37 Abernathy Ln
Ellijay, GA 30540
$599,000
2 bd · 2.5 ba · 1,718 sqft · Listed 16d ago
View on Realtor.com →Year built
2024
Sqft
1,718
Lot sqft
128,066
HOA / mo
$0
Furnished
No
List date
2026-09-11T20:03:35.000000Z
Revenue
Annual revenue
$25,974
ADR
$138
Occupancy
52%
Cleaning fees (12 mo)
$2,676
Confidence
Med (57.29), 5 comps
Comp revenue range (p25 / median / p75)
Creekside Cabin w/ Fire Pit, Game Room & Hottub
Cabin · 3 bd · 3 ba · sleeps 7 · 0.7 mi
Revenue $14,757ADR $276Occ ≈ 15%4.9★ (80)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Thistle Patch @ Blue Cactus Cottages Cabin | 3 bd · 2 ba · sleeps 6 | $33,378 | $115 | 80% | 4.8★ (14) | 0.4 mi | AirbnbVrbo |
Sunny Side Up Cottage 2 @ Blue Cactus Cottages Cottage | 2 bd · 2 ba · sleeps 4 | $13,165 | $158 | 23% | 4.8★ (55) | 0.4 mi | AirbnbVrbo |
Hemingway-Blue Cactus Cottages Cottage | 3 bd · 3 ba · sleeps 6 | $36,912 | $164 | 62% | 5★ (10) | 0.4 mi | AirbnbVrboBooking |
Creekside, Hottub, Pet Friendlly & Firepit. Cabin | 3 bd · 3 ba · sleeps 7 | $29,688 | $229 | 36% | 4.5★ (16) | 0.7 mi | AirbnbBooking |
Creekside Cabin w/ Fire Pit, Game Room & Hottub Cabin | 3 bd · 3 ba · sleeps 7 | $14,757 | $276 | 15% | 4.9★ (80) | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$25,974
NOI
$5,643
Cash flow /mo
-$2,758
Cash needed
$189,710
Cash-on-cash
-17.4%
ROE (yr 1)
-5.9%
Cap rate
0.9%
DSCR
0.15
Year-1 write-off
$158,458
Year-1 tax shield @ 32%
$50,707
Year-1 return on equity
- Cash flow (annual)-$33,091
- Principal paydown$3,920
- Appreciation at%$17,970
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$5,195
- Platform fees (3% of revenue)$779
- Maintenance / capex (5% of revenue)$1,299
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,389
- Insurance (STR-rated)$6,469
Cash needed to close
- Down payment (25%)$149,750
- Closing costs (4.0%)$23,960
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$50,707
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
$531,000
Short-life (5/15-yr)
$141,000 · 27%
Year-1 deduction
$158,000
Year-1 tax shield @ 32%
$51,000
Land 11% (county tax record, market value split) · building $389,000 over 39 years · new furniture $16,000
Based on: 1,718 sq ft, built 2024, 2 bd / 2.5 ba, unfurnished, listing features (deck, fence, fireplace, stone counters, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $97,000 in year 1 (15% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $13,800
Kitchen cabinetsdefault
$9,600 new × 92% good × 1.57 allocation
- $14,100
Kitchen countertops (stone)listing
$9,800 new × 92% good × 1.57 allocation
- $4,300
Decorative trimdefault
$3,000 new × 92% good × 1.57 allocation
- $400
Mirrorsdefault
$300 new × 83% good × 1.57 allocation
- $1,300
Shelvingdefault
$900 new × 92% good × 1.57 allocation
- $5,300
Window coverings (17)default
$4,300 new × 80% good × 1.57 allocation
- $14,500
Carpet, vinyl & laminate (100% of floors)listing
$11,100 new × 83% good × 1.57 allocation
- $11,200
Kitchen & laundry equipment plumbingdefault
$7,400 new × 96% good × 1.57 allocation
- $6,800
Kitchen, laundry & data equipment electricaldefault
$4,500 new × 96% good × 1.57 allocation
- $6,800
Appliances (dishwasher, refrigerator, washer, dryer)listing
$5,200 new × 83% good × 1.57 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $12,400
Paving: driveway & walks (paved)default
$8,600 new × 92% good × 1.57 allocation
- $11,900
Landscaping (typical)default
$8,300 new × 92% good × 1.57 allocation
- $2,500
Patiosdefault
$1,700 new × 92% good × 1.57 allocation
- $27,300
Decks & porches (attached)listing
$19,300 new × 90% good × 1.57 allocation
- $8,500
Fencinglisting
$6,000 new × 90% good × 1.57 allocation
- $283,100
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$186,500 new × 97% good × 1.57 allocation
- $29,100
Building plumbing & fixturesdefault
$19,300 new × 96% good × 1.57 allocation
- $28,700
Building electrical & lightingdefault
$19,000 new × 96% good × 1.57 allocation
- $27,400
HVACdefault
$19,400 new × 90% good × 1.57 allocation
- $3,800
Fireplacelisting
$2,600 new × 92% good × 1.57 allocation
- $17,300
Septic systemlisting
$12,000 new × 92% good × 1.57 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $94,600 | $62,600 | $1,300 | $158,500 |
| 2 | $0 | $0 | $10,000 | $10,000 |
| 3 | $0 | $0 | $10,000 | $10,000 |
| 4 | $0 | $0 | $10,000 | $10,000 |
| 5 | $0 | $0 | $10,000 | $10,000 |
| 6+ | $0 | $0 | $348,300 | $348,300 |
| Total | $94,600 | $62,600 | $389,500 | $546,700 |
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.