Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

610 E Second St

Blue Ridge, GA 30513

$749,900

2 bd · 2.5 ba · Listed 26d ago

View on Realtor.com →

Negative cash flow

Year built

2021

Sqft

—

Lot sqft

5,227

HOA / mo

None

Furnished

Yes

List date

2026-09-01T21:12:13.000000Z

Revenue

Annual revenue

$55,309

ADR

$272

Occupancy

56%

Cleaning fees (12 mo)

$10,795

Confidence

Med (60.69), 22 comps

Comp revenue range (p25 / median / p75)

$36,204$55,808$62,015

Martini Mountain Downtown Loft
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 479 ft
Revenue $12,917ADR $269Occ ≈ 13%5★ (8)
Airbnb
Middle of Main Street LOFT Downtown Blue Ridge
Cottage · 2 bd · 2 ba · sleeps 4 · 505 ft
Revenue $30,543ADR $238Occ ≈ 35%5★ (38)
Airbnb Vrbo
Luxe Loft in DT BlueRidge Near Shops w/ EV Charger
Loft · 2 bd · 2 ba · sleeps 4 · 0.1 mi
Revenue $77,660ADR $370Occ ≈ 58%5★ (253)
Airbnb Vrbo Booking
Perch 2- DT Blue Ridge, Walk 2 Shops & Restaurants
Condominium (condo) · 2 bd · 2 ba · sleeps 5 · 0.1 mi
Revenue $62,330ADR $370Occ ≈ 46%4.8★ (30)
Airbnb Vrbo Booking
Downtown Digs - pet friendly 2/2 in downtown BR
House · 2 bd · 2 ba · sleeps 4 · 0.1 mi
Revenue $37,679ADR $262Occ ≈ 39%5★ (29)
Airbnb
Modern Rustic Loft Suite in Downtown Blue Ridge
Loft · 2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue $61,069ADR $215Occ ≈ 78%5★ (245)
Airbnb Vrbo Booking
Top floor condo overlooking historic Downtown Blue Ridge!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $53,522ADR $349Occ ≈ 42%5★ (158)
Vrbo
Martini Mountain Downtown Loft
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $11,915ADR $363Occ ≈ 9%5★ (1)
Vrbo
SHOP, DINE, UNWIND…All from a Downtown Penthouse!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $41,915ADR $336Occ ≈ 34%5★ (88)
Vrbo
Heart of Downtown| Lux Condo| Walk to Everything |
Apartment · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $65,967ADR $295Occ ≈ 61%5★ (177)
Airbnb Vrbo Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Martini Mountain Downtown Loft Condominium (condo)	2 bd · 2 ba · sleeps 4	$12,917	$269	13%	5★ (8)	479 ft	Airbnb
Middle of Main Street LOFT Downtown Blue Ridge Cottage	2 bd · 2 ba · sleeps 4	$30,543	$238	35%	5★ (38)	505 ft	Airbnb Vrbo
Luxe Loft in DT BlueRidge Near Shops w/ EV Charger Loft	2 bd · 2 ba · sleeps 4	$77,660	$370	58%	5★ (253)	0.1 mi	Airbnb Vrbo Booking
Perch 2- DT Blue Ridge, Walk 2 Shops & Restaurants Condominium (condo)	2 bd · 2 ba · sleeps 5	$62,330	$370	46%	4.8★ (30)	0.1 mi	Airbnb Vrbo Booking
Downtown Digs - pet friendly 2/2 in downtown BR House	2 bd · 2 ba · sleeps 4	$37,679	$262	39%	5★ (29)	0.1 mi	Airbnb
Modern Rustic Loft Suite in Downtown Blue Ridge Loft	2 bd · 2 ba · sleeps 6	$61,069	$215	78%	5★ (245)	0.2 mi	Airbnb Vrbo Booking
Top floor condo overlooking historic Downtown Blue Ridge! Condominium (condo)	2 bd · 2 ba · sleeps 4	$53,522	$349	42%	5★ (158)	0.2 mi	Vrbo
Martini Mountain Downtown Loft Condominium (condo)	2 bd · 2 ba · sleeps 4	$11,915	$363	9%	5★ (1)	0.2 mi	Vrbo
SHOP, DINE, UNWIND…All from a Downtown Penthouse! Condominium (condo)	2 bd · 2 ba · sleeps 4	$41,915	$336	34%	5★ (88)	0.2 mi	Vrbo
Heart of Downtown\| Lux Condo\| Walk to Everything \| Apartment	2 bd · 2 ba · sleeps 4	$65,967	$295	61%	5★ (177)	0.2 mi	Airbnb Vrbo Booking

Show all 22 comps

Perch 3- DT Blue Ridge Condo, King Beds, Balcony
Condominium (condo) · 2 bd · 2 ba · sleeps 5 · 0.2 mi
Revenue $56,644ADR $370Occ ≈ 42%4.7★ (32)
Airbnb Vrbo Booking
Runner's Roost|Hot Tub|Pool Table|Dogs Welcome
Cabin · 2 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue $55,609ADR $242Occ ≈ 63%5★ (217)
Airbnb Vrbo Booking
Postcard Perfect Downtown- Walk 2 Shops & Dining!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $54,230ADR $308Occ ≈ 48%4.9★ (20)
Airbnb Vrbo Booking
Charming 2BR Cottage in Downtown Blue Ridge
Cottage · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $32,942ADR $250Occ ≈ 36%5★ (152)
Airbnb Vrbo
DTBR - Summer Fun! Two King Beds, Dine, Shop!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $69,032ADR $266Occ ≈ 71%5★ (372)
Airbnb
Beautiful Condo in Downtown Blue Ridge!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
Revenue $58,751ADR $258Occ ≈ 62%5★ (349)
Airbnb Vrbo
Limelight Cottage, Walk to Downtown, No Mgmt Fees!
Cottage · 2 bd · 2.5 ba · sleeps 4 · 0.4 mi
Revenue $35,712ADR $262Occ ≈ 37%5★ (228)
Airbnb Vrbo
Firefly Farmhouse- River Front, Outdoor Fireplace
House · 2 bd · 2.5 ba · sleeps 6 · 0.5 mi
Revenue $60,869ADR $342Occ ≈ 49%5★ (21)
Airbnb Vrbo Booking
Treehouse Sauna + Hot Tub | Mountain Views
House · 2 bd · 2 ba · sleeps 6 · 0.5 mi
Revenue $81,457ADR $303Occ ≈ 74%5★ (106)
Airbnb
Eagles View - Blue Ridge
Cabin · 2 bd · 2.5 ba · sleeps 4 · 0.7 mi
Revenue $62,563ADR $303Occ ≈ 57%4.7★ (43)
Airbnb Vrbo Booking
Tree Top Hideaway - Private with Games + Firepit!
Cabin · 2 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $56,006ADR $223Occ ≈ 69%5★ (1)
Airbnb Vrbo
Mountaintop Blue Ridge Cabin: 2 Mi to Downtown
Cabin · 2 bd · 2 ba · sleeps 4 · 0.8 mi
Revenue $18,089ADR $246Occ ≈ 20%4.8★ (17)
Airbnb Vrbo Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Perch 3- DT Blue Ridge Condo, King Beds, Balcony Condominium (condo)	2 bd · 2 ba · sleeps 5	$56,644	$370	42%	4.7★ (32)	0.2 mi	Airbnb Vrbo Booking
Runner's Roost\|Hot Tub\|Pool Table\|Dogs Welcome Cabin	2 bd · 2 ba · sleeps 6	$55,609	$242	63%	5★ (217)	0.2 mi	Airbnb Vrbo Booking
Postcard Perfect Downtown- Walk 2 Shops & Dining! Condominium (condo)	2 bd · 2 ba · sleeps 4	$54,230	$308	48%	4.9★ (20)	0.2 mi	Airbnb Vrbo Booking
Charming 2BR Cottage in Downtown Blue Ridge Cottage	2 bd · 2 ba · sleeps 4	$32,942	$250	36%	5★ (152)	0.2 mi	Airbnb Vrbo
DTBR - Summer Fun! Two King Beds, Dine, Shop! Condominium (condo)	2 bd · 2 ba · sleeps 4	$69,032	$266	71%	5★ (372)	0.2 mi	Airbnb
Beautiful Condo in Downtown Blue Ridge! Condominium (condo)	2 bd · 2 ba · sleeps 4	$58,751	$258	62%	5★ (349)	0.2 mi	Airbnb Vrbo
Limelight Cottage, Walk to Downtown, No Mgmt Fees! Cottage	2 bd · 2.5 ba · sleeps 4	$35,712	$262	37%	5★ (228)	0.4 mi	Airbnb Vrbo
Firefly Farmhouse- River Front, Outdoor Fireplace House	2 bd · 2.5 ba · sleeps 6	$60,869	$342	49%	5★ (21)	0.5 mi	Airbnb Vrbo Booking
Treehouse Sauna + Hot Tub \| Mountain Views House	2 bd · 2 ba · sleeps 6	$81,457	$303	74%	5★ (106)	0.5 mi	Airbnb
Eagles View - Blue Ridge Cabin	2 bd · 2.5 ba · sleeps 4	$62,563	$303	57%	4.7★ (43)	0.7 mi	Airbnb Vrbo Booking
Tree Top Hideaway - Private with Games + Firepit! Cabin	2 bd · 2 ba · sleeps 6	$56,006	$223	69%	5★ (1)	0.7 mi	Airbnb Vrbo
Mountaintop Blue Ridge Cabin: 2 Mi to Downtown Cabin	2 bd · 2 ba · sleeps 4	$18,089	$246	20%	4.8★ (17)	0.8 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

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracket

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$55,309

NOI

$26,263

Cash flow /mo

-$1,852

Cash needed

$217,471

Cash-on-cash

-10.2%

ROE (yr 1)

2.4%

Cap rate

3.5%

DSCR

0.54

Year-1 write-off

$145,292

Year-1 tax shield @ 32%

$46,494

Year-1 return on equity

Cash flow (annual)-$22,228
Principal paydown$4,907
Appreciation at%$22,497

ROE2.4%

ROE incl. year-1 tax savings (32% bracket, STR loophole)23.8%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$11,062
Platform fees (3% of revenue)$1,659
Maintenance / capex (5% of revenue)$2,765
Utilities & supplies$4,200
HOA$0
Property tax$1,373
Insurance (STR-rated)$7,986

Cash needed to close

Down payment (25%)$187,475
Closing costs (4.0%)$29,996
Furnishing (conveyed with the sale)$0

Tax savings if the STR loophole applies

Tax shield @ 32%$46,494

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

$632,000

Short-life (5/15-yr)

$144,000 · 23%

Year-1 deduction

$145,000

Year-1 tax shield @ 32%

$46,000

Land 16% (county tax record, market value split) · building $488,000 over 39 years

Based on: ~1,400 sq ft (from beds), built 2021, 2 bd / 2.5 ba, furnished, listing features (fence, fireplace, flooring types, appliance list).

IRS-guide safe-harbor floor: $102,000 in year 1 (16% short-life, $33,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$94,700

Kitchen cabinetsdefault
$8,900 new × 80% good × 2.60 allocation
$18,500
Kitchen countertopsdefault
$7,300 new × 80% good × 2.60 allocation
$15,100
Decorative trimdefault
$2,500 new × 80% good × 2.60 allocation
$5,100
Mirrorsdefault
$300 new × 58% good × 2.60 allocation
$500
Shelvingdefault
$900 new × 80% good × 2.60 allocation
$1,900
Window coverings (14)default
$3,500 new × 50% good × 2.60 allocation
$4,600
Carpet, vinyl & laminate (33% of floors)listing
$3,000 new × 58% good × 2.60 allocation
$4,600
Kitchen & laundry equipment plumbingdefault
$6,900 new × 90% good × 2.60 allocation
$16,200
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 90% good × 2.60 allocation
$9,800
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)listing
$8,100 new × 58% good × 2.60 allocation
$12,300
Furniture conveyed with the sale (used)listing
$16,000 new × 40% good · out of the price
$6,400

15-year land improvements$49,000

Paving: driveway & walks (paved)default
$7,800 new × 80% good × 2.60 allocation
$16,200
Landscaping (typical)default
$7,500 new × 80% good × 2.60 allocation
$15,500
Patiosdefault
$1,400 new × 80% good × 2.60 allocation
$2,900
Decks & porches (attached)default
$1,400 new × 75% good × 2.60 allocation
$2,700
Fencinglisting
$6,000 new × 75% good × 2.60 allocation
$11,700

Building, 39-year$488,300

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$151,800 new × 92% good × 2.60 allocation
$362,100
Building plumbing & fixturesdefault
$15,700 new × 90% good × 2.60 allocation
$36,800
Building electrical & lightingdefault
$15,000 new × 90% good × 2.60 allocation
$35,200
HVACdefault
$15,800 new × 75% good × 2.60 allocation
$30,800
Hardwood & tile floorsdefault
$6,000 new × 80% good × 2.60 allocation
$12,500
Fireplaces (2)listing
$5,300 new × 80% good × 2.60 allocation
$11,000

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	$94,700	$49,000	$1,600	$145,300
2	$0	$0	$12,500	$12,500
3	$0	$0	$12,500	$12,500
4	$0	$0	$12,500	$12,500
5	$0	$0	$12,500	$12,500
6+	$0	$0	$436,700	$436,700
Total	$94,700	$49,000	$488,300	$632,100

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: 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.