230 September Ln
Ellijay, GA 30540
$405,000
3 bd · 2 ba · 2,090 sqft · Listed 11d ago
View on Realtor.com →Year built
1970
Sqft
2,090
Lot sqft
52,272
HOA / mo
$0
Furnished
No
List date
2026-09-16T15:39:00.000000Z
Revenue
Annual revenue
$27,346
ADR
$185
Occupancy
40%
Cleaning fees (12 mo)
$5,755
Confidence
Low (3.23), 5 comps
Comp revenue range (p25 / median / p75)
The Huff House on Boardtown
House · 3 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $4,933ADR $253Occ ≈ 5%5★ (17)
Room 2 min from downtown Ellijay
Tiny house · 2 bd · 1 ba · sleeps 4 · 0.6 mi
Revenue $1,197ADR $92Occ ≈ 4%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
The Huff House on Boardtown House | 3 bd · 2 ba · sleeps 6 | $4,933 | $253 | 5% | 5★ (17) | 0.4 mi | Airbnb |
Room 2 min from downtown Ellijay Tiny house | 2 bd · 1 ba · sleeps 4 | $1,197 | $92 | 4% | — | 0.6 mi | Airbnb |
Riverfront Modern Cabin/hot tub, 1 min to Ellijay Cabin | 3 bd · 2.5 ba · sleeps 7 | $67,399 | $482 | 38% | 5★ (86) | 0.6 mi | AirbnbVrbo |
Cozy Cabin•Hot Tub•Walk to Downtown Cabin | 2 bd · 2 ba · sleeps 4 | $25,007 | $221 | 31% | 5★ (29) | 0.6 mi | AirbnbVrboBooking |
Mountain River Retreat Star5Vacations NEW! House | 3 bd · 2.5 ba · sleeps 8 | $46,155 | $281 | 45% | 4.8★ (69) | 0.7 mi | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$27,346
NOI
$9,518
Cash flow /mo
-$1,389
Cash needed
$142,950
Cash-on-cash
-11.7%
ROE (yr 1)
-1.3%
Cap rate
2.4%
DSCR
0.36
Year-1 write-off
$118,430
Year-1 tax shield @ 32%
$37,898
Year-1 return on equity
- Cash flow (annual)-$16,671
- Principal paydown$2,650
- Appreciation at%$12,150
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$5,469
- Platform fees (3% of revenue)$820
- Maintenance / capex (5% of revenue)$1,367
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,597
- Insurance (STR-rated)$4,374
Cash needed to close
- Down payment (25%)$101,250
- Closing costs (4.0%)$16,200
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$37,898
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
$382,000
Short-life (5/15-yr)
$92,000 · 24%
Year-1 deduction
$118,000
Year-1 tax shield @ 32%
$38,000
Land 6% (county tax record, market value split) · building $290,000 over 39 years · new furniture $26,000
Based on: 2,090 sq ft, built 1970, 3 bd / 2 ba, unfurnished, listing features (deck, fence, game room, fireplace, flooring types, appliance list, septic, wooded lot).
IRS-guide safe-harbor floor: $72,000 in year 1 (12% short-life, $23,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $9,100
Kitchen cabinetsdefault
$10,400 new × 40% good × 2.20 allocation
- $7,500
Kitchen countertopsdefault
$8,500 new × 40% good × 2.20 allocation
- $3,200
Decorative trimdefault
$3,700 new × 40% good × 2.20 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.20 allocation
- $1,100
Shelvingdefault
$1,200 new × 40% good × 2.20 allocation
- $4,600
Window coverings (21)default
$5,300 new × 40% good × 2.20 allocation
- $7,100
Kitchen & laundry equipment plumbingdefault
$8,100 new × 40% good × 2.20 allocation
- $4,300
Kitchen, laundry & data equipment electricaldefault
$4,900 new × 40% good × 2.20 allocation
- $1,800
Appliances (microwave, dishwasher, disposal)listing
$2,100 new × 40% good × 2.20 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $10,400
Paving: driveway & walks (paved)default
$9,500 new × 50% good × 2.20 allocation
- $5,000
Landscaping (minimal)listing
$4,600 new × 50% good × 2.20 allocation
- $2,300
Patiosdefault
$2,100 new × 50% good × 2.20 allocation
- $25,900
Decks & porches (attached)listing
$23,500 new × 50% good × 2.20 allocation
- $6,600
Fencinglisting
$6,000 new × 50% good × 2.20 allocation
- $2,800
Site lightinglisting
$2,500 new × 50% good × 2.20 allocation
- $199,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$226,900 new × 40% good × 2.20 allocation
- $20,700
Building plumbing & fixturesdefault
$23,500 new × 40% good × 2.20 allocation
- $20,900
Building electrical & lightingdefault
$23,800 new × 40% good × 2.20 allocation
- $20,700
HVACdefault
$23,500 new × 40% good × 2.20 allocation
- $11,800
Hardwood & tile floorsdefault
$13,400 new × 40% good × 2.20 allocation
- $2,300
Fireplacelisting
$2,600 new × 40% good × 2.20 allocation
- $13,200
Septic systemlisting
$12,000 new × 50% good × 2.20 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $64,500 | $53,000 | $900 | $118,400 |
| 2 | $0 | $0 | $7,400 | $7,400 |
| 3 | $0 | $0 | $7,400 | $7,400 |
| 4 | $0 | $0 | $7,400 | $7,400 |
| 5 | $0 | $0 | $7,400 | $7,400 |
| 6+ | $0 | $0 | $258,900 | $258,900 |
| Total | $64,500 | $53,000 | $289,500 | $407,000 |
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.