

    $32,700 new × 40% good × 3.56 allocation

    $46,500

  • Hardwood & tile floorsdefault

    $9,300 new × 40% good × 3.56 allocation

    $13,300

  • Fireplaces (2)listing

    $5,300 new × 40% good × 3.56 allocation

    $7,500

  • Septic systemlisting

    $12,000 new × 50% good × 3.56 allocation

    $21,400

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$130,400$112,800$800$244,100
2$0$0$18,600$18,600
3$0$0$18,600$18,600
4$0$0$18,600$18,600
5$0$0$18,600$18,600
6+$0$0$650,000$650,000
Total$130,400$112,800$725,100$968,400

The building's share of the price ($942,000) is 3.6x our depreciated replacement cost of the home ($265,000). 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

Fannin and Gilmer counties require STR registration and lodging tax; no cap found. Blue Ridge and Ellijay city limits have their own rules; most cabins are in unincorporated county.