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839 Enchanting Cir

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)

$36,283$44,599$63,772

Median revenue of shown comps: $43,029

  • Eagles View Ridge - Scenic Dips, Sips & S’mores

    Cabin · 3 bd · 3 ba · sleeps 8 · 171 ft

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +5

    Revenue $39,876ADR $299Occ ≈ 37%4.5★ (24)

    AirbnbVrboBooking

  • Ella-Vation- Mountain Views, Hot Tub, Pool Table

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 469 ft

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +4

    Revenue $62,472ADR $399Occ ≈ 43%4.8★ (8)

    AirbnbVrbo

  • Ella-Vation

    Vacation home · 3 bd · 3 ba · sleeps 8 · 0.2 mi

    Revenue $59,193ADR $377Occ ≈ 43%—

    Booking

  • Almost Like Home - Morganton,GA

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.2 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +5

    Revenue $24,291ADR $356Occ ≈ 19%—

    AirbnbVrboBooking

  • Champagne Chalet- MTN Views, Hot Tub, Secluded

    Cabin · 3 bd · 2.5 ba · sleeps 7 · 0.3 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +4

    Revenue $44,599ADR $246Occ ≈ 50%4.5★ (25)

    AirbnbVrboBooking

  • Modern Mountaintop A-Frame | Wineries, Views, Lake

    Cabin · 3 bd · 1.5 ba · sleeps 6 · 0.3 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $81,427ADR $264Occ ≈ 85%4.9★ (300)

    AirbnbVrbo

  • 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)

    Airbnb

  • Incredible VIEWS! Hot Tub-Game Room-Luxury

    Cabin · 3 bd · 3.5 ba · sleeps 10 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Pets OK
    • +6

    Revenue $82,644ADR $321Occ ≈ 71%4.8★ (135)

    AirbnbVrbo

  • Sunset Summit | Morganton, GA

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.5 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +3

    Revenue $41,458ADR $335Occ ≈ 34%4.9★ (9)

    AirbnbVrbo

  • Deer Acres

    House · 3 bd · 2.5 ba · sleeps 7 · 0.7 mi

    Revenue $10,606ADR $190Occ ≈ 15%4.8★ (28)

    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
Management

Est. revenue

$52,253

NOI

$26,183

Cash flow /mo

$2,182

Cash needed

$649,500

Cash-on-cash (all cash)

4.0%

ROE (yr 1)

6.8%

Cap rate

4.4%

DSCR

—

Year-1 write-off

$110,688

Year-1 tax shield @ 32%

$35,420

Year-1 return on equity

  • Cash flow (annual)$26,183
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$18,000
ROE6.8%

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

  • Purchase price (all cash)$600,000
  • 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.

5-year property$66,000

  • Kitchen cabinetsdefault

    $15,200 new × 40% good × 1.12 allocation

    $6,800

  • Kitchen countertopsdefault

    $12,400 new × 40% good × 1.12 allocation

    $5,600

  • Decorative trimdefault

    $7,500 new × 40% good × 1.12 allocation

    $3,400

  • Mirrorsdefault

    $300 new × 40% good × 1.12 allocation

    $100

  • Shelvingdefault

    $1,200 new × 40% good × 1.12 allocation

    $500

  • Window coverings (43)default

    $10,800 new × 40% good × 1.12 allocation

    $4,800

  • Kitchen & laundry equipment plumbingdefault

    $11,800 new × 58% good × 1.12 allocation

    $7,700

  • Kitchen, laundry & data equipment electricaldefault

    $7,100 new × 58% good × 1.12 allocation

    $4,600

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

    $6,700 new × 40% good × 1.12 allocation

    $3,000

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 1.12 allocation

    $4,000

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$44,200

  • Paving: driveway & walks (paved)default

    $13,500 new × 50% good × 1.12 allocation

    $7,600

  • Landscaping (typical)default

    $13,000 new × 50% good × 1.12 allocation

    $7,300

  • Patiosdefault

    $4,200 new × 50% good × 1.12 allocation

    $2,400

  • Decks & porches (attached)listing

    $48,100 new × 50% good × 1.12 allocation

    $26,900
Building, 39-year$446,600

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

    $465,300 new × 65% good × 1.12 allocation

    $338,800

  • Building plumbing & fixturesdefault

    $48,200 new × 58% good × 1.12 allocation

    $31,300

  • Building electrical & lightingdefault

    $51,400 new × 58% good × 1.12 allocation

    $33,400

  • HVACdefault

    $48,100 new × 40% good × 1.12 allocation

    $21,600

  • Hardwood & tile floorsdefault

    $27,500 new × 40% good × 1.12 allocation

    $12,300

  • Fireplaces (2)listing

    $5,300 new × 40% good × 1.12 allocation

    $2,400

  • Septic systemlisting

    $12,000 new × 50% good × 1.12 allocation

    $6,700

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.