Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

824 Banks Rd

Ellijay, GA 30540

$675,000

4 bd · 3 ba · 3,300 sqft · Listed 10d ago

View on Realtor.com →

Est. land %Negative cash flow

Year built

2026

Sqft

3,300

Lot sqft

76,666

HOA / mo

Furnished

List date

2026-09-17T15:20:05.000000Z

Revenue

Annual revenue

$48,930

ADR

$323

Occupancy

42%

Cleaning fees (12 mo)

$9,066

Confidence

Low (46.06), 17 comps

Comp revenue range (p25 / median / p75)

$19,814$46,027$60,989

Tails Creek Cabin | Luxury 4BR | Hear the Water
Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.5 mi
Revenue $64,429ADR $365Occ ≈ 48%5★ (34)
Airbnb Vrbo
Foxridge Retreat New Cabin 2025! Ellijay, Ga
Cabin · 4 bd · 3 ba · sleeps 12 · 1.1 mi
Revenue $82,118ADR $416Occ ≈ 54%5★ (26)
Airbnb
Mountain Peak Lodge - Game Room
House · 4 bd · 3 ba · sleeps 10 · 1.6 mi
Revenue $42,739ADR $352Occ ≈ 33%4.5★ (9)
Airbnb Vrbo Booking
Blue Ridge/Ellijay: Mtn views, hot tub, foosball
Cabin · 4 bd · 3 ba · sleeps 10 · 1.7 mi
Revenue $46,027ADR $333Occ ≈ 38%5★ (48)
Airbnb Vrbo
Ellijay Cabin: Hot Tub, Bar, Game Room, Sleeps 10
Cabin · 4 bd · 3.5 ba · sleeps 10 · 1.7 mi
Revenue $60,989ADR $338Occ ≈ 49%5★ (128)
Airbnb Vrbo Booking
Whispering Pines -Stunning Luxury Brand New Log
Cabin · 4 bd · 4 ba · sleeps 8 · 1.8 mi
Revenue $36,660ADR $533Occ ≈ 19%—
Airbnb
Deer Hollow Sautee Cabin
Cabin · 4 bd · 3 ba · sleeps 10 · 1.9 mi
Revenue $3,645ADR $165Occ ≈ 6%4.9★ (21)
Airbnb
Glass Bridge Modern Masterpiece Blue Ridge Ellijay
House · 4 bd · 4 ba · sleeps 8 · 1.9 mi
Revenue $77,597ADR $502Occ ≈ 42%5★ (52)
Airbnb
Mountain Lookout View Firepit Hot tub & Fireplace
Cabin · 4 bd · 3 ba · sleeps 10 · 1.9 mi
Revenue $52,771ADR $266Occ ≈ 54%5★ (57)
Airbnb Vrbo
Private Pond and Creek on 5+ acres 10 mins to town
Cabin · 4 bd · 3.5 ba · sleeps 8 · 2.0 mi
Revenue $19,814ADR $594Occ ≈ 9%5★ (49)
Airbnb Vrbo Booking

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Tails Creek Cabin \| Luxury 4BR \| Hear the Water Cabin	4 bd · 3.5 ba · sleeps 8	$64,429	$365	48%	5★ (34)	0.5 mi	Airbnb Vrbo
Foxridge Retreat New Cabin 2025! Ellijay, Ga Cabin	4 bd · 3 ba · sleeps 12	$82,118	$416	54%	5★ (26)	1.1 mi	Airbnb
Mountain Peak Lodge - Game Room House	4 bd · 3 ba · sleeps 10	$42,739	$352	33%	4.5★ (9)	1.6 mi	Airbnb Vrbo Booking
Blue Ridge/Ellijay: Mtn views, hot tub, foosball Cabin	4 bd · 3 ba · sleeps 10	$46,027	$333	38%	5★ (48)	1.7 mi	Airbnb Vrbo
Ellijay Cabin: Hot Tub, Bar, Game Room, Sleeps 10 Cabin	4 bd · 3.5 ba · sleeps 10	$60,989	$338	49%	5★ (128)	1.7 mi	Airbnb Vrbo Booking
Whispering Pines -Stunning Luxury Brand New Log Cabin	4 bd · 4 ba · sleeps 8	$36,660	$533	19%	—	1.8 mi	Airbnb
Deer Hollow Sautee Cabin Cabin	4 bd · 3 ba · sleeps 10	$3,645	$165	6%	4.9★ (21)	1.9 mi	Airbnb
Glass Bridge Modern Masterpiece Blue Ridge Ellijay House	4 bd · 4 ba · sleeps 8	$77,597	$502	42%	5★ (52)	1.9 mi	Airbnb
Mountain Lookout View Firepit Hot tub & Fireplace Cabin	4 bd · 3 ba · sleeps 10	$52,771	$266	54%	5★ (57)	1.9 mi	Airbnb Vrbo
Private Pond and Creek on 5+ acres 10 mins to town Cabin	4 bd · 3.5 ba · sleeps 8	$19,814	$594	9%	5★ (49)	2.0 mi	Airbnb Vrbo Booking

Show all 17 comps

River Views + Fire Pit + Hot Tub + Pool Table
Cabin · 4 bd · 2 ba · sleeps 8 · 2.1 mi
Revenue $48,269ADR $293Occ ≈ 45%4.9★ (268)
Airbnb
Blessings Flow ~ 4BR Riverfront ~ Hot Tub,Fire Pit
House · 4 bd · 3.5 ba · sleeps 10 · 2.1 mi
Revenue $71,769ADR $565Occ ≈ 35%5★ (14)
Airbnb Vrbo
Rock the River Lodge
House · 4 bd · 3 ba · sleeps 10 · 2.2 mi
Revenue $35,265ADR $330Occ ≈ 29%4.6★ (9)
Airbnb Vrbo Booking
'Lakeside Paradise' in Ellijay: Hot Tub, Fire Pit
Cottage · 4 bd · 3 ba · sleeps 10 · 2.2 mi
Revenue $51,046ADR $333Occ ≈ 42%4.7★ (103)
Airbnb Vrbo Booking
Lofty Escape Retreat
Cabin · 4 bd · 3 ba · sleeps 8 · 2.2 mi
Revenue $13,725ADR $276Occ ≈ 14%4.5★ (29)
Airbnb Vrbo
Eagle Mountain River Retreat
Vacation home · 4 bd · 3 ba · sleeps 4 · 2.2 mi
Revenue $16,070ADR $200Occ ≈ 22%4.9★ (19)
Booking
Eagle Mountain River Retreat
House · 4 bd · 3 ba · sleeps 10 · 2.3 mi
Revenue $19,061ADR $254Occ ≈ 21%4.9★ (58)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
River Views + Fire Pit + Hot Tub + Pool Table Cabin	4 bd · 2 ba · sleeps 8	$48,269	$293	45%	4.9★ (268)	2.1 mi	Airbnb
Blessings Flow ~ 4BR Riverfront ~ Hot Tub,Fire Pit House	4 bd · 3.5 ba · sleeps 10	$71,769	$565	35%	5★ (14)	2.1 mi	Airbnb Vrbo
Rock the River Lodge House	4 bd · 3 ba · sleeps 10	$35,265	$330	29%	4.6★ (9)	2.2 mi	Airbnb Vrbo Booking
'Lakeside Paradise' in Ellijay: Hot Tub, Fire Pit Cottage	4 bd · 3 ba · sleeps 10	$51,046	$333	42%	4.7★ (103)	2.2 mi	Airbnb Vrbo Booking
Lofty Escape Retreat Cabin	4 bd · 3 ba · sleeps 8	$13,725	$276	14%	4.5★ (29)	2.2 mi	Airbnb Vrbo
Eagle Mountain River Retreat Vacation home	4 bd · 3 ba · sleeps 4	$16,070	$200	22%	4.9★ (19)	2.2 mi	Booking
Eagle Mountain River Retreat House	4 bd · 3 ba · sleeps 10	$19,061	$254	21%	4.9★ (58)	2.3 mi	Airbnb 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

Term

Purchase priceDown payment %30-yr rate %Already furnishedTax bracket

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$48,930

NOI

$18,272

Cash flow /mo

-$2,115

Cash needed

$224,750

Cash-on-cash

-11.3%

ROE (yr 1)

-0.3%

Cap rate

2.7%

DSCR

0.42

Year-1 write-off

$153,116

Year-1 tax shield @ 32%

$48,997

Year-1 return on equity

Cash flow (annual)-$25,376
Principal paydown$4,417
Appreciation at%$20,250

ROE-0.3%

ROE incl. year-1 tax savings (32% bracket, STR loophole)21.5%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$9,786
Platform fees (3% of revenue)$1,468
Maintenance / capex (5% of revenue)$2,447
Utilities & supplies$4,200
HOA$0
Property tax$5,468
Insurance (STR-rated)$7,290

Cash needed to close

Down payment (25%)$168,750
Closing costs (4.0%)$27,000
Furnishing (bought new)$29,000

Tax savings if the STR loophole applies

Tax shield @ 32%$48,997

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

$574,000

Short-life (5/15-yr)

$123,000 · 21%

Year-1 deduction

$153,000

Year-1 tax shield @ 32%

$49,000

Land 15% (market default, no usable tax-record split) · building $451,000 over 39 years · new furniture $29,000

Based on: 3,300 sq ft, built 2026, 4 bd / 3 ba, unfurnished, listing features (deck, game room, fireplace, stone counters, appliance list, septic).

IRS-guide safe-harbor floor: $89,000 in year 1 (10% short-life, $29,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$94,400

Kitchen cabinetsdefault
$13,000 new × 100% good × 0.90 allocation
$11,700
Kitchen countertops (stone)listing
$13,300 new × 100% good × 0.90 allocation
$12,000
Decorative trimdefault
$5,800 new × 100% good × 0.90 allocation
$5,200
Mirrorsdefault
$500 new × 100% good × 0.90 allocation
$400
Shelvingdefault
$1,500 new × 100% good × 0.90 allocation
$1,300
Window coverings (33)default
$8,300 new × 100% good × 0.90 allocation
$7,400
Carpet, vinyl & laminate (40% of floors)default
$8,500 new × 100% good × 0.90 allocation
$7,600
Kitchen & laundry equipment plumbingdefault
$10,100 new × 100% good × 0.90 allocation
$9,100
Kitchen, laundry & data equipment electricaldefault
$6,100 new × 100% good × 0.90 allocation
$5,500
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 100% good × 0.90 allocation
$5,100
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$57,300

Paving: driveway & walks (paved)default
$11,900 new × 100% good × 0.90 allocation
$10,700
Landscaping (typical)default
$11,500 new × 100% good × 0.90 allocation
$10,300
Patiosdefault
$3,300 new × 100% good × 0.90 allocation
$2,900
Decks & porches (attached)listing
$37,100 new × 100% good × 0.90 allocation
$33,400

Building, 39-year$451,100

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$358,600 new × 100% good × 0.90 allocation
$322,200
Building plumbing & fixturesdefault
$37,200 new × 100% good × 0.90 allocation
$33,400
Building electrical & lightingdefault
$39,100 new × 100% good × 0.90 allocation
$35,100
HVACdefault
$37,200 new × 100% good × 0.90 allocation
$33,400
Hardwood & tile floorsdefault
$12,700 new × 100% good × 0.90 allocation
$11,400
Fireplaces (2)listing
$5,300 new × 100% good × 0.90 allocation
$4,700
Septic systemlisting
$12,000 new × 100% good × 0.90 allocation
$10,800

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$94,400	$57,300	$1,400	$153,100
2	$0	$0	$11,600	$11,600
3	$0	$0	$11,600	$11,600
4	$0	$0	$11,600	$11,600
5	$0	$0	$11,600	$11,600
6+	$0	$0	$403,400	$403,400
Total	$94,400	$57,300	$451,100	$602,800

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.