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254 Leatherwood Mountain Rd

254 Leatherwood Mountain Rd

Ellijay, GA 30540

$994,500

4 bd · 3.5 ba · 2,912 sqft · Listed 49d ago

View on Realtor.com →
Est. land %

Year built

2022

Sqft

2,912

Lot sqft

80,150

HOA / mo

$42

Furnished

No

List date

2026-09-24T19:09:08.000000Z

Revenue

Annual revenue

$58,346

ADR

$303

Occupancy

53%

Cleaning fees (12 mo)

$11,610

Confidence

Med (52), 13 comps

Comp revenue range (p25 / median / p75)

$28,099$40,440$46,091

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $40,440

  • Gated mountaintop retreat with expansive outdoor living, game tables, & hot tub

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0 ft

    Revenue $67,180ADR $319Occ ≈ 58%5★ (24)

    Delisted

  • Leatherwood Lodge- Hot Tub, Fireplace, Views!

    Cabin · 3 bd · 3 ba · sleeps 6 · 305 ft

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $46,091ADR $360Occ ≈ 35%4.8★ (13)

    AirbnbVrboBooking

  • Long Ridge Lodge Stay

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 315 ft

    • Hot tub
    • A/C
    • Wifi
    • Kitchen
    • +3

    Revenue $40,440ADR $342Occ ≈ 32%5★ (52)

    AirbnbVrboBooking

  • Views | HotTub | GameRm | EV Charger | Paved Rds

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +6

    Revenue $76,764ADR $300Occ ≈ 70%5★ (65)

    AirbnbVrbo

  • Secluded Mountain Retreat in the Blue Ridge, GA

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $33,743ADR $220Occ ≈ 42%4.9★ (100)

    AirbnbVrbo

  • Cabin•Gameroom•Family fun•Hot tub• spacious

    Cabin · 4 bd · 4 ba · sleeps 10 · 0.6 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $44,179ADR $309Occ ≈ 39%4.9★ (51)

    AirbnbVrboBooking

  • A Bird's Eye View - Pet-Friendly Cabin Mt Views

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $42,848ADR $261Occ ≈ 45%4.8★ (41)

    AirbnbVrboBooking

  • A Bird’s Eye View: Hot Tub & Scenic Views

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi

    Revenue $48,737ADR $254Occ ≈ 53%4.8★ (4)

    Delisted

  • A Rustic Reprieve in Blue Ridge | Black Stag Lodge

    Cabin · 5 bd · 3.5 ba · sleeps 10 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $14,114ADR $287Occ ≈ 13%5★ (2)

    AirbnbVrbo

  • Blue Ridge Bliss: Spacious Cabin, Pets, Hot Tub!

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.7 mi

    Revenue $26,855ADR $368Occ ≈ 20%4.4★ (80)

    AirbnbVrboBooking

Show 3 more

  • A Bird's Eye View - Pet-Friendly Cabin in Cherry Log

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $7,491ADR $241Occ ≈ 9%—

    Vrbo

  • Best of Blue Ridge | Hot Tub | Games | Pickleball

    House · 5 bd · 3 ba · sleeps 14 · 0.8 mi

    Revenue $28,099ADR $654Occ ≈ 12%5★ (3)

    AirbnbBooking

  • Stress Free Summit- Mtn Views, Hot Tub, Views!

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.8 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $37,067ADR $294Occ ≈ 35%4.9★ (8)

    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
Management

Est. revenue

$58,346

NOI

$22,481

Cash flow /mo

$1,873

Cash needed

$1,063,280

Cash-on-cash (all cash)

2.1%

ROE (yr 1)

4.9%

Cap rate

2.3%

DSCR

—

Year-1 write-off

$206,790

Year-1 tax shield @ 32%

$66,173

Year-1 return on equity

  • Cash flow (annual)$22,481
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$29,835
ROE4.9%

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)$11,669
  • Platform fees (3% of revenue)$1,750
  • Maintenance / capex (5% of revenue)$2,917
  • Utilities & supplies$4,200
  • HOA$504
  • Property tax$4,084
  • Insurance (STR-rated)$10,741

Cash needed to close

  • Purchase price (all cash)$994,500
  • Closing costs (4.0%)$39,780
  • Furnishing (bought new)$29,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$66,173

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

$845,000

Short-life (5/15-yr)

$176,000 · 21%

Year-1 deduction

$207,000

Year-1 tax shield @ 32%

$66,000

Land 15% (market default, no usable tax-record split) · building $670,000 over 39 years · new furniture $29,000

Based on: 2,912 sq ft, built 2022, 4 bd / 3.5 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $125,000 in year 1 (11% short-life, $40,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$114,900

  • Kitchen cabinetsdefault

    $12,200 new × 84% good × 1.61 allocation

    $16,500

  • Kitchen countertopsdefault

    $10,000 new × 84% good × 1.61 allocation

    $13,500

  • Decorative trimdefault

    $5,100 new × 84% good × 1.61 allocation

    $6,900

  • Mirrorsdefault

    $500 new × 67% good × 1.61 allocation

    $500

  • Shelvingdefault

    $1,500 new × 84% good × 1.61 allocation

    $2,000

  • Window coverings (29)default

    $7,300 new × 60% good × 1.61 allocation

    $7,000

  • Kitchen & laundry equipment plumbingdefault

    $9,500 new × 92% good × 1.61 allocation

    $14,100

  • Kitchen, laundry & data equipment electricaldefault

    $5,700 new × 92% good × 1.61 allocation

    $8,500

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

    $7,700 new × 67% good × 1.61 allocation

    $8,300

  • Hot tub (freestanding)listing

    $9,000 new × 60% good × 1.61 allocation

    $8,700

  • 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$89,700

  • Paving: driveway & walks (paved)default

    $11,200 new × 84% good × 1.61 allocation

    $15,100

  • Landscaping (typical)default

    $10,800 new × 84% good × 1.61 allocation

    $14,600

  • Patioslisting

    $13,100 new × 84% good × 1.61 allocation

    $17,700

  • Decks & porches (attached)listing

    $32,800 new × 80% good × 1.61 allocation

    $42,200
Building, 39-year$669,700

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

    $316,200 new × 93% good × 1.61 allocation

    $475,700

  • Building plumbing & fixturesdefault

    $32,800 new × 92% good × 1.61 allocation

    $48,700

  • Building electrical & lightingdefault

    $34,200 new × 92% good × 1.61 allocation

    $50,700

  • HVACdefault

    $32,800 new × 80% good × 1.61 allocation

    $42,300

  • Hardwood & tile floorsdefault

    $18,700 new × 84% good × 1.61 allocation

    $25,400

  • Fireplaces (3)listing

    $7,900 new × 84% good × 1.61 allocation

    $10,700

  • Septic systemlisting

    $12,000 new × 84% good × 1.61 allocation

    $16,200

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$114,900$89,700$2,100$206,800
2$0$0$17,200$17,200
3$0$0$17,200$17,200
4$0$0$17,200$17,200
5$0$0$17,200$17,200
6+$0$0$598,900$598,900
Total$114,900$89,700$669,700$874,300

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.