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236 Logan Dr

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)

$40,837$43,506$59,205

  • Mountain views|Playground|Near River|Pets welcome!

    Cabin · 4 bd · 3 ba · sleeps 11 · 220 ft

    Revenue $47,891ADR $260Occ ≈ 50%4.7★ (82)

    AirbnbVrboBooking

  • Dogs-Fence-13 Min Dwntn-Hot Tub-FirePit-Game Room

    House · 4 bd · 3 ba · sleeps 8 · 299 ft

    Revenue $42,832ADR $290Occ ≈ 40%5★ (96)

    AirbnbVrbo

  • Cardinal Lodge

    Vacation home · 4 bd · 3 ba · sleeps 10 · 384 ft

    Revenue $38,434ADR $396Occ ≈ 27%—

    Booking

  • Luxurious Mountain Getaway w/ Game Room + Hot Tub!

    Cabin · 4 bd · 4 ba · sleeps 8 · 436 ft

    Revenue $69,094ADR $467Occ ≈ 41%5★ (110)

    AirbnbVrboBooking

  • Cardinal Lodge - Elevated Luxury, Minutes From Fun

    Cabin · 4 bd · 3 ba · sleeps 10 · 443 ft

    Revenue $43,506ADR $488Occ ≈ 24%5★ (4)

    AirbnbVrbo

  • Deer Crosing Luxury Blue Ridge Cabin

    Cabin · 4 bd · 4 ba · sleeps 10 · 0.2 mi

    Revenue $59,205ADR $550Occ ≈ 29%5★ (1)

    AirbnbVrbo

  • Hooked on a Feeling- Hot Tub, Fireplace, Pet!

    House · 4 bd · 3 ba · sleeps 10 · 0.3 mi

    Revenue $40,837ADR $415Occ ≈ 27%4.9★ (12)

    AirbnbVrboBooking

  • The Wizard Hideout

    Cabin · 4 bd · 2.5 ba · sleeps 8 · 0.6 mi

    Revenue $63,020ADR $420Occ ≈ 41%5★ (17)

    AirbnbVrbo

  • 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★

    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

Financing

Est. revenue

$50,377

NOI

$21,906

Cash flow /mo

$1,825

Cash needed

$799,760

Cash-on-cash (all cash)

2.7%

ROE (yr 1)

5.6%

Cap rate

2.8%

DSCR

—

Year-1 write-off

$146,095

Year-1 tax shield @ 32%

$46,750

Year-1 return on equity

  • Cash flow (annual)$21,906
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$23,070
ROE5.6%
ROE incl. year-1 tax savings (32% bracket, STR loophole)11.5%
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

  • Purchase price (all cash)$769,000
  • 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.

5-year property$81,400

  • Kitchen cabinetsdefault

    $11,000 new × 40% good × 2.51 allocation

    $11,100

  • Kitchen countertopsdefault

    $9,000 new × 40% good × 2.51 allocation

    $9,100

  • Decorative trimdefault

    $4,200 new × 40% good × 2.51 allocation

    $4,200

  • Mirrorsdefault

    $500 new × 40% good × 2.51 allocation

    $500

  • Shelvingdefault

    $1,500 new × 40% good × 2.51 allocation

    $1,500

  • Window coverings (24)default

    $6,000 new × 40% good × 2.51 allocation

    $6,000

  • Kitchen & laundry equipment plumbingdefault

    $8,600 new × 62% good × 2.51 allocation

    $13,300

  • Kitchen, laundry & data equipment electricaldefault

    $5,200 new × 62% good × 2.51 allocation

    $8,100

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

    $7,000 new × 40% good × 2.51 allocation

    $7,000

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.51 allocation

    $9,100

  • Furniture conveyed with the sale (used)listing

    $23,000 new × 40% good · out of the price

    $9,200

  • Game-room equipment (used)listing

    $6,000 new × 40% good · out of the price

    $2,400
15-year land improvements$62,800

  • Paving: driveway & walks (paved)default

    $10,100 new × 50% good × 2.51 allocation

    $12,700

  • Landscaping (minimal)listing

    $4,900 new × 50% good × 2.51 allocation

    $6,100

  • Patiosdefault

    $2,300 new × 50% good × 2.51 allocation

    $2,900

  • Decks & porches (attached)listing

    $26,700 new × 50% good × 2.51 allocation

    $33,500

  • Fencinglisting

    $6,000 new × 50% good × 2.51 allocation

    $7,500
Building, 39-year$586,200

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

    $257,200 new × 68% good × 2.51 allocation

    $441,900

  • Building plumbing & fixturesdefault

    $26,700 new × 62% good × 2.51 allocation

    $41,700

  • Building electrical & lightingdefault

    $27,300 new × 62% good × 2.51 allocation

    $42,600

  • HVACdefault

    $26,700 new × 40% good × 2.51 allocation

    $26,900

  • Hardwood & tile floorsdefault

    $15,300 new × 40% good × 2.51 allocation

    $15,400

  • Fireplacelisting

    $2,600 new × 40% good × 2.51 allocation

    $2,600

  • Septic systemlisting

    $12,000 new × 50% good × 2.51 allocation

    $15,100

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.