148 Gradient Ct
Ellijay, GA 30540
$449,500
4 bd · 4 ba · Listed 10d ago
View on Realtor.com →Year built
2004
Sqft
—
Lot sqft
35,719
HOA / mo
None
Furnished
No
List date
2026-09-17T15:00:07.000000Z
Revenue
Annual revenue
$32,109
ADR
$262
Occupancy
34%
Cleaning fees (12 mo)
$6,979
Confidence
Low (38.62), 13 comps
Comp revenue range (p25 / median / p75)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
 Hidden Hideaway Cabin | 4 bd · 3 ba · sleeps 8 | $27,743 | $164 | 46% | 5★ (18) | 0.2 mi | AirbnbVrbo |
 Deer Dew Drop Inn - Guests must be 25 years of Cabin | 4 bd · 3.5 ba · sleeps 9 | $65,395 | $404 | 44% | 4.9★ (7) | 0.2 mi | AirbnbVrbo |
 Buck Watch Lodge Cabin | 4 bd · 3 ba · sleeps 10 | $6,945 | $284 | 7% | 4.5★ (12) | 0.3 mi | AirbnbVrboBooking |
 Cold Stream Cabin - Mountain Resort Retreat Cabin | 4 bd · 3.5 ba · sleeps 10 | $49,431 | $348 | 39% | 5★ (49) | 0.5 mi | AirbnbVrbo |
 Jagged Owl | Coosawattee River Resort Cabin | 4 bd · 3 ba · sleeps 10 | $41,468 | $308 | 37% | 4.8★ (57) | 0.5 mi | AirbnbVrbo |
 Ellijay Mountain + River View Retreat | Hot Tub House | 4 bd · 4 ba · sleeps 15 | $37,387 | $349 | 29% | 3.4★ (3) | 0.6 mi | AirbnbVrboBooking |
 Ellijay Summer Escape | Hot Tub & Pets - Sleeps 15 House | 4 bd · 4 ba · sleeps 15 | $36,856 | $335 | 30% | 4.2★ (26) | 0.6 mi | AirbnbVrbo |
 4BR Cozy Cabin in Ellijay • Pets Welcome • Hot Tub House | 4 bd · 4 ba · sleeps 15 | $17,271 | $404 | 12% | 4.2★ (31) | 0.6 mi | AirbnbBooking |
 Family Cabin in Ellijay • Hot Tub • Relax & Unwind Cabin | 4 bd · 3.5 ba · sleeps 12 | $27,463 | $318 | 24% | 4.7★ (13) | 0.6 mi | AirbnbVrbo |
 Cabin at Doe Hill Cabin | 4 bd · 3 ba · sleeps 8 | $30,084 | $349 | 24% | 5★ (4) | 0.7 mi | AirbnbVrbo |
Show all 13 comps
Luxury Mountain Escape
Cabin · 4 bd · 3 ba · sleeps 8 · 0.7 mi
Revenue $3,091ADR $217Occ ≈ 4%5★ (2)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Retreat • Hot Tub • Arcade • Firepit • More! Cabin | 4 bd · 3 ba · sleeps 8 | $18,878 | $292 | 18% | 5★ (32) | 0.7 mi | AirbnbVrbo |
Deerwood Vacation home | 4 bd · 3 ba · sleeps 8 | $11,612 | $339 | 9% | — | 0.7 mi | Booking |
Luxury Mountain Escape Cabin | 4 bd · 3 ba · sleeps 8 | $3,091 | $217 | 4% | 5★ (2) | 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
Est. revenue
$32,109
NOI
$10,423
Cash flow /mo
$869
Cash needed
$490,480
Cash-on-cash (all cash)
2.1%
ROE (yr 1)
4.9%
Cap rate
2.3%
DSCR
—
Year-1 write-off
$92,169
Year-1 tax shield @ 32%
$29,494
Year-1 return on equity
- Cash flow (annual)$10,423
- Principal paydown (n/a, cash)$0
- Appreciation at%$13,485
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$6,422
- Platform fees (3% of revenue)$963
- Maintenance / capex (5% of revenue)$1,605
- Utilities & supplies$4,200
- HOA$0
- Property tax$3,641
- Insurance (STR-rated)$4,855
Cash needed to close
- Purchase price (all cash)$449,500
- Closing costs (4.0%)$17,980
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$29,494
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
$382,000
Short-life (5/15-yr)
$68,000 · 18%
Year-1 deduction
$92,000
Year-1 tax shield @ 32%
$29,000
Land 15% (market default, no usable tax-record split) · building $314,000 over 39 years · new furniture $23,000
Based on: ~2,400 sq ft (from beds), built 2004, 4 bd / 4 ba, unfurnished, listing features (deck, fireplace, stone counters, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $57,000 in year 1 (8% short-life, $18,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $6,300
Kitchen cabinetsdefault
$11,100 new × 40% good × 1.43 allocation
- $6,500
Kitchen countertops (stone)listing
$11,300 new × 40% good × 1.43 allocation
- $2,400
Decorative trimdefault
$4,200 new × 40% good × 1.43 allocation
- $300
Mirrorsdefault
$600 new × 40% good × 1.43 allocation
- $900
Shelvingdefault
$1,500 new × 40% good × 1.43 allocation
- $3,400
Window coverings (24)default
$6,000 new × 40% good × 1.43 allocation
- $6,900
Kitchen & laundry equipment plumbingdefault
$8,600 new × 56% good × 1.43 allocation
- $4,200
Kitchen, laundry & data equipment electricaldefault
$5,200 new × 56% good × 1.43 allocation
- $2,000
Appliances (range, microwave, dishwasher)listing
$3,500 new × 40% good × 1.43 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $7,300
Paving: driveway & walks (paved)default
$10,200 new × 50% good × 1.43 allocation
- $7,000
Landscaping (typical)default
$9,800 new × 50% good × 1.43 allocation
- $1,700
Patiosdefault
$2,400 new × 50% good × 1.43 allocation
- $19,300
Decks & porches (attached)listing
$27,000 new × 50% good × 1.43 allocation
- $235,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$260,100 new × 63% good × 1.43 allocation
- $21,700
Building plumbing & fixturesdefault
$27,000 new × 56% good × 1.43 allocation
- $22,200
Building electrical & lightingdefault
$27,700 new × 56% good × 1.43 allocation
- $15,500
HVACdefault
$27,000 new × 40% good × 1.43 allocation
- $8,800
Hardwood & tile floorsdefault
$15,400 new × 40% good × 1.43 allocation
- $1,500
Fireplacelisting
$2,600 new × 40% good × 1.43 allocation
- $8,600
Septic systemlisting
$12,000 new × 50% good × 1.43 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $55,900 | $35,300 | $1,000 | $92,200 |
| 2 | $0 | $0 | $8,000 | $8,000 |
| 3 | $0 | $0 | $8,000 | $8,000 |
| 4 | $0 | $0 | $8,000 | $8,000 |
| 5 | $0 | $0 | $8,000 | $8,000 |
| 6+ | $0 | $0 | $280,700 | $280,700 |
| Total | $55,900 | $35,300 | $313,900 | $405,100 |
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.