1275 Marie Dr

Ellijay, GA 30540

$487,777

2 bd · 2.5 ba · 1,321 sqft · Listed 16d ago

View on Realtor.com →

Rental historyLow confidenceEst. land %Negative cash flow

Year built

2023

Sqft

1,321

Lot sqft

78,844

HOA / mo

$75

Furnished

List date

2026-09-11T21:33:08.000000Z

Revenue

Annual revenue

$16,486

ADR

$191

Occupancy

24%

Cleaning fees (12 mo)

$4,761

Confidence

Low (28.97), 5 comps

Comp revenue range (p25 / median / p75)

$7,280$25,007$33,298

Dream Ridge | Ellijay, GA
Cabin · 2 bd · 2 ba · sleeps 4 · 184 ft
Revenue $7,280ADR $328Occ ≈ 6%4.7★ (9)
Airbnb
Downtown Bungalow | Walking Distance to Downtown
House · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $33,298ADR $204Occ ≈ 45%4.8★ (96)
Airbnb Vrbo
Cozy Ellijay A-Frame Feel • 2BR/2BA • Fireplace, Games, Porch & Fire Pit
House · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $4,538ADR $216Occ ≈ 6%—
Vrbo
In Town. Hot Tub, Loft, Minutes to wineries
Cabin · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $39,814ADR $202Occ ≈ 54%4.9★ (116)
Airbnb Vrbo
Cozy Cabin•Hot Tub•Walk to Downtown
Cabin · 2 bd · 2 ba · sleeps 4 · 0.6 mi
Revenue $25,007ADR $221Occ ≈ 31%5★ (29)
Airbnb Vrbo Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Dream Ridge \| Ellijay, GA Cabin	2 bd · 2 ba · sleeps 4	$7,280	$328	6%	4.7★ (9)	184 ft	Airbnb
Downtown Bungalow \| Walking Distance to Downtown House	2 bd · 2 ba · sleeps 4	$33,298	$204	45%	4.8★ (96)	0.2 mi	Airbnb Vrbo
Cozy Ellijay A-Frame Feel • 2BR/2BA • Fireplace, Games, Porch & Fire Pit House	2 bd · 2 ba · sleeps 4	$4,538	$216	6%	—	0.3 mi	Vrbo
In Town. Hot Tub, Loft, Minutes to wineries Cabin	2 bd · 2 ba · sleeps 4	$39,814	$202	54%	4.9★ (116)	0.3 mi	Airbnb Vrbo
Cozy Cabin•Hot Tub•Walk to Downtown Cabin	2 bd · 2 ba · sleeps 4	$25,007	$221	31%	5★ (29)	0.6 mi	Airbnb Vrbo Booking

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

Purchase priceAlready furnishedTax bracket

Est. revenue

$16,486

NOI

-$920

Cash flow /mo

-$77

Cash needed

$529,288

Cash-on-cash (all cash)

-0.2%

ROE (yr 1)

2.6%

Cap rate

-0.2%

DSCR

—

Year-1 write-off

$138,859

Year-1 tax shield @ 32%

$44,435

Year-1 return on equity

Cash flow (annual)-$920
Principal paydown (n/a, cash)$0
Appreciation at%$14,633

ROE2.6%

ROE incl. year-1 tax savings (32% bracket, STR loophole)11.0%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$3,297
Platform fees (3% of revenue)$495
Maintenance / capex (5% of revenue)$824
Utilities & supplies$4,200
HOA$900
Property tax$2,422
Insurance (STR-rated)$5,268

Cash needed to close

Purchase price (all cash)$487,777
Closing costs (4.0%)$19,511
Furnishing (bought new)$22,000

Tax savings if the STR loophole applies

Tax shield @ 32%$44,435

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

$415,000

Short-life (5/15-yr)

$116,000 · 28%

Year-1 deduction

$139,000

Year-1 tax shield @ 32%

$44,000

Land 15% (market default, no usable tax-record split) · building $299,000 over 39 years · new furniture $22,000

Based on: 1,321 sq ft, built 2023, 2 bd / 2.5 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $92,000 in year 1 (17% short-life, $29,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$95,500

Kitchen cabinetsdefault
$8,700 new × 88% good × 1.58 allocation
$12,100
Kitchen countertopsdefault
$7,100 new × 88% good × 1.58 allocation
$9,900
Decorative trimdefault
$2,300 new × 88% good × 1.58 allocation
$3,200
Mirrorsdefault
$300 new × 75% good × 1.58 allocation
$400
Shelvingdefault
$900 new × 88% good × 1.58 allocation
$1,300
Window coverings (13)default
$3,300 new × 70% good × 1.58 allocation
$3,600
Carpet, vinyl & laminate (100% of floors)listing
$8,500 new × 75% good × 1.58 allocation
$10,100
Kitchen & laundry equipment plumbingdefault
$6,800 new × 94% good × 1.58 allocation
$10,100
Kitchen, laundry & data equipment electricaldefault
$4,100 new × 94% good × 1.58 allocation
$6,100
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 75% good × 1.58 allocation
$6,800
Hot tub (freestanding)listing
$9,000 new × 70% good × 1.58 allocation
$10,000
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$42,400

Paving: driveway & walks (paved)default
$7,500 new × 88% good × 1.58 allocation
$10,500
Landscaping (typical)default
$7,200 new × 88% good × 1.58 allocation
$10,100
Patiosdefault
$1,300 new × 88% good × 1.58 allocation
$1,800
Decks & porches (attached)listing
$14,900 new × 85% good × 1.58 allocation
$20,000

Building, 39-year$298,700

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$143,100 new × 95% good × 1.58 allocation
$215,400
Building plumbing & fixturesdefault
$14,800 new × 94% good × 1.58 allocation
$22,100
Building electrical & lightingdefault
$14,000 new × 94% good × 1.58 allocation
$20,900
HVACdefault
$14,900 new × 85% good × 1.58 allocation
$20,000
Fireplacelisting
$2,600 new × 88% good × 1.58 allocation
$3,700
Septic systemlisting
$12,000 new × 88% good × 1.58 allocation
$16,700

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	$95,500	$42,400	$1,000	$138,900
2	$0	$0	$7,700	$7,700
3	$0	$0	$7,700	$7,700
4	$0	$0	$7,700	$7,700
5	$0	$0	$7,700	$7,700
6+	$0	$0	$267,100	$267,100
Total	$95,500	$42,400	$298,700	$436,600

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.