326 Honeysuckle Way
Blue Ridge, GA 30513
$449,900
2 bd · 2 ba · 1,872 sqft · Listed 17d ago
View on Realtor.com →Year built
1998
Sqft
1,872
Lot sqft
52,708
HOA / mo
$42
Furnished
No
List date
2026-09-10T21:03:13.000000Z
Revenue
Annual revenue
$33,521
ADR
$189
Occupancy
49%
Cleaning fees (12 mo)
$8,514
Confidence
Low (39.9), 8 comps
Comp revenue range (p25 / median / p75)
Cozy Cabin Oasis
Cabin · 2 bd · 1 ba · sleeps 6 · 0.1 mi
Revenue $31,681ADR $184Occ ≈ 47%4.9★ (90)
Affordable. Private Mountain Get-A-Way -- Good Wi Fi
Cabin · 2 bd · 1 ba · sleeps 4 · 0.7 mi
Revenue $27,156ADR $148Occ ≈ 50%4.9★ (324)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Cozy Cabin Oasis Cabin | 2 bd · 1 ba · sleeps 6 | $31,681 | $184 | 47% | 4.9★ (90) | 0.1 mi | Airbnb |
Woodland Escape Cabin | 2 bd · 2 ba · sleeps 4 | $18,343 | $296 | 17% | 5★ (1) | 0.2 mi | AirbnbBooking |
Beautiful Real Log Cabin-Blue Ridge Cabin | 2 bd · 1 ba · sleeps 4 | $31,070 | $159 | 54% | 4.9★ (355) | 0.3 mi | AirbnbVrbo |
Peace of Aska w/ Hot Tub House | 2 bd · 1 ba · sleeps 8 | $146 | $146 | 0% | — | 0.3 mi | AirbnbVrboBooking |
'Peace of Aska' Cabin w/ Hot Tub & Fire Pit! Cabin | 2 bd · 1 ba · sleeps 8 | $13,207 | $240 | 15% | 5★ (1) | 0.3 mi | AirbnbVrboBooking |
Hot Tub, Porch Swing Bed, Fire Pit, Aska Adventure Cabin | 2 bd · 1 ba · sleeps 6 | $33,024 | $184 | 49% | 4.9★ (312) | 0.3 mi | AirbnbVrboBooking |
Affordable. Private Mountain Get-A-Way -- Good Wi Fi Cabin | 2 bd · 1 ba · sleeps 4 | $27,156 | $148 | 50% | 4.9★ (324) | 0.7 mi | Vrbo |
Just One More Night is a lovely creek-front cabin Cabin | 2 bd · 2 ba · sleeps 4 | $52,314 | $252 | 57% | 4.8★ (11) | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$33,521
NOI
$11,220
Cash flow /mo
-$1,489
Cash needed
$152,471
Cash-on-cash
-11.7%
ROE (yr 1)
-0.9%
Cap rate
2.5%
DSCR
0.39
Year-1 write-off
$99,949
Year-1 tax shield @ 32%
$31,984
Year-1 return on equity
- Cash flow (annual)-$17,872
- Principal paydown$2,944
- Appreciation at%$13,497
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$6,704
- Platform fees (3% of revenue)$1,006
- Maintenance / capex (5% of revenue)$1,676
- Utilities & supplies$4,200
- HOA$504
- Property tax$3,419
- Insurance (STR-rated)$4,791
Cash needed to close
- Down payment (25%)$112,475
- Closing costs (4.0%)$17,996
- Furnishing (bought new)$22,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$31,984
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
$382,000
Short-life (5/15-yr)
$77,000 · 20%
Year-1 deduction
$100,000
Year-1 tax shield @ 32%
$32,000
Land 15% (market default, no usable tax-record split) · building $305,000 over 39 years · new furniture $22,000
Based on: 1,872 sq ft, built 1998, 2 bd / 2 ba, unfurnished, listing features (deck, game room, fireplace, flooring types, appliance list, septic, wooded lot).
IRS-guide safe-harbor floor: $60,000 in year 1 (10% short-life, $19,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,200
Kitchen cabinetsdefault
$9,900 new × 40% good × 2.07 allocation
- $6,700
Kitchen countertopsdefault
$8,100 new × 40% good × 2.07 allocation
- $2,700
Decorative trimdefault
$3,300 new × 40% good × 2.07 allocation
- $200
Mirrorsdefault
$300 new × 40% good × 2.07 allocation
- $700
Shelvingdefault
$900 new × 40% good × 2.07 allocation
- $3,900
Window coverings (19)default
$4,800 new × 40% good × 2.07 allocation
- $7,000
Kitchen & laundry equipment plumbingdefault
$7,700 new × 44% good × 2.07 allocation
- $4,300
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 44% good × 2.07 allocation
- $5,600
Appliances (range, microwave, refrigerator, washer, dryer)listing
$6,700 new × 40% good × 2.07 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $9,300
Paving: driveway & walks (paved)default
$9,000 new × 50% good × 2.07 allocation
- $4,500
Landscaping (minimal)listing
$4,300 new × 50% good × 2.07 allocation
- $1,900
Patiosdefault
$1,800 new × 50% good × 2.07 allocation
- $21,800
Decks & porches (attached)listing
$21,100 new × 50% good × 2.07 allocation
- $224,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$203,300 new × 53% good × 2.07 allocation
- $19,200
Building plumbing & fixturesdefault
$21,100 new × 44% good × 2.07 allocation
- $19,200
Building electrical & lightingdefault
$21,000 new × 44% good × 2.07 allocation
- $17,500
HVACdefault
$21,100 new × 40% good × 2.07 allocation
- $10,000
Hardwood & tile floorsdefault
$12,000 new × 40% good × 2.07 allocation
- $2,200
Fireplacelisting
$2,600 new × 40% good × 2.07 allocation
- $12,400
Septic systemlisting
$12,000 new × 50% good × 2.07 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $61,400 | $37,500 | $1,000 | $99,900 |
| 2 | $0 | $0 | $7,800 | $7,800 |
| 3 | $0 | $0 | $7,800 | $7,800 |
| 4 | $0 | $0 | $7,800 | $7,800 |
| 5 | $0 | $0 | $7,800 | $7,800 |
| 6+ | $0 | $0 | $273,100 | $273,100 |
| Total | $61,400 | $37,500 | $305,400 | $404,400 |
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.