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37 Abernathy Ln

37 Abernathy Ln

Ellijay, GA 30540

$599,000

2 bd · 2.5 ba · 1,718 sqft · Listed 16d ago

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Low confidence

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)

$14,757$29,688$33,378

  • Thistle Patch @ Blue Cactus Cottages

    Cabin · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    Revenue $33,378ADR $115Occ ≈ 80%4.8★ (14)

    AirbnbVrbo

  • Sunny Side Up Cottage 2 @ Blue Cactus Cottages

    Cottage · 2 bd · 2 ba · sleeps 4 · 0.4 mi

    Revenue $13,165ADR $158Occ ≈ 23%4.8★ (55)

    AirbnbVrbo

  • Hemingway-Blue Cactus Cottages

    Cottage · 3 bd · 3 ba · sleeps 6 · 0.4 mi

    Revenue $36,912ADR $164Occ ≈ 62%5★ (10)

    AirbnbVrboBooking

  • Creekside, Hottub, Pet Friendlly & Firepit.

    Cabin · 3 bd · 3 ba · sleeps 7 · 0.7 mi

    Revenue $29,688ADR $229Occ ≈ 36%4.5★ (16)

    AirbnbBooking

  • 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)

    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

Financing

Est. revenue

$25,974

NOI

$5,643

Cash flow /mo

$470

Cash needed

$638,960

Cash-on-cash (all cash)

0.9%

ROE (yr 1)

3.7%

Cap rate

0.9%

DSCR

—

Year-1 write-off

$158,458

Year-1 tax shield @ 32%

$50,707

Year-1 return on equity

  • Cash flow (annual)$5,643
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$17,970
ROE3.7%
ROE incl. year-1 tax savings (32% bracket, STR loophole)11.6%
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

  • Purchase price (all cash)$599,000
  • 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.

5-year property$94,600

  • Kitchen cabinetsdefault

    $9,600 new × 92% good × 1.57 allocation

    $13,800

  • Kitchen countertops (stone)listing

    $9,800 new × 92% good × 1.57 allocation

    $14,100

  • Decorative trimdefault

    $3,000 new × 92% good × 1.57 allocation

    $4,300

  • Mirrorsdefault

    $300 new × 83% good × 1.57 allocation

    $400

  • Shelvingdefault

    $900 new × 92% good × 1.57 allocation

    $1,300

  • Window coverings (17)default

    $4,300 new × 80% good × 1.57 allocation

    $5,300

  • Carpet, vinyl & laminate (100% of floors)listing

    $11,100 new × 83% good × 1.57 allocation

    $14,500

  • Kitchen & laundry equipment plumbingdefault

    $7,400 new × 96% good × 1.57 allocation

    $11,200

  • 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

    $6,800

  • Furniture bought newlisting

    $16,000 new × 100% good · bought separately

    $16,000
15-year land improvements$62,600

  • Paving: driveway & walks (paved)default

    $8,600 new × 92% good × 1.57 allocation

    $12,400

  • Landscaping (typical)default

    $8,300 new × 92% good × 1.57 allocation

    $11,900

  • Patiosdefault

    $1,700 new × 92% good × 1.57 allocation

    $2,500

  • Decks & porches (attached)listing

    $19,300 new × 90% good × 1.57 allocation

    $27,300

  • Fencinglisting

    $6,000 new × 90% good × 1.57 allocation

    $8,500
Building, 39-year$389,500

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

    $186,500 new × 97% good × 1.57 allocation

    $283,100

  • Building plumbing & fixturesdefault

    $19,300 new × 96% good × 1.57 allocation

    $29,100

  • Building electrical & lightingdefault

    $19,000 new × 96% good × 1.57 allocation

    $28,700

  • HVACdefault

    $19,400 new × 90% good × 1.57 allocation

    $27,400

  • Fireplacelisting

    $2,600 new × 92% good × 1.57 allocation

    $3,800

  • Septic systemlisting

    $12,000 new × 92% good × 1.57 allocation

    $17,300

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.