475 Underwood Rd
Morganton, GA 30560
$349,900
3 bd · 2.5 ba · 1,680 sqft · Listed 1d ago
View on Realtor.com →Year built
2000
Sqft
1,680
Lot sqft
151,589
HOA / mo
None
Furnished
No
List date
2026-10-12T13:42:12.000000Z
Revenue
Annual revenue
$40,044
ADR
$265
Occupancy
41%
Cleaning fees (12 mo)
$7,559
Confidence
Med (58.28), 31 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $42,552
Zen Cabin with Mtn View, Hot Tub & acreage
Cabin · 3 bd · 2 ba · sleeps 8 · 0.9 mi
- Hot tub
- A/C
- Free parking
- Pets OK
- +5
Revenue $7,661ADR $330Occ ≈ 6%5★ (5)
Rivendell - Morganton, GA - Take in Beautiful Lake Views, Soak in the Hot Tub, Rack Up a Game of Pool, and Enjoy Game Nights in
Vacation home · 3 bd · 3 ba · sleeps 8 · 1.4 mi
Revenue $57,520ADR $307Occ ≈ 51%4★ (1)
Majestic Mountain | Morganton, GA
Cabin · 3 bd · 3 ba · sleeps 10 · 1.4 mi
Revenue $48,777ADR $388Occ ≈ 34%4.8★ (34)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Daze Off- Spectacular Views, Hot Tub, Fire Pit Cabin
| 3 bd · 3 ba · sleeps 8 | $29,522 | $328 | 25% | 4.9★ (11) | 0.3 mi | AirbnbVrboBooking |
Lakeview Log Cabin - Birdsong! Cabin
| 3 bd · 3 ba · sleeps 8 | $23,781 | $281 | 23% | 4.9★ (34) | 0.7 mi | AirbnbBooking |
Zen Cabin with Mtn View, Hot Tub & acreage Cabin
| 3 bd · 2 ba · sleeps 8 | $7,661 | $330 | 6% | 5★ (5) | 0.9 mi | Airbnb |
Hot tub-game rm-fire pit-private&cozy! A+ location Cabin | 3 bd · 2 ba · sleeps 8 | $21,365 | $264 | 22% | 4.8★ (56) | 0.9 mi | AirbnbBooking |
Hot Tub • Fire Pit • Dog Friendly • 3 King Suites Cabin
| 3 bd · 3 ba · sleeps 6 | $43,264 | $301 | 39% | 5★ (53) | 1.2 mi | AirbnbVrbo |
Star Creek Chalet- King Beds, Hot Tub, Game Room Cabin
| 3 bd · 3 ba · sleeps 8 | $52,931 | $457 | 32% | 5★ (9) | 1.3 mi | AirbnbVrbo |
Mountain Cabin w/ Hot Tub 200 Plus 5 Star Reviews Cabin
| 3 bd · 2 ba · sleeps 6 | $50,089 | $307 | 45% | 5★ (193) | 1.4 mi | AirbnbVrbo |
Rivendell - Morganton, GA - Take in Beautiful Lake Views, Soak in the Hot Tub, Rack Up a Game of Pool, and Enjoy Game Nights in Vacation home | 3 bd · 3 ba · sleeps 8 | $57,520 | $307 | 51% | 4★ (1) | 1.4 mi | Booking |
3 Bedroom - Breath Taking Mountain Views! Cabin
| 3 bd · 3 ba · sleeps 8 | $60,035 | $286 | 58% | 5★ (156) | 1.4 mi | AirbnbVrbo |
Majestic Mountain | Morganton, GA Cabin | 3 bd · 3 ba · sleeps 10 | $48,777 | $388 | 34% | 4.8★ (34) | 1.4 mi | Airbnb |
Show 21 more
Misty Mountain
Cabin · 3 bd · 3 ba · sleeps 8 · 1.6 mi
- Hot tub
- A/C
- Free parking
- Wifi
- +4
Revenue $7,521ADR $215Occ ≈ 10%5★ (5)
Beavers Mountain Escape cabin w/ mountain views
Cabin · 3 bd · 3 ba · sleeps 8 · 1.8 mi
- A/C
- Free parking
- Pets OK
- Wifi
- +3
Revenue $32,831ADR $150Occ ≈ 60%4.9★ (73)
Mountain Melody - Mtn Views, Hot Tub, Fireplace
Cabin · 3 bd · 3 ba · sleeps 8 · 1.8 mi
Revenue $41,752ADR $340Occ ≈ 34%5★ (4)
Above Expectations- Pet Friendly, Hot Tub, FirePit
Cabin · 3 bd · 3 ba · sleeps 6 · 2.0 mi
Revenue $24,294ADR $424Occ ≈ 16%4.8★ (10)
Vanessa on The Lake
House · 3 bd · 2 ba · sleeps 6 · 2.1 mi
Revenue $29,089ADR $194Occ ≈ 41%5★ (190)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Rivendell | Mtn & Lake Views | Hot Tub | Game Room Cabin
| 3 bd · 3 ba · sleeps 8 | $30,768 | $291 | 29% | 4.5★ (11) | 1.5 mi | AirbnbVrbo |
S`More Time Together | Morganton, GA Cabin
| 3 bd · 2 ba · sleeps 6 | $56,670 | $446 | 35% | 5★ (6) | 1.5 mi | AirbnbVrbo |
Lake Paradise: Hot Tub, Firepit, Lake Views Cabin
| 3 bd · 2 ba · sleeps 6 | $64,742 | $222 | 80% | 5★ (119) | 1.5 mi | AirbnbVrbo |
Misty Mountain Cabin
| 3 bd · 3 ba · sleeps 8 | $7,521 | $215 | 10% | 5★ (5) | 1.6 mi | Airbnb |
Can't Bear to Leave- Views, Pet Friendly, Hot Tub Cabin
| 3 bd · 3 ba · sleeps 9 | $53,188 | $382 | 38% | 4.9★ (17) | 1.6 mi | AirbnbVrboBooking |
Cozy Lane Cabin|MTN Views|Hot Tub|Game RM|Fire Pit Cabin
| 3 bd · 3 ba · sleeps 8 | $42,552 | $307 | 38% | 4.9★ (61) | 1.6 mi | AirbnbVrbo |
Tumnus Ridge- Dog Friendly, Hot Tub, Firepit,+more Cabin
| 3 bd · 2.5 ba · sleeps 7 | $49,639 | $371 | 37% | 4.8★ (17) | 1.7 mi | AirbnbVrboBooking |
Mountain Cabin|Covered Deck|Hot Tub|Wifi|Gameroom Cabin
| 3 bd · 3 ba · sleeps 10 | $42,875 | $243 | 48% | 4.8★ (166) | 1.8 mi | AirbnbVrboBooking |
Beavers Mountain Escape cabin w/ mountain views Cabin
| 3 bd · 3 ba · sleeps 8 | $32,831 | $150 | 60% | 4.9★ (73) | 1.8 mi | Airbnb |
Mountain Melody - Blue Ridge, GA Nature lodge | 3 bd · 3 ba · sleeps 8 | $43,211 | $377 | 31% | 4.8★ (4) | 1.8 mi | AirbnbBooking |
Mountain Melody - Mtn Views, Hot Tub, Fireplace Cabin | 3 bd · 3 ba · sleeps 8 | $41,752 | $340 | 34% | 5★ (4) | 1.8 mi | Airbnb |
Shepherd's Sky View | MTN Views | Pool Table Cabin
| 3 bd · 3 ba · sleeps 8 | $49,923 | $282 | 49% | 4.9★ (10) | 1.9 mi | AirbnbVrbo |
Above Expectations- Pet Friendly, Hot Tub, FirePit Cabin | 3 bd · 3 ba · sleeps 6 | $24,294 | $424 | 16% | 4.8★ (10) | 2.0 mi | Airbnb |
Highland Nook -Pet Friendly, Mtn View, Sauna Cabin
| 3 bd · 3.5 ba · sleeps 8 | $39,129 | $308 | 35% | 4.5★ (4) | 2.0 mi | AirbnbVrbo |
Treehouse Cabin | Hot Tub | Game Room | Deck Slide Cabin
| 3 bd · 3 ba · sleeps 10 | $62,071 | $326 | 52% | 5★ (94) | 2.1 mi | AirbnbVrbo |
New Exterior|Sleeps 8|Hot Tub|Games Galore|Nature Cabin
| 3 bd · 3 ba · sleeps 8 | $37,496 | $305 | 34% | 5★ (69) | 2.1 mi | AirbnbVrbo |
Vanessa on The Lake House | 3 bd · 2 ba · sleeps 6 | $29,089 | $194 | 41% | 5★ (190) | 2.1 mi | Airbnb |
Love You Deerly- Screened Porch, PingPong, FirePit Cabin
| 3 bd · 3 ba · sleeps 10 | $41,996 | $366 | 31% | 5★ (8) | 2.1 mi | AirbnbVrboBooking |
Hoot Owl View- Pet Friendly, Views, Fire Pit Cabin | 3 bd · 3 ba · sleeps 6 | $27,643 | $297 | 25% | 4★ (4) | 2.1 mi | AirbnbBooking |
Hoot Owl | $199 Off Your Stay! Cabin | 3 bd · 3 ba · sleeps 6 | $68,846 | $290 | 65% | 5★ (139) | 2.2 mi | AirbnbBooking |
Painted Sky Lodge| Blue Ridge, GA Cabin
| 3 bd · 3 ba · sleeps 8 | $4,312 | $396 | 3% | — | 2.2 mi | AirbnbVrbo |
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 8.15% = 7.40% Freddie Mac 30-yr avg (Oct 8) + 0.75% investor premium
Est. revenue
$40,044
NOI
$19,776
Cash flow /mo
-$305
Cash needed
$120,971
Cash-on-cash
-3.0%
ROE (yr 1)
7.4%
Cap rate
5.7%
DSCR
0.84
Year-1 write-off
$81,806
Year-1 tax shield @ 32%
$26,178
Year-1 return on equity
- Cash flow (annual)-$3,661
- Principal paydown$2,128
- Appreciation at%$10,497
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)$8,009
- Platform fees (3% of revenue)$1,201
- Maintenance / capex (5% of revenue)$2,002
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,129
- Insurance (STR-rated)$3,726
Cash needed to close
- Down payment (25%)$87,475
- Closing costs (4.0%)$13,996
- Furnishing (bought new)$19,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$26,178
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
$294,000
Short-life (5/15-yr)
$62,000 · 21%
Year-1 deduction
$82,000
Year-1 tax shield @ 32%
$26,000
Land 16% (county tax record, market value split) · building $232,000 over 39 years · new furniture $20,000
Based on: 1,680 sq ft, built 2000, 3 bd / 2.5 ba, unfurnished, listing features (deck, flooring types, appliance list, septic, wooded lot).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $51,000 in year 1 (11% short-life, $16,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $6,400
Kitchen cabinetsdefault
$9,500 new × 40% good × 1.68 allocation
- $5,200
Kitchen countertopsdefault
$7,800 new × 40% good × 1.68 allocation
- $2,000
Decorative trimdefault
$2,900 new × 40% good × 1.68 allocation
- $200
Mirrorsdefault
$300 new × 40% good × 1.68 allocation
- $800
Shelvingdefault
$1,200 new × 40% good × 1.68 allocation
- $2,900
Window coverings (17)default
$4,300 new × 40% good × 1.68 allocation
- $2,400
Carpet, vinyl & laminate (33% of floors)listing
$3,600 new × 40% good × 1.68 allocation
- $6,000
Kitchen & laundry equipment plumbingdefault
$7,400 new × 48% good × 1.68 allocation
- $3,600
Kitchen, laundry & data equipment electricaldefault
$4,500 new × 48% good × 1.68 allocation
- $4,700
Appliances (range, dishwasher, refrigerator, washer, dryer)listing
$7,000 new × 40% good × 1.68 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $7,200
Paving: driveway & walks (paved)default
$8,500 new × 50% good × 1.68 allocation
- $3,400
Landscaping (minimal)listing
$4,100 new × 50% good × 1.68 allocation
- $1,400
Patiosdefault
$1,700 new × 50% good × 1.68 allocation
- $15,900
Decks & porches (attached)listing
$18,900 new × 50% good × 1.68 allocation
- $173,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$182,100 new × 57% good × 1.68 allocation
- $15,300
Building plumbing & fixturesdefault
$18,900 new × 48% good × 1.68 allocation
- $15,000
Building electrical & lightingdefault
$18,600 new × 48% good × 1.68 allocation
- $12,700
HVACdefault
$18,900 new × 40% good × 1.68 allocation
- $4,900
Hardwood & tile floorsdefault
$7,200 new × 40% good × 1.68 allocation
- $10,100
Septic systemlisting
$12,000 new × 50% good × 1.68 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $53,700 | $27,900 | $200 | $81,800 |
| 2 | $0 | $0 | $5,900 | $5,900 |
| 3 | $0 | $0 | $5,900 | $5,900 |
| 4 | $0 | $0 | $5,900 | $5,900 |
| 5 | $0 | $0 | $5,900 | $5,900 |
| 6+ | $0 | $0 | $207,600 | $207,600 |
| Total | $53,700 | $27,900 | $231,600 | $313,200 |
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, Georgia and Wisconsin 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.