128 Summit View Dr
Ellijay, GA 30540
$550,000
4 bd · 3 ba · 2,676 sqft · Listed 25d ago
View on Realtor.com →Year built
2008
Sqft
2,676
Lot sqft
10,106
HOA / mo
$0
Furnished
No
List date
2026-09-02T00:14:05.000000Z
Revenue
Annual revenue
$43,459
ADR
$230
Occupancy
52%
Cleaning fees (12 mo)
$7,053
Confidence
Med (61.98), 5 comps
Comp revenue range (p25 / median / p75)
NEW 3-bedroom cozy cabin on 3 acres in awesome Ellijay, with a hot tub!
Cabin · 3 bd · 2 ba · sleeps 8 · 0.6 mi
Revenue $64,506ADR $229Occ ≈ 77%5★ (1)
AJ's Lake House w/ kayaks and a custom fire pit
Cabin · 3 bd · 2 ba · sleeps 6 · 0.8 mi
Revenue $53,719ADR $308Occ ≈ 48%4.8★ (15)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Luxury Cabin | Hot Tub | Pool | Game Room House | 4 bd · 3 ba · sleeps 10 | $49,355 | $442 | 31% | 5★ (13) | 0.1 mi | AirbnbVrbo |
Summit Comfort- Community Pool, Air Hockey, Views! Cabin | 4 bd · 3 ba · sleeps 8 | $20,507 | $373 | 15% | 5★ (3) | 0.2 mi | AirbnbVrbo |
Heaven Bound Cabin | 3 bd · 3 ba · sleeps 7 | $35,812 | $183 | 54% | 4.9★ (110) | 0.4 mi | Airbnb |
NEW 3-bedroom cozy cabin on 3 acres in awesome Ellijay, with a hot tub! Cabin | 3 bd · 2 ba · sleeps 8 | $64,506 | $229 | 77% | 5★ (1) | 0.6 mi | Vrbo |
AJ's Lake House w/ kayaks and a custom fire pit Cabin | 3 bd · 2 ba · sleeps 6 | $53,719 | $308 | 48% | 4.8★ (15) | 0.8 mi | Airbnb |
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
$43,459
NOI
$20,022
Cash flow /mo
-$1,295
Cash needed
$188,500
Cash-on-cash
-8.2%
ROE (yr 1)
2.4%
Cap rate
3.6%
DSCR
0.56
Year-1 write-off
$98,312
Year-1 tax shield @ 32%
$31,460
Year-1 return on equity
- Cash flow (annual)-$15,543
- Principal paydown$3,599
- Appreciation at%$16,500
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$8,692
- Platform fees (3% of revenue)$1,304
- Maintenance / capex (5% of revenue)$2,173
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,128
- Insurance (STR-rated)$5,940
Cash needed to close
- Down payment (25%)$137,500
- Closing costs (4.0%)$22,000
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$31,460
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
$508,000
Short-life (5/15-yr)
$68,000 · 13%
Year-1 deduction
$98,000
Year-1 tax shield @ 32%
$31,000
Land 8% (county tax record, market value split) · building $440,000 over 39 years · new furniture $29,000
Based on: 2,676 sq ft, built 2008, 4 bd / 3 ba, unfurnished, listing features (game room, fireplace, stone counters, flooring types, appliance list).
IRS-guide safe-harbor floor: $76,000 in year 1 (9% short-life, $24,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $7,800
Kitchen cabinetsdefault
$11,700 new × 40% good × 1.68 allocation
- $8,000
Kitchen countertops (stone)listing
$11,900 new × 40% good × 1.68 allocation
- $3,100
Decorative trimdefault
$4,700 new × 40% good × 1.68 allocation
- $300
Mirrorsdefault
$500 new × 40% good × 1.68 allocation
- $1,000
Shelvingdefault
$1,500 new × 40% good × 1.68 allocation
- $4,500
Window coverings (27)default
$6,800 new × 40% good × 1.68 allocation
- $9,700
Kitchen & laundry equipment plumbingdefault
$9,100 new × 64% good × 1.68 allocation
- $5,900
Kitchen, laundry & data equipment electricaldefault
$5,500 new × 64% good × 1.68 allocation
- $5,400
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 40% good × 1.68 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $9,000
Paving: driveway & walks (paved)default
$10,700 new × 50% good × 1.68 allocation
- $8,600
Landscaping (typical)default
$10,300 new × 50% good × 1.68 allocation
- $2,200
Patiosdefault
$2,600 new × 50% good × 1.68 allocation
- $2,200
Decks & porches (attached)default
$2,600 new × 50% good × 1.68 allocation
- $340,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$290,400 new × 70% good × 1.68 allocation
- $32,300
Building plumbing & fixturesdefault
$30,200 new × 64% good × 1.68 allocation
- $33,500
Building electrical & lightingdefault
$31,200 new × 64% good × 1.68 allocation
- $20,200
HVACdefault
$30,100 new × 40% good × 1.68 allocation
- $11,500
Hardwood & tile floorsdefault
$17,200 new × 40% good × 1.68 allocation
- $1,800
Fireplacelisting
$2,600 new × 40% good × 1.68 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $74,800 | $22,100 | $1,400 | $98,300 |
| 2 | $0 | $0 | $11,300 | $11,300 |
| 3 | $0 | $0 | $11,300 | $11,300 |
| 4 | $0 | $0 | $11,300 | $11,300 |
| 5 | $0 | $0 | $11,300 | $11,300 |
| 6+ | $0 | $0 | $393,500 | $393,500 |
| Total | $74,800 | $22,100 | $440,100 | $537,000 |
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.