Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

325 Austin St

Blue Ridge, GA 30513

$465,000

2 bd · 2 ba · 1,224 sqft · Listed 10d ago

View on Realtor.com →

Negative cash flow

Year built

1967

Sqft

1,224

Lot sqft

24,829

HOA / mo

None

Furnished

List date

2026-09-17T13:39:14.000000Z

Revenue

Annual revenue

$54,826

ADR

$267

Occupancy

56%

Cleaning fees (12 mo)

$10,728

Confidence

Med (57.2), 27 comps

Comp revenue range (p25 / median / p75)

$35,718$55,609$61,700

Runner's Roost|Hot Tub|Pool Table|Dogs Welcome
Cabin · 2 bd · 2 ba · sleeps 6 · 0.1 mi
Revenue $55,609ADR $242Occ ≈ 63%5★ (217)
Airbnb Vrbo Booking
Downtown Digs - pet friendly 2/2 in downtown BR
House · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $37,679ADR $262Occ ≈ 39%5★ (29)
Airbnb
Martini Mountain Downtown Loft
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $12,917ADR $269Occ ≈ 13%5★ (8)
Airbnb
Lovely Brick Cottage in Downtown Blue Ridge
Vacation home · 2 bd · 1 ba · sleeps 4 · 0.3 mi
Revenue $41,314ADR $236Occ ≈ 48%5★ (186)
Airbnb Vrbo
Middle of Main Street LOFT Downtown Blue Ridge
Cottage · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $30,543ADR $238Occ ≈ 35%5★ (38)
Airbnb Vrbo
Luxe Loft in DT BlueRidge Near Shops w/ EV Charger
Loft · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $77,660ADR $370Occ ≈ 58%5★ (253)
Airbnb Vrbo Booking
Perch 3- DT Blue Ridge Condo, King Beds, Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 5 · 0.3 mi
Revenue $56,644ADR $370Occ ≈ 42%4.7★ (32)
Airbnb Vrbo Booking
Beautiful Condo in Downtown Blue Ridge!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $58,751ADR $258Occ ≈ 62%5★ (349)
Airbnb Vrbo
Perch 2- DT Blue Ridge, Walk 2 Shops & Restaurants
Condominium (condo) · 2 bd · 2 ba · sleeps 5 · 0.3 mi
Revenue $62,330ADR $370Occ ≈ 46%4.8★ (30)
Airbnb Vrbo Booking
Top floor condo overlooking historic Downtown Blue Ridge!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $53,522ADR $349Occ ≈ 42%5★ (158)
Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Runner's Roost\|Hot Tub\|Pool Table\|Dogs Welcome Cabin	2 bd · 2 ba · sleeps 6	$55,609	$242	63%	5★ (217)	0.1 mi	Airbnb Vrbo Booking
Downtown Digs - pet friendly 2/2 in downtown BR House	2 bd · 2 ba · sleeps 4	$37,679	$262	39%	5★ (29)	0.2 mi	Airbnb
Martini Mountain Downtown Loft Condominium (condo)	2 bd · 2 ba · sleeps 4	$12,917	$269	13%	5★ (8)	0.2 mi	Airbnb
Lovely Brick Cottage in Downtown Blue Ridge Vacation home	2 bd · 1 ba · sleeps 4	$41,314	$236	48%	5★ (186)	0.3 mi	Airbnb Vrbo
Middle of Main Street LOFT Downtown Blue Ridge Cottage	2 bd · 2 ba · sleeps 4	$30,543	$238	35%	5★ (38)	0.3 mi	Airbnb Vrbo
Luxe Loft in DT BlueRidge Near Shops w/ EV Charger Loft	2 bd · 2 ba · sleeps 4	$77,660	$370	58%	5★ (253)	0.3 mi	Airbnb Vrbo Booking
Perch 3- DT Blue Ridge Condo, King Beds, Balcony Condominium (condo)	2 bd · 2 ba · sleeps 5	$56,644	$370	42%	4.7★ (32)	0.3 mi	Airbnb Vrbo Booking
Beautiful Condo in Downtown Blue Ridge! Condominium (condo)	2 bd · 2 ba · sleeps 4	$58,751	$258	62%	5★ (349)	0.3 mi	Airbnb Vrbo
Perch 2- DT Blue Ridge, Walk 2 Shops & Restaurants Condominium (condo)	2 bd · 2 ba · sleeps 5	$62,330	$370	46%	4.8★ (30)	0.3 mi	Airbnb Vrbo Booking
Top floor condo overlooking historic Downtown Blue Ridge! Condominium (condo)	2 bd · 2 ba · sleeps 4	$53,522	$349	42%	5★ (158)	0.3 mi	Vrbo

Show all 27 comps

Martini Mountain Downtown Loft
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $11,915ADR $363Occ ≈ 9%5★ (1)
Vrbo
SHOP, DINE, UNWIND…All from a Downtown Penthouse!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $41,915ADR $336Occ ≈ 34%5★ (88)
Vrbo
Heart of Downtown| Lux Condo| Walk to Everything |
Apartment · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $65,967ADR $295Occ ≈ 61%5★ (177)
Airbnb Vrbo Booking
Firefly Farmhouse- River Front, Outdoor Fireplace
House · 2 bd · 2.5 ba · sleeps 6 · 0.3 mi
Revenue $60,869ADR $342Occ ≈ 49%5★ (21)
Airbnb Vrbo Booking
DTBR - Summer Fun! Two King Beds, Dine, Shop!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $69,032ADR $266Occ ≈ 71%5★ (372)
Airbnb
Modern Rustic Loft Suite in Downtown Blue Ridge
Loft · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $61,069ADR $215Occ ≈ 78%5★ (245)
Airbnb Vrbo Booking
Postcard Perfect Downtown- Walk 2 Shops & Dining!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.4 mi
Revenue $54,230ADR $308Occ ≈ 48%4.9★ (20)
Airbnb Vrbo Booking
Charming 2BR Cottage in Downtown Blue Ridge
Cottage · 2 bd · 2 ba · sleeps 4 · 0.4 mi
Revenue $32,942ADR $250Occ ≈ 36%5★ (152)
Airbnb Vrbo
Treehouse Sauna + Hot Tub | Mountain Views
House · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $81,457ADR $303Occ ≈ 74%5★ (106)
Airbnb
Walk to Shops | Luxury cottage | Firepit & Bikes
House · 2 bd · 1 ba · sleeps 4 · 0.4 mi
Revenue $60,407ADR $232Occ ≈ 71%4.9★ (283)
Airbnb Vrbo
Walk to Downtown Blue Ridge | Dog OK + Bungalow
Tiny house · 2 bd · 1 ba · sleeps 4 · 0.5 mi
Revenue $65,350ADR $269Occ ≈ 67%5★ (314)
Airbnb Vrbo Booking
Eagles View - Blue Ridge
Cabin · 2 bd · 2.5 ba · sleeps 4 · 0.5 mi
Revenue $62,563ADR $303Occ ≈ 57%4.7★ (43)
Airbnb Vrbo Booking
Limelight Cottage, Walk to Downtown, No Mgmt Fees!
Cottage · 2 bd · 2.5 ba · sleeps 4 · 0.6 mi
Revenue $35,712ADR $262Occ ≈ 37%5★ (228)
Airbnb Vrbo
Blue Owl Cottage
Guest house · 2 bd · 1 ba · sleeps 6 · 0.6 mi
Revenue $532ADR $266Occ ≈ 1%5★ (1)
Airbnb
Mountaintop Blue Ridge Cabin: 2 Mi to Downtown
Cabin · 2 bd · 2 ba · sleeps 4 · 0.6 mi
Revenue $18,089ADR $246Occ ≈ 20%4.8★ (17)
Airbnb Vrbo Booking
Luxury Cabin in Blue Ridge | Sauna, Hot Tub, Gym
Cabin · 2 bd · 2 ba · sleeps 5 · 0.6 mi
Revenue $35,724ADR $287Occ ≈ 34%5★ (29)
Airbnb Vrbo
Tree Top Hideaway - Private with Games + Firepit!
Cabin · 2 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $56,006ADR $223Occ ≈ 69%5★ (1)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Martini Mountain Downtown Loft Condominium (condo)	2 bd · 2 ba · sleeps 4	$11,915	$363	9%	5★ (1)	0.3 mi	Vrbo
SHOP, DINE, UNWIND…All from a Downtown Penthouse! Condominium (condo)	2 bd · 2 ba · sleeps 4	$41,915	$336	34%	5★ (88)	0.3 mi	Vrbo
Heart of Downtown\| Lux Condo\| Walk to Everything \| Apartment	2 bd · 2 ba · sleeps 4	$65,967	$295	61%	5★ (177)	0.3 mi	Airbnb Vrbo Booking
Firefly Farmhouse- River Front, Outdoor Fireplace House	2 bd · 2.5 ba · sleeps 6	$60,869	$342	49%	5★ (21)	0.3 mi	Airbnb Vrbo Booking
DTBR - Summer Fun! Two King Beds, Dine, Shop! Condominium (condo)	2 bd · 2 ba · sleeps 4	$69,032	$266	71%	5★ (372)	0.3 mi	Airbnb
Modern Rustic Loft Suite in Downtown Blue Ridge Loft	2 bd · 2 ba · sleeps 6	$61,069	$215	78%	5★ (245)	0.4 mi	Airbnb Vrbo Booking
Postcard Perfect Downtown- Walk 2 Shops & Dining! Condominium (condo)	2 bd · 2 ba · sleeps 4	$54,230	$308	48%	4.9★ (20)	0.4 mi	Airbnb Vrbo Booking
Charming 2BR Cottage in Downtown Blue Ridge Cottage	2 bd · 2 ba · sleeps 4	$32,942	$250	36%	5★ (152)	0.4 mi	Airbnb Vrbo
Treehouse Sauna + Hot Tub \| Mountain Views House	2 bd · 2 ba · sleeps 6	$81,457	$303	74%	5★ (106)	0.4 mi	Airbnb
Walk to Shops \| Luxury cottage \| Firepit & Bikes House	2 bd · 1 ba · sleeps 4	$60,407	$232	71%	4.9★ (283)	0.4 mi	Airbnb Vrbo
Walk to Downtown Blue Ridge \| Dog OK + Bungalow Tiny house	2 bd · 1 ba · sleeps 4	$65,350	$269	67%	5★ (314)	0.5 mi	Airbnb Vrbo Booking
Eagles View - Blue Ridge Cabin	2 bd · 2.5 ba · sleeps 4	$62,563	$303	57%	4.7★ (43)	0.5 mi	Airbnb Vrbo Booking
Limelight Cottage, Walk to Downtown, No Mgmt Fees! Cottage	2 bd · 2.5 ba · sleeps 4	$35,712	$262	37%	5★ (228)	0.6 mi	Airbnb Vrbo
Blue Owl Cottage Guest house	2 bd · 1 ba · sleeps 6	$532	$266	1%	5★ (1)	0.6 mi	Airbnb
Mountaintop Blue Ridge Cabin: 2 Mi to Downtown Cabin	2 bd · 2 ba · sleeps 4	$18,089	$246	20%	4.8★ (17)	0.6 mi	Airbnb Vrbo Booking
Luxury Cabin in Blue Ridge \| Sauna, Hot Tub, Gym Cabin	2 bd · 2 ba · sleeps 5	$35,724	$287	34%	5★ (29)	0.6 mi	Airbnb Vrbo
Tree Top Hideaway - Private with Games + Firepit! Cabin	2 bd · 2 ba · sleeps 6	$56,006	$223	69%	5★ (1)	0.7 mi	Airbnb Vrbo

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

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracket

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$54,826

NOI

$29,501

Cash flow /mo

-$47

Cash needed

$150,850

Cash-on-cash

-0.4%

ROE (yr 1)

10.9%

Cap rate

6.3%

DSCR

0.98

Year-1 write-off

$101,127

Year-1 tax shield @ 32%

$32,361

Year-1 return on equity

Cash flow (annual)-$567
Principal paydown$3,043
Appreciation at%$13,950

ROE10.9%

ROE incl. year-1 tax savings (32% bracket, STR loophole)32.3%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$10,965
Platform fees (3% of revenue)$1,645
Maintenance / capex (5% of revenue)$2,741
Utilities & supplies$4,200
HOA$0
Property tax$821
Insurance (STR-rated)$4,952

Cash needed to close

Down payment (25%)$116,250
Closing costs (4.0%)$18,600
Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

Tax shield @ 32%$32,361

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

$342,000

Short-life (5/15-yr)

$84,000 · 25%

Year-1 deduction

$101,000

Year-1 tax shield @ 32%

$32,000

Land 26% (county tax record, market value split) · building $257,000 over 39 years · new furniture $16,000

Based on: 1,224 sq ft, built 1967, 2 bd / 2 ba, unfurnished, listing features (flooring types, appliance list).

IRS-guide safe-harbor floor: $72,000 in year 1 (16% short-life, $23,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$70,700

Kitchen cabinetsdefault
$8,500 new × 40% good × 3.56 allocation
$12,100
Kitchen countertopsdefault
$6,900 new × 40% good × 3.56 allocation
$9,900
Decorative trimdefault
$2,100 new × 40% good × 3.56 allocation
$3,100
Mirrorsdefault
$300 new × 40% good × 3.56 allocation
$400
Shelvingdefault
$900 new × 40% good × 3.56 allocation
$1,300
Window coverings (12)default
$3,000 new × 40% good × 3.56 allocation
$4,300
Kitchen & laundry equipment plumbingdefault
$6,600 new × 40% good × 3.56 allocation
$9,400
Kitchen, laundry & data equipment electricaldefault
$4,000 new × 40% good × 3.56 allocation
$5,700
Appliances (range, dishwasher, refrigerator, washer)listing
$6,000 new × 40% good × 3.56 allocation
$8,500
Furniture bought newlisting
$16,000 new × 100% good · bought separately
$16,000

15-year land improvements$29,600

Paving: driveway & walks (paved)default
$7,300 new × 50% good × 3.56 allocation
$12,900
Landscaping (typical)default
$7,000 new × 50% good × 3.56 allocation
$12,400
Patiosdefault
$1,200 new × 50% good × 3.56 allocation
$2,200
Decks & porches (attached)default
$1,200 new × 50% good × 3.56 allocation
$2,200

Building, 39-year$257,500

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$132,500 new × 40% good × 3.56 allocation
$188,800
Building plumbing & fixturesdefault
$13,700 new × 40% good × 3.56 allocation
$19,600
Building electrical & lightingdefault
$12,800 new × 40% good × 3.56 allocation
$18,200
HVACdefault
$13,800 new × 40% good × 3.56 allocation
$19,600
Hardwood & tile floorsdefault
$7,900 new × 40% good × 3.56 allocation
$11,200

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$70,700	$29,600	$800	$101,100
2	$0	$0	$6,600	$6,600
3	$0	$0	$6,600	$6,600
4	$0	$0	$6,600	$6,600
5	$0	$0	$6,600	$6,600
6+	$0	$0	$230,300	$230,300
Total	$70,700	$29,600	$257,500	$357,800

The building's share of the price ($342,000) is 3.6x our depreciated replacement cost of the home ($96,000). 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.