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Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

36 Deep Cove Rd

36 Deep Cove Rd

Blue Ridge, GA 30513

$509,950

3 bd · 2 ba · 1,440 sqft · Listed today

View on Realtor.com →
Low confidenceNegative cash flow

Year built

1997

Sqft

1,440

Lot sqft

33,977

HOA / mo

None

Furnished

Yes

List date

2026-10-08T03:04:28.000000Z

Revenue

Annual revenue

$39,654

ADR

$265

Occupancy

41%

Cleaning fees (12 mo)

$8,697

Confidence

Low (39.84), 9 comps

Comp revenue range (p25 / median / p75)

$13,956$33,168$36,751

Median revenue of shown comps: $33,168

  • Fire Pit w/ Mtn Views! Blue Ridge Cabin Retreat

    Cabin · 3 bd · 2 ba · sleeps 6 · 85 ft

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +3

    Revenue $13,956ADR $153Occ ≈ 25%5★ (8)

    AirbnbVrboBooking

  • Blue Sky Dreams - Stunning view and outdoor space!

    Cabin · 3 bd · 2 ba · sleeps 8 · 0.1 mi

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

    Revenue $61,164ADR $284Occ ≈ 59%5★ (82)

    AirbnbVrboBooking

  • Secluded Escape + VIEWS + Hot Tub | 3BR Log Cabin

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.1 mi

    Revenue $21,989ADR $359Occ ≈ 17%5★ (81)

    AirbnbVrbo

  • Lookout Point Cabin-Long Range Mt View-PAVED ROADS

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $47,955ADR $295Occ ≈ 45%4.9★ (169)

    AirbnbVrboBooking

  • ThunderMountainRetreat Breathtaking Long Mntn View

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.2 mi

    Revenue $33,168ADR $278Occ ≈ 33%4.9★ (180)

    AirbnbVrbo

  • Hazy Horizons | 4 state long-range views

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 0.2 mi

    Revenue $36,751ADR $339Occ ≈ 30%5★ (56)

    AirbnbVrbo

  • Hazy Horizons - Mtn Views, Hot Tub -Minimum Age

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 0.3 mi

    Revenue $13,737ADR $283Occ ≈ 13%4.6★ (5)

    Airbnb

  • Lazy K-Best Location! Modern & Cozy, View, Hot Tub

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.3 mi

    Revenue $33,344ADR $285Occ ≈ 32%5★ (23)

    AirbnbVrbo

  • Modern Retreat-Close 2 Town-Jacuzzi-Gym-Speakeasy

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

    Revenue $5,310ADR $299Occ ≈ 5%5★ (6)

    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

Financing
Management
Term

Rate 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium

Est. revenue

$39,654

NOI

$17,898

Cash flow /mo

-$1,323

Cash needed

$147,886

Cash-on-cash

-10.7%

ROE (yr 1)

1.8%

Cap rate

3.5%

DSCR

0.53

Year-1 write-off

$112,246

Year-1 tax shield @ 32%

$35,919

Year-1 return on equity

  • Cash flow (annual)-$15,875
  • Principal paydown$3,176
  • Appreciation at%$15,299
ROE1.8%

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)$7,931
  • Platform fees (3% of revenue)$1,190
  • Maintenance / capex (5% of revenue)$1,983
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,022
  • Insurance (STR-rated)$5,431

Cash needed to close

  • Down payment (25%)$127,488
  • Closing costs (4.0%)$20,398
  • Furnishing (conveyed with the sale)$0

Tax savings if the STR loophole applies

  • Tax shield @ 32%$35,919

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

$440,000

Short-life (5/15-yr)

$112,000 · 25%

Year-1 deduction

$112,000

Year-1 tax shield @ 32%

$36,000

Land 14% (county tax record, market value split) · building $329,000 over 39 years

Based on: 1,440 sq ft, built 1997, 3 bd / 2 ba, furnished, listing features (deck, fireplace, flooring types, appliance list, septic, wooded lot).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $63,000 in year 1 (14% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$67,600

  • Kitchen cabinetsdefault

    $9,000 new × 40% good × 3.03 allocation

    $10,800

  • Kitchen countertopsdefault

    $7,300 new × 40% good × 3.03 allocation

    $8,900

  • Decorative trimdefault

    $2,500 new × 40% good × 3.03 allocation

    $3,000

  • Mirrorsdefault

    $300 new × 40% good × 3.03 allocation

    $400

  • Shelvingdefault

    $1,200 new × 40% good × 3.03 allocation

    $1,500

  • Window coverings (14)default

    $3,500 new × 40% good × 3.03 allocation

    $4,200

  • Carpet, vinyl & laminate (67% of floors)listing

    $6,200 new × 40% good × 3.03 allocation

    $7,500

  • Kitchen & laundry equipment plumbingdefault

    $7,000 new × 42% good × 3.03 allocation

    $8,900

  • Kitchen, laundry & data equipment electricaldefault

    $4,200 new × 42% good × 3.03 allocation

    $5,400

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

    $7,700 new × 40% good × 3.03 allocation

    $9,300

  • Furniture conveyed with the sale (used)listing

    $19,500 new × 40% good · out of the price

    $7,800
15-year land improvements$44,300

  • Paving: driveway & walks (paved)default

    $7,900 new × 50% good × 3.03 allocation

    $11,900

  • Landscaping (minimal)listing

    $3,800 new × 50% good × 3.03 allocation

    $5,700

  • Patiosdefault

    $1,400 new × 50% good × 3.03 allocation

    $2,200

  • Decks & porches (attached)listing

    $16,200 new × 50% good × 3.03 allocation

    $24,500
Building, 39-year$328,600

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

    $155,800 new × 52% good × 3.03 allocation

    $243,600

  • Building plumbing & fixturesdefault

    $16,200 new × 42% good × 3.03 allocation

    $20,500

  • Building electrical & lightingdefault

    $15,500 new × 42% good × 3.03 allocation

    $19,700

  • HVACdefault

    $16,200 new × 40% good × 3.03 allocation

    $19,600

  • Hardwood & tile floorsdefault

    $3,100 new × 40% good × 3.03 allocation

    $3,700

  • Fireplacelisting

    $2,600 new × 40% good × 3.03 allocation

    $3,200

  • Septic systemlisting

    $12,000 new × 50% good × 3.03 allocation

    $18,200

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$67,600$44,300$400$112,200
2$0$0$8,400$8,400
3$0$0$8,400$8,400
4$0$0$8,400$8,400
5$0$0$8,400$8,400
6+$0$0$294,500$294,500
Total$67,600$44,300$328,600$440,500

The building's share of the price ($433,000) is 3.0x our depreciated replacement cost of the home ($143,000). 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.