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

362 Pine Cone Rd Unit 21

Blue Ridge, GA 30513

$679,900

4 bd · 3.5 ba · 3,022 sqft · Listed 21d ago

View on Realtor.com →

Est. land %Negative cash flow

Year built

1995

Sqft

3,022

Lot sqft

15,682

HOA / mo

None

Furnished

List date

2026-09-06T00:14:17.000000Z

Revenue

Annual revenue

$52,117

ADR

$343

Occupancy

42%

Cleaning fees (12 mo)

$9,214

Confidence

Low (41.12), 18 comps

Comp revenue range (p25 / median / p75)

$33,433$52,268$74,242

Nana's Nest Getaways
Cabin · 4 bd · 3 ba · sleeps 6 · 440 ft
Revenue $10,453ADR $344Occ ≈ 8%4.3★ (72)
Airbnb Vrbo Booking
Waterfront cabin with hot tub, firepit, dock, & screened porch - dog-friendly
Cabin · 4 bd · 3 ba · sleeps 6 · 0.1 mi
Revenue $31,013ADR $318Occ ≈ 27%4.2★ (20)
Vrbo
The Bears & Bees Lodge-Lakeview, Hottub, Fireplace
Cabin · 4 bd · 3 ba · sleeps 10 · 0.2 mi
Revenue $52,739ADR $485Occ ≈ 30%5★ (2)
Airbnb Vrbo Booking
1 mile to Blue Ridge Lake, Hot Tub, Fire Pit, Pets
Cabin · 4 bd · 3 ba · sleeps 12 · 0.2 mi
Revenue $71,186ADR $299Occ ≈ 65%4.9★ (200)
Airbnb Vrbo
Chateau Althen
Cabin · 4 bd · 3 ba · sleeps 13 · 0.3 mi
Revenue $40,691ADR $381Occ ≈ 29%4.9★ (50)
Airbnb Vrbo
Cabin Weekend, Upgraded at Overlook Cabin!
Cabin · 4 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $51,797ADR $456Occ ≈ 31%5★ (3)
Airbnb Vrbo
Overlook Cabin
Vacation home · 4 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $50,562ADR $385Occ ≈ 36%—
Booking
Chateau Althen
Cabin · 4 bd · 3 ba · sleeps 12 · 0.4 mi
Revenue $17,142ADR $370Occ ≈ 13%5★ (1)
Airbnb Vrbo Booking
Away to the Lake- Lakefront, Dock, Hot Tub, Games!
Cabin · 4 bd · 3 ba · sleeps 10 · 0.5 mi
Revenue $62,875ADR $550Occ ≈ 31%4.8★ (18)
Airbnb Vrbo Booking
All Decked Out Lake House & Dock
House · 4 bd · 3 ba · sleeps 10 · 0.5 mi
Revenue $65,738ADR $446Occ ≈ 40%4.8★ (45)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Nana's Nest Getaways Cabin	4 bd · 3 ba · sleeps 6	$10,453	$344	8%	4.3★ (72)	440 ft	Airbnb Vrbo Booking
Waterfront cabin with hot tub, firepit, dock, & screened porch - dog-friendly Cabin	4 bd · 3 ba · sleeps 6	$31,013	$318	27%	4.2★ (20)	0.1 mi	Vrbo
The Bears & Bees Lodge-Lakeview, Hottub, Fireplace Cabin	4 bd · 3 ba · sleeps 10	$52,739	$485	30%	5★ (2)	0.2 mi	Airbnb Vrbo Booking
1 mile to Blue Ridge Lake, Hot Tub, Fire Pit, Pets Cabin	4 bd · 3 ba · sleeps 12	$71,186	$299	65%	4.9★ (200)	0.2 mi	Airbnb Vrbo
Chateau Althen Cabin	4 bd · 3 ba · sleeps 13	$40,691	$381	29%	4.9★ (50)	0.3 mi	Airbnb Vrbo
Cabin Weekend, Upgraded at Overlook Cabin! Cabin	4 bd · 3 ba · sleeps 10	$51,797	$456	31%	5★ (3)	0.3 mi	Airbnb Vrbo
Overlook Cabin Vacation home	4 bd · 3 ba · sleeps 10	$50,562	$385	36%	—	0.3 mi	Booking
Chateau Althen Cabin	4 bd · 3 ba · sleeps 12	$17,142	$370	13%	5★ (1)	0.4 mi	Airbnb Vrbo Booking
Away to the Lake- Lakefront, Dock, Hot Tub, Games! Cabin	4 bd · 3 ba · sleeps 10	$62,875	$550	31%	4.8★ (18)	0.5 mi	Airbnb Vrbo Booking
All Decked Out Lake House & Dock House	4 bd · 3 ba · sleeps 10	$65,738	$446	40%	4.8★ (45)	0.5 mi	Airbnb Vrbo

Show all 18 comps

Huge Outdoor Deck, Close To Lake, MinsTo Downtown
Cabin · 4 bd · 3 ba · sleeps 9 · 0.5 mi
Revenue $24,471ADR $277Occ ≈ 24%4.9★ (304)
Airbnb Vrbo
Built for Groups- Hot Tub, Game Room, A+ Location
Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.6 mi
Revenue $106,193ADR $467Occ ≈ 62%5★ (260)
Airbnb Vrbo
Modern Cabin 10 Min Downtown/River, w Firepit/View
Cabin · 4 bd · 3 ba · sleeps 10 · 0.6 mi
Revenue $16,148ADR $247Occ ≈ 18%5★ (41)
Airbnb Vrbo
*Blue Turtle*Lux~Lake~Outdoor Life~Bike~Kayak~Dogs
House · 4 bd · 4 ba · sleeps 10 · 0.6 mi
Revenue $143,034ADR $699Occ ≈ 56%5★ (67)
Airbnb Vrbo
Chalet Blue Ridge | Panoramic Views + Hot Tub
Cabin · 4 bd · 3 ba · sleeps 10 · 0.7 mi
Revenue $80,190ADR $395Occ ≈ 56%5★ (105)
Airbnb Vrbo Booking
Amazing Views+Ultra Private | Top of the Mountain
Cabin · 4 bd · 3 ba · sleeps 10 · 0.7 mi
Revenue $87,918ADR $403Occ ≈ 60%4.8★ (159)
Airbnb Vrbo Booking
Aska Acres- Mtn View, Hot Tub, Firepit, Gameroom
Cabin · 4 bd · 4 ba · sleeps 14 · 0.7 mi
Revenue $48,871ADR $633Occ ≈ 21%5★ (2)
Airbnb Vrbo
August 30%OFF BestMtnView-PoolTable-PingPong-Hottu
Cabin · 4 bd · 3 ba · sleeps 15 · 0.8 mi
Revenue $75,261ADR $249Occ ≈ 83%4.8★ (536)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Huge Outdoor Deck, Close To Lake, MinsTo Downtown Cabin	4 bd · 3 ba · sleeps 9	$24,471	$277	24%	4.9★ (304)	0.5 mi	Airbnb Vrbo
Built for Groups- Hot Tub, Game Room, A+ Location Cabin	4 bd · 3.5 ba · sleeps 10	$106,193	$467	62%	5★ (260)	0.6 mi	Airbnb Vrbo
Modern Cabin 10 Min Downtown/River, w Firepit/View Cabin	4 bd · 3 ba · sleeps 10	$16,148	$247	18%	5★ (41)	0.6 mi	Airbnb Vrbo
Blue TurtleLux~Lake~Outdoor Life~Bike~Kayak~Dogs House	4 bd · 4 ba · sleeps 10	$143,034	$699	56%	5★ (67)	0.6 mi	Airbnb Vrbo
Chalet Blue Ridge \| Panoramic Views + Hot Tub Cabin	4 bd · 3 ba · sleeps 10	$80,190	$395	56%	5★ (105)	0.7 mi	Airbnb Vrbo Booking
Amazing Views+Ultra Private \| Top of the Mountain Cabin	4 bd · 3 ba · sleeps 10	$87,918	$403	60%	4.8★ (159)	0.7 mi	Airbnb Vrbo Booking
Aska Acres- Mtn View, Hot Tub, Firepit, Gameroom Cabin	4 bd · 4 ba · sleeps 14	$48,871	$633	21%	5★ (2)	0.7 mi	Airbnb Vrbo
August 30%OFF BestMtnView-PoolTable-PingPong-Hottu Cabin	4 bd · 3 ba · sleeps 15	$75,261	$249	83%	4.8★ (536)	0.8 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

$52,117

NOI

$24,493

Cash flow /mo

-$1,623

Cash needed

$220,171

Cash-on-cash

-8.8%

ROE (yr 1)

2.4%

Cap rate

3.6%

DSCR

0.56

Year-1 write-off

$159,150

Year-1 tax shield @ 32%

$50,928

Year-1 return on equity

Cash flow (annual)-$19,472
Principal paydown$4,449
Appreciation at%$20,397

ROE2.4%

ROE incl. year-1 tax savings (32% bracket, STR loophole)25.6%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$10,423
Platform fees (3% of revenue)$1,564
Maintenance / capex (5% of revenue)$2,606
Utilities & supplies$4,200
HOA$0
Property tax$1,590
Insurance (STR-rated)$7,241

Cash needed to close

Down payment (25%)$169,975
Closing costs (4.0%)$27,196
Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

Tax shield @ 32%$50,928

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

$578,000

Short-life (5/15-yr)

$135,000 · 23%

Year-1 deduction

$159,000

Year-1 tax shield @ 32%

$51,000

Land 15% (market default, no usable tax-record split) · building $443,000 over 39 years · new furniture $23,000

Based on: 3,022 sq ft, built 1995, 4 bd / 3.5 ba, unfurnished, listing features (deck, fence, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $98,000 in year 1 (13% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$88,900

Kitchen cabinetsdefault
$12,400 new × 40% good × 2.11 allocation
$10,500
Kitchen countertopsdefault
$10,200 new × 40% good × 2.11 allocation
$8,600
Decorative trimdefault
$5,300 new × 40% good × 2.11 allocation
$4,500
Mirrorsdefault
$500 new × 40% good × 2.11 allocation
$400
Shelvingdefault
$1,500 new × 40% good × 2.11 allocation
$1,300
Window coverings (30)default
$7,500 new × 40% good × 2.11 allocation
$6,300
Carpet, vinyl & laminate (100% of floors)listing
$19,400 new × 40% good × 2.11 allocation
$16,400
Kitchen & laundry equipment plumbingdefault
$9,700 new × 40% good × 2.11 allocation
$8,100
Kitchen, laundry & data equipment electricaldefault
$5,800 new × 40% good × 2.11 allocation
$4,900
Appliances (microwave, dishwasher, refrigerator, washer, dryer)listing
$5,900 new × 40% good × 2.11 allocation
$5,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
$23,000

15-year land improvements$68,800

Paving: driveway & walks (paved)default
$11,400 new × 50% good × 2.11 allocation
$12,000
Landscaping (typical)default
$11,000 new × 50% good × 2.11 allocation
$11,500
Patiosdefault
$3,000 new × 50% good × 2.11 allocation
$3,100
Decks & porches (attached)listing
$34,000 new × 50% good × 2.11 allocation
$35,800
Fencinglisting
$6,000 new × 50% good × 2.11 allocation
$6,300

Building, 39-year$443,200

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$328,200 new × 48% good × 2.11 allocation
$334,300
Building plumbing & fixturesdefault
$34,100 new × 40% good × 2.11 allocation
$28,700
Building electrical & lightingdefault
$35,600 new × 40% good × 2.11 allocation
$30,000
HVACdefault
$34,000 new × 40% good × 2.11 allocation
$28,700
Fireplaces (4)listing
$10,500 new × 40% good × 2.11 allocation
$8,900
Septic systemlisting
$12,000 new × 50% good × 2.11 allocation
$12,600

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	$88,900	$68,800	$1,400	$159,200
2	$0	$0	$11,400	$11,400
3	$0	$0	$11,400	$11,400
4	$0	$0	$11,400	$11,400
5	$0	$0	$11,400	$11,400
6+	$0	$0	$396,300	$396,300
Total	$88,900	$68,800	$443,200	$600,900

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.