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Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium

56953 Mills Rd

56953 Mills Rd

South Bloomingville, OH 43152

$355,000

2 bd · 1 ba · 1,000 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceEst. land %Negative cash flow

Year built

2006

Sqft

1,000

Lot sqft

720,047

HOA / mo

$0

Furnished

No

List date

2026-10-27T20:15:25.000000Z

Revenue

Annual revenue

$29,625

ADR

$245

Occupancy

33%

Cleaning fees (12 mo)

$5,914

Confidence

Low (49.38), 7 comps

Comp revenue range (p25 / median / p75)

$17,943$23,442$38,085

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $23,442

  • Ranch retreat in the heart of Hocking Hills

    Cottage · 3 bd · 2 ba · sleeps 6 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $20,106ADR $235Occ ≈ 23%4.8★ (62)

    AirbnbVrbo

  • Charming cabin, outdoor shower + hottub

    Cabin · 1 bd · 1 ba · sleeps 2 · 0.5 mi

    Revenue $15,780ADR $194Occ ≈ 22%4.5★ (9)

    Delisted

  • Geodome Lounge, DogFriendly Cabin in Hocking Hills

    Cabin · 2 bd · 2 ba · sleeps 4 · 0.5 mi

    Revenue $47,530ADR $277Occ ≈ 47%4.9★ (136)

    AirbnbVrboBooking

  • Boho Cabin w/ Hot Tub. Private & Cozy Escape

    Cabin · 2 bd · 2 ba · sleeps 6 · 0.5 mi

    Revenue $42,092ADR $335Occ ≈ 34%5★ (9)

    Vrbo

  • Charming whimsical cabin, outdoor shower + hottub

    Cabin · 1 bd · 1 ba · sleeps 2 · 0.6 mi

    • Hot tub
    • Free parking
    • Pets OK
    • Wifi
    • +1

    Revenue $34,077ADR $245Occ ≈ 38%4.7★ (111)

    AirbnbVrboBooking

  • Charming whimsical cabin, outdoor shower hottub

    Cabin · 1 bd · 1 ba · sleeps 2 · 0.6 mi

    Revenue $10,061ADR $304Occ ≈ 9%5★ (2)

    Delisted

  • 7 Mi to Hocking Hills State Park: Family Home!

    Cabin · 2 bd · 1 ba · sleeps 5 · 0.6 mi

    • A/C
    • Free parking
    • Pets OK
    • Wifi
    • +1

    Revenue $23,442ADR $245Occ ≈ 26%4.2★ (36)

    AirbnbVrboBooking

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

Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium

Est. revenue

$29,625

NOI

$13,063

Cash flow /mo

-$878

Cash needed

$118,950

Cash-on-cash

-8.9%

ROE (yr 1)

1.9%

Cap rate

3.7%

DSCR

0.55

Year-1 write-off

$77,783

Year-1 tax shield @ 32%

$24,890

Year-1 return on equity

  • Cash flow (annual)-$10,537
  • Principal paydown$2,193
  • Appreciation at%$10,650
ROE1.9%

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)$5,925
  • Platform fees (3% of revenue)$889
  • Maintenance / capex (5% of revenue)$1,481
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,032
  • Insurance (STR-rated)$3,035

Cash needed to close

  • Down payment (25%)$88,750
  • Closing costs (4.0%)$14,200
  • Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$24,890

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

$284,000

Short-life (5/15-yr)

$62,000 · 22%

Year-1 deduction

$78,000

Year-1 tax shield @ 32%

$25,000

Land 20% (market default, no usable tax-record split) · building $222,000 over 39 years · new furniture $16,000

Based on: 1,000 sq ft, built 2006, 2 bd / 1 ba, unfurnished, listing features (deck, appliance list, septic, wooded lot).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $49,000 in year 1 (12% short-life, $16,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$52,300

  • Kitchen cabinetsdefault

    $8,000 new × 40% good × 2.30 allocation

    $7,300

  • Kitchen countertopsdefault

    $6,500 new × 40% good × 2.30 allocation

    $6,000

  • Decorative trimdefault

    $1,800 new × 40% good × 2.30 allocation

    $1,600

  • Mirrorsdefault

    $200 new × 40% good × 2.30 allocation

    $100

  • Shelvingdefault

    $900 new × 40% good × 2.30 allocation

    $800

  • Window coverings (10)default

    $2,500 new × 40% good × 2.30 allocation

    $2,300

  • Carpet, vinyl & laminate (40% of floors)default

    $2,600 new × 40% good × 2.30 allocation

    $2,400

  • Kitchen & laundry equipment plumbingdefault

    $6,200 new × 60% good × 2.30 allocation

    $8,600

  • Kitchen, laundry & data equipment electricaldefault

    $3,800 new × 60% good × 2.30 allocation

    $5,200

  • Appliances (refrigerator)listing

    $2,200 new × 40% good × 2.30 allocation

    $2,000

  • Furniture bought newlisting

    $16,000 new × 100% good · bought separately

    $16,000
15-year land improvements$25,200

  • Paving: driveway & walks (paved)default

    $6,600 new × 50% good × 2.30 allocation

    $7,500

  • Landscaping (minimal)listing

    $3,200 new × 50% good × 2.30 allocation

    $3,600

  • Patiosdefault

    $1,000 new × 50% good × 2.30 allocation

    $1,100

  • Decks & porches (attached)listing

    $11,300 new × 50% good × 2.30 allocation

    $12,900
Building, 39-year$222,500

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $108,200 new × 67% good × 2.30 allocation

    $165,700

  • Building plumbing & fixturesdefault

    $11,200 new × 60% good × 2.30 allocation

    $15,400

  • Building electrical & lightingdefault

    $9,900 new × 60% good × 2.30 allocation

    $13,700

  • HVACdefault

    $11,300 new × 40% good × 2.30 allocation

    $10,300

  • Hardwood & tile floorsdefault

    $3,900 new × 40% good × 2.30 allocation

    $3,500

  • Septic systemlisting

    $12,000 new × 50% good × 2.30 allocation

    $13,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$52,300$25,200$200$77,800
2$0$0$5,700$5,700
3$0$0$5,700$5,700
4$0$0$5,700$5,700
5$0$0$5,700$5,700
6+$0$0$199,400$199,400
Total$52,300$25,200$222,500$300,000

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: 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

Hocking County STR ordinance pending (annual permit, inspection, $1M liability insurance, driveway standards). Steep/gravel driveways are a cost risk.