788 Fish Trap Trl
Mineral Bluff, GA 30559
$1,200,000
2 bd · 2 ba · 1,328 sqft · Listed 2d ago
View on Realtor.com →Year built
1994
Sqft
1,328
Lot sqft
60,113
HOA / mo
$0
Furnished
No
List date
2026-09-25T17:26:26.000000Z
Revenue
Annual revenue
$30,647
ADR
$273
Occupancy
31%
Cleaning fees (12 mo)
$6,231
Confidence
Low (30.56), 8 comps
Comp revenue range (p25 / median / p75)
Cozy Mountain Cabin Near Blue Ridge
Cabin · 2 bd · 3 ba · sleeps 9 · 0.3 mi
Revenue $18,045ADR $267Occ ≈ 19%5★ (13)
Modern Forest Hideaway - Quiet • Cozy • Near River
Cabin · 2 bd · 2 ba · sleeps 4 · 0.3 mi
Revenue $5,870ADR $124Occ ≈ 13%5★ (3)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Riverfront Cabin w/ Hot Tub & Fireplace Cabin | 2 bd · 2.5 ba · sleeps 5 | $26,348 | $376 | 19% | 5★ (8) | 472 ft | AirbnbVrboBooking |
Cozy Mountain Cabin Near Blue Ridge Cabin | 2 bd · 3 ba · sleeps 9 | $18,045 | $267 | 19% | 5★ (13) | 0.3 mi | Vrbo |
Modern Forest Hideaway - Quiet • Cozy • Near River Cabin | 2 bd · 2 ba · sleeps 4 | $5,870 | $124 | 13% | 5★ (3) | 0.3 mi | Airbnb |
*Tranquility on the Toccoa* OMG~RiverFront~Games House | 2 bd · 2.5 ba · sleeps 6 | $41,643 | $254 | 45% | 4.5★ (62) | 0.4 mi | AirbnbVrboBooking |
Woodentops- Hot Tub, Pet Friendly, Toccoa River Access Cabin | 2 bd · 2 ba · sleeps 8 | $25,688 | $449 | 16% | 4.8★ (15) | 0.4 mi | AirbnbVrboBooking |
In the Oaks Cabin | 2 bd · 2 ba · sleeps 4 | $10,121 | $189 | 15% | 5★ (20) | 0.5 mi | Airbnb |
Woolly Bugger Cabin: Hot Tub & Fishing Pond Cabin | 2 bd · 2 ba · sleeps 4 | $724 | $181 | 1% | 4.9★ (70) | 0.6 mi | AirbnbVrboBooking |
Bear River Cabin-Hot Tub, 5 Min Toccoa River Cabin | 2 bd · 2 ba · sleeps 4 | $23,529 | $264 | 24% | 3.9★ (13) | 0.7 mi | AirbnbVrboBooking |
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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$30,647
NOI
$3,705
Cash flow /mo
-$6,158
Cash needed
$364,000
Cash-on-cash
-20.3%
ROE (yr 1)
-8.3%
Cap rate
0.3%
DSCR
0.05
Year-1 write-off
$258,341
Year-1 tax shield @ 32%
$82,669
Year-1 return on equity
- Cash flow (annual)-$73,892
- Principal paydown$7,853
- Appreciation at%$36,000
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$6,129
- Platform fees (3% of revenue)$919
- Maintenance / capex (5% of revenue)$1,532
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,381
- Insurance (STR-rated)$12,780
Cash needed to close
- Down payment (25%)$300,000
- Closing costs (4.0%)$48,000
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$82,669
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
$1,020,000
Short-life (5/15-yr)
$240,000 · 24%
Year-1 deduction
$258,000
Year-1 tax shield @ 32%
$83,000
Land 15% (market default, no usable tax-record split) · building $780,000 over 39 years · new furniture $16,000
Based on: 1,328 sq ft, built 1994, 2 bd / 2 ba, unfurnished, listing features (flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $186,000 in year 1 (16% short-life, $60,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $30,000
Kitchen cabinetsdefault
$8,700 new × 40% good × 8.60 allocation
- $24,500
Kitchen countertopsdefault
$7,100 new × 40% good × 8.60 allocation
- $8,000
Decorative trimdefault
$2,300 new × 40% good × 8.60 allocation
- $1,000
Mirrorsdefault
$300 new × 40% good × 8.60 allocation
- $3,100
Shelvingdefault
$900 new × 40% good × 8.60 allocation
- $11,200
Window coverings (13)default
$3,300 new × 40% good × 8.60 allocation
- $29,400
Carpet, vinyl & laminate (100% of floors)listing
$8,500 new × 40% good × 8.60 allocation
- $23,300
Kitchen & laundry equipment plumbingdefault
$6,800 new × 40% good × 8.60 allocation
- $14,100
Kitchen, laundry & data equipment electricaldefault
$4,100 new × 40% good × 8.60 allocation
- $20,300
Appliances (microwave, dishwasher, refrigerator, washer, dryer)listing
$5,900 new × 40% good × 8.60 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $32,500
Paving: driveway & walks (paved)default
$7,600 new × 50% good × 8.60 allocation
- $31,200
Landscaping (typical)default
$7,300 new × 50% good × 8.60 allocation
- $5,600
Patiosdefault
$1,300 new × 50% good × 8.60 allocation
- $5,600
Decks & porches (attached)default
$1,300 new × 50% good × 8.60 allocation
- $577,400
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$143,900 new × 47% good × 8.60 allocation
- $51,200
Building plumbing & fixturesdefault
$14,900 new × 40% good × 8.60 allocation
- $48,500
Building electrical & lightingdefault
$14,100 new × 40% good × 8.60 allocation
- $51,500
HVACdefault
$15,000 new × 40% good × 8.60 allocation
- $51,600
Septic systemlisting
$12,000 new × 50% good × 8.60 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $180,800 | $75,000 | $2,500 | $258,300 |
| 2 | $0 | $0 | $20,000 | $20,000 |
| 3 | $0 | $0 | $20,000 | $20,000 |
| 4 | $0 | $0 | $20,000 | $20,000 |
| 5 | $0 | $0 | $20,000 | $20,000 |
| 6+ | $0 | $0 | $697,600 | $697,600 |
| Total | $180,800 | $75,000 | $780,200 | $1,036,000 |
The building's share of the price ($1,020,000) is 8.6x our depreciated replacement cost of the home ($119,000). The IRS guide treats a gap this size as a reason to review the land share: if land is worth more than the county ratio says, the basis and the write-off are smaller.
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.