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

288 Kim Bolton Dr

288 Kim Bolton Dr

Morganton, GA 30560

$499,000

2 bd · 2 ba · Listed 3d ago

View on Realtor.com →
Rental historyLow confidenceNegative cash flow

Year built

2007

Sqft

—

Lot sqft

44,867

HOA / mo

$29

Furnished

No

List date

2026-09-24T17:19:53.000000Z

Revenue

Annual revenue

$42,118

ADR

$155

Occupancy

74%

Cleaning fees (12 mo)

$7,301

Confidence

Low (25.78), 7 comps

Comp revenue range (p25 / median / p75)

$18,023$27,604$45,526

  • Hot Tub & Game Room: Charming Morganton Cabin!

    Cabin · 2 bd · 2 ba · sleeps 4 · 16 ft

    Revenue $46,653ADR $141Occ ≈ 91%4.9★ (199)

    AirbnbVrboBooking

  • Cozy Pet Friendly Cabin | Hot Tub • Mountain Views

    Cabin · 2 bd · 2 ba · sleeps 4 · 410 ft

    Revenue $870ADR $145Occ ≈ 2%5★ (2)

    AirbnbVrbo

  • Mountain-View Log Cabin Escape

    Cabin · 2 bd · 2 ba · sleeps 4 · 0.1 mi

    Revenue $27,530ADR $204Occ ≈ 37%4.8★ (72)

    AirbnbVrbo

  • The Deerpath Getaway

    House · 2 bd · 2.5 ba · sleeps 6 · 0.2 mi

    Revenue $8,515ADR $202Occ ≈ 12%4.5★ (60)

    AirbnbVrboBooking

  • Serene retreat with a hot tub, firepit, washer/dryer & seasonal mountain views

    House · 2 bd · 3 ba · sleeps 6 · 0.3 mi

    Revenue $27,604ADR $192Occ ≈ 39%4.6★ (16)

    Vrbo

  • Cozy Mountain View near Blue Ridge Ga

    Cabin · 2 bd · 2 ba · sleeps 4 · 0.3 mi

    Revenue $71,297ADR $232Occ ≈ 84%5★ (156)

    AirbnbVrbo

  • Secluded Mtn. Escape on US Forest w/HotTub + View

    Cabin · 2 bd · 1 ba · sleeps 6 · 0.5 mi

    Revenue $44,398ADR $162Occ ≈ 75%5★ (233)

    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

Financing
Term

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

Est. revenue

$42,118

NOI

$18,722

Cash flow /mo

-$1,129

Cash needed

$160,710

Cash-on-cash

-8.4%

ROE (yr 1)

2.9%

Cap rate

3.8%

DSCR

0.58

Year-1 write-off

$126,777

Year-1 tax shield @ 32%

$40,569

Year-1 return on equity

  • Cash flow (annual)-$13,546
  • Principal paydown$3,265
  • Appreciation at%$14,970
ROE2.9%
ROE incl. year-1 tax savings (32% bracket, STR loophole)28.2%
Opex, cash-needed & tax-savings breakdown

Annual operating expenses

  • Management (20% of revenue)$8,424
  • Platform fees (3% of revenue)$1,264
  • Maintenance / capex (5% of revenue)$2,106
  • Utilities & supplies$4,200
  • HOA$348
  • Property tax$1,741
  • Insurance (STR-rated)$5,314

Cash needed to close

  • Down payment (25%)$124,750
  • Closing costs (4.0%)$19,960
  • Furnishing (bought new)$16,000

Tax savings if the STR loophole applies

  • Tax shield @ 32%$40,569

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

$475,000

Short-life (5/15-yr)

$110,000 · 23%

Year-1 deduction

$127,000

Year-1 tax shield @ 32%

$41,000

Land 5% (county tax record, market value split) · building $366,000 over 39 years · new furniture $16,000

Based on: ~1,400 sq ft (from beds), built 2007, 2 bd / 2 ba, unfurnished, listing features (hot tub, deck, fence, fireplace, stone counters, flooring types, appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $83,000 in year 1 (14% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$79,900

  • Kitchen cabinetsdefault

    $8,900 new × 40% good × 2.64 allocation

    $9,400

  • Kitchen countertops (stone)listing

    $9,100 new × 40% good × 2.64 allocation

    $9,600

  • Decorative trimdefault

    $2,500 new × 40% good × 2.64 allocation

    $2,600

  • Mirrorsdefault

    $300 new × 40% good × 2.64 allocation

    $300

  • Shelvingdefault

    $900 new × 40% good × 2.64 allocation

    $1,000

  • Window coverings (14)default

    $3,500 new × 40% good × 2.64 allocation

    $3,700

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

    $3,000 new × 40% good × 2.64 allocation

    $3,200

  • Kitchen & laundry equipment plumbingdefault

    $6,900 new × 62% good × 2.64 allocation

    $11,300

  • Kitchen, laundry & data equipment electricaldefault

    $4,200 new × 62% good × 2.64 allocation

    $6,800

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

    $6,300 new × 40% good × 2.64 allocation

    $6,700

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.64 allocation

    $9,500

  • Furniture bought newlisting

    $16,000 new × 100% good · bought separately

    $16,000
15-year land improvements$45,700

  • Paving: driveway & walks (paved)default

    $7,800 new × 50% good × 2.64 allocation

    $10,200

  • Landscaping (minimal)listing

    $3,700 new × 50% good × 2.64 allocation

    $4,900

  • Patiosdefault

    $1,400 new × 50% good × 2.64 allocation

    $1,800

  • Decks & porches (attached)listing

    $15,800 new × 50% good × 2.64 allocation

    $20,800

  • Fencinglisting

    $6,000 new × 50% good × 2.64 allocation

    $7,900
Building, 39-year$365,600

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

    $151,800 new × 68% good × 2.64 allocation

    $273,700

  • Building plumbing & fixturesdefault

    $15,700 new × 62% good × 2.64 allocation

    $25,700

  • Building electrical & lightingdefault

    $15,000 new × 62% good × 2.64 allocation

    $24,600

  • HVACdefault

    $15,800 new × 40% good × 2.64 allocation

    $16,600

  • Hardwood & tile floorsdefault

    $6,000 new × 40% good × 2.64 allocation

    $6,300

  • Fireplacelisting

    $2,600 new × 40% good × 2.64 allocation

    $2,800

  • Septic systemlisting

    $12,000 new × 50% good × 2.64 allocation

    $15,800

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$79,900$45,700$1,200$126,800
2$0$0$9,400$9,400
3$0$0$9,400$9,400
4$0$0$9,400$9,400
5$0$0$9,400$9,400
6+$0$0$326,900$326,900
Total$79,900$45,700$365,600$491,200

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: 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.