769 Voylestown Rd
Morganton, GA 30560
$849,900
5 bd · 4.5 ba · 4,174 sqft · Listed 24d ago
View on Realtor.com →Year built
2022
Sqft
4,174
Lot sqft
174,240
HOA / mo
$0
Furnished
No
List date
2026-09-03T13:51:26.000000Z
Revenue
Annual revenue
$59,145
ADR
$336
Occupancy
48%
Cleaning fees (12 mo)
$11,515
Confidence
Low (31.46), 7 comps
Comp revenue range (p25 / median / p75)
River Run Chalets - Nottely Riverfront, Starlink w/ Roku TV, Easy River Access
Chalet · 5 bd · 4 ba · sleeps 11 · 2.0 mi
Revenue $48,312ADR $240Occ ≈ 55%4.9★ (115)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Mtn View & Game Room in Morganton: Spacious Cabin! House | 5 bd · 4 ba · sleeps 10 | $61,833 | $387 | 44% | 4.7★ (14) | 7 ft | AirbnbVrboBooking |
Large Luxe Cabin w/ Hot Tub ~ 16 Mi to Blue Ridge Cabin | 5 bd · 3.5 ba · sleeps 15 | $8,685 | $0 | — | 4.8★ (134) | 1.0 mi | AirbnbVrboBooking |
BigFoot Lodge|Amazing Long Range Views / Hot tub House | 5 bd · 3.5 ba · sleeps 14 | $19,651 | $416 | 13% | 4.8★ (24) | 1.0 mi | AirbnbVrboBooking |
Once Upon an Oak Ledge -Pet Friendly, Hot tub Cabin | 5 bd · 4 ba · sleeps 16 | $94,279 | $678 | 38% | 5★ (6) | 1.3 mi | AirbnbVrbo |
Nature's Hollow Private Retreat Large Compound Cabin | 5 bd · 4.5 ba · sleeps 14 | $27,097 | $670 | 11% | 5★ (7) | 1.3 mi | AirbnbVrbo |
Serenity - Mineral Bluff, GA with 270 Degree Long Cabin | 5 bd · 5.5 ba · sleeps 14 | $94,287 | $658 | 39% | 4.8★ (33) | 1.9 mi | AirbnbVrboBooking |
River Run Chalets - Nottely Riverfront, Starlink w/ Roku TV, Easy River Access Chalet | 5 bd · 4 ba · sleeps 11 | $48,312 | $240 | 55% | 4.9★ (115) | 2.0 mi | Vrbo |
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
$59,145
NOI
$24,903
Cash flow /mo
-$2,505
Cash needed
$278,971
Cash-on-cash
-10.8%
ROE (yr 1)
0.4%
Cap rate
2.9%
DSCR
0.45
Year-1 write-off
$179,769
Year-1 tax shield @ 32%
$57,526
Year-1 return on equity
- Cash flow (annual)-$30,055
- Principal paydown$5,562
- Appreciation at%$25,497
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,829
- Platform fees (3% of revenue)$1,774
- Maintenance / capex (5% of revenue)$2,957
- Utilities & supplies$4,200
- HOA$0
- Property tax$4,430
- Insurance (STR-rated)$9,051
Cash needed to close
- Down payment (25%)$212,475
- Closing costs (4.0%)$33,996
- Furnishing (bought new)$32,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$57,526
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
$733,000
Short-life (5/15-yr)
$145,000 · 20%
Year-1 deduction
$180,000
Year-1 tax shield @ 32%
$58,000
Land 14% (county tax record, market value split) · building $588,000 over 39 years · new furniture $33,000
Based on: 4,174 sq ft, built 2022, 5 bd / 4.5 ba, unfurnished, listing features (deck, patio, game room, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $110,000 in year 1 (10% short-life, $35,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $12,800
Kitchen cabinetsdefault
$14,900 new × 84% good × 1.02 allocation
- $10,500
Kitchen countertopsdefault
$12,200 new × 84% good × 1.02 allocation
- $6,300
Decorative trimdefault
$7,300 new × 84% good × 1.02 allocation
- $400
Mirrorsdefault
$600 new × 67% good × 1.02 allocation
- $1,500
Shelvingdefault
$1,800 new × 84% good × 1.02 allocation
- $6,400
Window coverings (42)default
$10,500 new × 60% good × 1.02 allocation
- $9,100
Carpet, vinyl & laminate (50% of floors)listing
$13,400 new × 67% good × 1.02 allocation
- $10,900
Kitchen & laundry equipment plumbingdefault
$11,600 new × 92% good × 1.02 allocation
- $6,600
Kitchen, laundry & data equipment electricaldefault
$7,000 new × 92% good × 1.02 allocation
- $3,900
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 67% good × 1.02 allocation
- $26,500
Furniture bought newlisting
$26,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $11,500
Paving: driveway & walks (paved)default
$13,400 new × 84% good × 1.02 allocation
- $11,000
Landscaping (typical)default
$12,900 new × 84% good × 1.02 allocation
- $16,100
Patioslisting
$18,800 new × 84% good × 1.02 allocation
- $38,300
Decks & porches (attached)listing
$47,000 new × 80% good × 1.02 allocation
- $431,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$453,700 new × 93% good × 1.02 allocation
- $44,200
Building plumbing & fixturesdefault
$47,100 new × 92% good × 1.02 allocation
- $47,100
Building electrical & lightingdefault
$50,200 new × 92% good × 1.02 allocation
- $38,400
HVACdefault
$47,000 new × 80% good × 1.02 allocation
- $11,500
Hardwood & tile floorsdefault
$13,400 new × 84% good × 1.02 allocation
- $4,500
Fireplaces (2)listing
$5,300 new × 84% good × 1.02 allocation
- $10,300
Septic systemlisting
$12,000 new × 84% good × 1.02 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $100,900 | $76,900 | $1,900 | $179,800 |
| 2 | $0 | $0 | $15,100 | $15,100 |
| 3 | $0 | $0 | $15,100 | $15,100 |
| 4 | $0 | $0 | $15,100 | $15,100 |
| 5 | $0 | $0 | $15,100 | $15,100 |
| 6+ | $0 | $0 | $525,700 | $525,700 |
| Total | $100,900 | $76,900 | $587,900 | $765,800 |
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.