129 Adra Ln
Morganton, GA 30560
$795,000
5 bd · 4,510 sqft · Listed 2d ago
View on Realtor.com →Year built
1997
Sqft
4,510
Lot sqft
76,230
HOA / mo
$0
Furnished
No
List date
2026-09-25T20:32:22.000000Z
Revenue
Annual revenue
$48,136
ADR
$292
Occupancy
45%
Cleaning fees (12 mo)
$15,601
Confidence
Low (23.26), 6 comps
Comp revenue range (p25 / median / p75)
Luxury Cabin Hot Tub and Fire Pit Near Lake
Vacation home · 4 bd · 0 ba · sleeps 10 · 456 ft
Revenue $56,956ADR $517Occ ≈ 30%—
GameRoom/HotTub/FirePit/WiFi/Minutes to Blue Ridge
Cabin · 4 bd · 2 ba · sleeps 10 · 1.7 mi
Revenue $8,503ADR $278Occ ≈ 8%4.7★ (18)
Blue Ridge Cottage 3 mins to lake/4 mins to town
Cottage · 4 bd · 2 ba · sleeps 10 · 2.2 mi
Revenue $27,685ADR $142Occ ≈ 53%5★ (48)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Luxury Cabin Hot Tub and Fire Pit Near Lake Vacation home | 4 bd · 0 ba · sleeps 10 | $56,956 | $517 | 30% | — | 456 ft | Booking |
Lake, Fun, BBQ & Family. Charming & Cozy HOME! House | 4 bd · 2 ba · sleeps 9 | $21,394 | $230 | 25% | 4.8★ (61) | 1.0 mi | AirbnbVrbo |
Peaceful Blue Ridge Cabin w/ Hot Tub & Fire Pit Cabin | 4 bd · 1 ba · sleeps 13 | $63,277 | $363 | 48% | 4.9★ (39) | 1.7 mi | AirbnbVrboBooking |
GameRoom/HotTub/FirePit/WiFi/Minutes to Blue Ridge Cabin | 4 bd · 2 ba · sleeps 10 | $8,503 | $278 | 8% | 4.7★ (18) | 1.7 mi | Airbnb |
New Listing/Escape Room Meets Cabin! HotTub/Fire Cabin | 4 bd · 2 ba · sleeps 10 | $8,391 | $383 | 6% | 3.8★ (5) | 1.8 mi | AirbnbVrbo |
Blue Ridge Cottage 3 mins to lake/4 mins to town Cottage | 4 bd · 2 ba · sleeps 10 | $27,685 | $142 | 53% | 5★ (48) | 2.2 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$48,136
NOI
$20,707
Cash flow /mo
-$2,558
Cash needed
$257,050
Cash-on-cash
-11.9%
ROE (yr 1)
-0.6%
Cap rate
2.6%
DSCR
0.40
Year-1 write-off
$170,646
Year-1 tax shield @ 32%
$54,607
Year-1 return on equity
- Cash flow (annual)-$30,701
- Principal paydown$5,202
- Appreciation at%$23,850
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$9,627
- Platform fees (3% of revenue)$1,444
- Maintenance / capex (5% of revenue)$2,407
- Utilities & supplies$4,200
- HOA$0
- Property tax$1,284
- Insurance (STR-rated)$8,467
Cash needed to close
- Down payment (25%)$198,750
- Closing costs (4.0%)$31,800
- Furnishing (bought new)$26,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$54,607
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
$742,000
Short-life (5/15-yr)
$142,000 · 19%
Year-1 deduction
$171,000
Year-1 tax shield @ 32%
$55,000
Land 7% (county tax record, market value split) · building $600,000 over 39 years · new furniture $27,000
Based on: 4,510 sq ft, built 1997, 5 bd, unfurnished, listing features (hot tub, deck, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $97,000 in year 1 (9% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,300
Kitchen cabinetsdefault
$15,700 new × 40% good × 1.80 allocation
- $9,200
Kitchen countertopsdefault
$12,800 new × 40% good × 1.80 allocation
- $5,700
Decorative trimdefault
$7,900 new × 40% good × 1.80 allocation
- $400
Mirrorsdefault
$600 new × 40% good × 1.80 allocation
- $1,300
Shelvingdefault
$1,800 new × 40% good × 1.80 allocation
- $8,100
Window coverings (45)default
$11,300 new × 40% good × 1.80 allocation
- $5,200
Carpet, vinyl & laminate (25% of floors)listing
$7,300 new × 40% good × 1.80 allocation
- $9,200
Kitchen & laundry equipment plumbingdefault
$12,200 new × 42% good × 1.80 allocation
- $5,600
Kitchen, laundry & data equipment electricaldefault
$7,400 new × 42% good × 1.80 allocation
- $5,500
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 40% good × 1.80 allocation
- $6,500
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.80 allocation
- $26,500
Furniture bought newlisting
$26,500 new × 100% good · bought separately
- $12,500
Paving: driveway & walks (paved)default
$13,900 new × 50% good × 1.80 allocation
- $12,000
Landscaping (typical)default
$13,400 new × 50% good × 1.80 allocation
- $4,000
Patiosdefault
$4,500 new × 50% good × 1.80 allocation
- $45,600
Decks & porches (attached)listing
$50,700 new × 50% good × 1.80 allocation
- $455,600
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$490,400 new × 52% good × 1.80 allocation
- $38,500
Building plumbing & fixturesdefault
$50,900 new × 42% good × 1.80 allocation
- $41,100
Building electrical & lightingdefault
$54,400 new × 42% good × 1.80 allocation
- $36,500
HVACdefault
$50,800 new × 40% good × 1.80 allocation
- $15,700
Hardwood & tile floorsdefault
$21,800 new × 40% good × 1.80 allocation
- $1,900
Fireplacelisting
$2,600 new × 40% good × 1.80 allocation
- $10,800
Septic systemlisting
$12,000 new × 50% good × 1.80 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $94,500 | $74,200 | $1,900 | $170,600 |
| 2 | $0 | $0 | $15,400 | $15,400 |
| 3 | $0 | $0 | $15,400 | $15,400 |
| 4 | $0 | $0 | $15,400 | $15,400 |
| 5 | $0 | $0 | $15,400 | $15,400 |
| 6+ | $0 | $0 | $536,600 | $536,600 |
| Total | $94,500 | $74,200 | $600,100 | $768,800 |
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.