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24 Oak Ledge Rd

24 Oak Ledge Rd

Morganton, GA 30560

$525,000

4 bd · 2 ba · 1,824 sqft · Listed 1d ago

View on Realtor.com →
Low confidence

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)

$3,683$28,899$39,756

  • A Golden Retreat | Morganton, GA

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.2 mi

    Revenue $42,527ADR $377Occ ≈ 31%5★ (36)

    AirbnbVrbo

  • Belle View- Morganton GA

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0.2 mi

    Revenue $62,288ADR $286Occ ≈ 60%—

    Booking

  • Panoramic Ridge | Morganton, GA

    Cabin · 3 bd · 2.5 ba · sleeps 6 · 0.3 mi

    Revenue $24,487ADR $286Occ ≈ 23%—

    AirbnbVrbo

  • 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%—

    Vrbo

  • Painted Sky Cabin: Stunning Mtn Views, Dogs ok

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.5 mi

    Revenue $532ADR $266Occ ≈ 1%—

    Airbnb

  • Sunsets & panoramic views of Lake Blue Ridge!

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.5 mi

    Revenue $4,214ADR $283Occ ≈ 4%—

    Airbnb

  • MTN Views~Hot Tub~Fire Pit~Pool Table~Games

    House · 3 bd · 3 ba · sleeps 8 · 0.5 mi

    Revenue $41,370ADR $311Occ ≈ 36%5★ (20)

    AirbnbVrboBooking

  • 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)

    Vrbo

  • Pets OK, Hot Tub, Pool Table, Free WiFi

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi

    Revenue $34,876ADR $0Occ ≈ —4.8★ (67)

    AirbnbVrbo

  • Folklore a Private, Luxurious dog-friendly Cabin

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi

    Revenue $1,080ADR $420Occ ≈ 1%—

    Airbnb

Show all 15 comps

  • Pets OK Fire Pit Hot Tub

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi

    Revenue $38,142ADR $282Occ ≈ 37%4.8★ (29)

    AirbnbVrbo

  • 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%—

    Vrbo

  • Mountain Hideaway | Hot Tub | Gameroom

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi

    Revenue $37,068ADR $202Occ ≈ 50%5★ (107)

    AirbnbVrbo

  • 15% Off Summer Sale—Discount Already Applied!

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi

    Revenue $28,899ADR $197Occ ≈ 40%4.8★ (21)

    AirbnbVrboBooking

  • Cozy Bear Lodge Log Cabin Blue Ridge Mtns

    Cabin · 3 bd · 3 ba · sleeps 10 · 0.7 mi

    Revenue $44,906ADR $307Occ ≈ 40%5★ (84)

    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

Financing
Management

Est. revenue

$39,185

NOI

$17,007

Cash flow /mo

$1,417

Cash needed

$569,000

Cash-on-cash (all cash)

3.0%

ROE (yr 1)

5.8%

Cap rate

3.2%

DSCR

—

Year-1 write-off

$139,524

Year-1 tax shield @ 32%

$44,648

Year-1 return on equity

  • Cash flow (annual)$17,007
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$15,750
ROE5.8%

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

  • Purchase price (all cash)$525,000
  • 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.

5-year property$74,600

  • Kitchen cabinetsdefault

    $9,800 new × 40% good × 2.67 allocation

    $10,500

  • Kitchen countertopsdefault

    $8,000 new × 40% good × 2.67 allocation

    $8,600

  • Decorative trimdefault

    $3,200 new × 40% good × 2.67 allocation

    $3,400

  • Mirrorsdefault

    $300 new × 40% good × 2.67 allocation

    $300

  • Shelvingdefault

    $1,500 new × 40% good × 2.67 allocation

    $1,600

  • Window coverings (18)default

    $4,500 new × 40% good × 2.67 allocation

    $4,800

  • Carpet, vinyl & laminate (25% of floors)listing

    $2,900 new × 40% good × 2.67 allocation

    $3,100

  • Kitchen & laundry equipment plumbingdefault

    $7,600 new × 40% good × 2.67 allocation

    $8,100

  • Kitchen, laundry & data equipment electricaldefault

    $4,600 new × 40% good × 2.67 allocation

    $4,900

  • Appliances (microwave, dishwasher, refrigerator, washer, dryer)listing

    $5,900 new × 40% good × 2.67 allocation

    $6,300

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000
15-year land improvements$63,800

  • Paving: driveway & walks (paved)default

    $8,900 new × 50% good × 2.67 allocation

    $11,800

  • Landscaping (minimal)listing

    $4,300 new × 50% good × 2.67 allocation

    $5,700

  • Patioslisting

    $8,200 new × 50% good × 2.67 allocation

    $11,000

  • Decks & porches (attached)listing

    $20,500 new × 50% good × 2.67 allocation

    $27,400

  • Fencinglisting

    $6,000 new × 50% good × 2.67 allocation

    $8,000
Building, 39-year$333,800

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $197,500 new × 45% good × 2.67 allocation

    $237,100

  • Building plumbing & fixturesdefault

    $20,500 new × 40% good × 2.67 allocation

    $21,900

  • Building electrical & lightingdefault

    $20,400 new × 40% good × 2.67 allocation

    $21,800

  • HVACdefault

    $20,500 new × 40% good × 2.67 allocation

    $21,900

  • Hardwood & tile floorsdefault

    $8,800 new × 40% good × 2.67 allocation

    $9,400

  • Fireplaces (2)listing

    $5,300 new × 40% good × 2.67 allocation

    $5,600

  • Septic systemlisting

    $12,000 new × 50% good × 2.67 allocation

    $16,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.