772 Heritage Way
Ellijay, GA 30540
$407,000
2 bd · 2.5 ba · 1,333 sqft · Listed 1d ago
View on Realtor.com →Year built
1991
Sqft
1,333
Lot sqft
53,143
HOA / mo
$0
Furnished
No
List date
2026-09-28T15:54:54.000000Z
Revenue
Annual revenue
$35,462
ADR
$263
Occupancy
37%
Cleaning fees (12 mo)
$7,239
Confidence
Low (40.89), 11 comps
Comp revenue range (p25 / median / p75)
Aceres Haven! Cozy Fire Pit | Lake .5 | River 1.5
Cabin · 3 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $20,842ADR $316Occ ≈ 18%4★ (3)
Dog friendly 3-level cabin with stunning views & endless entertainment
Cabin · 3 bd · 3.5 ba · sleeps 12 · 0.7 mi
Revenue $5,338ADR $667Occ ≈ 2%4.5★
Creekside Bliss
Cabin · 3 bd · 3 ba · sleeps 12 · 0.7 mi
Revenue $31,110ADR $274Occ ≈ 31%4.8★ (102)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Inviting Ellijay Cabin: Firepit, Game Room, Trails Cabin | 3 bd · 3 ba · sleeps 9 | $37,474 | $268 | 38% | 5★ (19) | 0.3 mi | AirbnbVrboBooking |
Luxury Cabin Retreat | Hot Tub | BBQ | Lake Access Cabin | 3 bd · 2.5 ba · sleeps 10 | $33,772 | $327 | 28% | 5★ (60) | 0.3 mi | AirbnbVrboBooking |
Aceres Haven! Cozy Fire Pit | Lake .5 | River 1.5 Cabin | 3 bd · 2 ba · sleeps 6 | $20,842 | $316 | 18% | 4★ (3) | 0.4 mi | Airbnb |
Mt.Rush-No-More | Ellijay,GA Cabin | 2 bd · 2 ba · sleeps 4 | $50,935 | $368 | 38% | 4.8★ (25) | 0.6 mi | AirbnbVrbo |
River Cabin: Hot Tub, Dog-Friendly + Game Room Cabin | 3 bd · 2.5 ba · sleeps 8 | $41,090 | $286 | 39% | 5★ (25) | 0.7 mi | AirbnbVrboBooking |
Fish, Soak & Unwind on Mountaintown Creek Cabin | 3 bd · 3 ba · sleeps 8 | $77,076 | $333 | 63% | 5★ (165) | 0.7 mi | AirbnbVrbo |
Dog friendly 3-level cabin with stunning views & endless entertainment Cabin | 3 bd · 3.5 ba · sleeps 12 | $5,338 | $667 | 2% | 4.5★ | 0.7 mi | Vrbo |
Creekside Bliss Cabin | 3 bd · 3 ba · sleeps 12 | $31,110 | $274 | 31% | 4.8★ (102) | 0.7 mi | Airbnb |
Above the Current Cabin | 3 bd · 2 ba · sleeps 8 | $14,911 | $294 | 14% | 5★ (6) | 0.8 mi | AirbnbVrbo |
Family Cabin Near Blue Ridge | Hot Tub & Game Room House | 3 bd · 3.5 ba · sleeps 9 | $40,836 | $266 | 42% | 5★ (81) | 0.8 mi | AirbnbVrboBooking |
Show all 11 comps
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
$35,462
NOI
$15,138
Cash flow /mo
-$932
Cash needed
$134,030
Cash-on-cash
-8.3%
ROE (yr 1)
2.8%
Cap rate
3.7%
DSCR
0.58
Year-1 write-off
$115,494
Year-1 tax shield @ 32%
$36,958
Year-1 return on equity
- Cash flow (annual)-$11,180
- Principal paydown$2,663
- Appreciation at%$12,210
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$7,092
- Platform fees (3% of revenue)$1,064
- Maintenance / capex (5% of revenue)$1,773
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,799
- Insurance (STR-rated)$4,396
Cash needed to close
- Down payment (25%)$101,750
- Closing costs (4.0%)$16,280
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$36,958
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
$354,000
Short-life (5/15-yr)
$99,000 · 28%
Year-1 deduction
$115,000
Year-1 tax shield @ 32%
$37,000
Land 13% (county tax record, market value split) · building $255,000 over 39 years · new furniture $16,000
Based on: 1,333 sq ft, built 1991, 2 bd / 2.5 ba, unfurnished, listing features (deck, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $70,000 in year 1 (15% short-life, $22,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $10,500
Kitchen cabinetsdefault
$8,700 new × 40% good × 3.01 allocation
- $8,600
Kitchen countertopsdefault
$7,100 new × 40% good × 3.01 allocation
- $2,800
Decorative trimdefault
$2,300 new × 40% good × 3.01 allocation
- $400
Mirrorsdefault
$300 new × 40% good × 3.01 allocation
- $1,100
Shelvingdefault
$900 new × 40% good × 3.01 allocation
- $3,900
Window coverings (13)default
$3,300 new × 40% good × 3.01 allocation
- $10,300
Carpet, vinyl & laminate (100% of floors)listing
$8,600 new × 40% good × 3.01 allocation
- $8,200
Kitchen & laundry equipment plumbingdefault
$6,800 new × 40% good × 3.01 allocation
- $4,900
Kitchen, laundry & data equipment electricaldefault
$4,100 new × 40% good × 3.01 allocation
- $1,200
Appliances (dishwasher)listing
$1,000 new × 40% good × 3.01 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $11,400
Paving: driveway & walks (paved)default
$7,600 new × 50% good × 3.01 allocation
- $10,900
Landscaping (typical)default
$7,300 new × 50% good × 3.01 allocation
- $2,000
Patiosdefault
$1,300 new × 50% good × 3.01 allocation
- $22,500
Decks & porches (attached)listing
$15,000 new × 50% good × 3.01 allocation
- $180,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$144,500 new × 42% good × 3.01 allocation
- $18,000
Building plumbing & fixturesdefault
$15,000 new × 40% good × 3.01 allocation
- $17,000
Building electrical & lightingdefault
$14,200 new × 40% good × 3.01 allocation
- $18,100
HVACdefault
$15,000 new × 40% good × 3.01 allocation
- $3,200
Fireplacelisting
$2,600 new × 40% good × 3.01 allocation
- $18,000
Septic systemlisting
$12,000 new × 50% good × 3.01 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $67,800 | $46,800 | $800 | $115,500 |
| 2 | $0 | $0 | $6,500 | $6,500 |
| 3 | $0 | $0 | $6,500 | $6,500 |
| 4 | $0 | $0 | $6,500 | $6,500 |
| 5 | $0 | $0 | $6,500 | $6,500 |
| 6+ | $0 | $0 | $228,200 | $228,200 |
| Total | $67,800 | $46,800 | $255,200 | $369,900 |
The building's share of the price ($354,000) is 3.0x our depreciated replacement cost of the home ($118,000). 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 and Georgia 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.