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7233 Shakerag Rd

7233 Shakerag Rd

Ellijay, GA 30540

$719,777

4 bd · 3.5 ba · 4,952 sqft · Listed 6d ago

View on Realtor.com →

Year built

1987

Sqft

4,952

Lot sqft

321,037

HOA / mo

$0

Furnished

No

List date

2026-09-21T19:08:58.000000Z

Revenue

Annual revenue

$46,146

ADR

$239

Occupancy

53%

Cleaning fees (12 mo)

$10,792

Confidence

Low (42.54), 10 comps

Comp revenue range (p25 / median / p75)

$33,581$48,039$57,417

  • Private Oasis, Family & Pet Friendly, Bordering National Forest and Trails.

    Cabin · 3 bd · 2 ba · sleeps 6 · 0.5 mi

    Revenue $1,265ADR $180Occ ≈ 2%—

    Vrbo

  • Custom-Built Luxury Cabin w/ Tesla Charger!

    Cabin · 4 bd · 3 ba · sleeps 10 · 1.1 mi

    Revenue $48,680ADR $293Occ ≈ 46%4.7★ (73)

    AirbnbVrboBooking

  • Pinhoti Lodge Cabin with hot tub in the mountains

    House · 3 bd · 2 ba · sleeps 6 · 1.2 mi

    Revenue $47,398ADR $167Occ ≈ 78%4.9★ (78)

    AirbnbVrbo

  • Magical Forest Lodge-HotTub-Pool Table-Creek

    Cabin · 3 bd · 2 ba · sleeps 6 · 1.3 mi

    Revenue $65,575ADR $235Occ ≈ 76%4.8★ (194)

    AirbnbVrbo

  • *Mountain Views-Firepit-Hot Tub-Arcades and More!*

    House · 5 bd · 3.5 ba · sleeps 12 · 1.4 mi

    Revenue $89,209ADR $435Occ ≈ 56%5★ (69)

    AirbnbVrbo

  • Mountain Waters Lodge - Chef's Kitchen

    Cabin · 4 bd · 4.5 ba · sleeps 9 · 1.6 mi

    Revenue $58,090ADR $409Occ ≈ 39%4.9★ (66)

    AirbnbVrbo

  • sleeps 8+ Fire Pit -15 min Ellijay

    Cabin · 4 bd · 2 ba · sleeps 8 · 1.7 mi

    Revenue $37,356ADR $201Occ ≈ 51%4.9★ (30)

    AirbnbVrbo

  • Creekside Storie - Waterfalls Hike Bike Hot Tub

    House · 3 bd · 3 ba · sleeps 6 · 1.8 mi

    Revenue $55,397ADR $204Occ ≈ 74%5★ (106)

    AirbnbVrbo

  • Private Ellijay Cabin Sleeps 6 - Loft, Stone Fireplace, Trails & Lake Nearby

    Cabin · 3 bd · 2 ba · sleeps 6 · 2.0 mi

    Revenue $11,468ADR $179Occ ≈ 18%3.5★ (4)

    Vrbo

  • Cozy Cohutta Cabin - Creek Front Mountain Cabin

    Cabin · 3 bd · 2 ba · sleeps 6 · 2.0 mi

    Revenue $32,323ADR $233Occ ≈ 38%4.8★ (102)

    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

Financing

Est. revenue

$46,146

NOI

$20,633

Cash flow /mo

$1,719

Cash needed

$777,568

Cash-on-cash (all cash)

2.7%

ROE (yr 1)

5.4%

Cap rate

2.9%

DSCR

—

Year-1 write-off

$150,839

Year-1 tax shield @ 32%

$48,269

Year-1 return on equity

  • Cash flow (annual)$20,633
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$21,593
ROE5.4%
ROE incl. year-1 tax savings (32% bracket, STR loophole)11.6%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$9,229
  • Platform fees (3% of revenue)$1,384
  • Maintenance / capex (5% of revenue)$2,307
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$619
  • Insurance (STR-rated)$7,774

Cash needed to close

  • Purchase price (all cash)$719,777
  • Closing costs (4.0%)$28,791
  • Furnishing (bought new)$29,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$48,269

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

$563,000

Short-life (5/15-yr)

$120,000 · 21%

Year-1 deduction

$151,000

Year-1 tax shield @ 32%

$48,000

Land 22% (county tax record, market value split) · building $442,000 over 39 years · new furniture $29,000

Based on: 4,952 sq ft, built 1987, 4 bd / 3.5 ba, unfurnished, listing features (deck, game room, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $86,000 in year 1 (10% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$83,600

  • Kitchen cabinetsdefault

    $16,700 new × 40% good × 1.48 allocation

    $9,800

  • Kitchen countertopsdefault

    $13,600 new × 40% good × 1.48 allocation

    $8,000

  • Decorative trimdefault

    $8,700 new × 40% good × 1.48 allocation

    $5,100

  • Mirrorsdefault

    $500 new × 40% good × 1.48 allocation

    $300

  • Shelvingdefault

    $1,500 new × 40% good × 1.48 allocation

    $900

  • Window coverings (50)default

    $12,500 new × 40% good × 1.48 allocation

    $7,400

  • Carpet, vinyl & laminate (33% of floors)listing

    $10,600 new × 40% good × 1.48 allocation

    $6,300

  • Kitchen & laundry equipment plumbingdefault

    $13,000 new × 40% good × 1.48 allocation

    $7,600

  • Kitchen, laundry & data equipment electricaldefault

    $7,800 new × 40% good × 1.48 allocation

    $4,600

  • Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing

    $7,700 new × 40% good × 1.48 allocation

    $4,500

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$65,800

  • Paving: driveway & walks (paved)default

    $14,600 new × 50% good × 1.48 allocation

    $10,800

  • Landscaping (typical)default

    $14,000 new × 50% good × 1.48 allocation

    $10,400

  • Patiosdefault

    $4,900 new × 50% good × 1.48 allocation

    $3,600

  • Decks & porches (attached)listing

    $55,700 new × 50% good × 1.48 allocation

    $41,100
Building, 39-year$442,500

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

    $539,100 new × 40% good × 1.48 allocation

    $318,200

  • Building plumbing & fixturesdefault

    $55,900 new × 40% good × 1.48 allocation

    $33,000

  • Building electrical & lightingdefault

    $60,000 new × 40% good × 1.48 allocation

    $35,400

  • HVACdefault

    $55,800 new × 40% good × 1.48 allocation

    $32,900

  • Hardwood & tile floorsdefault

    $21,200 new × 40% good × 1.48 allocation

    $12,500

  • Fireplacelisting

    $2,600 new × 40% good × 1.48 allocation

    $1,600

  • Septic systemlisting

    $12,000 new × 50% good × 1.48 allocation

    $8,900

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$83,600$65,800$1,400$150,800
2$0$0$11,300$11,300
3$0$0$11,300$11,300
4$0$0$11,300$11,300
5$0$0$11,300$11,300
6+$0$0$395,700$395,700
Total$83,600$65,800$442,500$591,900

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.