229 Old Mill Pond Rd
Mineral Bluff, GA 30559
$799,000
4 bd · 3 ba · 2,400 sqft · Listed 8d ago
View on Realtor.com →Year built
2002
Sqft
2,400
Lot sqft
67,082
HOA / mo
$0
Furnished
No
List date
2026-09-19T16:04:11.000000Z
Revenue
Annual revenue
$58,742
ADR
$434
Occupancy
37%
Cleaning fees (12 mo)
$6,885
Confidence
Low (22.67), 7 comps
Comp revenue range (p25 / median / p75)
Tranquility Ranch
Vacation home · 4 bd · 3 ba · sleeps 10 · 43 ft
Revenue $35,144ADR $452Occ ≈ 21%—
Mountain Memories is a sensational family cabin wi
Cabin · 4 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $43,422ADR $354Occ ≈ 34%4.8★ (35)
The Wizard Hideout - Immersive Wizard-Themed Cabin for Groups Near Blue Ridge
Cabin · 4 bd · 3 ba · sleeps 8 · 0.5 mi
Revenue $24,868ADR $460Occ ≈ 15%5★
Rushing River Retreat
Vacation home · 4 bd · 4 ba · sleeps 10 · 0.7 mi
Revenue $157,826ADR $740Occ ≈ 58%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Tranquility Ranch Vacation home | 4 bd · 3 ba · sleeps 10 | $35,144 | $452 | 21% | — | 43 ft | Booking |
Tranquility Ranch- Hot Tub, Billiards, Fire Pit Cabin | 4 bd · 3 ba · sleeps 10 | $33,961 | $438 | 21% | 4.5★ (11) | 315 ft | AirbnbVrbo |
Mountain Memories is a sensational family cabin wi Cabin | 4 bd · 3 ba · sleeps 8 | $43,422 | $354 | 34% | 4.8★ (35) | 0.4 mi | Airbnb |
The Wizard Hideout - Immersive Wizard-Themed Cabin for Groups Near Blue Ridge Cabin | 4 bd · 3 ba · sleeps 8 | $24,868 | $460 | 15% | 5★ | 0.5 mi | Vrbo |
The Wizard Hideout Cabin | 4 bd · 2.5 ba · sleeps 8 | $63,020 | $420 | 41% | 5★ (17) | 0.6 mi | AirbnbVrbo |
Rushing River Retreat Vacation home | 4 bd · 4 ba · sleeps 10 | $157,826 | $740 | 58% | — | 0.7 mi | Booking |
Rushing River Retreat- HotTub, Game Rm, Luxury! Cabin | 4 bd · 4 ba · sleeps 10 | $143,944 | $787 | 50% | 4.8★ (17) | 0.7 mi | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$58,742
NOI
$27,631
Cash flow /mo
-$2,003
Cash needed
$260,710
Cash-on-cash
-9.2%
ROE (yr 1)
2.0%
Cap rate
3.5%
DSCR
0.53
Year-1 write-off
$159,253
Year-1 tax shield @ 32%
$50,961
Year-1 return on equity
- Cash flow (annual)-$24,035
- Principal paydown$5,229
- Appreciation at%$23,970
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,748
- Platform fees (3% of revenue)$1,762
- Maintenance / capex (5% of revenue)$2,937
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,954
- Insurance (STR-rated)$8,509
Cash needed to close
- Down payment (25%)$199,750
- Closing costs (4.0%)$31,960
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$50,961
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
$769,000
Short-life (5/15-yr)
$128,000 · 17%
Year-1 deduction
$159,000
Year-1 tax shield @ 32%
$51,000
Land 4% (county tax record, market value split) · building $641,000 over 39 years · new furniture $29,000
Based on: 2,400 sq ft, built 2002, 4 bd / 3 ba, unfurnished, listing features (hot tub, game room, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $123,000 in year 1 (12% short-life, $39,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $13,700
Kitchen cabinetsdefault
$11,100 new × 40% good × 3.10 allocation
- $11,200
Kitchen countertopsdefault
$9,000 new × 40% good × 3.10 allocation
- $5,200
Decorative trimdefault
$4,200 new × 40% good × 3.10 allocation
- $600
Mirrorsdefault
$500 new × 40% good × 3.10 allocation
- $1,900
Shelvingdefault
$1,500 new × 40% good × 3.10 allocation
- $7,400
Window coverings (24)default
$6,000 new × 40% good × 3.10 allocation
- $6,400
Carpet, vinyl & laminate (33% of floors)listing
$5,100 new × 40% good × 3.10 allocation
- $13,900
Kitchen & laundry equipment plumbingdefault
$8,600 new × 52% good × 3.10 allocation
- $8,400
Kitchen, laundry & data equipment electricaldefault
$5,200 new × 52% good × 3.10 allocation
- $10,100
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 40% good × 3.10 allocation
- $11,200
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.10 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $15,800
Paving: driveway & walks (paved)default
$10,200 new × 50% good × 3.10 allocation
- $15,200
Landscaping (typical)default
$9,800 new × 50% good × 3.10 allocation
- $3,700
Patiosdefault
$2,400 new × 50% good × 3.10 allocation
- $3,700
Decks & porches (attached)default
$2,400 new × 50% good × 3.10 allocation
- $484,600
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$260,300 new × 60% good × 3.10 allocation
- $43,600
Building plumbing & fixturesdefault
$27,000 new × 52% good × 3.10 allocation
- $44,700
Building electrical & lightingdefault
$27,700 new × 52% good × 3.10 allocation
- $33,600
HVACdefault
$27,000 new × 40% good × 3.10 allocation
- $12,800
Hardwood & tile floorsdefault
$10,300 new × 40% good × 3.10 allocation
- $3,300
Fireplacelisting
$2,600 new × 40% good × 3.10 allocation
- $18,600
Septic systemlisting
$12,000 new × 50% good × 3.10 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $118,900 | $38,300 | $2,100 | $159,300 |
| 2 | $0 | $0 | $16,400 | $16,400 |
| 3 | $0 | $0 | $16,400 | $16,400 |
| 4 | $0 | $0 | $16,400 | $16,400 |
| 5 | $0 | $0 | $16,400 | $16,400 |
| 6+ | $0 | $0 | $573,300 | $573,300 |
| Total | $118,900 | $38,300 | $641,100 | $798,300 |
The building's share of the price ($769,000) is 3.1x our depreciated replacement cost of the home ($248,000). 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: Georgia disallows 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.