771 Burgess Gap Rd

Morganton, GA 30560

$849,000

2 bd · 2 ba · 2,240 sqft · Listed 19d ago

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Low confidence

Year built

2004

Sqft

2,240

Lot sqft

627,700

HOA / mo

Furnished

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)

$15,907$30,756$41,257

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)
Vrbo
Deer Acres
House · 3 bd · 2.5 ba · sleeps 7 · 0.4 mi
Revenue $11,839ADR $192Occ ≈ 17%4.8★ (28)
Airbnb Vrbo
Sleep under the stars!! Tipi experience!
Tipi · 1 bd · 1 ba · sleeps 2 · 0.4 mi
Revenue $16,696ADR $189Occ ≈ 24%5★ (132)
Airbnb Vrbo
Mountain View | Modern | Hot Tub ★Spyglass Ridge★
Chalet · 3 bd · 2 ba · sleeps 6 · 0.6 mi
Revenue $73,607ADR $243Occ ≈ 83%5★ (291)
Airbnb
Dog-friendly 3BR with hot tub, views & great porch
Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi
Revenue $13,541ADR $246Occ ≈ 15%4.8★ (13)
Airbnb Vrbo Booking
Sunset Summit | Morganton, GA
Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi
Revenue $41,309ADR $329Occ ≈ 34%4.9★ (8)
Airbnb Vrbo
Nature's Whisper- View, hot tub, fire pit, private
Cabin · 2 bd · 3 ba · sleeps 6 · 0.7 mi
Revenue $39,203ADR $262Occ ≈ 41%4.8★ (31)
Airbnb Vrbo
15% Off Summer Sale—Discount Already Applied!
Cabin · 3 bd · 2.5 ba · sleeps 7 · 0.7 mi
Revenue $41,240ADR $237Occ ≈ 48%4.6★ (23)
Airbnb Vrbo Booking

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	Airbnb Vrbo
Sleep under the stars!! Tipi experience! Tipi	1 bd · 1 ba · sleeps 2	$16,696	$189	24%	5★ (132)	0.4 mi	Airbnb Vrbo
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	Airbnb Vrbo Booking
Sunset Summit \| Morganton, GA Cabin	3 bd · 3 ba · sleeps 6	$41,309	$329	34%	4.9★ (8)	0.7 mi	Airbnb Vrbo
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	Airbnb Vrbo
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	Airbnb Vrbo Booking

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

Purchase priceAlready furnishedTax bracket

Est. revenue

$30,962

NOI

$7,307

Cash flow /mo

$609

Cash needed

$898,960

Cash-on-cash (all cash)

0.8%

ROE (yr 1)

3.6%

Cap rate

0.9%

DSCR

—

Year-1 write-off

$140,252

Year-1 tax shield @ 32%

$44,881

Year-1 return on equity

Cash flow (annual)$7,307
Principal paydown (n/a, cash)$0
Appreciation at%$25,470

ROE3.6%

ROE incl. year-1 tax savings (32% bracket, STR loophole)8.6%

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

Purchase price (all cash)$849,000
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.

5-year property$71,500

Kitchen cabinetsdefault
$10,700 new × 40% good × 2.55 allocation
$10,900
Kitchen countertopsdefault
$8,800 new × 40% good × 2.55 allocation
$8,900
Decorative trimdefault
$3,900 new × 40% good × 2.55 allocation
$4,000
Mirrorsdefault
$300 new × 40% good × 2.55 allocation
$300
Shelvingdefault
$900 new × 40% good × 2.55 allocation
$900
Window coverings (22)default
$5,500 new × 40% good × 2.55 allocation
$5,600
Kitchen & laundry equipment plumbingdefault
$8,300 new × 56% good × 2.55 allocation
$11,900
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 56% good × 2.55 allocation
$7,200
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 40% good × 2.55 allocation
$5,800
Furniture bought newlisting
$16,000 new × 100% good · bought separately
$16,000

15-year land improvements$67,000

Paving: driveway & walks (paved)default
$9,800 new × 50% good × 2.55 allocation
$12,500
Landscaping (typical)default
$9,400 new × 50% good × 2.55 allocation
$12,000
Patiosdefault
$2,200 new × 50% good × 2.55 allocation
$2,800
Decks & porches (attached)listing
$25,200 new × 50% good × 2.55 allocation
$32,100
Fencinglisting
$6,000 new × 50% good × 2.55 allocation
$7,600

Building, 39-year$523,700

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$243,600 new × 63% good × 2.55 allocation
$392,800
Building plumbing & fixturesdefault
$25,200 new × 56% good × 2.55 allocation
$36,000
Building electrical & lightingdefault
$25,700 new × 56% good × 2.55 allocation
$36,600
HVACdefault
$25,200 new × 40% good × 2.55 allocation
$25,700
Hardwood & tile floorsdefault
$14,400 new × 40% good × 2.55 allocation
$14,700
Fireplacelisting
$2,600 new × 40% good × 2.55 allocation
$2,700
Septic systemlisting
$12,000 new × 50% good × 2.55 allocation
$15,300

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	$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.