254 Leatherwood Mountain Rd
Ellijay, GA 30540
$994,500
4 bd · 3.5 ba · 2,912 sqft · Listed 3d ago
View on Realtor.com →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)
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)
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)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Gated mountaintop retreat with expansive outdoor living, game tables, & hot tub Cabin | 4 bd · 3.5 ba · sleeps 10 | $67,180 | $319 | 58% | 5★ (24) | 0 ft | Vrbo |
Leatherwood Lodge- Hot Tub, Fireplace, Views! Cabin | 3 bd · 3 ba · sleeps 6 | $46,091 | $360 | 35% | 4.8★ (13) | 305 ft | AirbnbVrboBooking |
Long Ridge Lodge Stay Cabin | 4 bd · 3.5 ba · sleeps 10 | $40,440 | $342 | 32% | 5★ (52) | 315 ft | AirbnbVrboBooking |
Views | HotTub | GameRm | EV Charger | Paved Rds Cabin | 3 bd · 3 ba · sleeps 6 | $76,764 | $300 | 70% | 5★ (65) | 0.2 mi | AirbnbVrbo |
Secluded Mountain Retreat in the Blue Ridge, GA Cabin | 3 bd · 3 ba · sleeps 6 | $33,743 | $220 | 42% | 4.9★ (100) | 0.6 mi | AirbnbVrbo |
Cabin•Gameroom•Family fun•Hot tub• spacious Cabin | 4 bd · 4 ba · sleeps 10 | $44,179 | $309 | 39% | 4.9★ (51) | 0.6 mi | AirbnbVrboBooking |
A Bird's Eye View - Pet-Friendly Cabin Mt Views Cabin | 3 bd · 3 ba · sleeps 6 | $42,848 | $261 | 45% | 4.8★ (41) | 0.7 mi | AirbnbVrboBooking |
A Bird’s Eye View: Hot Tub & Scenic Views Cabin | 3 bd · 3 ba · sleeps 6 | $48,737 | $254 | 53% | 4.8★ (4) | 0.7 mi | Airbnb |
A Rustic Reprieve in Blue Ridge | Black Stag Lodge Cabin | 5 bd · 3.5 ba · sleeps 10 | $14,114 | $287 | 13% | 5★ (2) | 0.7 mi | AirbnbVrbo |
Blue Ridge Bliss: Spacious Cabin, Pets, Hot Tub! Cabin | 4 bd · 3.5 ba · sleeps 10 | $26,855 | $368 | 20% | 4.4★ (80) | 0.7 mi | AirbnbVrboBooking |
Show all 13 comps
A Bird's Eye View - Pet-Friendly Cabin in Cherry Log
Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi
Revenue $7,491ADR $241Occ ≈ 9%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
A Bird's Eye View - Pet-Friendly Cabin in Cherry Log Cabin | 3 bd · 3 ba · sleeps 6 | $7,491 | $241 | 9% | — | 0.7 mi | Vrbo |
Best of Blue Ridge | Hot Tub | Games | Pickleball House | 5 bd · 3 ba · sleeps 14 | $28,099 | $654 | 12% | 5★ (3) | 0.8 mi | AirbnbVrboBooking |
Stress Free Summit- Mtn Views, Hot Tub, Views! Cabin | 3 bd · 3 ba · sleeps 6 | $37,067 | $294 | 35% | 4.9★ (8) | 0.8 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
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
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).
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.
- $16,500
Kitchen cabinetsdefault
$12,200 new × 84% good × 1.61 allocation
- $13,500
Kitchen countertopsdefault
$10,000 new × 84% good × 1.61 allocation
- $6,900
Decorative trimdefault
$5,100 new × 84% good × 1.61 allocation
- $500
Mirrorsdefault
$500 new × 67% good × 1.61 allocation
- $2,000
Shelvingdefault
$1,500 new × 84% good × 1.61 allocation
- $7,000
Window coverings (29)default
$7,300 new × 60% good × 1.61 allocation
- $14,100
Kitchen & laundry equipment plumbingdefault
$9,500 new × 92% good × 1.61 allocation
- $8,500
Kitchen, laundry & data equipment electricaldefault
$5,700 new × 92% good × 1.61 allocation
- $8,300
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 67% good × 1.61 allocation
- $8,700
Hot tub (freestanding)listing
$9,000 new × 60% good × 1.61 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $15,100
Paving: driveway & walks (paved)default
$11,200 new × 84% good × 1.61 allocation
- $14,600
Landscaping (typical)default
$10,800 new × 84% good × 1.61 allocation
- $17,700
Patioslisting
$13,100 new × 84% good × 1.61 allocation
- $42,200
Decks & porches (attached)listing
$32,800 new × 80% good × 1.61 allocation
- $475,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$316,200 new × 93% good × 1.61 allocation
- $48,700
Building plumbing & fixturesdefault
$32,800 new × 92% good × 1.61 allocation
- $50,700
Building electrical & lightingdefault
$34,200 new × 92% good × 1.61 allocation
- $42,300
HVACdefault
$32,800 new × 80% good × 1.61 allocation
- $25,400
Hardwood & tile floorsdefault
$18,700 new × 84% good × 1.61 allocation
- $10,700
Fireplaces (3)listing
$7,900 new × 84% good × 1.61 allocation
- $16,200
Septic systemlisting
$12,000 new × 84% good × 1.61 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 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: 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.