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129 Adra Ln

129 Adra Ln

Morganton, GA 30560

$795,000

5 bd · 4,510 sqft · Listed 2d ago

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Low confidence

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)

$11,726$24,540$49,638

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    Revenue $56,956ADR $517Occ ≈ 30%—

    Booking

  • Lake, Fun, BBQ & Family. Charming & Cozy HOME!

    House · 4 bd · 2 ba · sleeps 9 · 1.0 mi

    Revenue $21,394ADR $230Occ ≈ 25%4.8★ (61)

    AirbnbVrbo

  • Peaceful Blue Ridge Cabin w/ Hot Tub & Fire Pit

    Cabin · 4 bd · 1 ba · sleeps 13 · 1.7 mi

    Revenue $63,277ADR $363Occ ≈ 48%4.9★ (39)

    AirbnbVrboBooking

  • 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)

    Airbnb

  • New Listing/Escape Room Meets Cabin! HotTub/Fire

    Cabin · 4 bd · 2 ba · sleeps 10 · 1.8 mi

    Revenue $8,391ADR $383Occ ≈ 6%3.8★ (5)

    AirbnbVrbo

  • 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)

    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

Est. revenue

$48,136

NOI

$20,707

Cash flow /mo

$1,726

Cash needed

$853,300

Cash-on-cash (all cash)

2.4%

ROE (yr 1)

5.2%

Cap rate

2.6%

DSCR

—

Year-1 write-off

$170,646

Year-1 tax shield @ 32%

$54,607

Year-1 return on equity

  • Cash flow (annual)$20,707
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$23,850
ROE5.2%
ROE incl. year-1 tax savings (32% bracket, STR loophole)11.6%
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

  • Purchase price (all cash)$795,000
  • 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.

5-year property$94,500

  • Kitchen cabinetsdefault

    $15,700 new × 40% good × 1.80 allocation

    $11,300

  • Kitchen countertopsdefault

    $12,800 new × 40% good × 1.80 allocation

    $9,200

  • Decorative trimdefault

    $7,900 new × 40% good × 1.80 allocation

    $5,700

  • Mirrorsdefault

    $600 new × 40% good × 1.80 allocation

    $400

  • Shelvingdefault

    $1,800 new × 40% good × 1.80 allocation

    $1,300

  • Window coverings (45)default

    $11,300 new × 40% good × 1.80 allocation

    $8,100

  • Carpet, vinyl & laminate (25% of floors)listing

    $7,300 new × 40% good × 1.80 allocation

    $5,200

  • Kitchen & laundry equipment plumbingdefault

    $12,200 new × 42% good × 1.80 allocation

    $9,200

  • Kitchen, laundry & data equipment electricaldefault

    $7,400 new × 42% good × 1.80 allocation

    $5,600

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

    $7,700 new × 40% good × 1.80 allocation

    $5,500

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 1.80 allocation

    $6,500

  • Furniture bought newlisting

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

    $26,500
15-year land improvements$74,200

  • Paving: driveway & walks (paved)default

    $13,900 new × 50% good × 1.80 allocation

    $12,500

  • Landscaping (typical)default

    $13,400 new × 50% good × 1.80 allocation

    $12,000

  • Patiosdefault

    $4,500 new × 50% good × 1.80 allocation

    $4,000

  • Decks & porches (attached)listing

    $50,700 new × 50% good × 1.80 allocation

    $45,600
Building, 39-year$600,100

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

    $490,400 new × 52% good × 1.80 allocation

    $455,600

  • Building plumbing & fixturesdefault

    $50,900 new × 42% good × 1.80 allocation

    $38,500

  • Building electrical & lightingdefault

    $54,400 new × 42% good × 1.80 allocation

    $41,100

  • HVACdefault

    $50,800 new × 40% good × 1.80 allocation

    $36,500

  • Hardwood & tile floorsdefault

    $21,800 new × 40% good × 1.80 allocation

    $15,700

  • Fireplacelisting

    $2,600 new × 40% good × 1.80 allocation

    $1,900

  • Septic systemlisting

    $12,000 new × 50% good × 1.80 allocation

    $10,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.