Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

103 Pinecrest Dr

Ellijay, GA 30540

$299,900

2 bd · 1 ba · 960 sqft · Listed 8d ago

View on Realtor.com →

Est. land %Negative cash flow

Year built

1989

Sqft

960

Lot sqft

101,059

HOA / mo

None

Furnished

List date

2026-09-19T12:25:47.000000Z

Revenue

Annual revenue

$33,278

ADR

$175

Occupancy

52%

Cleaning fees (12 mo)

$5,992

Confidence

Low (44.75), 16 comps

Comp revenue range (p25 / median / p75)

$19,903$28,778$37,913

Coos Moose
House · 3 bd · 2 ba · sleeps 9 · 0.2 mi
Revenue $14,132ADR $186Occ ≈ 21%—
Airbnb Booking
MTN Views | Hot Tub | Games | Dog Friendly
House · 3 bd · 2 ba · sleeps 7 · 0.4 mi
Revenue $30,790ADR $199Occ ≈ 42%5★ (17)
Airbnb Vrbo Booking
Woodglen Hideaway
Cabin · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $35,383ADR $242Occ ≈ 40%5★ (24)
Airbnb Vrbo
Nature Views| Cozy Cabin | King Bed
Apartment · 1 bd · 1 ba · sleeps 3 · 0.4 mi
Revenue $26,123ADR $110Occ ≈ 65%5★ (149)
Airbnb Vrbo Booking
Cozy Creek Cabin-couples retreat nestled in woods
Cabin · 1 bd · 1.5 ba · sleeps 4 · 0.4 mi
Revenue $53,601ADR $185Occ ≈ 79%5★ (448)
Airbnb
Modern cabin retreat in Coosawattee river resort
Cabin · 3 bd · 2 ba · sleeps 7 · 0.5 mi
Revenue $44,241ADR $265Occ ≈ 46%5★ (30)
Airbnb Vrbo
Storybook Cabin-Hot Tub, Fire Pit & Tree Top Views
Cabin · 2 bd · 1.5 ba · sleeps 4 · 0.5 mi
Revenue $41,422ADR $197Occ ≈ 58%5★ (81)
Airbnb Vrbo
Dog-Friendly Home with Stunning Mountain Views & Cozy Outdoor Escape
Cabin · 1 bd · 1 ba · sleeps 2 · 0.5 mi
Revenue $20,282ADR $132Occ ≈ 42%4.9★ (23)
Vrbo
Sweet Tea Retreat, Ellijay
Cabin · 3 bd · 2 ba · sleeps 6 · 0.5 mi
Revenue $20,042ADR $249Occ ≈ 22%4.9★ (47)
Airbnb Vrbo
Rippling Streams, Remodeled Rooms, Great Amenities
Guest suite · 1 bd · 1 ba · sleeps 2 · 0.5 mi
Revenue $1,975ADR $103Occ ≈ 5%5★ (2)
Airbnb Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Coos Moose House	3 bd · 2 ba · sleeps 9	$14,132	$186	21%	—	0.2 mi	Airbnb Booking
MTN Views \| Hot Tub \| Games \| Dog Friendly House	3 bd · 2 ba · sleeps 7	$30,790	$199	42%	5★ (17)	0.4 mi	Airbnb Vrbo Booking
Woodglen Hideaway Cabin	2 bd · 2 ba · sleeps 6	$35,383	$242	40%	5★ (24)	0.4 mi	Airbnb Vrbo
Nature Views\| Cozy Cabin \| King Bed Apartment	1 bd · 1 ba · sleeps 3	$26,123	$110	65%	5★ (149)	0.4 mi	Airbnb Vrbo Booking
Cozy Creek Cabin-couples retreat nestled in woods Cabin	1 bd · 1.5 ba · sleeps 4	$53,601	$185	79%	5★ (448)	0.4 mi	Airbnb
Modern cabin retreat in Coosawattee river resort Cabin	3 bd · 2 ba · sleeps 7	$44,241	$265	46%	5★ (30)	0.5 mi	Airbnb Vrbo
Storybook Cabin-Hot Tub, Fire Pit & Tree Top Views Cabin	2 bd · 1.5 ba · sleeps 4	$41,422	$197	58%	5★ (81)	0.5 mi	Airbnb Vrbo
Dog-Friendly Home with Stunning Mountain Views & Cozy Outdoor Escape Cabin	1 bd · 1 ba · sleeps 2	$20,282	$132	42%	4.9★ (23)	0.5 mi	Vrbo
Sweet Tea Retreat, Ellijay Cabin	3 bd · 2 ba · sleeps 6	$20,042	$249	22%	4.9★ (47)	0.5 mi	Airbnb Vrbo
Rippling Streams, Remodeled Rooms, Great Amenities Guest suite	1 bd · 1 ba · sleeps 2	$1,975	$103	5%	5★ (2)	0.5 mi	Airbnb Booking

Show all 16 comps

View for Two Retreat
Cabin · 1 bd · 1 ba · sleeps 2 · 0.6 mi
Revenue $2,658ADR $126Occ ≈ 6%4.5★ (23)
Airbnb
Ellijay Retreat w/ Access to Community Pools!
House · 3 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $34,449ADR $203Occ ≈ 46%5★ (14)
Airbnb Vrbo Booking
Couples Retreat-Jacuzzi-Fireplace-Resort Amenities
Cabin · 2 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $58,340ADR $304Occ ≈ 53%5★ (29)
Airbnb Vrbo
Resort cabin, close to gate, hot tub, fenced yard
Cabin · 3 bd · 2 ba · sleeps 7 · 0.7 mi
Revenue $36,743ADR $271Occ ≈ 37%4.9★ (179)
Airbnb Vrbo
Sweet Tea Retreat up on the hill in Cossawattee River Resort Ellijay
House · 3 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $19,485ADR $262Occ ≈ 20%4★ (1)
Vrbo
Frank's Cabin
House · 2 bd · 2 ba · sleeps 4 · 0.8 mi
Revenue $26,766ADR $123Occ ≈ 60%5★ (45)
Airbnb

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
View for Two Retreat Cabin	1 bd · 1 ba · sleeps 2	$2,658	$126	6%	4.5★ (23)	0.6 mi	Airbnb
Ellijay Retreat w/ Access to Community Pools! House	3 bd · 2 ba · sleeps 6	$34,449	$203	46%	5★ (14)	0.6 mi	Airbnb Vrbo Booking
Couples Retreat-Jacuzzi-Fireplace-Resort Amenities Cabin	2 bd · 2 ba · sleeps 6	$58,340	$304	53%	5★ (29)	0.6 mi	Airbnb Vrbo
Resort cabin, close to gate, hot tub, fenced yard Cabin	3 bd · 2 ba · sleeps 7	$36,743	$271	37%	4.9★ (179)	0.7 mi	Airbnb Vrbo
Sweet Tea Retreat up on the hill in Cossawattee River Resort Ellijay House	3 bd · 2 ba · sleeps 6	$19,485	$262	20%	4★ (1)	0.7 mi	Vrbo
Frank's Cabin House	2 bd · 2 ba · sleeps 4	$26,766	$123	60%	5★ (45)	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

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracket

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$33,278

NOI

$15,198

Cash flow /mo

-$350

Cash needed

$108,971

Cash-on-cash

-3.8%

ROE (yr 1)

6.2%

Cap rate

5.1%

DSCR

0.78

Year-1 write-off

$97,912

Year-1 tax shield @ 32%

$31,332

Year-1 return on equity

Cash flow (annual)-$4,194
Principal paydown$1,963
Appreciation at%$8,997

ROE6.2%

ROE incl. year-1 tax savings (32% bracket, STR loophole)35.0%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$6,656
Platform fees (3% of revenue)$998
Maintenance / capex (5% of revenue)$1,664
Utilities & supplies$4,200
HOA$0
Property tax$1,323
Insurance (STR-rated)$3,239

Cash needed to close

Down payment (25%)$74,975
Closing costs (4.0%)$11,996
Furnishing (bought new)$22,000

Tax savings if the STR loophole applies

Tax shield @ 32%$31,332

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

$255,000

Short-life (5/15-yr)

$75,000 · 30%

Year-1 deduction

$98,000

Year-1 tax shield @ 32%

$31,000

Land 15% (market default, no usable tax-record split) · building $180,000 over 39 years · new furniture $22,000

Based on: 960 sq ft, built 1989, 2 bd / 1 ba, unfurnished, listing features (deck, game room, fireplace, appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $63,000 in year 1 (16% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$66,800

Kitchen cabinetsdefault
$7,900 new × 40% good × 2.87 allocation
$9,100
Kitchen countertopsdefault
$6,500 new × 40% good × 2.87 allocation
$7,400
Decorative trimdefault
$1,700 new × 40% good × 2.87 allocation
$1,900
Mirrorsdefault
$200 new × 40% good × 2.87 allocation
$200
Shelvingdefault
$900 new × 40% good × 2.87 allocation
$1,000
Window coverings (10)default
$2,500 new × 40% good × 2.87 allocation
$2,900
Carpet, vinyl & laminate (40% of floors)default
$2,500 new × 40% good × 2.87 allocation
$2,800
Kitchen & laundry equipment plumbingdefault
$6,200 new × 40% good × 2.87 allocation
$7,100
Kitchen, laundry & data equipment electricaldefault
$3,700 new × 40% good × 2.87 allocation
$4,300
Appliances (range, dishwasher, refrigerator, washer, dryer)listing
$7,000 new × 40% good × 2.87 allocation
$8,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
$16,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
$6,000

15-year land improvements$30,600

Paving: driveway & walks (paved)default
$6,400 new × 50% good × 2.87 allocation
$9,200
Landscaping (minimal)listing
$3,100 new × 50% good × 2.87 allocation
$4,400
Patiosdefault
$900 new × 50% good × 2.87 allocation
$1,400
Decks & porches (attached)listing
$10,800 new × 50% good × 2.87 allocation
$15,500

Building, 39-year$179,600

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$103,800 new × 40% good × 2.87 allocation
$119,400
Building plumbing & fixturesdefault
$10,700 new × 40% good × 2.87 allocation
$12,300
Building electrical & lightingdefault
$9,400 new × 40% good × 2.87 allocation
$10,900
HVACdefault
$10,800 new × 40% good × 2.87 allocation
$12,400
Hardwood & tile floorsdefault
$3,700 new × 40% good × 2.87 allocation
$4,300
Fireplacelisting
$2,600 new × 40% good × 2.87 allocation
$3,000
Septic systemlisting
$12,000 new × 50% good × 2.87 allocation
$17,200

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	$66,800	$30,600	$600	$97,900
2	$0	$0	$4,600	$4,600
3	$0	$0	$4,600	$4,600
4	$0	$0	$4,600	$4,600
5	$0	$0	$4,600	$4,600
6+	$0	$0	$160,600	$160,600
Total	$66,800	$30,600	$179,600	$276,900

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.