204A Depot St
Blue Ridge, GA 30513
$769,999
2 bd · 2.5 ba · 1,180 sqft · Listed 1d ago
View on Realtor.com →Year built
2026
Sqft
1,180
Lot sqft
6,534
HOA / mo
None
Furnished
No
List date
2026-10-24T04:08:57.000000Z
Revenue
Annual revenue
$55,595
ADR
$260
Occupancy
59%
Cleaning fees (12 mo)
$10,413
Confidence
Med (58.52), 20 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $54,720
Top floor condo overlooking historic Downtown Blue Ridge!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.1 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +1
Revenue $55,327ADR $349Occ ≈ 43%5★ (163)
Martini Mountain Downtown Loft
Apartment · 2 bd · 2 ba · sleeps 4 · 0.2 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +1
Revenue $17,510ADR $284Occ ≈ 17%5★ (11)
Martini Mountain Downtown Loft
Apartment · 2 bd · 2 ba · sleeps 4 · 0.2 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +1
Revenue $21,130ADR $388Occ ≈ 15%5★ (1)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Modern Rustic Loft Suite in Downtown Blue Ridge Loft
| 2 bd · 2 ba · sleeps 6 | $60,819 | $213 | 78% | 5★ (253) | 135 ft | AirbnbVrboBooking |
Luxe Loft in DT BlueRidge Near Shops w/ EV Charger Loft | 2 bd · 2 ba · sleeps 4 | $75,534 | $374 | 55% | 5★ (253) | 381 ft | AirbnbVrboBooking |
Perch 2- DT Blue Ridge, Walk 2 Shops & Restaurants Condominium (condo)
| 2 bd · 2 ba · sleeps 5 | $58,479 | $376 | 43% | 4.8★ (32) | 390 ft | AirbnbVrboBooking |
Middle of Main Street LOFT Downtown Blue Ridge Cottage
| 2 bd · 2 ba · sleeps 4 | $34,970 | $240 | 40% | 5★ (45) | 410 ft | AirbnbVrbo |
Charming 2BR Cottage in Downtown Blue Ridge Cottage
| 2 bd · 2 ba · sleeps 4 | $33,375 | $251 | 36% | 5★ (158) | 0.1 mi | AirbnbVrbo |
Postcard Perfect Downtown- Walk 2 Shops & Dining! Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $52,154 | $308 | 46% | 4.9★ (20) | 0.1 mi | AirbnbVrboBooking |
Top floor condo overlooking historic Downtown Blue Ridge! Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $55,327 | $349 | 43% | 5★ (163) | 0.1 mi | Vrbo |
Martini Mountain Downtown Loft Apartment
| 2 bd · 2 ba · sleeps 4 | $17,510 | $284 | 17% | 5★ (11) | 0.2 mi | Airbnb |
Heart of Downtown| Lux Condo| Walk to Everything | Apartment
| 2 bd · 2 ba · sleeps 4 | $67,636 | $293 | 63% | 5★ (185) | 0.2 mi | AirbnbVrboBooking |
Martini Mountain Downtown Loft Apartment
| 2 bd · 2 ba · sleeps 4 | $21,130 | $388 | 15% | 5★ (1) | 0.2 mi | Vrbo |
Show 10 more
SHOP, DINE, UNWIND…All from a Downtown Penthouse!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +1
Revenue $42,762ADR $335Occ ≈ 35%5★ (91)
DTBR - Fall is Here! Two King Beds, Dine, Shop!
Condominium (condo) · 2 bd · 2 ba · sleeps 4 · 0.2 mi
- A/C
- Free parking
- Pets OK
- Wifi
- +3
Revenue $69,656ADR $271Occ ≈ 70%5★ (376)
Downtown Digs - pet friendly 2/2 in downtown BR
House · 2 bd · 2 ba · sleeps 4 · 0.2 mi
- A/C
- Free parking
- Pets OK
- Wifi
- +2
Revenue $48,070ADR $262Occ ≈ 50%5★ (29)
Blue Bungalow 1 mile to Downtown
House · 2 bd · 2 ba · sleeps 5 · 0.7 mi
Revenue $492ADR $0Occ ≈ —5★ (29)
Treehouse Sauna + Hot Tub | Mountain Views
House · 2 bd · 2 ba · sleeps 6 · 0.7 mi
- Hot tub
- A/C
- Free parking
- Wifi
- +5
Revenue $81,331ADR $304Occ ≈ 73%5★ (111)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
SHOP, DINE, UNWIND…All from a Downtown Penthouse! Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $42,762 | $335 | 35% | 5★ (91) | 0.2 mi | Vrbo |
Perch 3- DT Blue Ridge Condo, King Beds, Balcony Condominium (condo)
| 2 bd · 2 ba · sleeps 5 | $54,113 | $370 | 40% | 4.6★ (34) | 0.2 mi | AirbnbVrboBooking |
Limelight Cottage, Walk to Downtown, No Mgmt Fees! Cottage
| 2 bd · 2.5 ba · sleeps 4 | $34,593 | $261 | 36% | 4.9★ (231) | 0.2 mi | AirbnbVrbo |
DTBR - Fall is Here! Two King Beds, Dine, Shop! Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $69,656 | $271 | 70% | 5★ (376) | 0.2 mi | Airbnb |
Downtown Digs - pet friendly 2/2 in downtown BR House
| 2 bd · 2 ba · sleeps 4 | $48,070 | $262 | 50% | 5★ (29) | 0.2 mi | Airbnb |
Beautiful Condo in Downtown Blue Ridge! Condominium (condo)
| 2 bd · 2 ba · sleeps 4 | $57,446 | $260 | 61% | 5★ (353) | 0.3 mi | AirbnbVrbo |
Runner's Roost|Hot Tub|Pool Table|Dogs Welcome Cabin | 2 bd · 2 ba · sleeps 6 | $58,588 | $242 | 66% | 5★ (217) | 0.3 mi | AirbnbBooking |
Firefly Farmhouse- River Front, Outdoor Fireplace House
| 2 bd · 2.5 ba · sleeps 6 | $57,138 | $351 | 45% | 5★ (22) | 0.7 mi | AirbnbVrboBooking |
Blue Bungalow 1 mile to Downtown House | 2 bd · 2 ba · sleeps 5 | $492 | $0 | — | 5★ (29) | 0.7 mi | Airbnb |
Treehouse Sauna + Hot Tub | Mountain Views House
| 2 bd · 2 ba · sleeps 6 | $81,331 | $304 | 73% | 5★ (111) | 0.7 mi | Airbnb |
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 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium
Est. revenue
$55,595
NOI
$21,776
Cash flow /mo
-$2,451
Cash needed
$239,300
Cash-on-cash
-12.3%
ROE (yr 1)
-0.6%
Cap rate
2.8%
DSCR
0.43
Year-1 write-off
$141,861
Year-1 tax shield @ 32%
$45,396
Year-1 return on equity
- Cash flow (annual)-$29,412
- Principal paydown$4,758
- Appreciation at%$23,100
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,119
- Platform fees (3% of revenue)$1,668
- Maintenance / capex (5% of revenue)$2,780
- Utilities & supplies$4,200
- HOA$0
- Property tax$5,852
- Insurance (STR-rated)$8,200
Cash needed to close
- Down payment (25%)$192,500
- Closing costs (4.0%)$30,800
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$45,396
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
$654,000
Short-life (5/15-yr)
$125,000 · 19%
Year-1 deduction
$142,000
Year-1 tax shield @ 32%
$45,000
Land 15% (market default, no usable tax-record split) · building $529,000 over 39 years · new furniture $16,000
Based on: 1,180 sq ft, built 2026, 2 bd / 2.5 ba, unfurnished, listing features (flooring types, appliance list).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $85,000 in year 1 (10% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $25,900
Kitchen cabinetsdefault
$8,400 new × 100% good × 3.08 allocation
- $21,200
Kitchen countertopsdefault
$6,900 new × 100% good × 3.08 allocation
- $6,400
Decorative trimdefault
$2,100 new × 100% good × 3.08 allocation
- $900
Mirrorsdefault
$300 new × 100% good × 3.08 allocation
- $2,800
Shelvingdefault
$900 new × 100% good × 3.08 allocation
- $9,300
Window coverings (12)default
$3,000 new × 100% good × 3.08 allocation
- $7,800
Carpet, vinyl & laminate (33% of floors)listing
$2,500 new × 100% good × 3.08 allocation
- $20,100
Kitchen & laundry equipment plumbingdefault
$6,500 new × 100% good × 3.08 allocation
- $12,200
Kitchen, laundry & data equipment electricaldefault
$3,900 new × 100% good × 3.08 allocation
- $18,800
Appliances (range, microwave, dishwasher, disposal, refrigerator)listing
$6,100 new × 100% good × 3.08 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $394,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$127,700 new × 100% good × 3.08 allocation
- $40,800
Building plumbing & fixturesdefault
$13,200 new × 100% good × 3.08 allocation
- $37,700
Building electrical & lightingdefault
$12,200 new × 100% good × 3.08 allocation
- $41,000
HVACdefault
$13,300 new × 100% good × 3.08 allocation
- $15,600
Hardwood & tile floorsdefault
$5,100 new × 100% good × 3.08 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $141,300 | $0 | $600 | $141,900 |
| 2 | $0 | $0 | $13,600 | $13,600 |
| 3 | $0 | $0 | $13,600 | $13,600 |
| 4 | $0 | $0 | $13,600 | $13,600 |
| 5 | $0 | $0 | $13,600 | $13,600 |
| 6+ | $0 | $0 | $474,400 | $474,400 |
| Total | $141,300 | $0 | $529,200 | $670,500 |
The building's share of the price ($654,000) is 3.1x our depreciated replacement cost of the home ($212,000). 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: California, Georgia and Wisconsin disallow 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.