450 Jakes Landing Way S
Ellijay, GA 30540
$369,000
2 bd · 1 ba · 969 sqft · Listed 22d ago
View on Realtor.com →Year built
2023
Sqft
969
Lot sqft
37,897
HOA / mo
None
Furnished
No
List date
2026-09-05T13:30:13.000000Z
Revenue
Annual revenue
$31,355
ADR
$204
Occupancy
42%
Cleaning fees (12 mo)
$7,454
Confidence
Med (53.3), 9 comps
Comp revenue range (p25 / median / p75)
Charli's Place, Private Lux Cabin, Hot Tub, Caters Lake, MT Views, Sunrise-Sunset
Vacation home · 2 bd · 2 ba · sleeps 8 · 0.2 mi
Revenue $12,901ADR $208Occ ≈ 17%—
Unique cozy cabin - Family Fun-Game room
Cabin · 2 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $48,156ADR $227Occ ≈ 58%4.8★ (261)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Fireside Chalet | Ellijay, GA Cabin | 2 bd · 1 ba · sleeps 4 | $33,077 | $268 | 34% | 4.8★ (17) | 312 ft | AirbnbVrbo |
Mountain Modern Cabin Cabin | 2 bd · 2 ba · sleeps 4 | $26,746 | $176 | 42% | — | 407 ft | Airbnb |
Mtn‑View Cabin w/ Game Room, Hot Tub & Fire Pit Cottage | 2 bd · 2 ba · sleeps 6 | $27,195 | $236 | 32% | 5★ (51) | 0.2 mi | AirbnbVrboBooking |
Mountain Escape with Hot Tub | Game Room | Trails Cottage | 2 bd · 2 ba · sleeps 6 | $5,243 | $285 | 5% | 4.9★ (11) | 0.2 mi | AirbnbVrbo |
Charli's Place, Private Lux Cabin, Hot Tub, Caters Lake, MT Views, Sunrise-Sunset Vacation home | 2 bd · 2 ba · sleeps 8 | $12,901 | $208 | 17% | — | 0.2 mi | Booking |
Private Cabin on Carters Lake, Hot Tub, Mtviews Cabin | 2 bd · 2 ba · sleeps 6 | $26,477 | $272 | 27% | 4.9★ (58) | 0.2 mi | AirbnbVrboBooking |
Modern Mountain Luxury w/ Hot tub, Hammock & BBQ Cabin | 2 bd · 2 ba · sleeps 8 | $41,597 | $243 | 47% | 5★ (36) | 0.2 mi | AirbnbVrbo |
French Kisses, Hot Tub, New Build, Carter's Lake Cabin | 2 bd · 1 ba · sleeps 4 | $32,079 | $280 | 31% | 5★ (17) | 0.3 mi | AirbnbVrboBooking |
Unique cozy cabin - Family Fun-Game room Cabin | 2 bd · 2 ba · sleeps 6 | $48,156 | $227 | 58% | 4.8★ (261) | 0.6 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 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$31,355
NOI
$11,951
Cash flow /mo
-$992
Cash needed
$123,010
Cash-on-cash
-9.7%
ROE (yr 1)
1.3%
Cap rate
3.2%
DSCR
0.50
Year-1 write-off
$103,317
Year-1 tax shield @ 32%
$33,061
Year-1 return on equity
- Cash flow (annual)-$11,910
- Principal paydown$2,415
- Appreciation at%$11,070
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$6,271
- Platform fees (3% of revenue)$941
- Maintenance / capex (5% of revenue)$1,568
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,439
- Insurance (STR-rated)$3,985
Cash needed to close
- Down payment (25%)$92,250
- Closing costs (4.0%)$14,760
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$33,061
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
$319,000
Short-life (5/15-yr)
$87,000 · 27%
Year-1 deduction
$103,000
Year-1 tax shield @ 32%
$33,000
Land 14% (county tax record, market value split) · building $232,000 over 39 years · new furniture $16,000
Based on: 969 sq ft, built 2023, 2 bd / 1 ba, unfurnished, listing features (deck, fireplace, stone counters, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $63,000 in year 1 (14% short-life, $20,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,100
Kitchen cabinetsdefault
$7,900 new × 88% good × 1.59 allocation
- $11,300
Kitchen countertops (stone)listing
$8,100 new × 88% good × 1.59 allocation
- $2,400
Decorative trimdefault
$1,700 new × 88% good × 1.59 allocation
- $200
Mirrorsdefault
$200 new × 75% good × 1.59 allocation
- $1,300
Shelvingdefault
$900 new × 88% good × 1.59 allocation
- $2,800
Window coverings (10)default
$2,500 new × 70% good × 1.59 allocation
- $9,200
Kitchen & laundry equipment plumbingdefault
$6,200 new × 94% good × 1.59 allocation
- $5,600
Kitchen, laundry & data equipment electricaldefault
$3,700 new × 94% good × 1.59 allocation
- $9,200
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 75% good × 1.59 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $9,000
Paving: driveway & walks (paved)default
$6,500 new × 88% good × 1.59 allocation
- $8,700
Landscaping (typical)default
$6,200 new × 88% good × 1.59 allocation
- $1,300
Patiosdefault
$1,000 new × 88% good × 1.59 allocation
- $14,700
Decks & porches (attached)listing
$10,900 new × 85% good × 1.59 allocation
- $158,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$104,800 new × 95% good × 1.59 allocation
- $16,200
Building plumbing & fixturesdefault
$10,800 new × 94% good × 1.59 allocation
- $14,200
Building electrical & lightingdefault
$9,600 new × 94% good × 1.59 allocation
- $14,700
HVACdefault
$10,900 new × 85% good × 1.59 allocation
- $8,700
Hardwood & tile floorsdefault
$6,200 new × 88% good × 1.59 allocation
- $3,700
Fireplacelisting
$2,600 new × 88% good × 1.59 allocation
- $16,800
Septic systemlisting
$12,000 new × 88% good × 1.59 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $68,900 | $33,700 | $700 | $103,300 |
| 2 | $0 | $0 | $6,000 | $6,000 |
| 3 | $0 | $0 | $6,000 | $6,000 |
| 4 | $0 | $0 | $6,000 | $6,000 |
| 5 | $0 | $0 | $6,000 | $6,000 |
| 6+ | $0 | $0 | $207,700 | $207,700 |
| Total | $68,900 | $33,700 | $232,200 | $334,800 |
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.