839 Enchanting Cir
Morganton, GA 30560
$600,000
3 bd · 2.5 ba · 4,272 sqft · Listed 1d ago
View on Realtor.com →Year built
2005
Sqft
4,272
Lot sqft
72,745
HOA / mo
$42
Furnished
No
List date
2026-10-22T18:25:18.000000Z
Revenue
Annual revenue
$52,253
ADR
$330
Occupancy
43%
Cleaning fees (12 mo)
$10,779
Confidence
Med (53.76), 11 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $43,029
Little Bear Cabin
Cabin · 3 bd · 2 ba · sleeps 6 · 0.4 mi
- A/C
- Free parking
- Wifi
- Kitchen
- +2
Revenue $32,690ADR $219Occ ≈ 41%4.9★ (9)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Eagles View Ridge - Scenic Dips, Sips & S’mores Cabin | 3 bd · 3 ba · sleeps 8 | $39,876 | $299 | 37% | 4.5★ (24) | 171 ft | AirbnbVrboBooking |
Ella-Vation- Mountain Views, Hot Tub, Pool Table Cabin | 3 bd · 2.5 ba · sleeps 8 | $62,472 | $399 | 43% | 4.8★ (8) | 469 ft | AirbnbVrbo |
Ella-Vation Vacation home | 3 bd · 3 ba · sleeps 8 | $59,193 | $377 | 43% | — | 0.2 mi | Booking |
Almost Like Home - Morganton,GA Cabin | 3 bd · 3 ba · sleeps 8 | $24,291 | $356 | 19% | — | 0.2 mi | AirbnbVrboBooking |
Champagne Chalet- MTN Views, Hot Tub, Secluded Cabin
| 3 bd · 2.5 ba · sleeps 7 | $44,599 | $246 | 50% | 4.5★ (25) | 0.3 mi | AirbnbVrboBooking |
Modern Mountaintop A-Frame | Wineries, Views, Lake Cabin | 3 bd · 1.5 ba · sleeps 6 | $81,427 | $264 | 85% | 4.9★ (300) | 0.3 mi | AirbnbVrbo |
Little Bear Cabin Cabin
| 3 bd · 2 ba · sleeps 6 | $32,690 | $219 | 41% | 4.9★ (9) | 0.4 mi | Airbnb |
Incredible VIEWS! Hot Tub-Game Room-Luxury Cabin
| 3 bd · 3.5 ba · sleeps 10 | $82,644 | $321 | 71% | 4.8★ (135) | 0.4 mi | AirbnbVrbo |
Sunset Summit | Morganton, GA Cabin
| 3 bd · 3 ba · sleeps 6 | $41,458 | $335 | 34% | 4.9★ (9) | 0.5 mi | AirbnbVrbo |
Deer Acres House | 3 bd · 2.5 ba · sleeps 7 | $10,606 | $190 | 15% | 4.8★ (28) | 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
Rate 8.07% = 7.32% Freddie Mac 30-yr avg (Oct 22) + 0.75% investor premium
Est. revenue
$52,253
NOI
$26,183
Cash flow /mo
-$1,142
Cash needed
$199,500
Cash-on-cash
-6.9%
ROE (yr 1)
4.0%
Cap rate
4.4%
DSCR
0.66
Year-1 write-off
$110,688
Year-1 tax shield @ 32%
$35,420
Year-1 return on equity
- Cash flow (annual)-$13,704
- Principal paydown$3,707
- Appreciation at%$18,000
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)$10,451
- Platform fees (3% of revenue)$1,568
- Maintenance / capex (5% of revenue)$2,613
- Utilities & supplies$4,200
- HOA$504
- Property tax$345
- Insurance (STR-rated)$6,390
Cash needed to close
- Down payment (25%)$150,000
- Closing costs (4.0%)$24,000
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$35,420
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
$531,000
Short-life (5/15-yr)
$85,000 · 16%
Year-1 deduction
$111,000
Year-1 tax shield @ 32%
$35,000
Land 11% (county tax record, market value split) · building $447,000 over 39 years · new furniture $26,000
Based on: 4,272 sq ft, built 2005, 3 bd / 2.5 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $67,000 in year 1 (8% short-life, $22,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $6,800
Kitchen cabinetsdefault
$15,200 new × 40% good × 1.12 allocation
- $5,600
Kitchen countertopsdefault
$12,400 new × 40% good × 1.12 allocation
- $3,400
Decorative trimdefault
$7,500 new × 40% good × 1.12 allocation
- $100
Mirrorsdefault
$300 new × 40% good × 1.12 allocation
- $500
Shelvingdefault
$1,200 new × 40% good × 1.12 allocation
- $4,800
Window coverings (43)default
$10,800 new × 40% good × 1.12 allocation
- $7,700
Kitchen & laundry equipment plumbingdefault
$11,800 new × 58% good × 1.12 allocation
- $4,600
Kitchen, laundry & data equipment electricaldefault
$7,100 new × 58% good × 1.12 allocation
- $3,000
Appliances (range, microwave, dishwasher, refrigerator, washer)listing
$6,700 new × 40% good × 1.12 allocation
- $4,000
Hot tub (freestanding)listing
$9,000 new × 40% good × 1.12 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $7,600
Paving: driveway & walks (paved)default
$13,500 new × 50% good × 1.12 allocation
- $7,300
Landscaping (typical)default
$13,000 new × 50% good × 1.12 allocation
- $2,400
Patiosdefault
$4,200 new × 50% good × 1.12 allocation
- $26,900
Decks & porches (attached)listing
$48,100 new × 50% good × 1.12 allocation
- $338,800
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$465,300 new × 65% good × 1.12 allocation
- $31,300
Building plumbing & fixturesdefault
$48,200 new × 58% good × 1.12 allocation
- $33,400
Building electrical & lightingdefault
$51,400 new × 58% good × 1.12 allocation
- $21,600
HVACdefault
$48,100 new × 40% good × 1.12 allocation
- $12,300
Hardwood & tile floorsdefault
$27,500 new × 40% good × 1.12 allocation
- $2,400
Fireplaces (2)listing
$5,300 new × 40% good × 1.12 allocation
- $6,700
Septic systemlisting
$12,000 new × 50% good × 1.12 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $66,000 | $44,200 | $500 | $110,700 |
| 2 | $0 | $0 | $11,400 | $11,400 |
| 3 | $0 | $0 | $11,400 | $11,400 |
| 4 | $0 | $0 | $11,400 | $11,400 |
| 5 | $0 | $0 | $11,400 | $11,400 |
| 6+ | $0 | $0 | $400,300 | $400,300 |
| Total | $66,000 | $44,200 | $446,600 | $556,800 |
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: 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.