STR Yield
← Back to deals
MortgageCash
23951 Brown Rd

23951 Brown Rd

South Bloomingville, OH 43152

$950,000

4 bd · 3 ba · 2,352 sqft · Listed 1d ago

View on Realtor.com →
Low confidence

Year built

2024

Sqft

2,352

Lot sqft

258,311

HOA / mo

$0

Furnished

No

List date

2026-10-15T20:42:26.000000Z

Revenue

Annual revenue

$46,667

ADR

$327

Occupancy

39%

Cleaning fees (12 mo)

$7,234

Confidence

Low (24.73), 6 comps

Comp revenue range (p25 / median / p75)

$78,918$90,273$91,868

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

Median revenue of shown comps: $84,596

  • Onyx Ridge | Private Hiking

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.1 mi

    Revenue $0ADR $0Occ ≈ —5★ (1)

    Delisted

  • On The Rocks | Hocking Hills, 4BR, Hot Tub

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.5 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +2

    Revenue $78,918ADR $508Occ ≈ 43%4.9★ (50)

    AirbnbVrbo

  • On The Rocks | Private Hiking | Brand New

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.5 mi

    Revenue $5,163ADR $516Occ ≈ 3%—

    Delisted

  • Ash Cave lodge by Inn & Spa at Cedar Falls

    Cabin · 5 bd · 3.5 ba · sleeps 12 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $91,868ADR $878Occ ≈ 29%4.8★ (54)

    AirbnbVrbo

  • Onyx Ridge | Private Hiking | Brand New

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +2

    Revenue $90,273ADR $458Occ ≈ 54%5★ (56)

    AirbnbVrbo

  • 5 Min To Ash Cave | Hot Tub | 3 Private Bedrooms

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +5

    Revenue $102,794ADR $521Occ ≈ 54%5★ (59)

    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

Financing
Management

Est. revenue

$46,667

NOI

$17,434

Cash flow /mo

$1,453

Cash needed

$1,011,000

Cash-on-cash (all cash)

1.7%

ROE (yr 1)

4.5%

Cap rate

1.8%

DSCR

—

Year-1 write-off

$216,096

Year-1 tax shield @ 32%

$69,151

Year-1 return on equity

  • Cash flow (annual)$17,434
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$28,500
ROE4.5%

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)$9,333
  • Platform fees (3% of revenue)$1,400
  • Maintenance / capex (5% of revenue)$2,333
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$4,271
  • Insurance (STR-rated)$7,695

Cash needed to close

  • Purchase price (all cash)$950,000
  • Closing costs (4.0%)$38,000
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$69,151

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

$768,000

Short-life (5/15-yr)

$192,000 · 25%

Year-1 deduction

$216,000

Year-1 tax shield @ 32%

$69,000

Land 19% (county tax record, market value split) · building $576,000 over 39 years · new furniture $23,000

Based on: 2,352 sq ft, built 2024, 4 bd / 3 ba, unfurnished, listing features (hot tub, deck, patio, fireplace, flooring types, appliance list, septic, wooded lot).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $134,000 in year 1 (14% short-life, $43,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$134,400

  • Kitchen cabinetsdefault

    $11,000 new × 92% good × 1.72 allocation

    $17,300

  • Kitchen countertopsdefault

    $9,000 new × 92% good × 1.72 allocation

    $14,200

  • Decorative trimdefault

    $4,100 new × 92% good × 1.72 allocation

    $6,500

  • Mirrorsdefault

    $500 new × 83% good × 1.72 allocation

    $600

  • Shelvingdefault

    $1,500 new × 92% good × 1.72 allocation

    $2,400

  • Window coverings (24)default

    $6,000 new × 80% good × 1.72 allocation

    $8,200

  • Carpet, vinyl & laminate (100% of floors)listing

    $15,100 new × 83% good × 1.72 allocation

    $21,700

  • Kitchen & laundry equipment plumbingdefault

    $8,500 new × 96% good × 1.72 allocation

    $14,000

  • Kitchen, laundry & data equipment electricaldefault

    $5,200 new × 96% good × 1.72 allocation

    $8,500

  • Appliances (microwave, dishwasher, refrigerator)listing

    $3,900 new × 83% good × 1.72 allocation

    $5,600

  • Hot tub (freestanding)listing

    $9,000 new × 80% good × 1.72 allocation

    $12,400

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000
15-year land improvements$81,100

  • Paving: driveway & walks (paved)default

    $10,100 new × 92% good × 1.72 allocation

    $15,900

  • Landscaping (minimal)listing

    $4,800 new × 92% good × 1.72 allocation

    $7,600

  • Patioslisting

    $10,600 new × 92% good × 1.72 allocation

    $16,700

  • Decks & porches (attached)listing

    $26,500 new × 90% good × 1.72 allocation

    $40,900
Building, 39-year$575,600

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

    $255,000 new × 97% good × 1.72 allocation

    $423,300

  • Building plumbing & fixturesdefault

    $26,500 new × 96% good × 1.72 allocation

    $43,700

  • Building electrical & lightingdefault

    $27,100 new × 96% good × 1.72 allocation

    $44,600

  • HVACdefault

    $26,500 new × 90% good × 1.72 allocation

    $40,900

  • Fireplacelisting

    $2,600 new × 92% good × 1.72 allocation

    $4,200

  • Septic systemlisting

    $12,000 new × 92% good × 1.72 allocation

    $19,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$134,400$81,100$600$216,100
2$0$0$14,800$14,800
3$0$0$14,800$14,800
4$0$0$14,800$14,800
5$0$0$14,800$14,800
6+$0$0$516,000$516,000
Total$134,400$81,100$575,600$791,100

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.