128 Summit View Dr

Ellijay, GA 30540

$550,000

4 bd · 3 ba · 2,676 sqft · Listed 25d ago

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Low confidence

Year built

2008

Sqft

2,676

Lot sqft

10,106

HOA / mo

Furnished

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)

$35,812$49,355$53,719

Luxury Cabin | Hot Tub | Pool | Game Room
House · 4 bd · 3 ba · sleeps 10 · 0.1 mi
Revenue $49,355ADR $442Occ ≈ 31%5★ (13)
Airbnb Vrbo
Summit Comfort- Community Pool, Air Hockey, Views!
Cabin · 4 bd · 3 ba · sleeps 8 · 0.2 mi
Revenue $20,507ADR $373Occ ≈ 15%5★ (3)
Airbnb Vrbo
Heaven Bound
Cabin · 3 bd · 3 ba · sleeps 7 · 0.4 mi
Revenue $35,812ADR $183Occ ≈ 54%4.9★ (110)
Airbnb
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)
Vrbo
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)
Airbnb

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	Airbnb Vrbo
Summit Comfort- Community Pool, Air Hockey, Views! Cabin	4 bd · 3 ba · sleeps 8	$20,507	$373	15%	5★ (3)	0.2 mi	Airbnb Vrbo
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

Financing

Purchase priceAlready furnishedTax bracket

Est. revenue

$43,459

NOI

$20,022

Cash flow /mo

$1,669

Cash needed

$601,000

Cash-on-cash (all cash)

3.3%

ROE (yr 1)

6.1%

Cap rate

3.6%

DSCR

—

Year-1 write-off

$98,312

Year-1 tax shield @ 32%

$31,460

Year-1 return on equity

Cash flow (annual)$20,022
Principal paydown (n/a, cash)$0
Appreciation at%$16,500

ROE6.1%

ROE incl. year-1 tax savings (32% bracket, STR loophole)11.3%

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

Purchase price (all cash)$550,000
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.

5-year property$74,800

Kitchen cabinetsdefault
$11,700 new × 40% good × 1.68 allocation
$7,800
Kitchen countertops (stone)listing
$11,900 new × 40% good × 1.68 allocation
$8,000
Decorative trimdefault
$4,700 new × 40% good × 1.68 allocation
$3,100
Mirrorsdefault
$500 new × 40% good × 1.68 allocation
$300
Shelvingdefault
$1,500 new × 40% good × 1.68 allocation
$1,000
Window coverings (27)default
$6,800 new × 40% good × 1.68 allocation
$4,500
Kitchen & laundry equipment plumbingdefault
$9,100 new × 64% good × 1.68 allocation
$9,700
Kitchen, laundry & data equipment electricaldefault
$5,500 new × 64% good × 1.68 allocation
$5,900
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 40% good × 1.68 allocation
$5,400
Furniture bought newlisting
$23,000 new × 100% good · bought separately
$23,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
$6,000

15-year land improvements$22,100

Paving: driveway & walks (paved)default
$10,700 new × 50% good × 1.68 allocation
$9,000
Landscaping (typical)default
$10,300 new × 50% good × 1.68 allocation
$8,600
Patiosdefault
$2,600 new × 50% good × 1.68 allocation
$2,200
Decks & porches (attached)default
$2,600 new × 50% good × 1.68 allocation
$2,200

Building, 39-year$440,100

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$290,400 new × 70% good × 1.68 allocation
$340,700
Building plumbing & fixturesdefault
$30,200 new × 64% good × 1.68 allocation
$32,300
Building electrical & lightingdefault
$31,200 new × 64% good × 1.68 allocation
$33,500
HVACdefault
$30,100 new × 40% good × 1.68 allocation
$20,200
Hardwood & tile floorsdefault
$17,200 new × 40% good × 1.68 allocation
$11,500
Fireplacelisting
$2,600 new × 40% good × 1.68 allocation
$1,800

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	$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.