13922 Hemlock Pkwy
Logan, OH 43138
$389,900
4 bd · 2.5 ba · 2,056 sqft · Listed 6d ago
View on Realtor.com →Year built
—
Sqft
2,056
Lot sqft
10,890
HOA / mo
None
Furnished
No
List date
2026-09-23T14:16:14.000000Z
Revenue
Annual revenue
$73,366
ADR
$558
Occupancy
36%
Cleaning fees (12 mo)
$9,542
Confidence
Low (35.86), 5 comps
Comp revenue range (p25 / median / p75)
Scotts Creek Cabins - Hem Loch
Cabin · 3 bd · 1 ba · sleeps 12 · 0.3 mi
Revenue $77,429ADR $762Occ ≈ 28%4.8★ (31)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Scotts Creek Cabins - Hem Loch Cabin | 3 bd · 1 ba · sleeps 12 | $77,429 | $762 | 28% | 4.8★ (31) | 0.3 mi | Airbnb |
Scotts Creek Cabins - Valleyview Cabin | 3 bd · 2 ba · sleeps 10 | $39,509 | $453 | 24% | 5★ (9) | 0.4 mi | AirbnbVrbo |
Pickle Hill - pool, pickleball court, sleeps 10! House | 5 bd · 2 ba · sleeps 10 | $128,688 | $754 | 47% | 5★ (136) | 0.5 mi | AirbnbVrbo |
Wildwood Cabin Sports and Fun Cabin | 4 bd · 2 ba · sleeps 8 | $16,948 | $313 | 15% | 5★ (5) | 0.5 mi | AirbnbVrboBooking |
Hocking Hills 125 Acre, Pet Friendly, 62Jet HotTub Cabin | 3 bd · 2.5 ba · sleeps 10 | $67,499 | $445 | 42% | 4.8★ (123) | 0.6 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
$73,366
NOI
$44,936
Cash flow /mo
$1,644
Cash needed
$136,071
Cash-on-cash
14.5%
ROE (yr 1)
25.0%
Cap rate
11.5%
DSCR
1.78
Year-1 write-off
$91,798
Year-1 tax shield @ 32%
$29,375
Year-1 return on equity
- Cash flow (annual)$19,724
- Principal paydown$2,551
- Appreciation at%$11,697
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$14,673
- Platform fees (3% of revenue)$2,201
- Maintenance / capex (5% of revenue)$3,668
- Utilities & supplies$4,200
- HOA$0
- Property tax$529
- Insurance (STR-rated)$3,158
Cash needed to close
- Down payment (25%)$97,475
- Closing costs (4.0%)$15,596
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$29,375
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
$312,000
Short-life (5/15-yr)
$68,000 · 22%
Year-1 deduction
$92,000
Year-1 tax shield @ 32%
$29,000
Land 20% (market default, no usable tax-record split) · building $244,000 over 39 years · new furniture $23,000
Based on: 2,056 sq ft, age unknown, 4 bd / 2.5 ba, unfurnished, listing features (none cost-relevant).
IRS-guide safe-harbor floor: $70,000 in year 1 (15% short-life, $22,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,400
Kitchen cabinetsdefault
$10,300 new × 40% good × 2.03 allocation
- $6,800
Kitchen countertopsdefault
$8,400 new × 40% good × 2.03 allocation
- $2,900
Decorative trimdefault
$3,600 new × 40% good × 2.03 allocation
- $200
Mirrorsdefault
$300 new × 40% good × 2.03 allocation
- $1,200
Shelvingdefault
$1,500 new × 40% good × 2.03 allocation
- $4,300
Window coverings (21)default
$5,300 new × 40% good × 2.03 allocation
- $4,300
Carpet, vinyl & laminate (40% of floors)default
$5,300 new × 40% good × 2.03 allocation
- $6,500
Kitchen & laundry equipment plumbingdefault
$8,000 new × 40% good × 2.03 allocation
- $3,900
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 40% good × 2.03 allocation
- $6,600
Appliances (range, microwave, dishwasher, disposal, refrigerator, washer, dryer)default
$8,100 new × 40% good × 2.03 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $9,500
Paving: driveway & walks (paved)default
$9,400 new × 50% good × 2.03 allocation
- $9,200
Landscaping (typical)default
$9,000 new × 50% good × 2.03 allocation
- $2,100
Patiosdefault
$2,000 new × 50% good × 2.03 allocation
- $2,100
Decks & porches (attached)default
$2,000 new × 50% good × 2.03 allocation
- $180,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$222,800 new × 40% good × 2.03 allocation
- $18,800
Building plumbing & fixturesdefault
$23,100 new × 40% good × 2.03 allocation
- $18,900
Building electrical & lightingdefault
$23,300 new × 40% good × 2.03 allocation
- $18,800
HVACdefault
$23,200 new × 40% good × 2.03 allocation
- $6,400
Hardwood & tile floorsdefault
$7,900 new × 40% good × 2.03 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $68,200 | $22,800 | $800 | $91,800 |
| 2 | $0 | $0 | $6,300 | $6,300 |
| 3 | $0 | $0 | $6,300 | $6,300 |
| 4 | $0 | $0 | $6,300 | $6,300 |
| 5 | $0 | $0 | $6,300 | $6,300 |
| 6+ | $0 | $0 | $218,100 | $218,100 |
| Total | $68,200 | $22,800 | $243,900 | $334,900 |
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: California and Georgia disallow bonus depreciation, Ohio adds back 5/6 of it, and Tennessee has no personal income tax. Not tax advice.
Market note
Hocking County STR ordinance pending (annual permit, inspection, $1M liability insurance, driveway standards). Steep/gravel driveways are a cost risk.