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

203 Minnehaha Trl

Blue Ridge, GA 30513

$1,075,000

3 bd · 3 ba · Listed 2d ago

View on Realtor.com →

Est. land %Negative cash flow

Year built

2026

Sqft

—

Lot sqft

111,514

HOA / mo

None

Furnished

List date

2026-09-25T18:53:36.000000Z

Revenue

Annual revenue

$47,446

ADR

$288

Occupancy

45%

Cleaning fees (12 mo)

$10,337

Confidence

Low (43.51), 20 comps

Comp revenue range (p25 / median / p75)

$22,657$46,243$53,795

Game Room + Hot Tub | Blue Ridge Cabin
Cabin · 3 bd · 3 ba · sleeps 10 · 0.2 mi
Revenue $51,190ADR $368Occ ≈ 38%5★ (61)
Airbnb Vrbo
The Sanctuary in Blue, Long Range Mountain Views
Cabin · 3 bd · 3 ba · sleeps 8 · 0.3 mi
Revenue $38,149ADR $329Occ ≈ 32%5★ (62)
Airbnb Vrbo Booking
Born In The Rockies|MTN Views|Hot Tub|Fire Pit
Cabin · 3 bd · 3 ba · sleeps 12 · 0.3 mi
Revenue $36,545ADR $351Occ ≈ 29%4.7★ (6)
Airbnb Booking
Mountain Views | Fireplace Deck | Game Room
Cabin · 3 bd · 3 ba · sleeps 7 · 0.4 mi
Revenue $51,727ADR $340Occ ≈ 42%5★ (31)
Airbnb Vrbo Booking
Mountain cabin ~ Hot Tub, Game room & Waterfall!
Cabin · 3 bd · 3 ba · sleeps 11 · 0.4 mi
Revenue $82,136ADR $302Occ ≈ 75%4.9★ (38)
Airbnb Vrbo Booking
Designer Cabin • MTN Views • Hot-Tub • Mins to DT
Cabin · 3 bd · 2.5 ba · sleeps 8 · 0.4 mi
Revenue $105,059ADR $381Occ ≈ 76%5★ (62)
Airbnb Vrbo
Rusty Rooster- Pets OK, Hot Tub, Firepit, Gameroom
Cabin · 3 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $41,295ADR $338Occ ≈ 33%4.7★ (28)
Airbnb Vrbo Booking
Luxury Mountain View Cabin with Jacuzzi
Cabin · 3 bd · 3 ba · sleeps 6 · 0.5 mi
Revenue $59,103ADR $324Occ ≈ 50%5★ (139)
Airbnb Vrbo
Luxury Cabin Minutes to DWTN Blue Ridge All Paved
Cabin · 3 bd · 3 ba · sleeps 10 · 0.5 mi
Revenue $21,428ADR $329Occ ≈ 18%4.8★ (157)
Airbnb Vrbo
NEW Sauna +Hot Tub + Pizza Oven + Fire Pit + Views
Cabin · 3 bd · 2 ba · sleeps 7 · 0.5 mi
Revenue $51,228ADR $279Occ ≈ 50%5★ (36)
Airbnb

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Game Room + Hot Tub \| Blue Ridge Cabin Cabin	3 bd · 3 ba · sleeps 10	$51,190	$368	38%	5★ (61)	0.2 mi	Airbnb Vrbo
The Sanctuary in Blue, Long Range Mountain Views Cabin	3 bd · 3 ba · sleeps 8	$38,149	$329	32%	5★ (62)	0.3 mi	Airbnb Vrbo Booking
Born In The Rockies\|MTN Views\|Hot Tub\|Fire Pit Cabin	3 bd · 3 ba · sleeps 12	$36,545	$351	29%	4.7★ (6)	0.3 mi	Airbnb Booking
Mountain Views \| Fireplace Deck \| Game Room Cabin	3 bd · 3 ba · sleeps 7	$51,727	$340	42%	5★ (31)	0.4 mi	Airbnb Vrbo Booking
Mountain cabin ~ Hot Tub, Game room & Waterfall! Cabin	3 bd · 3 ba · sleeps 11	$82,136	$302	75%	4.9★ (38)	0.4 mi	Airbnb Vrbo Booking
Designer Cabin • MTN Views • Hot-Tub • Mins to DT Cabin	3 bd · 2.5 ba · sleeps 8	$105,059	$381	76%	5★ (62)	0.4 mi	Airbnb Vrbo
Rusty Rooster- Pets OK, Hot Tub, Firepit, Gameroom Cabin	3 bd · 3 ba · sleeps 8	$41,295	$338	33%	4.7★ (28)	0.4 mi	Airbnb Vrbo Booking
Luxury Mountain View Cabin with Jacuzzi Cabin	3 bd · 3 ba · sleeps 6	$59,103	$324	50%	5★ (139)	0.5 mi	Airbnb Vrbo
Luxury Cabin Minutes to DWTN Blue Ridge All Paved Cabin	3 bd · 3 ba · sleeps 10	$21,428	$329	18%	4.8★ (157)	0.5 mi	Airbnb Vrbo
NEW Sauna +Hot Tub + Pizza Oven + Fire Pit + Views Cabin	3 bd · 2 ba · sleeps 7	$51,228	$279	50%	5★ (36)	0.5 mi	Airbnb

Show all 20 comps

Luxury cabin mins to downtown; sleeps 10
Cabin · 3 bd · 3 ba · sleeps 10 · 0.5 mi
Revenue $23,067ADR $273Occ ≈ 23%4.8★ (243)
Airbnb Vrbo Booking
Buckberry Lodge
House · 3 bd · 3 ba · sleeps 8 · 0.6 mi
Revenue $63,485ADR $359Occ ≈ 48%5★ (20)
Airbnb Vrbo
Mountain Views Private Deck |5 min to Town|Games!
Cabin · 3 bd · 3 ba · sleeps 8 · 0.6 mi
Revenue $52,026ADR $269Occ ≈ 53%5★ (120)
Airbnb Vrbo
The Brantley Tranquil Escape
Cabin · 3 bd · 2 ba · sleeps 8 · 0.6 mi
Revenue $12,214ADR $278Occ ≈ 12%3.4★ (5)
Airbnb Vrbo
Hillside Escape - Very peaceful yet close to town!
Cabin · 3 bd · 3 ba · sleeps 8 · 0.7 mi
Revenue $25,477ADR $201Occ ≈ 35%4.8★ (66)
Airbnb Vrbo
Creekside, family-friendly cabin w/ a private hot tub, game room, & firepit
Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi
Revenue $20,829ADR $221Occ ≈ 26%4.5★ (80)
Vrbo
Moonlight Creek Cabin- PRIVATE MOUNTAIN CABIN- 5 mins to Downtown Blue Ridge
Cabin · 3 bd · 3 ba · sleeps 10 · 0.7 mi
Revenue $12,354ADR $295Occ ≈ 11%4.6★ (19)
Vrbo
Hot Tub + Mtn Views: Peaceful Blue Ridge Retreat!
House · 3 bd · 3.5 ba · sleeps 6 · 0.8 mi
Revenue $13,526ADR $216Occ ≈ 17%5★ (137)
Airbnb Vrbo Booking
❤️ Calico Cabin Mtn Views! Hot tub, Firepit, pets!
Cabin · 3 bd · 3.5 ba · sleeps 8 · 0.8 mi
Revenue $51,262ADR $284Occ ≈ 49%5★ (383)
Airbnb Vrbo
Cabin in Blue Ridge with Hot Tub & Panoramic Views
Cabin · 3 bd · 3 ba · sleeps 8 · 0.8 mi
Revenue $75,970ADR $275Occ ≈ 76%5★ (188)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Luxury cabin mins to downtown; sleeps 10 Cabin	3 bd · 3 ba · sleeps 10	$23,067	$273	23%	4.8★ (243)	0.5 mi	Airbnb Vrbo Booking
Buckberry Lodge House	3 bd · 3 ba · sleeps 8	$63,485	$359	48%	5★ (20)	0.6 mi	Airbnb Vrbo
Mountain Views Private Deck \|5 min to Town\|Games! Cabin	3 bd · 3 ba · sleeps 8	$52,026	$269	53%	5★ (120)	0.6 mi	Airbnb Vrbo
The Brantley Tranquil Escape Cabin	3 bd · 2 ba · sleeps 8	$12,214	$278	12%	3.4★ (5)	0.6 mi	Airbnb Vrbo
Hillside Escape - Very peaceful yet close to town! Cabin	3 bd · 3 ba · sleeps 8	$25,477	$201	35%	4.8★ (66)	0.7 mi	Airbnb Vrbo
Creekside, family-friendly cabin w/ a private hot tub, game room, & firepit Cabin	3 bd · 3 ba · sleeps 6	$20,829	$221	26%	4.5★ (80)	0.7 mi	Vrbo
Moonlight Creek Cabin- PRIVATE MOUNTAIN CABIN- 5 mins to Downtown Blue Ridge Cabin	3 bd · 3 ba · sleeps 10	$12,354	$295	11%	4.6★ (19)	0.7 mi	Vrbo
Hot Tub + Mtn Views: Peaceful Blue Ridge Retreat! House	3 bd · 3.5 ba · sleeps 6	$13,526	$216	17%	5★ (137)	0.8 mi	Airbnb Vrbo Booking
❤️ Calico Cabin Mtn Views! Hot tub, Firepit, pets! Cabin	3 bd · 3.5 ba · sleeps 8	$51,262	$284	49%	5★ (383)	0.8 mi	Airbnb Vrbo
Cabin in Blue Ridge with Hot Tub & Panoramic Views Cabin	3 bd · 3 ba · sleeps 8	$75,970	$275	76%	5★ (188)	0.8 mi	Airbnb Vrbo

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

$47,446

NOI

$10,342

Cash flow /mo

-$4,931

Cash needed

$331,250

Cash-on-cash

-17.9%

ROE (yr 1)

-6.0%

Cap rate

1.0%

DSCR

0.15

Year-1 write-off

$242,663

Year-1 tax shield @ 32%

$77,652

Year-1 return on equity

Cash flow (annual)-$59,171
Principal paydown$7,035
Appreciation at%$32,250

ROE-6.0%

ROE incl. year-1 tax savings (32% bracket, STR loophole)17.4%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$9,489
Platform fees (3% of revenue)$1,423
Maintenance / capex (5% of revenue)$2,372
Utilities & supplies$4,200
HOA$0
Property tax$8,170
Insurance (STR-rated)$11,449

Cash needed to close

Down payment (25%)$268,750
Closing costs (4.0%)$43,000
Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

Tax shield @ 32%$77,652

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

$914,000

Short-life (5/15-yr)

$221,000 · 24%

Year-1 deduction

$243,000

Year-1 tax shield @ 32%

$78,000

Land 15% (market default, no usable tax-record split) · building $693,000 over 39 years · new furniture $20,000

Based on: ~1,900 sq ft (from beds), built 2026, 3 bd / 3 ba, unfurnished, listing features (deck, fireplace, stone counters, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $135,000 in year 1 (12% short-life, $43,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$145,200

Kitchen cabinetsdefault
$10,000 new × 100% good × 2.32 allocation
$23,200
Kitchen countertops (stone)listing
$10,200 new × 100% good × 2.32 allocation
$23,700
Decorative trimdefault
$3,300 new × 100% good × 2.32 allocation
$7,700
Mirrorsdefault
$500 new × 100% good × 2.32 allocation
$1,000
Shelvingdefault
$1,200 new × 100% good × 2.32 allocation
$2,800
Window coverings (19)default
$4,800 new × 100% good × 2.32 allocation
$11,000
Carpet, vinyl & laminate (33% of floors)listing
$4,100 new × 100% good × 2.32 allocation
$9,500
Kitchen & laundry equipment plumbingdefault
$7,800 new × 100% good × 2.32 allocation
$18,000
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 100% good × 2.32 allocation
$10,900
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 100% good × 2.32 allocation
$17,900
Furniture bought newlisting
$19,500 new × 100% good · bought separately
$19,500

15-year land improvements$95,200

Paving: driveway & walks (paved)listing
$9,000 new × 100% good × 2.32 allocation
$21,000
Landscaping (typical)default
$8,700 new × 100% good × 2.32 allocation
$20,200
Patiosdefault
$1,900 new × 100% good × 2.32 allocation
$4,400
Decks & porches (attached)listing
$21,400 new × 100% good × 2.32 allocation
$49,700

Building, 39-year$692,800

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$206,000 new × 100% good × 2.32 allocation
$478,600
Building plumbing & fixturesdefault
$21,400 new × 100% good × 2.32 allocation
$49,700
Building electrical & lightingdefault
$21,400 new × 100% good × 2.32 allocation
$49,600
HVACdefault
$21,400 new × 100% good × 2.32 allocation
$49,700
Hardwood & tile floorsdefault
$8,200 new × 100% good × 2.32 allocation
$18,900
Fireplaces (3)listing
$7,900 new × 100% good × 2.32 allocation
$18,400
Septic systemlisting
$12,000 new × 100% good × 2.32 allocation
$27,900

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	$145,200	$95,200	$2,200	$242,700
2	$0	$0	$17,800	$17,800
3	$0	$0	$17,800	$17,800
4	$0	$0	$17,800	$17,800
5	$0	$0	$17,800	$17,800
6+	$0	$0	$619,500	$619,500
Total	$145,200	$95,200	$692,800	$933,200

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.