178 Novena Ct
Ellijay, GA 30540
$749,900
3 bd · 2.5 ba · 2,598 sqft · Listed 24d ago
View on Realtor.com →Year built
2000
Sqft
2,598
Lot sqft
33,977
HOA / mo
$99
Furnished
No
List date
2026-09-03T18:31:28.000000Z
Revenue
Annual revenue
$44,291
ADR
$268
Occupancy
45%
Cleaning fees (12 mo)
$8,969
Confidence
Low (38.69), 50 comps
Comp revenue range (p25 / median / p75)
Valhalla - Secluded, luxurious cabin on the Coosawattee River Resort
Cabin · 3 bd · 3.5 ba · sleeps 10 · 0.3 mi
Revenue $16,866ADR $441Occ ≈ 10%3.7★ (3)
NEW BUILD River view/access, Pool table, Hot Tub
Cabin · 3 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $55,281ADR $445Occ ≈ 34%5★ (14)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Tie One On The River | Ellijay, GA Cabin | 3 bd · 2.5 ba · sleeps 6 | $71,834 | $340 | 58% | 4.8★ (55) | 210 ft | AirbnbVrbo |
Dream Weaver | Ellijay, Ga Cabin | 3 bd · 2.5 ba · sleeps 6 | $41,220 | $367 | 31% | 4.7★ (8) | 377 ft | AirbnbVrbo |
Dellinger Retreat On The River | Ellijay, GA Cabin | 3 bd · 2.5 ba · sleeps 6 | $36,432 | $397 | 25% | 4.8★ (9) | 515 ft | AirbnbVrbo |
Kid-Friendly Cabin, Hot Tub, Peaceful Ellijay Stay Cabin | 3 bd · 2 ba · sleeps 6 | $21,510 | $175 | 34% | 4.7★ (31) | 0.1 mi | AirbnbVrbo |
Château Cervidae | Luxury 3BR/3.5BA Cabin | Hot Tub House | 3 bd · 3.5 ba · sleeps 8 | $36,348 | $505 | 20% | 5★ (5) | 0.2 mi | AirbnbVrbo |
Eagle View Lodge | Ellijay, GA Cabin | 3 bd · 3 ba · sleeps 6 | $57,156 | $369 | 42% | 5★ (45) | 0.3 mi | AirbnbVrbo |
Valhalla - Secluded, luxurious cabin on the Coosawattee River Resort Cabin | 3 bd · 3.5 ba · sleeps 10 | $16,866 | $441 | 10% | 3.7★ (3) | 0.3 mi | Vrbo |
NEW BUILD River view/access, Pool table, Hot Tub Cabin | 3 bd · 3 ba · sleeps 10 | $55,281 | $445 | 34% | 5★ (14) | 0.3 mi | Airbnb |
Deer Dreaming Cabin on the Coosawattee River Cabin | 3 bd · 3 ba · sleeps 6 | $55,121 | $232 | 65% | 5★ (102) | 0.3 mi | AirbnbVrbo |
North Georgia Hideaway | Ellijay, GA Cabin | 3 bd · 3.5 ba · sleeps 8 | $52,498 | $383 | 38% | 5★ (9) | 0.3 mi | AirbnbVrbo |
Show all 50 comps
Secluded Roaring River Escape w/Amazing Amenities!
Cabin · 3 bd · 3 ba · sleeps 7 · 0.4 mi
Revenue $41,563ADR $235Occ ≈ 48%4.8★ (393)
Cabin at Coosawattee River Resort with private hot tub, pool & river access
Cabin · 3 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $19,131ADR $294Occ ≈ 18%4.9★ (14)
Whitetail River Retreat
Cabin · 3 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $13,846ADR $411Occ ≈ 9%—
Secluded Coosawattee Cabin: Ideal Ellijay Retreat for Rest & Relaxation
Cabin · 3 bd · 3 ba · sleeps 9 · 0.5 mi
Revenue $3,769ADR $471Occ ≈ 2%5★
Beautiful River House On The River!
House · 3 bd · 2 ba · sleeps 8 · 0.5 mi
Revenue $17,530ADR $239Occ ≈ 20%4.8★ (16)
Upscale spacious cabin with decks on 3 levels
Cabin · 3 bd · 3.5 ba · sleeps 10 · 0.5 mi
Revenue $40,723ADR $236Occ ≈ 47%5★ (112)
Riverfront Cabin w/ Hot-tub, peaceful escape
Cabin · 3 bd · 2.5 ba · sleeps 7 · 0.5 mi
Revenue $28,871ADR $250Occ ≈ 32%5★ (16)
Riveredge Escape Cabin-Tubing, PlaySet, Resort
Vacation home · 3 bd · 2 ba · sleeps 6 · 0.5 mi
Revenue $11,055ADR $544Occ ≈ 6%—
R & R River | No Pet Fees | Sleeps 6 | Coosawattee | pool table | sauna
Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi
Revenue $54,432ADR $315Occ ≈ 47%4.8★ (107)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Copper Lantern Stays Cabin | 3 bd · 3 ba · sleeps 8 | $1,055 | $218 | 1% | 4.5★ (17) | 0.3 mi | AirbnbVrboBooking |
Shady River Retreat House | 3 bd · 3 ba · sleeps 6 | $34,514 | $203 | 47% | 4.9★ (211) | 0.3 mi | AirbnbVrbo |
Coosawattee-2 Kings, Hot Tub, Pool Table, Fire Pit House | 3 bd · 3 ba · sleeps 6 | $31,632 | $247 | 35% | 5★ (102) | 0.3 mi | AirbnbVrbo |
New - Luxurious Mountain Home for 8 w/ amenities Cabin | 3 bd · 2.5 ba · sleeps 8 | $45,929 | $296 | 43% | 4.8★ (16) | 0.3 mi | AirbnbVrboBooking |
Private Hot Tub Cabin—Dog Run, Theater & Arcade Cabin | 3 bd · 2.5 ba · sleeps 6 | $68,408 | $276 | 68% | 5★ (120) | 0.4 mi | AirbnbVrboBooking |
'Next Stop Heaven' Game Room & Multiple Decks Cabin | 3 bd · 3 ba · sleeps 10 | $35,486 | $318 | 31% | 5★ (46) | 0.4 mi | AirbnbVrboBooking |
Secluded Roaring River Escape w/Amazing Amenities! Cabin | 3 bd · 3 ba · sleeps 7 | $41,563 | $235 | 48% | 4.8★ (393) | 0.4 mi | Airbnb |
Cabin at Coosawattee River Resort with private hot tub, pool & river access Cabin | 3 bd · 3 ba · sleeps 8 | $19,131 | $294 | 18% | 4.9★ (14) | 0.4 mi | Vrbo |
Rustic Retreat Cabin | 3 bd · 2.5 ba · sleeps 8 | $60,321 | $232 | 71% | 5★ (75) | 0.4 mi | AirbnbVrbo |
Cozy Fall Cabin in Ellijay + Hot Tub + Sleeps 8! Cabin | 3 bd · 3 ba · sleeps 8 | $48,549 | $289 | 46% | 5★ (167) | 0.4 mi | AirbnbVrboBooking |
River’s Echo - Riverfront Cabin in Ellijay Cabin | 3 bd · 3 ba · sleeps 6 | $71,765 | $299 | 66% | 5★ (330) | 0.4 mi | AirbnbVrbo |
New Listing: Secluded Heavenly Views 3 Bedroom, 2. Cabin | 3 bd · 2.5 ba · sleeps 7 | $14,302 | $361 | 11% | — | 0.4 mi | AirbnbVrbo |
Whitetail River Retreat Cabin | 3 bd · 2 ba · sleeps 6 | $13,846 | $411 | 9% | — | 0.4 mi | Airbnb |
Expansive Mountain Views | Coffee Bar & Comfy Beds Cabin | 3 bd · 2.5 ba · sleeps 7 | $24,242 | $282 | 24% | 5★ (14) | 0.4 mi | AirbnbVrbo |
Cozy Blue Ridge Cabin • Firepit • Near Orchards Cabin | 3 bd · 2 ba · sleeps 8 | $8,717 | $198 | 12% | 5★ (3) | 0.4 mi | AirbnbVrbo |
Rustic Retreat - Paradise Found Cabin | 3 bd · 2.5 ba · sleeps 8 | $17,903 | $168 | 29% | 5★ (4) | 0.4 mi | AirbnbVrboBooking |
Serene Cottage Retreat w/ Hot tub, 2 Fireplaces! Cabin | 3 bd · 3.5 ba · sleeps 8 | $49,361 | $293 | 46% | 5★ (78) | 0.4 mi | AirbnbVrbo |
Bucks Bear Lodge - Recharge in a Riverside Resort Cabin | 3 bd · 3 ba · sleeps 8 | $47,329 | $350 | 37% | 4.9★ (22) | 0.4 mi | AirbnbVrboBooking |
Rapids’ Echo - Riverfront Cabin in Ellijay Cabin | 3 bd · 3 ba · sleeps 8 | $70,888 | $296 | 66% | 5★ (290) | 0.5 mi | AirbnbVrbo |
Rapid Retreat-Coosawattee Cabin | 3 bd · 3 ba · sleeps 8 | $66,832 | $286 | 64% | 4.8★ (90) | 0.5 mi | AirbnbVrboBooking |
Hot Tub|Fire Pit|Game Room LUX family retreat Cabin | 3 bd · 3 ba · sleeps 8 | $52,159 | $246 | 58% | 5★ (89) | 0.5 mi | AirbnbVrbo |
Creekfront Cabin with Waterfall, Hot Tub, Fire Pit House | 3 bd · 2 ba · sleeps 6 | $41,373 | $223 | 51% | 5★ (130) | 0.5 mi | AirbnbVrbo |
Cozy Blue Ridge Cabin w/ River Access & Fire Pit Cabin | 3 bd · 2 ba · sleeps 6 | $45,106 | $209 | 59% | 4.8★ (198) | 0.5 mi | AirbnbVrboBooking |
Dog-Friendly Ellijay Cabin: Hot Tub & Fiber WiFi House | 3 bd · 2 ba · sleeps 6 | $27,955 | $259 | 30% | 5★ (22) | 0.5 mi | AirbnbVrboBooking |
Peaceful Ellijay Cabin: Pool Access & Resort Perks Cabin | 3 bd · 3.5 ba · sleeps 8 | $20,414 | $243 | 23% | 5★ (38) | 0.5 mi | AirbnbVrboBooking |
Secluded Coosawattee Cabin: Ideal Ellijay Retreat for Rest & Relaxation Cabin | 3 bd · 3 ba · sleeps 9 | $3,769 | $471 | 2% | 5★ | 0.5 mi | Vrbo |
3 Bedroom Lodge Villa | 3 bd · 2 ba · sleeps 6 | $800 | $266 | 1% | — | 0.5 mi | Airbnb |
Beautiful River House On The River! House | 3 bd · 2 ba · sleeps 8 | $17,530 | $239 | 20% | 4.8★ (16) | 0.5 mi | Airbnb |
Dragonfly Den - Luxury Waterfront/Hot Tub/Games Cabin | 3 bd · 2 ba · sleeps 9 | $94,710 | $386 | 67% | 5★ (254) | 0.5 mi | AirbnbVrbo |
Upscale spacious cabin with decks on 3 levels Cabin | 3 bd · 3.5 ba · sleeps 10 | $40,723 | $236 | 47% | 5★ (112) | 0.5 mi | Airbnb |
Riverfront Cabin w/ Hot-tub, peaceful escape Cabin | 3 bd · 2.5 ba · sleeps 7 | $28,871 | $250 | 32% | 5★ (16) | 0.5 mi | Airbnb |
Riveredge Escape Cabin-Tubing, PlaySet, Resort Vacation home | 3 bd · 2 ba · sleeps 6 | $11,055 | $544 | 6% | — | 0.5 mi | Booking |
Riverfront Cabin|Playset|HotTub|Apple Picking Cabin | 3 bd · 2 ba · sleeps 6 | $118,180 | $452 | 72% | 5★ (60) | 0.5 mi | AirbnbVrbo |
Welcome to Bear Necessities! Cabin | 3 bd · 2 ba · sleeps 6 | $7,482 | $252 | 8% | 5★ (7) | 0.6 mi | AirbnbVrbo |
Cozy cabin in Ellijay, near Blue Ridge ! House | 3 bd · 3 ba · sleeps 9 | $62,426 | $311 | 55% | 5★ (45) | 0.6 mi | AirbnbVrboBooking |
Riverbend House Cabin | 3 bd · 3 ba · sleeps 10 | $36,139 | $344 | 29% | 4.9★ (131) | 0.6 mi | AirbnbVrbo |
Three Trees Retreat | Hot Tub+Deck+Fire pit+PetsOK House | 3 bd · 2 ba · sleeps 6 | $28,726 | $218 | 36% | 4.8★ (27) | 0.6 mi | AirbnbVrboBooking |
R & R River | No Pet Fees | Sleeps 6 | Coosawattee | pool table | sauna Cabin | 3 bd · 3 ba · sleeps 6 | $54,432 | $315 | 47% | 4.8★ (107) | 0.6 mi | Vrbo |
Modern Luxury Cabin close to Downtown Ellijay! Cabin | 3 bd · 3 ba · sleeps 12 | $35,850 | $284 | 35% | 4.9★ (168) | 0.6 mi | AirbnbVrbo |
LUX Cabin | Hot Tub, Pools & Resort Amenities Cabin | 3 bd · 2 ba · sleeps 6 | $22,012 | $254 | 24% | 4.8★ (101) | 0.6 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
$44,291
NOI
$14,599
Cash flow /mo
-$2,824
Cash needed
$242,971
Cash-on-cash
-13.9%
ROE (yr 1)
-2.7%
Cap rate
1.9%
DSCR
0.30
Year-1 write-off
$165,019
Year-1 tax shield @ 32%
$52,806
Year-1 return on equity
- Cash flow (annual)-$33,893
- Principal paydown$4,907
- Appreciation at%$22,497
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$8,858
- Platform fees (3% of revenue)$1,329
- Maintenance / capex (5% of revenue)$2,215
- Utilities & supplies$4,200
- HOA$1,188
- Property tax$3,804
- Insurance (STR-rated)$8,099
Cash needed to close
- Down payment (25%)$187,475
- Closing costs (4.0%)$29,996
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$52,806
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
$628,000
Short-life (5/15-yr)
$138,000 · 22%
Year-1 deduction
$165,000
Year-1 tax shield @ 32%
$53,000
Land 16% (county tax record, market value split) · building $490,000 over 39 years · new furniture $26,000
Based on: 2,598 sq ft, built 2000, 3 bd / 2.5 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $107,000 in year 1 (13% short-life, $34,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $10,500
Kitchen cabinetsdefault
$11,500 new × 40% good × 2.29 allocation
- $8,600
Kitchen countertopsdefault
$9,400 new × 40% good × 2.29 allocation
- $4,200
Decorative trimdefault
$4,500 new × 40% good × 2.29 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.29 allocation
- $1,100
Shelvingdefault
$1,200 new × 40% good × 2.29 allocation
- $6,000
Window coverings (26)default
$6,500 new × 40% good × 2.29 allocation
- $9,800
Kitchen & laundry equipment plumbingdefault
$8,900 new × 48% good × 2.29 allocation
- $5,900
Kitchen, laundry & data equipment electricaldefault
$5,400 new × 48% good × 2.29 allocation
- $7,000
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 2.29 allocation
- $8,200
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.29 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $12,100
Paving: driveway & walks (paved)default
$10,600 new × 50% good × 2.29 allocation
- $11,600
Landscaping (typical)default
$10,200 new × 50% good × 2.29 allocation
- $13,400
Patioslisting
$11,700 new × 50% good × 2.29 allocation
- $33,400
Decks & porches (attached)listing
$29,200 new × 50% good × 2.29 allocation
- $5,700
Gazebo / pergolalisting
$5,000 new × 50% good × 2.29 allocation
- $366,200
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$282,400 new × 57% good × 2.29 allocation
- $32,200
Building plumbing & fixturesdefault
$29,300 new × 48% good × 2.29 allocation
- $33,200
Building electrical & lightingdefault
$30,200 new × 48% good × 2.29 allocation
- $26,800
HVACdefault
$29,300 new × 40% good × 2.29 allocation
- $15,300
Hardwood & tile floorsdefault
$16,700 new × 40% good × 2.29 allocation
- $2,400
Fireplacelisting
$2,600 new × 40% good × 2.29 allocation
- $13,700
Septic systemlisting
$12,000 new × 50% good × 2.29 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $87,200 | $76,300 | $1,600 | $165,000 |
| 2 | $0 | $0 | $12,600 | $12,600 |
| 3 | $0 | $0 | $12,600 | $12,600 |
| 4 | $0 | $0 | $12,600 | $12,600 |
| 5 | $0 | $0 | $12,600 | $12,600 |
| 6+ | $0 | $0 | $438,000 | $438,000 |
| Total | $87,200 | $76,300 | $489,800 | $653,300 |
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.