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

57 Spruce St

Mineral Bluff, GA 30559

$59,000

2 bd · 1 ba · Listed 12d ago

View on Realtor.com →

Year built

1900

Sqft

—

Lot sqft

17,424

HOA / mo

Furnished

List date

2026-09-15T19:40:57.000000Z

Revenue

Annual revenue

$45,917

ADR

$237

Occupancy

53%

Cleaning fees (12 mo)

$8,806

Confidence

Low (49.97), 8 comps

Comp revenue range (p25 / median / p75)

$35,130$49,958$56,862

Easy Access Blue Ridge Cabin w/ Hot Tub
Cabin · 2 bd · 1 ba · sleeps 4 · 436 ft
Revenue $39,936ADR $180Occ ≈ 61%5★ (364)
Airbnb Vrbo
Luxury Geodesic Glamping Dome with Rain Shower & Loft Escape in Mineral Bluff, Georgia
Vacation home · 2 bd · 1 ba · sleeps 4 · 453 ft
Revenue $4,804ADR $404Occ ≈ 3%—
Booking
By The Peaks | $199 Off Your Stay!
Cabin · 2 bd · 2 ba · sleeps 4 · 479 ft
Revenue $59,216ADR $334Occ ≈ 49%4.9★ (131)
Airbnb Vrbo Booking
Hemptown Hollow! Creekfront:10 min from Blue Ridge
Cabin · 2 bd · 1 ba · sleeps 6 · 0.3 mi
Revenue $73,834ADR $309Occ ≈ 65%5★ (197)
Airbnb Vrbo
Deck, Panoramic Views: Serene Mineral Bluff Cabin!
Cabin · 2 bd · 2 ba · sleeps 4 · 0.4 mi
Revenue $20,712ADR $210Occ ≈ 27%4.9★ (47)
Airbnb Vrbo
Creekside Cabin Pet Friendly w/Hot Tub & Fire Pit!
Cabin · 2 bd · 2 ba · sleeps 4 · 0.5 mi
Revenue $56,077ADR $256Occ ≈ 60%5★ (111)
Airbnb Vrbo
Trout Tales Hideaway on the River.
Cabin · 2 bd · 2 ba · sleeps 4 · 0.6 mi
Revenue $48,020ADR $201Occ ≈ 65%5★ (127)
Airbnb Vrbo
Unique Treebarn! The Raven's Nest Elevated Escape
Cabin · 2 bd · 1 ba · sleeps 4 · 0.7 mi
Revenue $51,895ADR $194Occ ≈ 73%5★ (83)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Easy Access Blue Ridge Cabin w/ Hot Tub Cabin	2 bd · 1 ba · sleeps 4	$39,936	$180	61%	5★ (364)	436 ft	Airbnb Vrbo
Luxury Geodesic Glamping Dome with Rain Shower & Loft Escape in Mineral Bluff, Georgia Vacation home	2 bd · 1 ba · sleeps 4	$4,804	$404	3%	—	453 ft	Booking
By The Peaks \| $199 Off Your Stay! Cabin	2 bd · 2 ba · sleeps 4	$59,216	$334	49%	4.9★ (131)	479 ft	Airbnb Vrbo Booking
Hemptown Hollow! Creekfront:10 min from Blue Ridge Cabin	2 bd · 1 ba · sleeps 6	$73,834	$309	65%	5★ (197)	0.3 mi	Airbnb Vrbo
Deck, Panoramic Views: Serene Mineral Bluff Cabin! Cabin	2 bd · 2 ba · sleeps 4	$20,712	$210	27%	4.9★ (47)	0.4 mi	Airbnb Vrbo
Creekside Cabin Pet Friendly w/Hot Tub & Fire Pit! Cabin	2 bd · 2 ba · sleeps 4	$56,077	$256	60%	5★ (111)	0.5 mi	Airbnb Vrbo
Trout Tales Hideaway on the River. Cabin	2 bd · 2 ba · sleeps 4	$48,020	$201	65%	5★ (127)	0.6 mi	Airbnb Vrbo
Unique Treebarn! The Raven's Nest Elevated Escape Cabin	2 bd · 1 ba · sleeps 4	$51,895	$194	73%	5★ (83)	0.7 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

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracket

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

Est. revenue

$45,917

NOI

$28,047

Cash flow /mo

$2,019

Cash needed

$33,110

Cash-on-cash

73.2%

ROE (yr 1)

79.7%

Cap rate

47.5%

DSCR

7.35

Year-1 write-off

$30,094

Year-1 tax shield @ 32%

$9,630

Year-1 return on equity

Cash flow (annual)$24,232
Principal paydown$386
Appreciation at%$1,770

ROE79.7%

ROE incl. year-1 tax savings (32% bracket, STR loophole)108.8%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$9,183
Platform fees (3% of revenue)$1,378
Maintenance / capex (5% of revenue)$2,296
Utilities & supplies$4,200
HOA$0
Property tax$185
Insurance (STR-rated)$628

Cash needed to close

Down payment (25%)$14,750
Closing costs (4.0%)$2,360
Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

Tax shield @ 32%$9,630

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

$56,000

Short-life (5/15-yr)

$14,000 · 25%

Year-1 deduction

$30,000

Year-1 tax shield @ 32%

$10,000

Land 6% (county tax record, market value split) · building $42,000 over 39 years · new furniture $16,000

Based on: ~1,400 sq ft (from beds), built 1900, 2 bd / 1 ba, unfurnished, listing features (none cost-relevant).

IRS-guide safe-harbor floor: $26,000 in year 1 (17% short-life, $8,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$25,400

Kitchen cabinetsdefault
$8,900 new × 40% good × 0.51 allocation
$1,800
Kitchen countertopsdefault
$7,300 new × 40% good × 0.51 allocation
$1,500
Decorative trimdefault
$2,500 new × 40% good × 0.51 allocation
$500
Mirrorsdefault
$200 new × 40% good × 0.51 allocation
$0
Shelvingdefault
$900 new × 40% good × 0.51 allocation
$200
Window coverings (14)default
$3,500 new × 40% good × 0.51 allocation
$700
Carpet, vinyl & laminate (40% of floors)default
$3,600 new × 40% good × 0.51 allocation
$700
Kitchen & laundry equipment plumbingdefault
$6,900 new × 40% good × 0.51 allocation
$1,400
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 40% good × 0.51 allocation
$900
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 0.51 allocation
$1,700
Furniture bought newlisting
$16,000 new × 100% good · bought separately
$16,000

15-year land improvements$4,600

Paving: driveway & walks (paved)default
$7,800 new × 50% good × 0.51 allocation
$2,000
Landscaping (typical)default
$7,500 new × 50% good × 0.51 allocation
$1,900
Patiosdefault
$1,400 new × 50% good × 0.51 allocation
$400
Decks & porches (attached)default
$1,400 new × 50% good × 0.51 allocation
$400

Building, 39-year$41,600

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$151,900 new × 40% good × 0.51 allocation
$31,000
Building plumbing & fixturesdefault
$15,700 new × 40% good × 0.51 allocation
$3,200
Building electrical & lightingdefault
$15,000 new × 40% good × 0.51 allocation
$3,100
HVACdefault
$15,800 new × 40% good × 0.51 allocation
$3,200
Hardwood & tile floorsdefault
$5,400 new × 40% good × 0.51 allocation
$1,100

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	$25,400	$4,600	$100	$30,100
2	$0	$0	$1,100	$1,100
3	$0	$0	$1,100	$1,100
4	$0	$0	$1,100	$1,100
5	$0	$0	$1,100	$1,100
6+	$0	$0	$37,200	$37,200
Total	$25,400	$4,600	$41,600	$71,600

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.