Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium

21 Riverview Cir

Blue Ridge, GA 30513

$800,000

2 bd · 2 ba · 1,126 sqft · Listed 1d ago

View on Realtor.com →

Negative cash flow

Year built

2020

Sqft

1,126

Lot sqft

65,340

HOA / mo

None

Furnished

Yes

List date

2026-10-12T19:05:10.000000Z

Revenue

Annual revenue

$44,675

ADR

$200

Occupancy

61%

Cleaning fees (12 mo)

$7,384

Confidence

Med (56.26), 15 comps

Comp revenue range (p25 / median / p75)

$30,735$44,034$57,748

Median revenue of shown comps: $44,034

The Toccoa Overlook
Cabin · 2 bd · 2 ba · sleeps 4 · 174 ft
- Hot tub
- Pool
- A/C
- Free parking
- +7
Revenue $69,375ADR $239Occ ≈ 80%5★ (302)
Airbnb Vrbo Booking
Fantastic Glamping Tiny Home Rental on The Toccoa River in Blue Ridge, Georgia
Cabin · 2 bd · 2 ba · sleeps 8 · 177 ft
- Pool
- A/C
- Pets OK
- Wifi
- +2
Revenue $33,654ADR $307Occ ≈ 30%4.2★
Vrbo
The Carriage House
Cabin · 2 bd · 2 ba · sleeps 6 · 295 ft
- Hot tub
- Pool
- A/C
- Free parking
- +7
Revenue $49,001ADR $189Occ ≈ 71%4.9★ (489)
Airbnb Vrbo Booking
Delightful Cabin Rental with Mountain Views near Chattahoochee National Forest, Georgia
Cabin · 2 bd · 2 ba · sleeps 6 · 308 ft
- Pool
- A/C
- Pets OK
- Wifi
- +3
Revenue $24,249ADR $267Occ ≈ 25%4★ (1)
Vrbo
Reel Sweet
Cabin · 2 bd · 2 ba · sleeps 5 · 0.1 mi
Revenue $12,266ADR $324Occ ≈ 10%5★ (45)
Airbnb
Riverfront Cabin • Hot Tub • Near Blue Ridge
Cabin · 2 bd · 2 ba · sleeps 6 · 0.3 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +5
Revenue $38,490ADR $300Occ ≈ 35%4.9★ (23)
Airbnb Vrbo Booking
Romantic Riverfront Cabin with Pool Access in Blue Ridge, Georgia
Cabin · 2 bd · 2 ba · sleeps 4 · 0.3 mi
- Pool
- A/C
- Pets OK
- Wifi
- +2
Revenue $32,849ADR $264Occ ≈ 34%—
Vrbo
Romantic Riverfront Cabin with Pool Access in Blue Ridge, Georgia
Vacation home · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $62,306ADR $188Occ ≈ 91%—
Booking
River’s Edge: Toccoa Riverfront • Farm Chic
Cabin · 2 bd · 3 ba · sleeps 4 · 0.4 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +4
Revenue $44,034ADR $236Occ ≈ 51%4.9★ (23)
Airbnb Vrbo
The Bend at Toccoa River Retreat
Cabin · 2 bd · 1.5 ba · sleeps 6 · 0.4 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +4
Revenue $65,499ADR $255Occ ≈ 70%5★ (63)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
The Toccoa Overlook Cabin Hot tub Pool A/C Free parking +7	2 bd · 2 ba · sleeps 4	$69,375	$239	80%	5★ (302)	174 ft	Airbnb Vrbo Booking
Fantastic Glamping Tiny Home Rental on The Toccoa River in Blue Ridge, Georgia Cabin Pool A/C Pets OK Wifi +2	2 bd · 2 ba · sleeps 8	$33,654	$307	30%	4.2★	177 ft	Vrbo
The Carriage House Cabin Hot tub Pool A/C Free parking +7	2 bd · 2 ba · sleeps 6	$49,001	$189	71%	4.9★ (489)	295 ft	Airbnb Vrbo Booking
Delightful Cabin Rental with Mountain Views near Chattahoochee National Forest, Georgia Cabin Pool A/C Pets OK Wifi +3	2 bd · 2 ba · sleeps 6	$24,249	$267	25%	4★ (1)	308 ft	Vrbo
Reel Sweet Cabin	2 bd · 2 ba · sleeps 5	$12,266	$324	10%	5★ (45)	0.1 mi	Airbnb
Riverfront Cabin • Hot Tub • Near Blue Ridge Cabin Hot tub A/C Free parking Pets OK +5	2 bd · 2 ba · sleeps 6	$38,490	$300	35%	4.9★ (23)	0.3 mi	Airbnb Vrbo Booking
Romantic Riverfront Cabin with Pool Access in Blue Ridge, Georgia Cabin Pool A/C Pets OK Wifi +2	2 bd · 2 ba · sleeps 4	$32,849	$264	34%	—	0.3 mi	Vrbo
Romantic Riverfront Cabin with Pool Access in Blue Ridge, Georgia Vacation home	2 bd · 2 ba · sleeps 4	$62,306	$188	91%	—	0.3 mi	Booking
River’s Edge: Toccoa Riverfront • Farm Chic Cabin Hot tub A/C Free parking Pets OK +4	2 bd · 3 ba · sleeps 4	$44,034	$236	51%	4.9★ (23)	0.4 mi	Airbnb Vrbo
The Bend at Toccoa River Retreat Cabin Hot tub A/C Free parking Pets OK +4	2 bd · 1.5 ba · sleeps 6	$65,499	$255	70%	5★ (63)	0.4 mi	Airbnb Vrbo

Show 5 more

Rivers Edge- Toccoa River, Hot Tub, Riverside Deck
Cabin · 2 bd · 3 ba · sleeps 4 · 0.4 mi
Revenue $59,914ADR $360Occ ≈ 46%4.7★ (8)
Airbnb Booking
Blue Ridge A Frame | Hot Tub | Screened Porch
Cabin · 2 bd · 1 ba · sleeps 4 · 0.6 mi
- Hot tub
- A/C
- Free parking
- Wifi
- +4
Revenue $55,581ADR $224Occ ≈ 68%5★ (99)
Airbnb Vrbo Booking
Louise's Treehouse in the Mountains
Cabin · 2 bd · 2.5 ba · sleeps 4 · 0.6 mi
- Hot tub
- A/C
- Free parking
- Wifi
- +4
Revenue $28,620ADR $188Occ ≈ 42%5★ (32)
Airbnb
Trout Tales Hideaway on the River.
Cabin · 2 bd · 2 ba · sleeps 4 · 0.7 mi
- A/C
- Wifi
- Kitchen
- Washer
- +2
Revenue $55,108ADR $230Occ ≈ 66%5★ (131)
Airbnb Vrbo
Serenity Blue Ridge
Cabin · 2 bd · 2 ba · sleeps 5 · 0.7 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +2
Revenue $11,425ADR $140Occ ≈ 22%5★ (110)
Airbnb

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Rivers Edge- Toccoa River, Hot Tub, Riverside Deck Cabin	2 bd · 3 ba · sleeps 4	$59,914	$360	46%	4.7★ (8)	0.4 mi	Airbnb Booking
Blue Ridge A Frame \| Hot Tub \| Screened Porch Cabin Hot tub A/C Free parking Wifi +4	2 bd · 1 ba · sleeps 4	$55,581	$224	68%	5★ (99)	0.6 mi	Airbnb Vrbo Booking
Louise's Treehouse in the Mountains Cabin Hot tub A/C Free parking Wifi +4	2 bd · 2.5 ba · sleeps 4	$28,620	$188	42%	5★ (32)	0.6 mi	Airbnb
Trout Tales Hideaway on the River. Cabin A/C Wifi Kitchen Washer +2	2 bd · 2 ba · sleeps 4	$55,108	$230	66%	5★ (131)	0.7 mi	Airbnb Vrbo
Serenity Blue Ridge Cabin A/C Free parking Wifi Kitchen +2	2 bd · 2 ba · sleeps 5	$11,425	$140	22%	5★ (110)	0.7 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

Management

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracketCount tax savings in returnsOnly if you can use the losses (STR loophole)

Rate 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium

Est. revenue

$44,675

NOI

$17,270

Cash flow /mo

-$3,026

Cash needed

$232,000

Cash-on-cash

-15.7%

ROE (yr 1)

-3.2%

Cap rate

2.2%

DSCR

0.32

Year-1 write-off

$169,877

Year-1 tax shield @ 32%

$54,361

Year-1 return on equity

Cash flow (annual)-$36,316
Principal paydown$4,865
Appreciation at%$24,000

ROE-3.2%

Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$8,935
Platform fees (3% of revenue)$1,340
Maintenance / capex (5% of revenue)$2,234
Utilities & supplies$4,200
HOA$0
Property tax$2,176
Insurance (STR-rated)$8,520

Cash needed to close

Down payment (25%)$200,000
Closing costs (4.0%)$32,000
Furnishing (conveyed with the sale)$0

Tax savings if the STR loophole applies

Tax shield @ 32%$54,361

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

$664,000

Short-life (5/15-yr)

$169,000 · 25%

Year-1 deduction

$170,000

Year-1 tax shield @ 32%

$54,000

Land 17% (county tax record, market value split) · building $495,000 over 39 years

Based on: 1,126 sq ft, built 2020, 2 bd / 2 ba, furnished, listing features (hot tub, deck, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $98,000 in year 1 (15% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$105,800

Kitchen cabinetsdefault
$8,300 new × 76% good × 3.17 allocation
$19,900
Kitchen countertopsdefault
$6,800 new × 76% good × 3.17 allocation
$16,300
Decorative trimdefault
$2,000 new × 76% good × 3.17 allocation
$4,700
Mirrorsdefault
$300 new × 50% good × 3.17 allocation
$500
Shelvingdefault
$900 new × 76% good × 3.17 allocation
$2,200
Window coverings (11)default
$2,800 new × 40% good × 3.17 allocation
$3,500
Kitchen & laundry equipment plumbingdefault
$6,400 new × 88% good × 3.17 allocation
$17,900
Kitchen, laundry & data equipment electricaldefault
$3,900 new × 88% good × 3.17 allocation
$10,800
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 50% good × 3.17 allocation
$12,200
Hot tub (freestanding)listing
$9,000 new × 40% good × 3.17 allocation
$11,400
Furniture conveyed with the sale (used)listing
$16,000 new × 40% good · out of the price
$6,400

15-year land improvements$63,600

Paving: driveway & walks (paved)default
$7,000 new × 76% good × 3.17 allocation
$16,700
Landscaping (typical)default
$6,700 new × 76% good × 3.17 allocation
$16,100
Patiosdefault
$1,100 new × 76% good × 3.17 allocation
$2,700
Decks & porches (attached)listing
$12,700 new × 70% good × 3.17 allocation
$28,100

Building, 39-year$495,100

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$121,800 new × 90% good × 3.17 allocation
$347,100
Building plumbing & fixturesdefault
$12,600 new × 88% good × 3.17 allocation
$35,100
Building electrical & lightingdefault
$11,500 new × 88% good × 3.17 allocation
$32,200
HVACdefault
$12,700 new × 70% good × 3.17 allocation
$28,100
Hardwood & tile floorsdefault
$7,200 new × 76% good × 3.17 allocation
$17,400
Fireplacelisting
$2,600 new × 76% good × 3.17 allocation
$6,300
Septic systemlisting
$12,000 new × 76% good × 3.17 allocation
$28,900

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	$105,800	$63,600	$500	$169,900
2	$0	$0	$12,700	$12,700
3	$0	$0	$12,700	$12,700
4	$0	$0	$12,700	$12,700
5	$0	$0	$12,700	$12,700
6+	$0	$0	$443,800	$443,800
Total	$105,800	$63,600	$495,100	$664,500

The building's share of the price ($658,000) is 3.2x our depreciated replacement cost of the home ($208,000). 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, Georgia and Wisconsin 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.