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Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

1134 Maggie Chapman Rd

1134 Maggie Chapman Rd

Blue Ridge, GA 30513

$849,900

5 bd · 3 ba · 2,799 sqft · Listed 30d ago

View on Realtor.com →
Negative cash flow

Year built

2005

Sqft

2,799

Lot sqft

43,560

HOA / mo

None

Furnished

Yes

List date

2026-08-28T18:05:03.000000Z

Revenue

Annual revenue

$47,730

ADR

$316

Occupancy

41%

Cleaning fees (12 mo)

$9,655

Confidence

Low (50), 10 comps

Comp revenue range (p25 / median / p75)

$23,216$30,532$45,350

  • Best of Blue Ridge | Hot Tub | Games | Pickleball

    House · 5 bd · 3 ba · sleeps 14 · 233 ft

    Revenue $28,099ADR $654Occ ≈ 12%5★ (3)

    AirbnbVrboBooking

  • Mountain Views | Sauna | Hot Tub | Movie Theater

    Cabin · 4 bd · 2 ba · sleeps 10 · 0.4 mi

    Revenue $8,429ADR $431Occ ≈ 5%5★ (3)

    AirbnbVrboBooking

  • A Walk in the Clouds

    Cabin · 4 bd · 3 ba · sleeps 6 · 0.5 mi

    Revenue $26,460ADR $244Occ ≈ 30%5★ (114)

    Airbnb

  • A Walk in the Clouds!

    Cabin · 5 bd · 3 ba · sleeps 6 · 0.5 mi

    Revenue $48,506ADR $291Occ ≈ 46%5★ (42)

    AirbnbVrbo

  • Sunrise Summit- Pets OK! Views, Screened Porch

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.6 mi

    Revenue $32,965ADR $387Occ ≈ 23%5★ (13)

    AirbnbVrboBooking

  • *Specials/4 King beds/Hot Tub/Fire-pit/Dog OK

    Cabin · 5 bd · 3 ba · sleeps 14 · 0.6 mi

    Revenue $41,227ADR $281Occ ≈ 40%4.8★ (78)

    Airbnb

  • Spacious Log Cabin w/ Stunning Views in Blue Ridge

    Cabin · 5 bd · 3 ba · sleeps 13 · 0.6 mi

    Revenue $18,214ADR $379Occ ≈ 13%5★ (3)

    AirbnbVrboBooking

  • Knotty by Nature

    Cabin · 4 bd · 4 ba · sleeps 9 · 0.7 mi

    Revenue $22,135ADR $276Occ ≈ 22%5★ (17)

    AirbnbVrbo

  • Knotty by Nature | Cherry Log, GA

    Cabin · 4 bd · 4 ba · sleeps 9 · 0.7 mi

    Revenue $65,950ADR $410Occ ≈ 44%4.4★ (8)

    AirbnbVrbo

  • Experience Lookout Lodge in Blue Ridge, GA

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.7 mi

    Revenue $46,724ADR $283Occ ≈ 45%5★ (17)

    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
Term

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$47,730

NOI

$17,489

Cash flow /mo

-$3,122

Cash needed

$246,471

Cash-on-cash

-15.2%

ROE (yr 1)

-2.6%

Cap rate

2.1%

DSCR

0.32

Year-1 write-off

$162,243

Year-1 tax shield @ 32%

$51,918

Year-1 return on equity

  • Cash flow (annual)-$37,469
  • Principal paydown$5,562
  • Appreciation at%$25,497
ROE-2.6%
ROE incl. year-1 tax savings (32% bracket, STR loophole)18.5%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$9,546
  • Platform fees (3% of revenue)$1,432
  • Maintenance / capex (5% of revenue)$2,387
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$3,498
  • Insurance (STR-rated)$9,179

Cash needed to close

  • Down payment (25%)$212,475
  • Closing costs (4.0%)$33,996
  • Furnishing (conveyed with the sale)$0

Tax savings if the STR loophole applies

  • Tax shield @ 32%$51,918

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

$774,000

Short-life (5/15-yr)

$159,000 · 21%

Year-1 deduction

$162,000

Year-1 tax shield @ 32%

$52,000

Land 9% (county tax record, market value split) · building $616,000 over 39 years

Based on: 2,799 sq ft, built 2005, 5 bd / 3 ba, furnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $97,000 in year 1 (12% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$92,400

  • Kitchen cabinetsdefault

    $11,900 new × 40% good × 2.39 allocation

    $11,400

  • Kitchen countertopsdefault

    $9,800 new × 40% good × 2.39 allocation

    $9,300

  • Decorative trimdefault

    $4,900 new × 40% good × 2.39 allocation

    $4,700

  • Mirrorsdefault

    $500 new × 40% good × 2.39 allocation

    $400

  • Shelvingdefault

    $1,800 new × 40% good × 2.39 allocation

    $1,700

  • Window coverings (28)default

    $7,000 new × 40% good × 2.39 allocation

    $6,700

  • Carpet, vinyl & laminate (50% of floors)listing

    $9,000 new × 40% good × 2.39 allocation

    $8,600

  • Kitchen & laundry equipment plumbingdefault

    $9,300 new × 58% good × 2.39 allocation

    $12,900

  • Kitchen, laundry & data equipment electricaldefault

    $5,600 new × 58% good × 2.39 allocation

    $7,800

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

    $7,700 new × 40% good × 2.39 allocation

    $7,400

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.39 allocation

    $8,600

  • Furniture conveyed with the sale (used)listing

    $26,500 new × 40% good · out of the price

    $10,600

  • Game-room equipment (used)listing

    $6,000 new × 40% good · out of the price

    $2,400
15-year land improvements$66,600

  • Paving: driveway & walks (paved)default

    $11,000 new × 50% good × 2.39 allocation

    $13,100

  • Landscaping (typical)default

    $10,600 new × 50% good × 2.39 allocation

    $12,600

  • Patiosdefault

    $2,800 new × 50% good × 2.39 allocation

    $3,300

  • Decks & porches (attached)listing

    $31,500 new × 50% good × 2.39 allocation

    $37,600
Building, 39-year$615,500

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

    $303,600 new × 65% good × 2.39 allocation

    $471,000

  • Building plumbing & fixturesdefault

    $31,600 new × 58% good × 2.39 allocation

    $43,700

  • Building electrical & lightingdefault

    $32,800 new × 58% good × 2.39 allocation

    $45,300

  • HVACdefault

    $31,500 new × 40% good × 2.39 allocation

    $30,100

  • Hardwood & tile floorsdefault

    $9,000 new × 40% good × 2.39 allocation

    $8,600

  • Fireplacelisting

    $2,600 new × 40% good × 2.39 allocation

    $2,500

  • Septic systemlisting

    $12,000 new × 50% good × 2.39 allocation

    $14,300

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$92,400$66,600$3,300$162,200
2$0$0$15,800$15,800
3$0$0$15,800$15,800
4$0$0$15,800$15,800
5$0$0$15,800$15,800
6+$0$0$549,100$549,100
Total$92,400$66,600$615,500$774,500

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.