211 Highland Forest Dr
Morganton, GA 30560
$484,000
4 bd · 3 ba · 2,043 sqft · Listed 1d ago
View on Realtor.com →Year built
2000
Sqft
2,043
Lot sqft
122,404
HOA / mo
None
Furnished
No
List date
2026-09-30T13:21:50.000000Z
Revenue
Annual revenue
$41,869
ADR
$241
Occupancy
48%
Cleaning fees (12 mo)
$7,537
Confidence
Low (50.22), 7 comps
Comp revenue range (p25 / median / p75)
Modern Cabin in Blue Ridge - Summer Availability - Bring Your BOAT !!!
Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.1 mi
Revenue $57,483ADR $514Occ ≈ 31%5★ (39)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Mountain Melody - Blue Ridge, GA Nature lodge | 3 bd · 3 ba · sleeps 8 | $31,867 | $377 | 23% | 4.8★ (4) | 52 ft | AirbnbVrboBooking |
Mountain Melody - Mtn Views, Hot Tub, Fireplace Cabin | 3 bd · 3 ba · sleeps 8 | $40,926 | $339 | 33% | 5★ (4) | 207 ft | AirbnbVrbo |
Mountain Cabin|Covered Deck|Hot Tub|Wifi|Gameroom Cabin | 3 bd · 3 ba · sleeps 10 | $42,311 | $240 | 48% | 4.8★ (161) | 305 ft | AirbnbVrboBooking |
Mountain Views + Hot Tub | Sleeps 12 | Game Room Cabin | 4 bd · 3.5 ba · sleeps 12 | $74,378 | $335 | 61% | 5★ (177) | 348 ft | AirbnbVrbo |
Modern Cabin in Blue Ridge - Summer Availability - Bring Your BOAT !!! Cabin | 4 bd · 3.5 ba · sleeps 10 | $57,483 | $514 | 31% | 5★ (39) | 0.1 mi | Vrbo |
Mountain Modern Retreat House | 4 bd · 3 ba · sleeps 8 | $53,627 | $325 | 45% | 5★ (64) | 0.1 mi | AirbnbVrbo |
Blue Ridge gem! House | 5 bd · 2.5 ba · sleeps 13 | $5,453 | $414 | 4% | 5★ (3) | 0.5 mi | Airbnb |
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
$41,869
NOI
$19,263
Cash flow /mo
-$1,003
Cash needed
$169,360
Cash-on-cash
-7.1%
ROE (yr 1)
3.3%
Cap rate
4.0%
DSCR
0.62
Year-1 write-off
$101,818
Year-1 tax shield @ 32%
$32,582
Year-1 return on equity
- Cash flow (annual)-$12,034
- Principal paydown$3,167
- Appreciation at%$14,520
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$8,374
- Platform fees (3% of revenue)$1,256
- Maintenance / capex (5% of revenue)$2,093
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,528
- Insurance (STR-rated)$5,155
Cash needed to close
- Down payment (25%)$121,000
- Closing costs (4.0%)$19,360
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$32,582
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
$419,000
Short-life (5/15-yr)
$72,000 · 17%
Year-1 deduction
$102,000
Year-1 tax shield @ 32%
$33,000
Land 13% (county tax record, market value split) · building $347,000 over 39 years · new furniture $29,000
Based on: 2,043 sq ft, built 2000, 4 bd / 3 ba, unfurnished, listing features (hot tub, game room, fireplace, flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $80,000 in year 1 (12% short-life, $26,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,400
Kitchen cabinetsdefault
$10,300 new × 40% good × 2.05 allocation
- $6,900
Kitchen countertopsdefault
$8,400 new × 40% good × 2.05 allocation
- $2,900
Decorative trimdefault
$3,600 new × 40% good × 2.05 allocation
- $400
Mirrorsdefault
$500 new × 40% good × 2.05 allocation
- $1,200
Shelvingdefault
$1,500 new × 40% good × 2.05 allocation
- $4,100
Window coverings (20)default
$5,000 new × 40% good × 2.05 allocation
- $7,900
Kitchen & laundry equipment plumbingdefault
$8,000 new × 48% good × 2.05 allocation
- $4,800
Kitchen, laundry & data equipment electricaldefault
$4,800 new × 48% good × 2.05 allocation
- $4,700
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 2.05 allocation
- $7,400
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.05 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
- $9,600
Paving: driveway & walks (paved)default
$9,400 new × 50% good × 2.05 allocation
- $9,300
Landscaping (typical)default
$9,000 new × 50% good × 2.05 allocation
- $2,100
Patiosdefault
$2,000 new × 50% good × 2.05 allocation
- $2,100
Decks & porches (attached)default
$2,000 new × 50% good × 2.05 allocation
- $257,400
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$221,300 new × 57% good × 2.05 allocation
- $22,700
Building plumbing & fixturesdefault
$23,000 new × 48% good × 2.05 allocation
- $22,800
Building electrical & lightingdefault
$23,200 new × 48% good × 2.05 allocation
- $18,900
HVACdefault
$23,000 new × 40% good × 2.05 allocation
- $10,800
Hardwood & tile floorsdefault
$13,100 new × 40% good × 2.05 allocation
- $2,200
Fireplacelisting
$2,600 new × 40% good × 2.05 allocation
- $12,300
Septic systemlisting
$12,000 new × 50% good × 2.05 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $77,700 | $23,000 | $1,100 | $101,800 |
| 2 | $0 | $0 | $8,900 | $8,900 |
| 3 | $0 | $0 | $8,900 | $8,900 |
| 4 | $0 | $0 | $8,900 | $8,900 |
| 5 | $0 | $0 | $8,900 | $8,900 |
| 6+ | $0 | $0 | $310,300 | $310,300 |
| Total | $77,700 | $23,000 | $347,000 | $447,700 |
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: California, Georgia and Wisconsin disallow 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.