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196 Grayson Pt

196 Grayson Pt

Blue Ridge, GA 30513

$660,000

4 bd · 3.5 ba · Listed 1d ago

View on Realtor.com →
Rental history

Year built

2020

Sqft

—

Lot sqft

74,052

HOA / mo

None

Furnished

Yes

List date

2026-09-28T23:17:57.000000Z

Revenue

Annual revenue

$54,509

ADR

$291

Occupancy

51%

Cleaning fees (12 mo)

$8,106

Confidence

Low (45.18), 11 comps

Comp revenue range (p25 / median / p75)

$32,494$54,430$75,204

  • Modern 3-Level Cabin Retreat | Hot Tub • Fire Pit

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 115 ft

    Revenue $34,862ADR $250Occ ≈ 38%4.8★ (61)

    AirbnbVrbo

  • Fireside Ridge - Blue Ridge-Luxury 4br/4.5 ba cabi

    Cabin · 4 bd · 4.5 ba · sleeps 8 · 0.1 mi

    Revenue $64,347ADR $437Occ ≈ 40%5★ (2)

    AirbnbVrboBooking

  • Cedar Grove Haven | Cabin w/ EV Charger & Hot Tub

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.3 mi

    Revenue $92,826ADR $447Occ ≈ 57%5★ (176)

    AirbnbVrbo

  • Spacious, Fun & Relaxing: GameRoom|Hot Tub|Firepit

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.4 mi

    Revenue $31,017ADR $4,057Occ ≈ 2%4.7★ (6)

    Airbnb

  • Spacious Family Cabin - Game Room Fire Pit Hot Tub

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.4 mi

    Revenue $67,572ADR $319Occ ≈ 58%5★ (81)

    AirbnbVrbo

  • Luxury mountain-view home with private hot tub and pool table - snowbirds OK

    Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.5 mi

    Revenue $94,568ADR $648Occ ≈ 40%4.5★ (22)

    Vrbo

  • The Skywalk at Blue Ridge

    House · 4 bd · 4.5 ba · sleeps 12 · 0.5 mi

    Revenue $44,512ADR $492Occ ≈ 25%4.8★ (17)

    AirbnbVrbo

  • Horizon Ridge amazing view, new, hot tub, fire pit

    Cabin · 4 bd · 4 ba · sleeps 8 · 0.5 mi

    Revenue $97,814ADR $440Occ ≈ 61%4.8★ (36)

    AirbnbVrbo

  • Lookout Lodge Retreat

    Cabin · 4 bd · 4.5 ba · sleeps 12 · 0.5 mi

    Revenue $32,627ADR $553Occ ≈ 16%4.8★ (62)

    Airbnb

  • House of Views Getaway

    House · 4 bd · 3 ba · sleeps 7 · 0.5 mi

    Revenue $2,702ADR $300Occ ≈ 2%3.4★ (5)

    Airbnb

Show all 12 comps

  • Gorgeous home with wraparound deck, mountain views, hot tub, sauna, & fireplace

    House · 4 bd · 3 ba · sleeps 7 · 0.6 mi

    Revenue $32,095ADR $329Occ ≈ 27%4.9★ (16)

    Vrbo

  • Pickleball, Minutes to Town, Hot Tub, Mtn Views

    Cabin · 4 bd · 3.5 ba · sleeps 12 · 0.7 mi

    Revenue $69,330ADR $458Occ ≈ 41%4.7★ (98)

    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

Est. revenue

$54,509

NOI

$26,109

Cash flow /mo

$2,176

Cash needed

$686,400

Cash-on-cash (all cash)

3.8%

ROE (yr 1)

6.7%

Cap rate

4.0%

DSCR

—

Year-1 write-off

$122,911

Year-1 tax shield @ 32%

$39,332

Year-1 return on equity

  • Cash flow (annual)$26,109
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$19,800
ROE6.7%
ROE incl. year-1 tax savings (32% bracket, STR loophole)12.4%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$10,902
  • Platform fees (3% of revenue)$1,635
  • Maintenance / capex (5% of revenue)$2,725
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,908
  • Insurance (STR-rated)$7,029

Cash needed to close

  • Purchase price (all cash)$660,000
  • Closing costs (4.0%)$26,400
  • Furnishing (conveyed with the sale)$0

Tax savings if the STR loophole applies

  • Tax shield @ 32%$39,332

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

$580,000

Short-life (5/15-yr)

$121,000 · 21%

Year-1 deduction

$123,000

Year-1 tax shield @ 32%

$39,000

Land 12% (county tax record, market value split) · building $458,000 over 39 years

Based on: ~2,400 sq ft (from beds), built 2020, 4 bd / 3.5 ba, furnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $68,000 in year 1 (11% short-life, $22,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$70,800

  • Kitchen cabinetsdefault

    $11,100 new × 76% good × 1.41 allocation

    $11,900

  • Kitchen countertopsdefault

    $9,000 new × 76% good × 1.41 allocation

    $9,700

  • Decorative trimdefault

    $4,200 new × 76% good × 1.41 allocation

    $4,500

  • Mirrorsdefault

    $500 new × 50% good × 1.41 allocation

    $300

  • Shelvingdefault

    $1,500 new × 76% good × 1.41 allocation

    $1,600

  • Window coverings (24)default

    $6,000 new × 40% good × 1.41 allocation

    $3,400

  • Kitchen & laundry equipment plumbingdefault

    $8,600 new × 88% good × 1.41 allocation

    $10,700

  • Kitchen, laundry & data equipment electricaldefault

    $5,200 new × 88% good × 1.41 allocation

    $6,500

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

    $7,700 new × 50% good × 1.41 allocation

    $5,400

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 1.41 allocation

    $5,100

  • Furniture conveyed with the sale (used)listing

    $23,000 new × 40% good · out of the price

    $9,200

  • Game-room equipment (used)listing

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

    $2,400
15-year land improvements$50,700

  • Paving: driveway & walks (paved)listing

    $10,200 new × 76% good × 1.41 allocation

    $10,900

  • Landscaping (typical)default

    $9,800 new × 76% good × 1.41 allocation

    $10,500

  • Patiosdefault

    $2,400 new × 76% good × 1.41 allocation

    $2,500

  • Decks & porches (attached)listing

    $27,000 new × 70% good × 1.41 allocation

    $26,700
Building, 39-year$458,400

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

    $260,300 new × 90% good × 1.41 allocation

    $331,200

  • Building plumbing & fixturesdefault

    $27,000 new × 88% good × 1.41 allocation

    $33,600

  • Building electrical & lightingdefault

    $27,700 new × 88% good × 1.41 allocation

    $34,500

  • HVACdefault

    $27,000 new × 70% good × 1.41 allocation

    $26,800

  • Hardwood & tile floorsdefault

    $15,400 new × 76% good × 1.41 allocation

    $16,600

  • Fireplacelisting

    $2,600 new × 76% good × 1.41 allocation

    $2,800

  • Septic systemlisting

    $12,000 new × 76% good × 1.41 allocation

    $12,900

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$70,800$50,700$1,500$122,900
2$0$0$11,800$11,800
3$0$0$11,800$11,800
4$0$0$11,800$11,800
5$0$0$11,800$11,800
6+$0$0$409,900$409,900
Total$70,800$50,700$458,400$579,800

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.