40 Graham Ct
Ellijay, GA 30540
$849,900
4 bd · 3.5 ba · 3,524 sqft · Listed 49d ago
View on Realtor.com →Year built
2004
Sqft
3,524
Lot sqft
105,851
HOA / mo
$132
Furnished
No
List date
2026-09-24T14:37:53.000000Z
Revenue
Annual revenue
$49,602
ADR
$324
Occupancy
42%
Cleaning fees (12 mo)
$9,230
Confidence
Med (52.09), 17 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $47,603
Sleepy Bear Haven
Cabin · 4 bd · 3 ba · sleeps 12 · 299 ft
- Hot tub
- Pool
- A/C
- Free parking
- +6
Revenue $30,815ADR $239Occ ≈ 35%5★ (176)
Relaxing 4 bedroom cabin on river
Cabin · 4 bd · 3.5 ba · sleeps 12 · 0.4 mi
Revenue $59,487ADR $325Occ ≈ 50%5★ (67)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Sleepy Bear Haven Cabin
| 4 bd · 3 ba · sleeps 12 | $30,815 | $239 | 35% | 5★ (176) | 299 ft | Airbnb |
3 King Beds | Hot Tub | Game Room | Creekside Cabin | 4 bd · 3 ba · sleeps 10 | $37,997 | $567 | 18% | 5★ (39) | 0.3 mi | AirbnbVrbo |
River of Dreams - Ellijay Cabin
| 4 bd · 3.5 ba · sleeps 10 | $47,603 | $410 | 32% | 4.9★ (31) | 0.3 mi | AirbnbVrboBooking |
Creekside Daze | Creekfront Hot Tub Sleeps 11 Cabin
| 4 bd · 4 ba · sleeps 11 | $56,205 | $546 | 28% | 5★ (6) | 0.4 mi | AirbnbVrbo |
Relaxing 4 bedroom cabin on river Cabin | 4 bd · 3.5 ba · sleeps 12 | $59,487 | $325 | 50% | 5★ (67) | 0.4 mi | Airbnb |
Peaceful River Hideaway - Coosawattee River access Cabin
| 4 bd · 3.5 ba · sleeps 10 | $62,686 | $427 | 40% | 4.8★ (16) | 0.5 mi | AirbnbVrboBooking |
Windy Creek Cabin | Hot Tub & Game Room Cabin
| 4 bd · 3 ba · sleeps 10 | $14,856 | $299 | 14% | 5★ (2) | 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 7.93% = 7.18% Freddie Mac 30-yr avg (Nov 5) + 0.75% investor premium
Est. revenue
$49,602
NOI
$15,706
Cash flow /mo
-$3,337
Cash needed
$275,471
Cash-on-cash
-14.5%
ROE (yr 1)
-3.3%
Cap rate
1.8%
DSCR
0.28
Year-1 write-off
$158,683
Year-1 tax shield @ 32%
$50,778
Year-1 return on equity
- Cash flow (annual)-$40,048
- Principal paydown$5,399
- Appreciation at%$25,497
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$9,920
- Platform fees (3% of revenue)$1,488
- Maintenance / capex (5% of revenue)$2,480
- Utilities & supplies$4,200
- HOA$1,584
- Property tax$5,045
- Insurance (STR-rated)$9,179
Cash needed to close
- Down payment (25%)$212,475
- Closing costs (4.0%)$33,996
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$50,778
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
$711,000
Short-life (5/15-yr)
$128,000 · 18%
Year-1 deduction
$159,000
Year-1 tax shield @ 32%
$51,000
Land 16% (county tax record, market value split) · building $583,000 over 39 years · new furniture $29,000
Based on: 3,524 sq ft, built 2004, 4 bd / 3.5 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, flooring types, appliance list, septic, wooded lot).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $98,000 in year 1 (9% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $9,900
Kitchen cabinetsdefault
$13,500 new × 40% good × 1.84 allocation
- $8,100
Kitchen countertopsdefault
$11,100 new × 40% good × 1.84 allocation
- $4,500
Decorative trimdefault
$6,200 new × 40% good × 1.84 allocation
- $300
Mirrorsdefault
$500 new × 40% good × 1.84 allocation
- $1,100
Shelvingdefault
$1,500 new × 40% good × 1.84 allocation
- $6,400
Window coverings (35)default
$8,800 new × 40% good × 1.84 allocation
- $5,600
Carpet, vinyl & laminate (33% of floors)listing
$7,600 new × 40% good × 1.84 allocation
- $10,800
Kitchen & laundry equipment plumbingdefault
$10,500 new × 56% good × 1.84 allocation
- $6,500
Kitchen, laundry & data equipment electricaldefault
$6,400 new × 56% good × 1.84 allocation
- $6,600
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.84 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $11,300
Paving: driveway & walks (paved)default
$12,300 new × 50% good × 1.84 allocation
- $5,400
Landscaping (minimal)listing
$5,900 new × 50% good × 1.84 allocation
- $14,600
Patioslisting
$15,900 new × 50% good × 1.84 allocation
- $36,400
Decks & porches (attached)listing
$39,600 new × 50% good × 1.84 allocation
- $446,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$383,100 new × 63% good × 1.84 allocation
- $40,900
Building plumbing & fixturesdefault
$39,800 new × 56% good × 1.84 allocation
- $43,200
Building electrical & lightingdefault
$41,900 new × 56% good × 1.84 allocation
- $29,200
HVACdefault
$39,700 new × 40% good × 1.84 allocation
- $11,100
Hardwood & tile floorsdefault
$15,100 new × 40% good × 1.84 allocation
- $1,900
Fireplacelisting
$2,600 new × 40% good × 1.84 allocation
- $11,000
Septic systemlisting
$12,000 new × 50% good × 1.84 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $89,000 | $67,800 | $1,900 | $158,700 |
| 2 | $0 | $0 | $15,000 | $15,000 |
| 3 | $0 | $0 | $15,000 | $15,000 |
| 4 | $0 | $0 | $15,000 | $15,000 |
| 5 | $0 | $0 | $15,000 | $15,000 |
| 6+ | $0 | $0 | $521,700 | $521,700 |
| Total | $89,000 | $67,800 | $583,400 | $740,200 |
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: California, Georgia and Wisconsin disallow 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.