236 Logan Dr
Mineral Bluff, GA 30559
$769,000
4 bd · 3 ba · 2,372 sqft · Listed 3d ago
View on Realtor.com →Year built
2007
Sqft
2,372
Lot sqft
54,450
HOA / mo
None
Furnished
Yes
List date
2026-09-24T17:49:01.000000Z
Revenue
Annual revenue
$50,377
ADR
$361
Occupancy
38%
Cleaning fees (12 mo)
$8,693
Confidence
High (71.13), 9 comps
Comp revenue range (p25 / median / p75)
Cardinal Lodge
Vacation home · 4 bd · 3 ba · sleeps 10 · 384 ft
Revenue $38,434ADR $396Occ ≈ 27%—
The Wizard Hideout - Immersive Wizard-Themed Cabin for Groups Near Blue Ridge
Cabin · 4 bd · 3 ba · sleeps 8 · 0.7 mi
Revenue $24,868ADR $460Occ ≈ 15%5★
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Mountain views|Playground|Near River|Pets welcome! Cabin | 4 bd · 3 ba · sleeps 11 | $47,891 | $260 | 50% | 4.7★ (82) | 220 ft | AirbnbVrboBooking |
Dogs-Fence-13 Min Dwntn-Hot Tub-FirePit-Game Room House | 4 bd · 3 ba · sleeps 8 | $42,832 | $290 | 40% | 5★ (96) | 299 ft | AirbnbVrbo |
Cardinal Lodge Vacation home | 4 bd · 3 ba · sleeps 10 | $38,434 | $396 | 27% | — | 384 ft | Booking |
Luxurious Mountain Getaway w/ Game Room + Hot Tub! Cabin | 4 bd · 4 ba · sleeps 8 | $69,094 | $467 | 41% | 5★ (110) | 436 ft | AirbnbVrboBooking |
Cardinal Lodge - Elevated Luxury, Minutes From Fun Cabin | 4 bd · 3 ba · sleeps 10 | $43,506 | $488 | 24% | 5★ (4) | 443 ft | AirbnbVrbo |
Deer Crosing Luxury Blue Ridge Cabin Cabin | 4 bd · 4 ba · sleeps 10 | $59,205 | $550 | 29% | 5★ (1) | 0.2 mi | AirbnbVrbo |
Hooked on a Feeling- Hot Tub, Fireplace, Pet! House | 4 bd · 3 ba · sleeps 10 | $40,837 | $415 | 27% | 4.9★ (12) | 0.3 mi | AirbnbVrboBooking |
The Wizard Hideout Cabin | 4 bd · 2.5 ba · sleeps 8 | $63,020 | $420 | 41% | 5★ (17) | 0.6 mi | AirbnbVrbo |
The Wizard Hideout - Immersive Wizard-Themed Cabin for Groups Near Blue Ridge Cabin | 4 bd · 3 ba · sleeps 8 | $24,868 | $460 | 15% | 5★ | 0.7 mi | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$50,377
NOI
$21,906
Cash flow /mo
-$2,318
Cash needed
$223,010
Cash-on-cash
-12.5%
ROE (yr 1)
0.1%
Cap rate
2.8%
DSCR
0.44
Year-1 write-off
$146,095
Year-1 tax shield @ 32%
$46,750
Year-1 return on equity
- Cash flow (annual)-$27,821
- Principal paydown$5,032
- Appreciation at%$23,070
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$10,075
- Platform fees (3% of revenue)$1,511
- Maintenance / capex (5% of revenue)$2,519
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,976
- Insurance (STR-rated)$8,190
Cash needed to close
- Down payment (25%)$192,250
- Closing costs (4.0%)$30,760
- Furnishing (conveyed with the sale)$0
Tax savings if the STR loophole applies
- Tax shield @ 32%$46,750
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
$730,000
Short-life (5/15-yr)
$144,000 · 20%
Year-1 deduction
$146,000
Year-1 tax shield @ 32%
$47,000
Land 5% (county tax record, market value split) · building $586,000 over 39 years
Based on: 2,372 sq ft, built 2007, 4 bd / 3 ba, furnished, listing features (hot tub, deck, fence, game room, fireplace, flooring types, appliance list, septic, wooded lot).
IRS-guide safe-harbor floor: $86,000 in year 1 (12% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,100
Kitchen cabinetsdefault
$11,000 new × 40% good × 2.51 allocation
- $9,100
Kitchen countertopsdefault
$9,000 new × 40% good × 2.51 allocation
- $4,200
Decorative trimdefault
$4,200 new × 40% good × 2.51 allocation
- $500
Mirrorsdefault
$500 new × 40% good × 2.51 allocation
- $1,500
Shelvingdefault
$1,500 new × 40% good × 2.51 allocation
- $6,000
Window coverings (24)default
$6,000 new × 40% good × 2.51 allocation
- $13,300
Kitchen & laundry equipment plumbingdefault
$8,600 new × 62% good × 2.51 allocation
- $8,100
Kitchen, laundry & data equipment electricaldefault
$5,200 new × 62% good × 2.51 allocation
- $7,000
Appliances (range, dishwasher, refrigerator, washer, dryer)listing
$7,000 new × 40% good × 2.51 allocation
- $9,100
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.51 allocation
- $9,200
Furniture conveyed with the sale (used)listing
$23,000 new × 40% good · out of the price
- $2,400
Game-room equipment (used)listing
$6,000 new × 40% good · out of the price
- $12,700
Paving: driveway & walks (paved)default
$10,100 new × 50% good × 2.51 allocation
- $6,100
Landscaping (minimal)listing
$4,900 new × 50% good × 2.51 allocation
- $2,900
Patiosdefault
$2,300 new × 50% good × 2.51 allocation
- $33,500
Decks & porches (attached)listing
$26,700 new × 50% good × 2.51 allocation
- $7,500
Fencinglisting
$6,000 new × 50% good × 2.51 allocation
- $441,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$257,200 new × 68% good × 2.51 allocation
- $41,700
Building plumbing & fixturesdefault
$26,700 new × 62% good × 2.51 allocation
- $42,600
Building electrical & lightingdefault
$27,300 new × 62% good × 2.51 allocation
- $26,900
HVACdefault
$26,700 new × 40% good × 2.51 allocation
- $15,400
Hardwood & tile floorsdefault
$15,300 new × 40% good × 2.51 allocation
- $2,600
Fireplacelisting
$2,600 new × 40% good × 2.51 allocation
- $15,100
Septic systemlisting
$12,000 new × 50% good × 2.51 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $81,400 | $62,800 | $1,900 | $146,100 |
| 2 | $0 | $0 | $15,000 | $15,000 |
| 3 | $0 | $0 | $15,000 | $15,000 |
| 4 | $0 | $0 | $15,000 | $15,000 |
| 5 | $0 | $0 | $15,000 | $15,000 |
| 6+ | $0 | $0 | $524,200 | $524,200 |
| Total | $81,400 | $62,800 | $586,200 | $730,400 |
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.