415 Morton Dr
Ellijay, GA 30540
$325,000
2 bd · 2 ba · 700 sqft · Listed 1d ago
View on Realtor.com →Year built
2004
Sqft
700
Lot sqft
148,104
HOA / mo
None
Furnished
Yes
List date
2026-10-02T19:31:02.000000Z
Revenue
Annual revenue
$20,381
ADR
$106
Occupancy
53%
Cleaning fees (12 mo)
$3,951
Confidence
Low (30.22), 6 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $16,010
Cozy Cabin with Amazing Long Range Mtn View
Vacation home · 2 bd · 2 ba · sleeps 6 · 0.4 mi
Revenue $4,637ADR $157Occ ≈ 8%5★ (1)
Mountain Top Getaway
Cabin · 2 bd · 1.5 ba · sleeps 4 · 0.7 mi
Revenue $7,649ADR $108Occ ≈ 19%4★ (2)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Gunsmoke Cabin with privacy & fenced yard! Cabin | 2 bd · 1.5 ba · sleeps 4 | $27,441 | $137 | 55% | 4.9★ (155) | 0.1 mi | AirbnbVrbo |
Stunning Mountain Views & New Hot Tub Cozy Cabin House | 2 bd · 1.5 ba · sleeps 6 | $38,841 | $180 | 59% | 4.9★ (51) | 0.4 mi | AirbnbVrbo |
Amazing View! Mountain Top Cabin w/ Fire Pit! Cabin | 2 bd · 1.5 ba · sleeps 6 | $18,375 | $140 | 36% | 5★ (29) | 0.4 mi | AirbnbVrbo |
Cozy Cabin with Amazing Long Range Mtn View Vacation home | 2 bd · 2 ba · sleeps 6 | $4,637 | $157 | 8% | 5★ (1) | 0.4 mi | Booking |
Sky Island Lodge|Sunrise Views + 3acres + Fire Pit Cabin | 2 bd · 1 ba · sleeps 4 | $13,645 | $188 | 20% | 4.2★ (7) | 0.7 mi | AirbnbVrbo |
Mountain Top Getaway Cabin | 2 bd · 1.5 ba · sleeps 4 | $7,649 | $108 | 19% | 4★ (2) | 0.7 mi | 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
Est. revenue
$20,381
NOI
$6,613
Cash flow /mo
$551
Cash needed
$338,000
Cash-on-cash (all cash)
2.0%
ROE (yr 1)
4.8%
Cap rate
2.0%
DSCR
—
Year-1 write-off
$73,078
Year-1 tax shield @ 32%
$23,385
Year-1 return on equity
- Cash flow (annual)$6,613
- Principal paydown (n/a, cash)$0
- Appreciation at%$9,750
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)$4,076
- Platform fees (3% of revenue)$611
- Maintenance / capex (5% of revenue)$1,019
- Utilities & supplies$4,200
- HOA$0
- Property tax$351
- Insurance (STR-rated)$3,510
Cash needed to close
- Purchase price (all cash)$325,000
- Closing costs (4.0%)$13,000
- Furnishing (conveyed with the sale)$0
Tax savings if the STR loophole applies
- Tax shield @ 32%$23,385
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
$269,000
Short-life (5/15-yr)
$73,000 · 27%
Year-1 deduction
$73,000
Year-1 tax shield @ 32%
$23,000
Land 18% (county tax record, market value split) · building $196,000 over 39 years
Based on: 700 sq ft, built 2004, 2 bd / 2 ba, furnished, listing features (hot tub, fireplace, flooring types, appliance list, septic, wooded lot).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $54,000 in year 1 (20% short-life, $17,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,500
Kitchen cabinetsdefault
$7,300 new × 40% good × 2.90 allocation
- $7,000
Kitchen countertopsdefault
$6,000 new × 40% good × 2.90 allocation
- $1,400
Decorative trimdefault
$1,200 new × 40% good × 2.90 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.90 allocation
- $1,000
Shelvingdefault
$900 new × 40% good × 2.90 allocation
- $2,000
Window coverings (7)default
$1,800 new × 40% good × 2.90 allocation
- $9,300
Kitchen & laundry equipment plumbingdefault
$5,700 new × 56% good × 2.90 allocation
- $5,600
Kitchen, laundry & data equipment electricaldefault
$3,400 new × 56% good × 2.90 allocation
- $7,000
Appliances (range, refrigerator, washer, dryer)listing
$6,000 new × 40% good × 2.90 allocation
- $10,500
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.90 allocation
- $6,400
Furniture conveyed with the sale (used)listing
$16,000 new × 40% good · out of the price
- $8,000
Paving: driveway & walks (paved)default
$5,500 new × 50% good × 2.90 allocation
- $3,800
Landscaping (minimal)listing
$2,600 new × 50% good × 2.90 allocation
- $1,000
Patiosdefault
$700 new × 50% good × 2.90 allocation
- $1,000
Decks & porches (attached)default
$700 new × 50% good × 2.90 allocation
- $138,500
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$75,300 new × 63% good × 2.90 allocation
- $12,700
Building plumbing & fixturesdefault
$7,800 new × 56% good × 2.90 allocation
- $10,000
Building electrical & lightingdefault
$6,100 new × 56% good × 2.90 allocation
- $9,200
HVACdefault
$7,900 new × 40% good × 2.90 allocation
- $5,200
Hardwood & tile floorsdefault
$4,500 new × 40% good × 2.90 allocation
- $3,100
Fireplacelisting
$2,600 new × 40% good × 2.90 allocation
- $17,400
Septic systemlisting
$12,000 new × 50% good × 2.90 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $59,100 | $13,800 | $200 | $73,100 |
| 2 | $0 | $0 | $5,000 | $5,000 |
| 3 | $0 | $0 | $5,000 | $5,000 |
| 4 | $0 | $0 | $5,000 | $5,000 |
| 5 | $0 | $0 | $5,000 | $5,000 |
| 6+ | $0 | $0 | $175,700 | $175,700 |
| Total | $59,100 | $13,800 | $196,000 | $268,900 |
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: 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.