2119 Star Creek Rd
Morganton, GA 30560
$598,000
4 bd · 2.5 ba · 2,252 sqft · Listed 6d ago
View on Realtor.com →Year built
2021
Sqft
2,252
Lot sqft
94,090
HOA / mo
$0
Furnished
No
List date
2026-09-21T02:49:54.000000Z
Revenue
Annual revenue
$40,613
ADR
$209
Occupancy
53%
Cleaning fees (12 mo)
$7,148
Confidence
High (77.37), 7 comps
Comp revenue range (p25 / median / p75)
Above Expectations-New Exterior-Sleeps 8-Hot Tub-Games Galore-Nature
Vacation home · 4 bd · 3 ba · sleeps 8 · 0.2 mi
Revenue $48,769ADR $320Occ ≈ 42%4.7★ (12)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Above Expectations- Pet Friendly, Hot Tub, FirePit Cabin | 3 bd · 3 ba · sleeps 6 | $28,320 | $424 | 18% | 4.8★ (10) | 0.2 mi | AirbnbVrbo |
Above Expectations-New Exterior-Sleeps 8-Hot Tub-Games Galore-Nature Vacation home | 4 bd · 3 ba · sleeps 8 | $48,769 | $320 | 42% | 4.7★ (12) | 0.2 mi | Booking |
Highland Nook -Pet Friendly, Mtn View, Sauna Cabin | 3 bd · 3.5 ba · sleeps 8 | $38,902 | $310 | 34% | 4.5★ (4) | 0.3 mi | AirbnbVrbo |
New Exterior|Sleeps 8|Hot Tub|Games Galore|Nature Cabin | 3 bd · 3 ba · sleeps 8 | $40,745 | $302 | 37% | 5★ (64) | 0.3 mi | AirbnbVrbo |
Big Papa Bear Cub House w/ Hot Tub & Mountain View Cabin | 4 bd · 3 ba · sleeps 8 | $34,359 | $201 | 47% | 5★ (118) | 0.4 mi | AirbnbBooking |
Big Papa Bear Cub House Cabin | 4 bd · 3 ba · sleeps 10 | $39,135 | $232 | 46% | 4.9★ (25) | 0.4 mi | AirbnbVrbo |
Cruach Mor Cabin | 4 bd · 3.5 ba · sleeps 8 | $56,576 | $0 | — | 5★ (3) | 0.4 mi | AirbnbVrboBooking |
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
Est. revenue
$40,613
NOI
$16,379
Cash flow /mo
$1,365
Cash needed
$644,920
Cash-on-cash (all cash)
2.5%
ROE (yr 1)
5.3%
Cap rate
2.7%
DSCR
—
Year-1 write-off
$115,388
Year-1 tax shield @ 32%
$36,924
Year-1 return on equity
- Cash flow (annual)$16,379
- Principal paydown (n/a, cash)$0
- Appreciation at%$17,940
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$8,123
- Platform fees (3% of revenue)$1,218
- Maintenance / capex (5% of revenue)$2,031
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,294
- Insurance (STR-rated)$6,369
Cash needed to close
- Purchase price (all cash)$598,000
- Closing costs (4.0%)$23,920
- Furnishing (bought new)$23,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$36,924
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
$561,000
Short-life (5/15-yr)
$91,000 · 16%
Year-1 deduction
$115,000
Year-1 tax shield @ 32%
$37,000
Land 6% (county tax record, market value split) · building $470,000 over 39 years · new furniture $23,000
Based on: 2,252 sq ft, built 2021, 4 bd / 2.5 ba, unfurnished, listing features (fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $83,000 in year 1 (10% short-life, $26,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $12,900
Kitchen cabinetsdefault
$10,700 new × 80% good × 1.50 allocation
- $10,600
Kitchen countertopsdefault
$8,800 new × 80% good × 1.50 allocation
- $4,700
Decorative trimdefault
$3,900 new × 80% good × 1.50 allocation
- $300
Mirrorsdefault
$300 new × 58% good × 1.50 allocation
- $1,800
Shelvingdefault
$1,500 new × 80% good × 1.50 allocation
- $4,300
Window coverings (23)default
$5,800 new × 50% good × 1.50 allocation
- $11,300
Kitchen & laundry equipment plumbingdefault
$8,400 new × 90% good × 1.50 allocation
- $6,800
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 90% good × 1.50 allocation
- $6,800
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 58% good × 1.50 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $14,800
Paving: driveway & walks (paved)listing
$12,300 new × 80% good × 1.50 allocation
- $11,400
Landscaping (typical)default
$9,500 new × 80% good × 1.50 allocation
- $2,700
Patiosdefault
$2,200 new × 80% good × 1.50 allocation
- $2,500
Decks & porches (attached)default
$2,200 new × 75% good × 1.50 allocation
- $336,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$244,300 new × 92% good × 1.50 allocation
- $34,300
Building plumbing & fixturesdefault
$25,400 new × 90% good × 1.50 allocation
- $34,900
Building electrical & lightingdefault
$25,800 new × 90% good × 1.50 allocation
- $28,600
HVACdefault
$25,400 new × 75% good × 1.50 allocation
- $17,400
Hardwood & tile floorsdefault
$14,500 new × 80% good × 1.50 allocation
- $3,200
Fireplacelisting
$2,600 new × 80% good × 1.50 allocation
- $14,400
Septic systemlisting
$12,000 new × 80% good × 1.50 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $82,500 | $31,400 | $1,500 | $115,400 |
| 2 | $0 | $0 | $12,000 | $12,000 |
| 3 | $0 | $0 | $12,000 | $12,000 |
| 4 | $0 | $0 | $12,000 | $12,000 |
| 5 | $0 | $0 | $12,000 | $12,000 |
| 6+ | $0 | $0 | $420,000 | $420,000 |
| Total | $82,500 | $31,400 | $469,700 | $583,500 |
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.