40 Graham Ct

Ellijay, GA 30540

$849,900

4 bd · 3.5 ba · 3,524 sqft · Listed 3d ago

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Rental history

Year built

2004

Sqft

3,524

Lot sqft

105,851

HOA / mo

$132

Furnished

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)

$30,815$56,205$64,147

Sleepy Bear Haven
Cabin · 4 bd · 3 ba · sleeps 12 · 299 ft
Revenue $30,815ADR $239Occ ≈ 35%5★ (176)
Airbnb
LARGE elegant DESIGNER mountain cabin home on RIVER COOSAWATTEE perfect4families
House · 4 bd · 3 ba · sleeps 16 · 384 ft
Revenue $16,979ADR $384Occ ≈ 12%4.8★ (82)
Vrbo
Stone’s Throw Retreat
Cabin · 4 bd · 2.5 ba · sleeps 7 · 502 ft
Revenue $24,570ADR $174Occ ≈ 39%4.8★ (65)
Airbnb Vrbo
River Haven | Ellijay, Georgia
Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.1 mi
Revenue $64,147ADR $599Occ ≈ 29%4.8★ (4)
Airbnb Vrbo
3 King Beds | Hot Tub | Game Room | Creekside
Cabin · 4 bd · 3 ba · sleeps 10 · 0.3 mi
Revenue $37,997ADR $567Occ ≈ 18%5★ (39)
Airbnb Vrbo
Charming Creekside Cabin Sleeps 14 Family-Friendly
Cabin · 4 bd · 3.5 ba · sleeps 14 · 0.3 mi
Revenue $79,417ADR $444Occ ≈ 49%4.8★ (24)
Airbnb Booking
River of Dreams - Ellijay
Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.3 mi
Revenue $47,603ADR $410Occ ≈ 32%4.9★ (31)
Airbnb Vrbo Booking
Waterfront Retreat | Fishing & Tubing | Near Town
Cabin · 4 bd · 3 ba · sleeps 8 · 0.3 mi
Revenue $71,581ADR $261Occ ≈ 75%4.8★ (123)
Airbnb
River Run Cabin
Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.4 mi
Revenue $22,673ADR $284Occ ≈ 22%4.7★ (105)
Airbnb
Creekside Daze | Creekfront Hot Tub Sleeps 11
Cabin · 4 bd · 4 ba · sleeps 11 · 0.4 mi
Revenue $56,205ADR $546Occ ≈ 28%5★ (6)
Airbnb Vrbo

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
LARGE elegant DESIGNER mountain cabin home on RIVER COOSAWATTEE perfect4families House	4 bd · 3 ba · sleeps 16	$16,979	$384	12%	4.8★ (82)	384 ft	Vrbo
Stone’s Throw Retreat Cabin	4 bd · 2.5 ba · sleeps 7	$24,570	$174	39%	4.8★ (65)	502 ft	Airbnb Vrbo
River Haven \| Ellijay, Georgia Cabin	4 bd · 3.5 ba · sleeps 8	$64,147	$599	29%	4.8★ (4)	0.1 mi	Airbnb Vrbo
3 King Beds \| Hot Tub \| Game Room \| Creekside Cabin	4 bd · 3 ba · sleeps 10	$37,997	$567	18%	5★ (39)	0.3 mi	Airbnb Vrbo
Charming Creekside Cabin Sleeps 14 Family-Friendly Cabin	4 bd · 3.5 ba · sleeps 14	$79,417	$444	49%	4.8★ (24)	0.3 mi	Airbnb Booking
River of Dreams - Ellijay Cabin	4 bd · 3.5 ba · sleeps 10	$47,603	$410	32%	4.9★ (31)	0.3 mi	Airbnb Vrbo Booking
Waterfront Retreat \| Fishing & Tubing \| Near Town Cabin	4 bd · 3 ba · sleeps 8	$71,581	$261	75%	4.8★ (123)	0.3 mi	Airbnb
River Run Cabin Cabin	4 bd · 3.5 ba · sleeps 8	$22,673	$284	22%	4.7★ (105)	0.4 mi	Airbnb
Creekside Daze \| Creekfront Hot Tub Sleeps 11 Cabin	4 bd · 4 ba · sleeps 11	$56,205	$546	28%	5★ (6)	0.4 mi	Airbnb Vrbo

Show all 17 comps

Relaxing 4 bedroom cabin on river
Cabin · 4 bd · 3.5 ba · sleeps 12 · 0.4 mi
Revenue $59,487ADR $325Occ ≈ 50%5★ (67)
Airbnb Vrbo
Nice & Knotty On The River | Ellijay, GA
Cabin · 4 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $76,972ADR $489Occ ≈ 43%4.7★ (16)
Airbnb Vrbo
Trout Paradise: Riverfront Lodge
Cabin · 4 bd · 3 ba · sleeps 14 · 0.5 mi
Revenue $44,582ADR $421Occ ≈ 29%4.9★ (198)
Airbnb Vrbo
Peaceful River Hideaway - Coosawattee River access
Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.5 mi
Revenue $62,686ADR $427Occ ≈ 40%4.8★ (16)
Airbnb Vrbo Booking
Thistle & Trout | Ellijay, GA
Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.6 mi
Revenue $62,495ADR $550Occ ≈ 31%4.8★ (31)
Airbnb Vrbo
*Waterfront* Arcade, Hot Tub, Wi-Fi, Pool Table
Cabin · 4 bd · 3 ba · sleeps 14 · 0.6 mi
Revenue $103,156ADR $442Occ ≈ 64%5★ (101)
Airbnb Vrbo
Windy Creek Cabin | Hot Tub & Game Room
Cabin · 4 bd · 3 ba · sleeps 10 · 0.6 mi
Revenue $14,856ADR $299Occ ≈ 14%5★ (2)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Relaxing 4 bedroom cabin on river Cabin	4 bd · 3.5 ba · sleeps 12	$59,487	$325	50%	5★ (67)	0.4 mi	Airbnb Vrbo
Nice & Knotty On The River \| Ellijay, GA Cabin	4 bd · 3 ba · sleeps 8	$76,972	$489	43%	4.7★ (16)	0.4 mi	Airbnb Vrbo
Trout Paradise: Riverfront Lodge Cabin	4 bd · 3 ba · sleeps 14	$44,582	$421	29%	4.9★ (198)	0.5 mi	Airbnb Vrbo
Peaceful River Hideaway - Coosawattee River access Cabin	4 bd · 3.5 ba · sleeps 10	$62,686	$427	40%	4.8★ (16)	0.5 mi	Airbnb Vrbo Booking
Thistle & Trout \| Ellijay, GA Cabin	4 bd · 3.5 ba · sleeps 8	$62,495	$550	31%	4.8★ (31)	0.6 mi	Airbnb Vrbo
Waterfront Arcade, Hot Tub, Wi-Fi, Pool Table Cabin	4 bd · 3 ba · sleeps 14	$103,156	$442	64%	5★ (101)	0.6 mi	Airbnb Vrbo
Windy Creek Cabin \| Hot Tub & Game Room Cabin	4 bd · 3 ba · sleeps 10	$14,856	$299	14%	5★ (2)	0.6 mi	Airbnb Vrbo

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

Purchase priceAlready furnishedTax bracket

Est. revenue

$49,602

NOI

$15,706

Cash flow /mo

$1,309

Cash needed

$912,896

Cash-on-cash (all cash)

1.7%

ROE (yr 1)

4.5%

Cap rate

1.8%

DSCR

—

Year-1 write-off

$158,683

Year-1 tax shield @ 32%

$50,778

Year-1 return on equity

Cash flow (annual)$15,706
Principal paydown (n/a, cash)$0
Appreciation at%$25,497

ROE4.5%

ROE incl. year-1 tax savings (32% bracket, STR loophole)10.1%

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

Purchase price (all cash)$849,900
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).

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.

5-year property$89,000

Kitchen cabinetsdefault
$13,500 new × 40% good × 1.84 allocation
$9,900
Kitchen countertopsdefault
$11,100 new × 40% good × 1.84 allocation
$8,100
Decorative trimdefault
$6,200 new × 40% good × 1.84 allocation
$4,500
Mirrorsdefault
$500 new × 40% good × 1.84 allocation
$300
Shelvingdefault
$1,500 new × 40% good × 1.84 allocation
$1,100
Window coverings (35)default
$8,800 new × 40% good × 1.84 allocation
$6,400
Carpet, vinyl & laminate (33% of floors)listing
$7,600 new × 40% good × 1.84 allocation
$5,600
Kitchen & laundry equipment plumbingdefault
$10,500 new × 56% good × 1.84 allocation
$10,800
Kitchen, laundry & data equipment electricaldefault
$6,400 new × 56% good × 1.84 allocation
$6,500
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.84 allocation
$6,600
Furniture bought newlisting
$23,000 new × 100% good · bought separately
$23,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
$6,000

15-year land improvements$67,800

Paving: driveway & walks (paved)default
$12,300 new × 50% good × 1.84 allocation
$11,300
Landscaping (minimal)listing
$5,900 new × 50% good × 1.84 allocation
$5,400
Patioslisting
$15,900 new × 50% good × 1.84 allocation
$14,600
Decks & porches (attached)listing
$39,600 new × 50% good × 1.84 allocation
$36,400

Building, 39-year$583,400

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$383,100 new × 63% good × 1.84 allocation
$446,000
Building plumbing & fixturesdefault
$39,800 new × 56% good × 1.84 allocation
$40,900
Building electrical & lightingdefault
$41,900 new × 56% good × 1.84 allocation
$43,200
HVACdefault
$39,700 new × 40% good × 1.84 allocation
$29,200
Hardwood & tile floorsdefault
$15,100 new × 40% good × 1.84 allocation
$11,100
Fireplacelisting
$2,600 new × 40% good × 1.84 allocation
$1,900
Septic systemlisting
$12,000 new × 50% good × 1.84 allocation
$11,000

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

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: 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.