24 Oak Ledge Rd
Morganton, GA 30560
$525,000
4 bd · 2 ba · 1,824 sqft · Listed 1d ago
View on Realtor.com →Year built
1993
Sqft
1,824
Lot sqft
60,113
HOA / mo
$0
Furnished
No
List date
2026-09-29T16:25:46.000000Z
Revenue
Annual revenue
$39,185
ADR
$219
Occupancy
49%
Cleaning fees (12 mo)
$8,000
Confidence
Low (19.67), 15 comps
Comp revenue range (p25 / median / p75)
Belle View- Morganton GA
Vacation home · 3 bd · 2 ba · sleeps 6 · 0.2 mi
Revenue $62,288ADR $286Occ ≈ 60%—
Painted Sky Cabin - Long Distance Mountain Views! | Firepit | Pet Friendly
Cabin · 3 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $3,151ADR $382Occ ≈ 2%—
Painted Sky Cabin: Stunning Mtn Views, Dogs ok
Cabin · 3 bd · 3 ba · sleeps 8 · 0.5 mi
Revenue $532ADR $266Occ ≈ 1%—
Sunsets & panoramic views of Lake Blue Ridge!
Cabin · 3 bd · 3 ba · sleeps 8 · 0.5 mi
Revenue $4,214ADR $283Occ ≈ 4%—
Charming 3-bedroom cabin with Stunning Views in enchanting Morganton
Cabin · 3 bd · 3 ba · sleeps 8 · 0.6 mi
Revenue $10,798ADR $317Occ ≈ 9%5★ (4)
Folklore a Private, Luxurious dog-friendly Cabin
Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi
Revenue $1,080ADR $420Occ ≈ 1%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
A Golden Retreat | Morganton, GA Cabin | 3 bd · 3 ba · sleeps 6 | $42,527 | $377 | 31% | 5★ (36) | 0.2 mi | AirbnbVrbo |
Belle View- Morganton GA Vacation home | 3 bd · 2 ba · sleeps 6 | $62,288 | $286 | 60% | — | 0.2 mi | Booking |
Panoramic Ridge | Morganton, GA Cabin | 3 bd · 2.5 ba · sleeps 6 | $24,487 | $286 | 23% | — | 0.3 mi | AirbnbVrbo |
Painted Sky Cabin - Long Distance Mountain Views! | Firepit | Pet Friendly Cabin | 3 bd · 3 ba · sleeps 8 | $3,151 | $382 | 2% | — | 0.4 mi | Vrbo |
Painted Sky Cabin: Stunning Mtn Views, Dogs ok Cabin | 3 bd · 3 ba · sleeps 8 | $532 | $266 | 1% | — | 0.5 mi | Airbnb |
Sunsets & panoramic views of Lake Blue Ridge! Cabin | 3 bd · 3 ba · sleeps 8 | $4,214 | $283 | 4% | — | 0.5 mi | Airbnb |
MTN Views~Hot Tub~Fire Pit~Pool Table~Games House | 3 bd · 3 ba · sleeps 8 | $41,370 | $311 | 36% | 5★ (20) | 0.5 mi | AirbnbVrboBooking |
Charming 3-bedroom cabin with Stunning Views in enchanting Morganton Cabin | 3 bd · 3 ba · sleeps 8 | $10,798 | $317 | 9% | 5★ (4) | 0.6 mi | Vrbo |
Pets OK, Hot Tub, Pool Table, Free WiFi Cabin | 3 bd · 3 ba · sleeps 6 | $34,876 | $0 | — | 4.8★ (67) | 0.6 mi | AirbnbVrbo |
Folklore a Private, Luxurious dog-friendly Cabin Cabin | 3 bd · 3 ba · sleeps 6 | $1,080 | $420 | 1% | — | 0.6 mi | Airbnb |
Show all 15 comps
Private, dog-friendly cabin rental, tons of deck space, outdoor fireplace, hot tub
Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi
Revenue $930ADR $310Occ ≈ 1%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Pets OK Fire Pit Hot Tub Cabin | 3 bd · 3 ba · sleeps 6 | $38,142 | $282 | 37% | 4.8★ (29) | 0.6 mi | AirbnbVrbo |
Private, dog-friendly cabin rental, tons of deck space, outdoor fireplace, hot tub Cabin | 3 bd · 3 ba · sleeps 6 | $930 | $310 | 1% | — | 0.6 mi | Vrbo |
Mountain Hideaway | Hot Tub | Gameroom Cabin | 3 bd · 3 ba · sleeps 6 | $37,068 | $202 | 50% | 5★ (107) | 0.7 mi | AirbnbVrbo |
15% Off Summer Sale—Discount Already Applied! Cabin | 3 bd · 3 ba · sleeps 6 | $28,899 | $197 | 40% | 4.8★ (21) | 0.7 mi | AirbnbVrboBooking |
Cozy Bear Lodge Log Cabin Blue Ridge Mtns Cabin | 3 bd · 3 ba · sleeps 10 | $44,906 | $307 | 40% | 5★ (84) | 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
$39,185
NOI
$17,007
Cash flow /mo
-$1,412
Cash needed
$175,250
Cash-on-cash
-9.7%
ROE (yr 1)
1.3%
Cap rate
3.2%
DSCR
0.50
Year-1 write-off
$139,524
Year-1 tax shield @ 32%
$44,648
Year-1 return on equity
- Cash flow (annual)-$16,942
- Principal paydown$3,436
- Appreciation at%$15,750
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)$7,837
- Platform fees (3% of revenue)$1,176
- Maintenance / capex (5% of revenue)$1,959
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,415
- Insurance (STR-rated)$5,591
Cash needed to close
- Down payment (25%)$131,250
- Closing costs (4.0%)$21,000
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$44,648
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
$449,000
Short-life (5/15-yr)
$115,000 · 26%
Year-1 deduction
$140,000
Year-1 tax shield @ 32%
$45,000
Land 14% (county tax record, market value split) · building $334,000 over 39 years · new furniture $23,000
Based on: 1,824 sq ft, built 1993, 4 bd / 2 ba, unfurnished, listing features (deck, patio, fence, fireplace, flooring types, appliance list, septic, wooded lot).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $88,000 in year 1 (14% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $10,500
Kitchen cabinetsdefault
$9,800 new × 40% good × 2.67 allocation
- $8,600
Kitchen countertopsdefault
$8,000 new × 40% good × 2.67 allocation
- $3,400
Decorative trimdefault
$3,200 new × 40% good × 2.67 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.67 allocation
- $1,600
Shelvingdefault
$1,500 new × 40% good × 2.67 allocation
- $4,800
Window coverings (18)default
$4,500 new × 40% good × 2.67 allocation
- $3,100
Carpet, vinyl & laminate (25% of floors)listing
$2,900 new × 40% good × 2.67 allocation
- $8,100
Kitchen & laundry equipment plumbingdefault
$7,600 new × 40% good × 2.67 allocation
- $4,900
Kitchen, laundry & data equipment electricaldefault
$4,600 new × 40% good × 2.67 allocation
- $6,300
Appliances (microwave, dishwasher, refrigerator, washer, dryer)listing
$5,900 new × 40% good × 2.67 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $11,800
Paving: driveway & walks (paved)default
$8,900 new × 50% good × 2.67 allocation
- $5,700
Landscaping (minimal)listing
$4,300 new × 50% good × 2.67 allocation
- $11,000
Patioslisting
$8,200 new × 50% good × 2.67 allocation
- $27,400
Decks & porches (attached)listing
$20,500 new × 50% good × 2.67 allocation
- $8,000
Fencinglisting
$6,000 new × 50% good × 2.67 allocation
- $237,100
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$197,500 new × 45% good × 2.67 allocation
- $21,900
Building plumbing & fixturesdefault
$20,500 new × 40% good × 2.67 allocation
- $21,800
Building electrical & lightingdefault
$20,400 new × 40% good × 2.67 allocation
- $21,900
HVACdefault
$20,500 new × 40% good × 2.67 allocation
- $9,400
Hardwood & tile floorsdefault
$8,800 new × 40% good × 2.67 allocation
- $5,600
Fireplaces (2)listing
$5,300 new × 40% good × 2.67 allocation
- $16,000
Septic systemlisting
$12,000 new × 50% good × 2.67 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $74,600 | $63,800 | $1,100 | $139,500 |
| 2 | $0 | $0 | $8,600 | $8,600 |
| 3 | $0 | $0 | $8,600 | $8,600 |
| 4 | $0 | $0 | $8,600 | $8,600 |
| 5 | $0 | $0 | $8,600 | $8,600 |
| 6+ | $0 | $0 | $298,500 | $298,500 |
| Total | $74,600 | $63,800 | $333,800 | $472,200 |
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 and Georgia 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.