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

1359 Salem Rd

1359 Salem Rd

Mineral Bluff, GA 30559

$329,999

6 bd · 2.5 ba · 2,694 sqft · Listed 12d ago

View on Realtor.com →
Low confidence

Year built

1987

Sqft

2,694

Lot sqft

43,560

HOA / mo

None

Furnished

No

List date

2026-09-15T16:05:42.000000Z

Revenue

Annual revenue

$49,355

ADR

$435

Occupancy

31%

Cleaning fees (12 mo)

$6,280

Confidence

Med (55.05), 7 comps

Comp revenue range (p25 / median / p75)

$37,624$47,142$56,431

  • Gorgeous 6BR Cabin w/Spa, Firepit, Arcade& Mountai

    Cabin · 6 bd · 3.5 ba · sleeps 14 · 1.3 mi

    Revenue $49,939ADR $507Occ ≈ 27%4.7★ (114)

    AirbnbVrboBooking

  • Luxe Modern Cabin, Amazing View, Hot Tub, Firepit

    Cabin · 5 bd · 3.5 ba · sleeps 12 · 1.4 mi

    Revenue $86,412ADR $616Occ ≈ 38%5★ (33)

    AirbnbVrbo

  • 150° Mtn Views! Fast Wifi, Hot Tub, Firepit!

    Cabin · 5 bd · 3.5 ba · sleeps 15 · 1.4 mi

    Revenue $33,774ADR $386Occ ≈ 24%4.8★ (156)

    AirbnbVrbo

  • Mountain Memories -Pet Friendly, Hot Tub, Games!

    Cabin · 5 bd · 3 ba · sleeps 10 · 1.8 mi

    Revenue $41,473ADR $564Occ ≈ 20%5★ (1)

    AirbnbVrbo

  • Get a New Altitude highest peak of Stuart Mountain

    Cabin · 5 bd · 3.5 ba · sleeps 12 · 1.8 mi

    Revenue $47,142ADR $707Occ ≈ 18%4.2★ (6)

    AirbnbVrbo

  • Get a New Altitude

    Vacation home · 5 bd · 3 ba · sleeps 12 · 1.9 mi

    Revenue $62,922ADR $599Occ ≈ 29%—

    Booking

  • Blue Ridge Mountain Retreat

    Cabin · 5 bd · 3 ba · sleeps 13 · 2.1 mi

    Revenue $17,887ADR $577Occ ≈ 8%5★ (4)

    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
Term

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

Est. revenue

$49,355

NOI

$26,358

Cash flow /mo

$418

Cash needed

$125,700

Cash-on-cash

4.0%

ROE (yr 1)

13.6%

Cap rate

8.0%

DSCR

1.24

Year-1 write-off

$83,556

Year-1 tax shield @ 32%

$26,738

Year-1 return on equity

  • Cash flow (annual)$5,019
  • Principal paydown$2,159
  • Appreciation at%$9,900
ROE13.6%
ROE incl. year-1 tax savings (32% bracket, STR loophole)34.9%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$9,871
  • Platform fees (3% of revenue)$1,481
  • Maintenance / capex (5% of revenue)$2,468
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,463
  • Insurance (STR-rated)$3,514

Cash needed to close

  • Down payment (25%)$82,500
  • Closing costs (4.0%)$13,200
  • Furnishing (bought new)$30,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$26,738

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

$280,000

Short-life (5/15-yr)

$53,000 · 19%

Year-1 deduction

$84,000

Year-1 tax shield @ 32%

$27,000

Land 15% (county tax record, market value split) · building $227,000 over 39 years · new furniture $30,000

Based on: 2,694 sq ft, built 1987, 6 bd / 2.5 ba, unfurnished, listing features (fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $66,000 in year 1 (13% short-life, $21,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$64,600

  • Kitchen cabinetsdefault

    $11,700 new × 40% good × 1.38 allocation

    $6,500

  • Kitchen countertopsdefault

    $9,600 new × 40% good × 1.38 allocation

    $5,300

  • Decorative trimdefault

    $4,700 new × 40% good × 1.38 allocation

    $2,600

  • Mirrorsdefault

    $300 new × 40% good × 1.38 allocation

    $200

  • Shelvingdefault

    $2,100 new × 40% good × 1.38 allocation

    $1,200

  • Window coverings (27)default

    $6,800 new × 40% good × 1.38 allocation

    $3,700

  • Carpet, vinyl & laminate (40% of floors)listing

    $6,900 new × 40% good × 1.38 allocation

    $3,800

  • Kitchen & laundry equipment plumbingdefault

    $9,100 new × 40% good × 1.38 allocation

    $5,000

  • Kitchen, laundry & data equipment electricaldefault

    $5,500 new × 40% good × 1.38 allocation

    $3,000

  • Appliances (range, refrigerator, washer, dryer)listing

    $6,000 new × 40% good × 1.38 allocation

    $3,300

  • Furniture bought newlisting

    $30,000 new × 100% good · bought separately

    $30,000
15-year land improvements$18,200

  • Paving: driveway & walks (paved)default

    $10,800 new × 50% good × 1.38 allocation

    $7,400

  • Landscaping (typical)default

    $10,400 new × 50% good × 1.38 allocation

    $7,100

  • Patiosdefault

    $2,700 new × 50% good × 1.38 allocation

    $1,800

  • Decks & porches (attached)default

    $2,700 new × 50% good × 1.38 allocation

    $1,800
Building, 39-year$227,400

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

    $292,000 new × 40% good × 1.38 allocation

    $161,100

  • Building plumbing & fixturesdefault

    $30,400 new × 40% good × 1.38 allocation

    $16,800

  • Building electrical & lightingdefault

    $31,400 new × 40% good × 1.38 allocation

    $17,300

  • HVACdefault

    $30,300 new × 40% good × 1.38 allocation

    $16,700

  • Hardwood & tile floorsdefault

    $10,400 new × 40% good × 1.38 allocation

    $5,700

  • Fireplacelisting

    $2,600 new × 40% good × 1.38 allocation

    $1,500

  • Septic systemlisting

    $12,000 new × 50% good × 1.38 allocation

    $8,300

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$64,600$18,200$700$83,600
2$0$0$5,800$5,800
3$0$0$5,800$5,800
4$0$0$5,800$5,800
5$0$0$5,800$5,800
6+$0$0$203,400$203,400
Total$64,600$18,200$227,400$310,200

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.