98 Ridgeview Rd
Morganton, GA 30560
$238,500
3 bd · 1 ba · Listed 18d ago
View on Realtor.com →Year built
1974
Sqft
—
Lot sqft
64,033
HOA / mo
None
Furnished
No
List date
2026-09-09T03:34:19.000000Z
Revenue
Annual revenue
$40,791
ADR
$205
Occupancy
55%
Cleaning fees (12 mo)
$7,705
Confidence
Low (14.09), 7 comps
Comp revenue range (p25 / median / p75)
Keys to the Woods
Cabin · 3 bd · 2 ba · sleeps 7 · 0.2 mi
Revenue $54,663ADR $222Occ ≈ 67%5★ (83)
Keys to the Woods | Game Room | Fire Pit | Hot Tub
Cabin · 3 bd · 2 ba · sleeps 7 · 0.4 mi
Revenue $35,287ADR $280Occ ≈ 35%5★ (2)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Keys to the Woods Cabin | 3 bd · 2 ba · sleeps 7 | $54,663 | $222 | 67% | 5★ (83) | 0.2 mi | Airbnb |
Riley's Ridge Cabin | 3 bd · 2 ba · sleeps 8 | $30,578 | $205 | 41% | 5★ (37) | 0.2 mi | AirbnbVrbo |
Hot Tub| 10 min to Downtown Blue Ridge | Gameroom Cabin | 3 bd · 2 ba · sleeps 7 | $8,997 | $239 | 10% | 4.8★ (9) | 0.2 mi | AirbnbVrboBooking |
Luxury Modern - VIEW - 4 acres House | 3 bd · 2 ba · sleeps 8 | $2,454 | $337 | 2% | 5★ (2) | 0.3 mi | AirbnbBooking |
Keys to the Woods | Game Room | Fire Pit | Hot Tub Cabin | 3 bd · 2 ba · sleeps 7 | $35,287 | $280 | 35% | 5★ (2) | 0.4 mi | Vrbo |
Dog Friendly 10 Acre Retreat Fly Fishing and Pond Cabin | 3 bd · 2 ba · sleeps 6 | $72,842 | $245 | 81% | 4.9★ (230) | 0.4 mi | AirbnbVrbo |
Cozy Cabin: w/ Balcony, Pool Table, Fire pit & BBQ Cabin | 3 bd · 2 ba · sleeps 8 | $8,738 | $269 | 9% | 4.4★ (28) | 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
Est. revenue
$40,791
NOI
$22,394
Cash flow /mo
$1,866
Cash needed
$267,540
Cash-on-cash (all cash)
8.4%
ROE (yr 1)
11.0%
Cap rate
9.4%
DSCR
—
Year-1 write-off
$48,644
Year-1 tax shield @ 32%
$15,566
Year-1 return on equity
- Cash flow (annual)$22,394
- Principal paydown (n/a, cash)$0
- Appreciation at%$7,155
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$8,158
- Platform fees (3% of revenue)$1,224
- Maintenance / capex (5% of revenue)$2,040
- Utilities & supplies$4,200
- HOA$0
- Property tax$235
- Insurance (STR-rated)$2,540
Cash needed to close
- Purchase price (all cash)$238,500
- Closing costs (4.0%)$9,540
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$15,566
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
$125,000
Short-life (5/15-yr)
$29,000 · 23%
Year-1 deduction
$49,000
Year-1 tax shield @ 32%
$16,000
Land 47% (county tax record, market value split) · building $96,000 over 39 years · new furniture $20,000
Based on: ~1,900 sq ft (from beds), built 1974, 3 bd / 1 ba, unfurnished, listing features (fence, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $40,000 in year 1 (16% short-life, $13,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $3,300
Kitchen cabinetsdefault
$10,000 new × 40% good × 0.83 allocation
- $2,700
Kitchen countertopsdefault
$8,200 new × 40% good × 0.83 allocation
- $1,100
Decorative trimdefault
$3,300 new × 40% good × 0.83 allocation
- $0
Mirrorsdefault
$200 new × 40% good × 0.83 allocation
- $400
Shelvingdefault
$1,200 new × 40% good × 0.83 allocation
- $1,600
Window coverings (19)default
$4,800 new × 40% good × 0.83 allocation
- $2,000
Carpet, vinyl & laminate (50% of floors)listing
$6,100 new × 40% good × 0.83 allocation
- $2,600
Kitchen & laundry equipment plumbingdefault
$7,800 new × 40% good × 0.83 allocation
- $1,600
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 40% good × 0.83 allocation
- $2,200
Appliances (range, microwave, refrigerator, washer, dryer)listing
$6,700 new × 40% good × 0.83 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $3,700
Paving: driveway & walks (paved)default
$9,000 new × 50% good × 0.83 allocation
- $3,600
Landscaping (typical)default
$8,700 new × 50% good × 0.83 allocation
- $800
Patiosdefault
$1,900 new × 50% good × 0.83 allocation
- $800
Decks & porches (attached)default
$1,900 new × 50% good × 0.83 allocation
- $2,500
Fencinglisting
$6,000 new × 50% good × 0.83 allocation
- $68,200
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$206,300 new × 40% good × 0.83 allocation
- $7,100
Building plumbing & fixturesdefault
$21,400 new × 40% good × 0.83 allocation
- $7,100
Building electrical & lightingdefault
$21,400 new × 40% good × 0.83 allocation
- $7,100
HVACdefault
$21,400 new × 40% good × 0.83 allocation
- $2,000
Hardwood & tile floorsdefault
$6,100 new × 40% good × 0.83 allocation
- $5,000
Septic systemlisting
$12,000 new × 50% good × 0.83 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $37,000 | $11,400 | $300 | $48,600 |
| 2 | $0 | $0 | $2,500 | $2,500 |
| 3 | $0 | $0 | $2,500 | $2,500 |
| 4 | $0 | $0 | $2,500 | $2,500 |
| 5 | $0 | $0 | $2,500 | $2,500 |
| 6+ | $0 | $0 | $86,200 | $86,200 |
| Total | $37,000 | $11,400 | $96,400 | $144,800 |
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.