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13950 Nickel Plate Rd

13950 Nickel Plate Rd

Logan, OH 43138

$889,000

6 bd · 3.5 ba · 3,416 sqft · Listed 3d ago

View on Realtor.com →
Low confidenceEst. land %

Year built

2024

Sqft

3,416

Lot sqft

807,167

HOA / mo

None

Furnished

No

List date

2026-09-24T18:24:51Z

Revenue

Annual revenue

$77,069

ADR

$542

Occupancy

39%

Cleaning fees (12 mo)

$6,398

Confidence

Low (6.52), 6 comps

Comp revenue range (p25 / median / p75)

$21,097$68,211$108,365

  • Cospetto - Lovely Log Lodge in the Hocking Hills

    5 bd · 3 ba · sleeps 12 · 0.9 mi

    Revenue —ADR $581Occ ≈ —4.5★ (38)

    AirbnbVrbo

  • Big Sky Lodge - by The Chalets

    5 bd · 3 ba · sleeps 18 · 1.2 mi

    Revenue —ADR $1,089Occ ≈ ——

    —

  • Hocking Hills Retreat

    5 bd · 4.5 ba · sleeps 16 · 1.3 mi

    Revenue —ADR $972Occ ≈ —4.8★ (98)

    AirbnbVrbo

  • Scenic Views Parkview w/ Hot Tub, Games Spacious

    5 bd · 3 ba · sleeps 12 · 1.4 mi

    Revenue —ADR $452Occ ≈ —4.5★ (151)

    AirbnbVrbo

  • Hilltop Hideaway w/ 5 bdrms, Gameroom & Hot Tub

    5 bd · 3 ba · sleeps 16 · 1.4 mi

    Revenue —ADR $594Occ ≈ —4.9★ (43)

    AirbnbVrbo

  • Scenic Views Parkview w/ Hot Tub, Games Spacious

    5 bd · 3 ba · sleeps 12 · 1.5 mi

    Revenue —ADR $374Occ ≈ ——

    Vrbo

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

$77,069

NOI

$38,098

Cash flow /mo

$3,175

Cash needed

$954,560

Cash-on-cash (all cash)

4.0%

ROE (yr 1)

6.8%

Cap rate

4.3%

DSCR

—

Year-1 write-off

$157,809

Year-1 tax shield @ 32%

$50,499

Year-1 return on equity

  • Cash flow (annual)$38,098
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$26,670
ROE6.8%
ROE incl. year-1 tax savings (32% bracket, STR loophole)12.1%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$15,414
  • Platform fees (3% of revenue)$2,312
  • Maintenance / capex (5% of revenue)$3,853
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$5,991
  • Insurance (STR-rated)$7,201

Cash needed to close

  • Purchase price (all cash)$889,000
  • Closing costs (4.0%)$35,560
  • Furnishing (bought new)$30,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$50,499

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

$711,000

Short-life (5/15-yr)

$126,000 · 18%

Year-1 deduction

$158,000

Year-1 tax shield @ 32%

$50,000

Land 20% (market default, no usable tax-record split) · building $585,000 over 39 years · new furniture $30,000

Based on: 3,416 sq ft, built 2024, 6 bd / 3.5 ba, unfurnished, listing features (patio, septic).

IRS-guide safe-harbor floor: $119,000 in year 1 (12% short-life, $38,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$109,500

  • Kitchen cabinetsdefault

    $13,300 new × 92% good × 1.19 allocation

    $14,500

  • Kitchen countertopsdefault

    $10,900 new × 92% good × 1.19 allocation

    $11,900

  • Decorative trimdefault

    $6,000 new × 92% good × 1.19 allocation

    $6,500

  • Mirrorsdefault

    $500 new × 83% good × 1.19 allocation

    $400

  • Shelvingdefault

    $2,100 new × 92% good × 1.19 allocation

    $2,300

  • Window coverings (34)default

    $8,500 new × 80% good × 1.19 allocation

    $8,100

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

    $8,800 new × 83% good × 1.19 allocation

    $8,700

  • Kitchen & laundry equipment plumbingdefault

    $10,300 new × 96% good × 1.19 allocation

    $11,800

  • Kitchen, laundry & data equipment electricaldefault

    $6,200 new × 96% good × 1.19 allocation

    $7,100

  • Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default

    $8,100 new × 83% good × 1.19 allocation

    $8,000

  • Furniture bought newlisting

    $30,000 new × 100% good · bought separately

    $30,000
15-year land improvements$46,400

  • Paving: driveway & walks (paved)default

    $12,100 new × 92% good × 1.19 allocation

    $13,300

  • Landscaping (typical)default

    $11,700 new × 92% good × 1.19 allocation

    $12,800

  • Patioslisting

    $15,400 new × 92% good × 1.19 allocation

    $16,800

  • Decks & porches (attached)default

    $3,400 new × 90% good × 1.19 allocation

    $3,600
Building, 39-year$585,300

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

    $370,700 new × 97% good × 1.19 allocation

    $426,200

  • Building plumbing & fixturesdefault

    $38,500 new × 96% good × 1.19 allocation

    $44,000

  • Building electrical & lightingdefault

    $40,600 new × 96% good × 1.19 allocation

    $46,300

  • HVACdefault

    $38,500 new × 90% good × 1.19 allocation

    $41,200

  • Hardwood & tile floorsdefault

    $13,200 new × 92% good × 1.19 allocation

    $14,400

  • Septic systemlisting

    $12,000 new × 92% good × 1.19 allocation

    $13,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$109,500$46,400$1,900$157,800
2$0$0$15,000$15,000
3$0$0$15,000$15,000
4$0$0$15,000$15,000
5$0$0$15,000$15,000
6+$0$0$523,400$523,400
Total$109,500$46,400$585,300$741,200

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

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