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Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

135 Rolling Hills Dr

135 Rolling Hills Dr

Morganton, GA 30560

$950,000

5 bd · 3 ba · 3,724 sqft · Listed 24d ago

View on Realtor.com →
Negative cash flow

Year built

2005

Sqft

3,724

Lot sqft

100,188

HOA / mo

$0

Furnished

No

List date

2026-09-03T20:14:47.000000Z

Revenue

Annual revenue

$45,788

ADR

$307

Occupancy

41%

Cleaning fees (12 mo)

$8,758

Confidence

Med (55.27), 16 comps

Comp revenue range (p25 / median / p75)

$31,549$48,156$55,722

  • Rolling Hills Hideaway

    Cabin · 4 bd · 3 ba · sleeps 8 · 427 ft

    Revenue $31,992ADR $275Occ ≈ 32%5★ (28)

    AirbnbVrbo

  • ~EverGreen Family Retreat~Slp16*HotTub*Pets*Arcade

    Cabin · 4 bd · 3.5 ba · sleeps 16 · 0.1 mi

    Revenue $52,786ADR $392Occ ≈ 37%3.8★ (29)

    AirbnbVrbo

  • Pet Friendly, Hot Tub, Large Porches, Blue Ridge

    Cabin · 4 bd · 3.5 ba · sleeps 14 · 0.2 mi

    Revenue $30,221ADR $346Occ ≈ 24%4.9★ (11)

    AirbnbVrboBooking

  • Cabin in the Blue Ridge mountains on private lake!

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.3 mi

    Revenue $83,589ADR $376Occ ≈ 61%5★ (61)

    AirbnbVrbo

  • Sunrays | Hot Tub, Outdoor Fireplace & Game

    Cabin · 4 bd · 4 ba · sleeps 12 · 0.4 mi

    Revenue $58,045ADR $359Occ ≈ 44%5★ (103)

    AirbnbVrbo

  • Stunning Views, Pet Friendly, Blue Ridge, Hot Tub

    Cabin · 4 bd · 3 ba · sleeps 10 · 0.5 mi

    Revenue $54,947ADR $385Occ ≈ 39%5★ (14)

    AirbnbVrboBooking

  • 5 Mi to Blue Ridge Lake: Cabin w/ Fire Pit!

    Cabin · 4 bd · 2 ba · sleeps 9 · 0.5 mi

    Revenue $24,076ADR $242Occ ≈ 27%4.5★ (9)

    AirbnbVrboBooking

  • Sunrise on the Ridge - Mineral Bluff, GA

    Cabin · 4 bd · 3 ba · sleeps 11 · 0.5 mi

    Revenue $49,544ADR $380Occ ≈ 36%4.8★ (48)

    AirbnbVrboBooking

  • Long Range View, Deck, Hot Tub, Pet Friendly

    Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.5 mi

    Revenue $22,062ADR $328Occ ≈ 18%5★ (31)

    AirbnbVrboBooking

  • Blue Ridge, Long Range Views, Fenced Yard, Hot Tub

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.5 mi

    Revenue $46,767ADR $346Occ ≈ 37%5★ (54)

    AirbnbVrboBooking

Show all 16 comps

  • Private Pool | Hot Tub | Games | Sleep 16

    Cabin · 5 bd · 3 ba · sleeps 16 · 0.5 mi

    Revenue $96,714ADR $532Occ ≈ 50%5★ (46)

    AirbnbVrbo

  • Mountain Views-Hot Tub-Games-Pool & Foosball

    Vacation home · 4 bd · 3 ba · sleeps 8 · 0.6 mi

    Revenue $35,659ADR $289Occ ≈ 34%—

    Booking

  • Sweet Summer BR Cabin Views-Hot Tub-Best S’mores

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.7 mi

    Revenue $35,587ADR $354Occ ≈ 28%5★ (10)

    AirbnbVrbo

  • Copper Leaf-Luxury, Hot Tub, Pool Table, Fire Pit

    Cabin · 4 bd · 3.5 ba · sleeps 9 · 0.7 mi

    Revenue $52,560ADR $387Occ ≈ 37%5★ (29)

    AirbnbVrbo

  • Pet Friendly, Blue Ridge, Hot Tub, 3 King Beds

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.8 mi

    Revenue $22,883ADR $336Occ ≈ 19%4.9★ (8)

    AirbnbVrboBooking

  • An Owl's Perch- Pet Friendly, Game Room, Firepit

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.8 mi

    Revenue $59,840ADR $437Occ ≈ 38%5★ (3)

    Airbnb

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
Term

Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium

Est. revenue

$45,788

NOI

$17,633

Cash flow /mo

-$3,650

Cash needed

$308,000

Cash-on-cash

-14.2%

ROE (yr 1)

-2.9%

Cap rate

1.9%

DSCR

0.29

Year-1 write-off

$200,002

Year-1 tax shield @ 32%

$64,001

Year-1 return on equity

  • Cash flow (annual)-$43,798
  • Principal paydown$6,217
  • Appreciation at%$28,500
ROE-2.9%
ROE incl. year-1 tax savings (32% bracket, STR loophole)17.8%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$9,158
  • Platform fees (3% of revenue)$1,374
  • Maintenance / capex (5% of revenue)$2,289
  • Utilities & supplies$4,200
  • HOA$0
  • Property tax$1,017
  • Insurance (STR-rated)$10,118

Cash needed to close

  • Down payment (25%)$237,500
  • Closing costs (4.0%)$38,000
  • Furnishing (bought new)$32,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$64,001

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

$898,000

Short-life (5/15-yr)

$165,000 · 18%

Year-1 deduction

$200,000

Year-1 tax shield @ 32%

$64,000

Land 5% (county tax record, market value split) · building $733,000 over 39 years · new furniture $33,000

Based on: 3,724 sq ft, built 2005, 5 bd / 3 ba, unfurnished, listing features (deck, patio, game room, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $127,000 in year 1 (10% short-life, $41,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$103,500

  • Kitchen cabinetsdefault

    $14,000 new × 40% good × 2.13 allocation

    $11,900

  • Kitchen countertopsdefault

    $11,400 new × 40% good × 2.13 allocation

    $9,700

  • Decorative trimdefault

    $6,500 new × 40% good × 2.13 allocation

    $5,500

  • Mirrorsdefault

    $500 new × 40% good × 2.13 allocation

    $400

  • Shelvingdefault

    $1,800 new × 40% good × 2.13 allocation

    $1,500

  • Window coverings (37)default

    $9,300 new × 40% good × 2.13 allocation

    $7,900

  • Carpet, vinyl & laminate (33% of floors)listing

    $8,000 new × 40% good × 2.13 allocation

    $6,800

  • Kitchen & laundry equipment plumbingdefault

    $10,900 new × 58% good × 2.13 allocation

    $13,400

  • Kitchen, laundry & data equipment electricaldefault

    $6,600 new × 58% good × 2.13 allocation

    $8,100

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

    $6,700 new × 40% good × 2.13 allocation

    $5,700

  • Furniture bought newlisting

    $26,500 new × 100% good · bought separately

    $26,500

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$94,200

  • Paving: driveway & walks (paved)default

    $12,700 new × 50% good × 2.13 allocation

    $13,500

  • Landscaping (typical)default

    $12,200 new × 50% good × 2.13 allocation

    $13,000

  • Patioslisting

    $16,800 new × 50% good × 2.13 allocation

    $17,800

  • Decks & porches (attached)listing

    $41,900 new × 50% good × 2.13 allocation

    $44,600

  • Gazebo / pergolalisting

    $5,000 new × 50% good × 2.13 allocation

    $5,300
Building, 39-year$733,300

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

    $404,700 new × 65% good × 2.13 allocation

    $559,900

  • Building plumbing & fixturesdefault

    $42,000 new × 58% good × 2.13 allocation

    $51,900

  • Building electrical & lightingdefault

    $44,500 new × 58% good × 2.13 allocation

    $54,900

  • HVACdefault

    $42,000 new × 40% good × 2.13 allocation

    $35,700

  • Hardwood & tile floorsdefault

    $16,000 new × 40% good × 2.13 allocation

    $13,600

  • Fireplaces (2)listing

    $5,300 new × 40% good × 2.13 allocation

    $4,500

  • Septic systemlisting

    $12,000 new × 50% good × 2.13 allocation

    $12,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$103,500$94,200$2,400$200,000
2$0$0$18,800$18,800
3$0$0$18,800$18,800
4$0$0$18,800$18,800
5$0$0$18,800$18,800
6+$0$0$655,700$655,700
Total$103,500$94,200$733,300$930,900

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.