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269 State St

269 State St

Blue Ridge, GA 30513

$899,900

4 bd · 3 ba · 3,098 sqft · Listed 10d ago

View on Realtor.com →
Low confidenceEst. land %

Year built

2026

Sqft

3,098

Lot sqft

20,909

HOA / mo

None

Furnished

No

List date

2026-09-17T11:24:00.000000Z

Revenue

Annual revenue

$77,768

ADR

$483

Occupancy

44%

Cleaning fees (12 mo)

$11,100

Confidence

Low (29.51), 10 comps

Comp revenue range (p25 / median / p75)

$30,870$59,292$119,198

  • Water's Edge 2 - Private pool & mountain views

    Cabin · 4 bd · 4 ba · sleeps 16 · 0.4 mi

    Revenue $48,400ADR $678Occ ≈ 20%5★ (7)

    Airbnb

  • The Trout House on the Toccoa

    Vacation home · 4 bd · 3 ba · sleeps 12 · 0.5 mi

    Revenue $5,948ADR $538Occ ≈ 3%—

    Booking

  • Southern Charm Suites | Downtown | Sleeps 10

    Guest suite · 4 bd · 4 ba · sleeps 10 · 0.5 mi

    Revenue $141,589ADR $438Occ ≈ 89%4.8★ (5)

    AirbnbVrboBooking

  • Meadow Creek Lodge at Blue Ridge, GA

    Cabin · 4 bd · 2.5 ba · sleeps 8 · 0.5 mi

    Revenue $27,179ADR $254Occ ≈ 29%5★ (42)

    Airbnb

  • Piney Cove - Waterfront on Lake Blue Ridge | Private Dock | Hot Tub

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.5 mi

    Revenue $137,313ADR $1,131Occ ≈ 33%4.9★ (12)

    Vrbo

  • Piney Cove

    Vacation home · 4 bd · 4 ba · sleeps 10 · 0.5 mi

    Revenue $127,636ADR $898Occ ≈ 39%—

    Booking

  • A Touch of Whimsy - Close to Town, Full of Fun

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

    Revenue $93,884ADR $553Occ ≈ 47%5★ (7)

    AirbnbVrbo

  • Mountain Cottage *King Beds* 5 mins to Lake BR

    Cabin · 4 bd · 2 ba · sleeps 8 · 0.7 mi

    Revenue $30,152ADR $320Occ ≈ 26%5★ (87)

    AirbnbVrbo

  • Amazing Mtn Views•Pet-Friendly•5 Min to D-town BR

    Cabin · 4 bd · 3 ba · sleeps 13 · 0.7 mi

    Revenue $33,024ADR $454Occ ≈ 20%5★ (12)

    AirbnbVrboBooking

  • Sunset in the Mountains - Blue Ridge, GA

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.7 mi

    Revenue $70,183ADR $386Occ ≈ 50%4.6★ (15)

    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

Est. revenue

$77,768

NOI

$35,370

Cash flow /mo

$2,947

Cash needed

$958,896

Cash-on-cash (all cash)

3.7%

ROE (yr 1)

6.5%

Cap rate

3.9%

DSCR

—

Year-1 write-off

$186,496

Year-1 tax shield @ 32%

$59,679

Year-1 return on equity

  • Cash flow (annual)$35,370
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$26,997
ROE6.5%
ROE incl. year-1 tax savings (32% bracket, STR loophole)12.7%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$15,554
  • Platform fees (3% of revenue)$2,333
  • Maintenance / capex (5% of revenue)$3,888
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$6,839
  • Insurance (STR-rated)$9,584

Cash needed to close

  • Purchase price (all cash)$899,900
  • Closing costs (4.0%)$35,996
  • Furnishing (bought new)$23,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$59,679

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

$765,000

Short-life (5/15-yr)

$162,000 · 21%

Year-1 deduction

$186,000

Year-1 tax shield @ 32%

$60,000

Land 15% (market default, no usable tax-record split) · building $603,000 over 39 years · new furniture $23,000

Based on: 3,098 sq ft, built 2026, 4 bd / 3 ba, unfurnished, listing features (deck, fireplace, stone counters, flooring types, appliance list).

IRS-guide safe-harbor floor: $100,000 in year 1 (10% short-life, $32,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$102,500

  • Kitchen cabinetsdefault

    $12,600 new × 100% good × 1.28 allocation

    $16,100

  • Kitchen countertops (stone)listing

    $12,900 new × 100% good × 1.28 allocation

    $16,500

  • Decorative trimdefault

    $5,400 new × 100% good × 1.28 allocation

    $6,900

  • Mirrorsdefault

    $500 new × 100% good × 1.28 allocation

    $600

  • Shelvingdefault

    $1,500 new × 100% good × 1.28 allocation

    $1,900

  • Window coverings (31)default

    $7,800 new × 100% good × 1.28 allocation

    $9,900

  • Kitchen & laundry equipment plumbingdefault

    $9,800 new × 100% good × 1.28 allocation

    $12,600

  • Kitchen, laundry & data equipment electricaldefault

    $5,900 new × 100% good × 1.28 allocation

    $7,600

  • Appliances (range, microwave, dishwasher, refrigerator)listing

    $5,700 new × 100% good × 1.28 allocation

    $7,300

  • Furniture bought newlisting

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

    $23,000
15-year land improvements$82,100

  • Paving: driveway & walks (paved)default

    $11,500 new × 100% good × 1.28 allocation

    $14,800

  • Landscaping (typical)default

    $11,100 new × 100% good × 1.28 allocation

    $14,200

  • Patiosdefault

    $3,100 new × 100% good × 1.28 allocation

    $3,900

  • Irrigationlisting

    $3,500 new × 100% good × 1.28 allocation

    $4,500

  • Decks & porches (attached)listing

    $34,900 new × 100% good × 1.28 allocation

    $44,700
Building, 39-year$603,400

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

    $336,600 new × 100% good × 1.28 allocation

    $431,300

  • Building plumbing & fixturesdefault

    $34,900 new × 100% good × 1.28 allocation

    $44,800

  • Building electrical & lightingdefault

    $36,500 new × 100% good × 1.28 allocation

    $46,800

  • HVACdefault

    $34,900 new × 100% good × 1.28 allocation

    $44,700

  • Hardwood & tile floorsdefault

    $19,900 new × 100% good × 1.28 allocation

    $25,600

  • Fireplaces (3)listing

    $7,900 new × 100% good × 1.28 allocation

    $10,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$102,500$82,100$1,900$186,500
2$0$0$15,500$15,500
3$0$0$15,500$15,500
4$0$0$15,500$15,500
5$0$0$15,500$15,500
6+$0$0$539,500$539,500
Total$102,500$82,100$603,400$787,900

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.