456 Nicholson Rd
Blue Ridge, GA 30513
$585,000
3 bd · 1 ba · Listed today
View on Realtor.com →Year built
1950
Sqft
—
Lot sqft
787,129
HOA / mo
None
Furnished
No
List date
2026-10-17T11:59:29.000000Z
Revenue
Annual revenue
$44,005
ADR
$223
Occupancy
54%
Cleaning fees (12 mo)
$8,101
Confidence
Low (27.47), 22 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $36,173
Bear in the Woods Blue Ridge~Cabin~ Recharge!
Cabin · 3 bd · 2 ba · sleeps 6 · 0.9 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +3
Revenue $14,176ADR $176Occ ≈ 22%4.9★ (66)
On river/fire pit/10acres/secluded/boat parking
House · 3 bd · 2 ba · sleeps 8 · 1.0 mi
Revenue $44,971ADR $272Occ ≈ 45%5★ (5)
Tranquil house on 10 acres in Blue Ridge/ boat and tv parking/ fire pit
House · 3 bd · 2 ba · sleeps 8 · 1.3 mi
Revenue $15,294ADR $183Occ ≈ 23%—
Delisted
Fightingtown Creek Cabin
Cabin · 3 bd · 2 ba · sleeps 6 · 1.5 mi
Revenue $16,483ADR $331Occ ≈ 14%—
Holiday House
Vacation home · 3 bd · 2 ba · sleeps 8 · 1.6 mi
Revenue $38,429ADR $318Occ ≈ 33%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
200ft Fightingtown Creek Frnt/Hot Tub/Arcd House | 3 bd · 2 ba · sleeps 7 | $129,001 | $411 | 86% | 5★ (152) | 0.9 mi | AirbnbVrboBooking |
Bear in the Woods Blue Ridge~Cabin~ Recharge! Cabin
| 3 bd · 2 ba · sleeps 6 | $14,176 | $176 | 22% | 4.9★ (66) | 0.9 mi | Airbnb |
On river/fire pit/10acres/secluded/boat parking House | 3 bd · 2 ba · sleeps 8 | $44,971 | $272 | 45% | 5★ (5) | 1.0 mi | Airbnb |
Secluded Escape • Fire Pit • Gazebo • Dog Welcome House | 3 bd · 2 ba · sleeps 6 | $26,411 | $239 | 30% | 5★ (1) | 1.0 mi | AirbnbBooking |
Blue Sky Dreams - Stunning view and outdoor space! Cabin
| 3 bd · 2 ba · sleeps 8 | $61,164 | $284 | 59% | 5★ (82) | 1.1 mi | AirbnbVrboBooking |
Fire Pit w/ Mtn Views! Blue Ridge Cabin Retreat Cabin
| 3 bd · 2 ba · sleeps 6 | $13,956 | $153 | 25% | 5★ (8) | 1.1 mi | AirbnbVrboBooking |
Tranquil house on 10 acres in Blue Ridge/ boat and tv parking/ fire pit House | 3 bd · 2 ba · sleeps 8 | $15,294 | $183 | 23% | — | 1.3 mi | Delisted |
Fightingtown Creek Cabin Cabin | 3 bd · 2 ba · sleeps 6 | $16,483 | $331 | 14% | — | 1.5 mi | Vrbo |
Mae’s Cottage in the Clouds Cabin
| 3 bd · 2 ba · sleeps 6 | $19,720 | $212 | 25% | 4.9★ (161) | 1.5 mi | AirbnbVrboBooking |
Holiday House Vacation home | 3 bd · 2 ba · sleeps 8 | $38,429 | $318 | 33% | — | 1.6 mi | Booking |
Show 12 more
Creekwood Cabin
Vacation home · 3 bd · 2 ba · sleeps 6 · 1.6 mi
Revenue $72,790ADR $408Occ ≈ 49%—
*NEW* Cabin with HOT TUB! | Fox Run
Cabin · 3 bd · 2 ba · sleeps 8 · 1.7 mi
Revenue $16,116ADR $575Occ ≈ 8%4.7★ (78)
Creekwood Cabin- Waterfront, Hot Tub, Game Room
Cabin · 3 bd · 2 ba · sleeps 6 · 1.7 mi
Revenue $58,046ADR $420Occ ≈ 38%5★ (4)
Luxe 2,500 Sq ft Historic Retreat-Near Blue Ridge
Apartment · 3 bd · 2 ba · sleeps 8 · 2.1 mi
Revenue $5,064ADR $199Occ ≈ 7%5★ (3)
Delisted
Altitude Adjustment
Vacation home · 3 bd · 2 ba · sleeps 6 · 2.2 mi
Revenue $30,761ADR $433Occ ≈ 19%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Holiday House- Pet Friendly, HotTub, Modern Luxury Cabin
| 3 bd · 2 ba · sleeps 8 | $40,074 | $344 | 32% | 4.8★ (12) | 1.6 mi | AirbnbVrbo |
Creekwood Cabin Vacation home | 3 bd · 2 ba · sleeps 6 | $72,790 | $408 | 49% | — | 1.6 mi | Booking |
*NEW* Cabin with HOT TUB! | Fox Run Cabin | 3 bd · 2 ba · sleeps 8 | $16,116 | $575 | 8% | 4.7★ (78) | 1.7 mi | Airbnb |
Brand New! Huge Deck, Spa, Fire Pit, Ping Pong! Cabin
| 3 bd · 2 ba · sleeps 10 | $54,543 | $222 | 67% | 4.9★ (205) | 1.7 mi | AirbnbVrbo |
Creekwood Cabin- Waterfront, Hot Tub, Game Room Cabin | 3 bd · 2 ba · sleeps 6 | $58,046 | $420 | 38% | 5★ (4) | 1.7 mi | Airbnb |
Falling Waters Cabin
| 3 bd · 2 ba · sleeps 8 | $35,074 | $294 | 33% | 5★ (6) | 1.9 mi | AirbnbBooking |
Sasquatch River Retreat Cabin
| 3 bd · 2 ba · sleeps 6 | $66,432 | $252 | 72% | 5★ (91) | 1.9 mi | AirbnbVrbo |
Unique rustic farmhouse with games and charm Apartment
| 3 bd · 2 ba · sleeps 8 | $9,024 | $176 | 14% | 5★ (3) | 2.1 mi | AirbnbVrboBooking |
Kings beds, spa, game room, fire pit, creek-front! Cabin
| 3 bd · 2 ba · sleeps 10 | $37,271 | $258 | 40% | 5★ (67) | 2.1 mi | AirbnbVrbo |
Bear Naked Hideaway - Hot tub, creek, and firepit! Cabin
| 3 bd · 2 ba · sleeps 6 | $59,334 | $211 | 77% | 4.5★ (13) | 2.1 mi | AirbnbVrboBooking |
Luxe 2,500 Sq ft Historic Retreat-Near Blue Ridge Apartment | 3 bd · 2 ba · sleeps 8 | $5,064 | $199 | 7% | 5★ (3) | 2.1 mi | Delisted |
Altitude Adjustment Vacation home | 3 bd · 2 ba · sleeps 6 | $30,761 | $433 | 19% | — | 2.2 mi | Booking |
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 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 15) + 0.75% investor premium
Est. revenue
$44,005
NOI
$16,807
Cash flow /mo
-$1,865
Cash needed
$189,150
Cash-on-cash
-11.8%
ROE (yr 1)
-0.7%
Cap rate
2.9%
DSCR
0.43
Year-1 write-off
$122,091
Year-1 tax shield @ 32%
$39,069
Year-1 return on equity
- Cash flow (annual)-$22,377
- Principal paydown$3,557
- Appreciation at%$17,550
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)$8,801
- Platform fees (3% of revenue)$1,320
- Maintenance / capex (5% of revenue)$2,200
- Utilities & supplies$4,200
- HOA$0
- Property tax$4,446
- Insurance (STR-rated)$6,230
Cash needed to close
- Down payment (25%)$146,250
- Closing costs (4.0%)$23,400
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$39,069
No county tax record split for property tax, insurance rate and the land/building split, so those use market defaults — edit the price above; 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
$497,000
Short-life (5/15-yr)
$102,000 · 21%
Year-1 deduction
$122,000
Year-1 tax shield @ 32%
$39,000
Land 15% (market default, no usable tax-record split) · building $395,000 over 39 years · new furniture $20,000
Based on: ~1,900 sq ft (from beds), built 1950, 3 bd / 1 ba, unfurnished, listing features (flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $88,000 in year 1 (14% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $13,400
Kitchen cabinetsdefault
$10,000 new × 40% good × 3.36 allocation
- $11,000
Kitchen countertopsdefault
$8,200 new × 40% good × 3.36 allocation
- $4,500
Decorative trimdefault
$3,300 new × 40% good × 3.36 allocation
- $200
Mirrorsdefault
$200 new × 40% good × 3.36 allocation
- $1,600
Shelvingdefault
$1,200 new × 40% good × 3.36 allocation
- $6,400
Window coverings (19)default
$4,800 new × 40% good × 3.36 allocation
- $5,500
Carpet, vinyl & laminate (33% of floors)listing
$4,100 new × 40% good × 3.36 allocation
- $10,400
Kitchen & laundry equipment plumbingdefault
$7,800 new × 40% good × 3.36 allocation
- $6,300
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 40% good × 3.36 allocation
- $6,700
Appliances (range, dishwasher, refrigerator)listing
$5,000 new × 40% good × 3.36 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $15,200
Paving: driveway & walks (paved)default
$9,000 new × 50% good × 3.36 allocation
- $14,600
Landscaping (typical)default
$8,700 new × 50% good × 3.36 allocation
- $3,200
Patiosdefault
$1,900 new × 50% good × 3.36 allocation
- $3,200
Decks & porches (attached)default
$1,900 new × 50% good × 3.36 allocation
- $277,600
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$206,300 new × 40% good × 3.36 allocation
- $28,800
Building plumbing & fixturesdefault
$21,400 new × 40% good × 3.36 allocation
- $28,700
Building electrical & lightingdefault
$21,400 new × 40% good × 3.36 allocation
- $28,800
HVACdefault
$21,400 new × 40% good × 3.36 allocation
- $11,000
Hardwood & tile floorsdefault
$8,200 new × 40% good × 3.36 allocation
- $20,200
Septic systemlisting
$12,000 new × 50% good × 3.36 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $85,500 | $36,100 | $400 | $122,100 |
| 2 | $0 | $0 | $10,100 | $10,100 |
| 3 | $0 | $0 | $10,100 | $10,100 |
| 4 | $0 | $0 | $10,100 | $10,100 |
| 5 | $0 | $0 | $10,100 | $10,100 |
| 6+ | $0 | $0 | $354,100 | $354,100 |
| Total | $85,500 | $36,100 | $395,100 | $516,800 |
The building's share of the price ($497,000) is 3.4x our depreciated replacement cost of the home ($148,000). 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.