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Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

296 Night Ln

296 Night Ln

Epworth, GA 30541

$849,000

3 bd · 2 ba · 1,564 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceNegative cash flow

Year built

2004

Sqft

1,564

Lot sqft

214,751

HOA / mo

None

Furnished

No

List date

2026-10-30T19:19:44.000000Z

Revenue

Annual revenue

$28,998

ADR

$216

Occupancy

37%

Cleaning fees (12 mo)

$7,185

Confidence

Low (47.33), 5 comps

Comp revenue range (p25 / median / p75)

$20,682$21,065$26,799

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $21,065

  • Secluded Cabin: Hot Tub & 10 Mi to Blue Ridge

    Cabin · 3 bd · 2 ba · sleeps 13 · 0.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $45,717ADR $259Occ ≈ 48%4.8★ (70)

    AirbnbVrboBooking

  • Cohutta Hideaway

    House · 3 bd · 2.5 ba · sleeps 7 · 0.6 mi

    • A/C
    • Free parking
    • Wifi
    • Kitchen
    • +2

    Revenue $20,682ADR $223Occ ≈ 25%5★ (14)

    AirbnbVrbo

  • 3BR Retreat • Pets Welcome, Firepit, Scenic Escape

    Cabin · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +4

    Revenue $26,799ADR $206Occ ≈ 36%5★ (10)

    AirbnbVrbo

  • S'more Waggin' Cabin: Pet-Friendly--wifi, firepit, pool table

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    Revenue $21,065ADR $219Occ ≈ 26%4.8★ (3)

    Booking

  • Cozy Blue Ridge Mountain Cabin

    Cabin · 3 bd · 2 ba · sleeps 8 · 0.7 mi

    Revenue $10,149ADR $222Occ ≈ 13%4.7★ (7)

    Delisted

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
Management
Term

Rate 7.99% = 7.24% Freddie Mac 30-yr avg (Oct 29) + 0.75% investor premium

Est. revenue

$28,998

NOI

$7,216

Cash flow /mo

-$4,066

Cash needed

$265,710

Cash-on-cash

-18.4%

ROE (yr 1)

-6.8%

Cap rate

0.8%

DSCR

0.13

Year-1 write-off

$138,095

Year-1 tax shield @ 32%

$44,190

Year-1 return on equity

  • Cash flow (annual)-$48,798
  • Principal paydown$5,330
  • Appreciation at%$25,470
ROE-6.8%

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)$5,800
  • Platform fees (3% of revenue)$870
  • Maintenance / capex (5% of revenue)$1,450
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$421
  • Insurance (STR-rated)$9,042

Cash needed to close

  • Down payment (25%)$212,250
  • Closing costs (4.0%)$33,960
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$44,190

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

$597,000

Short-life (5/15-yr)

$118,000 · 20%

Year-1 deduction

$138,000

Year-1 tax shield @ 32%

$44,000

Land 30% (county tax record, market value split) · building $479,000 over 39 years · new furniture $20,000

Based on: 1,564 sq ft, built 2004, 3 bd / 2 ba, unfurnished, listing features (hot tub, fence, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $108,000 in year 1 (15% short-life, $34,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$96,000

  • Kitchen cabinetsdefault

    $9,200 new × 40% good × 3.31 allocation

    $12,200

  • Kitchen countertopsdefault

    $7,600 new × 40% good × 3.31 allocation

    $10,000

  • Decorative trimdefault

    $2,700 new × 40% good × 3.31 allocation

    $3,600

  • Mirrorsdefault

    $300 new × 40% good × 3.31 allocation

    $400

  • Shelvingdefault

    $1,200 new × 40% good × 3.31 allocation

    $1,600

  • Window coverings (16)default

    $4,000 new × 40% good × 3.31 allocation

    $5,300

  • Kitchen & laundry equipment plumbingdefault

    $7,200 new × 56% good × 3.31 allocation

    $13,300

  • Kitchen, laundry & data equipment electricaldefault

    $4,300 new × 56% good × 3.31 allocation

    $8,000

  • Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing

    $7,700 new × 40% good × 3.31 allocation

    $10,200

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 3.31 allocation

    $11,900

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500
15-year land improvements$41,600

  • Paving: driveway & walks (paved)default

    $8,200 new × 50% good × 3.31 allocation

    $13,500

  • Landscaping (typical)default

    $7,900 new × 50% good × 3.31 allocation

    $13,000

  • Patiosdefault

    $1,500 new × 50% good × 3.31 allocation

    $2,600

  • Decks & porches (attached)default

    $1,500 new × 50% good × 3.31 allocation

    $2,600

  • Fencinglisting

    $6,000 new × 50% good × 3.31 allocation

    $9,900
Building, 39-year$478,700

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

    $169,400 new × 63% good × 3.31 allocation

    $354,600

  • Building plumbing & fixturesdefault

    $17,600 new × 56% good × 3.31 allocation

    $32,500

  • Building electrical & lightingdefault

    $17,100 new × 56% good × 3.31 allocation

    $31,600

  • HVACdefault

    $17,600 new × 40% good × 3.31 allocation

    $23,300

  • Hardwood & tile floorsdefault

    $10,100 new × 40% good × 3.31 allocation

    $13,300

  • Fireplacelisting

    $2,600 new × 40% good × 3.31 allocation

    $3,500

  • Septic systemlisting

    $12,000 new × 50% good × 3.31 allocation

    $19,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$96,000$41,600$500$138,100
2$0$0$12,300$12,300
3$0$0$12,300$12,300
4$0$0$12,300$12,300
5$0$0$12,300$12,300
6+$0$0$429,100$429,100
Total$96,000$41,600$478,700$616,300

The building's share of the price ($597,000) is 3.3x our depreciated replacement cost of the home ($181,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.

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.