771 Burgess Gap Rd
Morganton, GA 30560
$849,000
2 bd · 2 ba · 2,240 sqft · Listed 19d ago
View on Realtor.com →Year built
2004
Sqft
2,240
Lot sqft
627,700
HOA / mo
$0
Furnished
No
List date
2026-09-08T00:37:39.000000Z
Revenue
Annual revenue
$30,962
ADR
$210
Occupancy
40%
Cleaning fees (12 mo)
$6,304
Confidence
Low (35.94), 8 comps
Comp revenue range (p25 / median / p75)
PRIVACY,VIEWS,POND,CREEKS! pooltable-arcade-minutes to BlRdg-Lake-dogs welcome
House · 3 bd · 3 ba · sleeps 10 · 0.2 mi
Revenue $22,309ADR $307Occ ≈ 20%5★ (4)
Mountain View | Modern | Hot Tub ★Spyglass Ridge★
Chalet · 3 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $73,607ADR $243Occ ≈ 83%5★ (291)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
PRIVACY,VIEWS,POND,CREEKS! pooltable-arcade-minutes to BlRdg-Lake-dogs welcome House | 3 bd · 3 ba · sleeps 10 | $22,309 | $307 | 20% | 5★ (4) | 0.2 mi | Vrbo |
Deer Acres House | 3 bd · 2.5 ba · sleeps 7 | $11,839 | $192 | 17% | 4.8★ (28) | 0.4 mi | AirbnbVrbo |
Sleep under the stars!! Tipi experience! Tipi | 1 bd · 1 ba · sleeps 2 | $16,696 | $189 | 24% | 5★ (132) | 0.4 mi | AirbnbVrbo |
Mountain View | Modern | Hot Tub ★Spyglass Ridge★ Chalet | 3 bd · 2 ba · sleeps 6 | $73,607 | $243 | 83% | 5★ (291) | 0.6 mi | Airbnb |
Dog-friendly 3BR with hot tub, views & great porch Cabin | 3 bd · 3 ba · sleeps 6 | $13,541 | $246 | 15% | 4.8★ (13) | 0.6 mi | AirbnbVrboBooking |
Sunset Summit | Morganton, GA Cabin | 3 bd · 3 ba · sleeps 6 | $41,309 | $329 | 34% | 4.9★ (8) | 0.7 mi | AirbnbVrbo |
Nature's Whisper- View, hot tub, fire pit, private Cabin | 2 bd · 3 ba · sleeps 6 | $39,203 | $262 | 41% | 4.8★ (31) | 0.7 mi | AirbnbVrbo |
15% Off Summer Sale—Discount Already Applied! Cabin | 3 bd · 2.5 ba · sleeps 7 | $41,240 | $237 | 48% | 4.6★ (23) | 0.7 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
$30,962
NOI
$7,307
Cash flow /mo
-$3,966
Cash needed
$262,210
Cash-on-cash
-18.2%
ROE (yr 1)
-6.3%
Cap rate
0.9%
DSCR
0.13
Year-1 write-off
$140,252
Year-1 tax shield @ 32%
$44,881
Year-1 return on equity
- Cash flow (annual)-$47,593
- Principal paydown$5,556
- Appreciation at%$25,470
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$6,192
- Platform fees (3% of revenue)$929
- Maintenance / capex (5% of revenue)$1,548
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,744
- Insurance (STR-rated)$9,042
Cash needed to close
- Down payment (25%)$212,250
- Closing costs (4.0%)$33,960
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$44,881
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
$646,000
Short-life (5/15-yr)
$123,000 · 19%
Year-1 deduction
$140,000
Year-1 tax shield @ 32%
$45,000
Land 24% (county tax record, market value split) · building $524,000 over 39 years · new furniture $16,000
Based on: 2,240 sq ft, built 2004, 2 bd / 2 ba, unfurnished, listing features (deck, fence, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $83,000 in year 1 (10% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $10,900
Kitchen cabinetsdefault
$10,700 new × 40% good × 2.55 allocation
- $8,900
Kitchen countertopsdefault
$8,800 new × 40% good × 2.55 allocation
- $4,000
Decorative trimdefault
$3,900 new × 40% good × 2.55 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.55 allocation
- $900
Shelvingdefault
$900 new × 40% good × 2.55 allocation
- $5,600
Window coverings (22)default
$5,500 new × 40% good × 2.55 allocation
- $11,900
Kitchen & laundry equipment plumbingdefault
$8,300 new × 56% good × 2.55 allocation
- $7,200
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 56% good × 2.55 allocation
- $5,800
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 2.55 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $12,500
Paving: driveway & walks (paved)default
$9,800 new × 50% good × 2.55 allocation
- $12,000
Landscaping (typical)default
$9,400 new × 50% good × 2.55 allocation
- $2,800
Patiosdefault
$2,200 new × 50% good × 2.55 allocation
- $32,100
Decks & porches (attached)listing
$25,200 new × 50% good × 2.55 allocation
- $7,600
Fencinglisting
$6,000 new × 50% good × 2.55 allocation
- $392,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$243,600 new × 63% good × 2.55 allocation
- $36,000
Building plumbing & fixturesdefault
$25,200 new × 56% good × 2.55 allocation
- $36,600
Building electrical & lightingdefault
$25,700 new × 56% good × 2.55 allocation
- $25,700
HVACdefault
$25,200 new × 40% good × 2.55 allocation
- $14,700
Hardwood & tile floorsdefault
$14,400 new × 40% good × 2.55 allocation
- $2,700
Fireplacelisting
$2,600 new × 40% good × 2.55 allocation
- $15,300
Septic systemlisting
$12,000 new × 50% good × 2.55 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $71,500 | $67,000 | $1,700 | $140,300 |
| 2 | $0 | $0 | $13,400 | $13,400 |
| 3 | $0 | $0 | $13,400 | $13,400 |
| 4 | $0 | $0 | $13,400 | $13,400 |
| 5 | $0 | $0 | $13,400 | $13,400 |
| 6+ | $0 | $0 | $468,300 | $468,300 |
| Total | $71,500 | $67,000 | $523,700 | $662,300 |
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.