181 Asbury St
Epworth, GA 30541
$299,777
3 bd · 2 ba · 1,488 sqft · Listed 27d ago
View on Realtor.com →Year built
1963
Sqft
1,488
Lot sqft
21,780
HOA / mo
None
Furnished
No
List date
2026-08-31T12:54:01.000000Z
Revenue
Annual revenue
$39,819
ADR
$250
Occupancy
44%
Cleaning fees (12 mo)
$5,845
Confidence
Low (20.43), 6 comps
Comp revenue range (p25 / median / p75)
Morgan Trail - Stunning Mountain Masterpiece
Vacation home · 3 bd · 3 ba · sleeps 6 · 0.2 mi
Revenue $87,685ADR $342Occ ≈ 70%—
Altitude Adjustment
Vacation home · 3 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue $32,721ADR $424Occ ≈ 21%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Unique rustic farmhouse with games and charm Apartment | 3 bd · 2 ba · sleeps 8 | $7,109 | $197 | 10% | 5★ (3) | 0.2 mi | AirbnbVrboBooking |
Luxe 2,500 Sq ft Historic Retreat-Near Blue Ridge Apartment | 3 bd · 2 ba · sleeps 8 | $4,612 | $197 | 6% | 5★ (3) | 0.2 mi | AirbnbBooking |
Morgan Trail - Stunning Mountain Masterpiece Vacation home | 3 bd · 3 ba · sleeps 6 | $87,685 | $342 | 70% | — | 0.2 mi | Booking |
Altitude Adjustment Vacation home | 3 bd · 2 ba · sleeps 6 | $32,721 | $424 | 21% | — | 0.3 mi | Booking |
Mtn Views~Sleeps 8~Hot Tub~Game Room~Fireplace House | 3 bd · 3 ba · sleeps 8 | $59,399 | $322 | 51% | 5★ (14) | 0.6 mi | AirbnbVrboBooking |
Hickory Grove Haven | EV Charging & Hot Tub Cabin | 3 bd · 3 ba · sleeps 8 | $80,550 | $399 | 55% | 5★ (168) | 0.8 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 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$39,819
NOI
$20,706
Cash flow /mo
$110
Cash needed
$106,435
Cash-on-cash
1.2%
ROE (yr 1)
11.5%
Cap rate
6.9%
DSCR
1.07
Year-1 write-off
$85,348
Year-1 tax shield @ 32%
$27,311
Year-1 return on equity
- Cash flow (annual)$1,321
- Principal paydown$1,962
- Appreciation at%$8,993
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$7,964
- Platform fees (3% of revenue)$1,195
- Maintenance / capex (5% of revenue)$1,991
- Utilities & supplies$4,200
- HOA$0
- Property tax$571
- Insurance (STR-rated)$3,193
Cash needed to close
- Down payment (25%)$74,944
- Closing costs (4.0%)$11,991
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$27,311
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
$276,000
Short-life (5/15-yr)
$65,000 · 23%
Year-1 deduction
$85,000
Year-1 tax shield @ 32%
$27,000
Land 8% (county tax record, market value split) · building $211,000 over 39 years · new furniture $20,000
Based on: 1,488 sq ft, built 1963, 3 bd / 2 ba, unfurnished, listing features (fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $65,000 in year 1 (16% short-life, $21,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,200
Kitchen cabinetsdefault
$9,100 new × 40% good × 2.27 allocation
- $6,700
Kitchen countertopsdefault
$7,400 new × 40% good × 2.27 allocation
- $2,400
Decorative trimdefault
$2,600 new × 40% good × 2.27 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.27 allocation
- $1,100
Shelvingdefault
$1,200 new × 40% good × 2.27 allocation
- $3,400
Window coverings (15)default
$3,800 new × 40% good × 2.27 allocation
- $4,300
Carpet, vinyl & laminate (50% of floors)listing
$4,800 new × 40% good × 2.27 allocation
- $6,400
Kitchen & laundry equipment plumbingdefault
$7,100 new × 40% good × 2.27 allocation
- $3,900
Kitchen, laundry & data equipment electricaldefault
$4,300 new × 40% good × 2.27 allocation
- $7,000
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 2.27 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $9,100
Paving: driveway & walks (paved)default
$8,000 new × 50% good × 2.27 allocation
- $8,700
Landscaping (typical)default
$7,700 new × 50% good × 2.27 allocation
- $1,700
Patiosdefault
$1,500 new × 50% good × 2.27 allocation
- $1,700
Decks & porches (attached)default
$1,500 new × 50% good × 2.27 allocation
- $146,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$161,100 new × 40% good × 2.27 allocation
- $15,100
Building plumbing & fixturesdefault
$16,700 new × 40% good × 2.27 allocation
- $14,600
Building electrical & lightingdefault
$16,100 new × 40% good × 2.27 allocation
- $15,200
HVACdefault
$16,800 new × 40% good × 2.27 allocation
- $4,300
Hardwood & tile floorsdefault
$4,800 new × 40% good × 2.27 allocation
- $2,400
Fireplacelisting
$2,600 new × 40% good × 2.27 allocation
- $13,600
Septic systemlisting
$12,000 new × 50% good × 2.27 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $63,100 | $21,100 | $1,100 | $85,300 |
| 2 | $0 | $0 | $5,400 | $5,400 |
| 3 | $0 | $0 | $5,400 | $5,400 |
| 4 | $0 | $0 | $5,400 | $5,400 |
| 5 | $0 | $0 | $5,400 | $5,400 |
| 6+ | $0 | $0 | $188,500 | $188,500 |
| Total | $63,100 | $21,100 | $211,300 | $295,500 |
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.