48 Woodleaf Rd Unit 29

Morganton, GA 30560

$679,000

3 bd · 2.5 ba · Listed 12d ago

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Low confidenceEst. land %

Year built

2026

Sqft

—

Lot sqft

97,139

HOA / mo

Furnished

List date

2026-09-15T01:43:21.000000Z

Revenue

Annual revenue

$29,501

ADR

$235

Occupancy

34%

Cleaning fees (12 mo)

$6,229

Confidence

Med (53.06), 7 comps

Comp revenue range (p25 / median / p75)

$20,641$25,267$32,984

Stunning Escape w/ Loft, Hot Tub + Mtn Views!
Cabin · 3 bd · 3 ba · sleeps 6 · 0.5 mi
Revenue $18,494ADR $390Occ ≈ 13%5★ (45)
Airbnb Vrbo Booking
Cozy Bear Lodge Log Cabin Blue Ridge Mtns
Cabin · 3 bd · 3 ba · sleeps 10 · 0.5 mi
Revenue $44,906ADR $307Occ ≈ 40%5★ (84)
Airbnb Vrbo Booking
3 Fireplaces, Mtn Views & Dog Friendly
House · 3 bd · 3.5 ba · sleeps 7 · 0.6 mi
Revenue $25,267ADR $353Occ ≈ 20%4.9★ (68)
Airbnb Vrbo Booking
15% Off Summer Sale—Discount Already Applied!
Cabin · 3 bd · 3 ba · sleeps 6 · 0.6 mi
Revenue $28,899ADR $197Occ ≈ 40%4.8★ (21)
Airbnb Vrbo Booking
Mountain Cabin w/ Hot Tub in Morganton, GA
Cabin · 3 bd · 3 ba · sleeps 7 · 0.6 mi
Revenue $6,962ADR $341Occ ≈ 6%5★ (1)
Airbnb Vrbo
3BR mountain view cabin with deck & fireplace
Cabin · 3 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $22,788ADR $201Occ ≈ 31%4.7★ (43)
Airbnb Vrbo Booking
Mountain Hideaway | Hot Tub | Gameroom
Cabin · 3 bd · 3 ba · sleeps 6 · 0.7 mi
Revenue $37,068ADR $202Occ ≈ 50%5★ (107)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
Stunning Escape w/ Loft, Hot Tub + Mtn Views! Cabin	3 bd · 3 ba · sleeps 6	$18,494	$390	13%	5★ (45)	0.5 mi	Airbnb Vrbo Booking
Cozy Bear Lodge Log Cabin Blue Ridge Mtns Cabin	3 bd · 3 ba · sleeps 10	$44,906	$307	40%	5★ (84)	0.5 mi	Airbnb Vrbo Booking
3 Fireplaces, Mtn Views & Dog Friendly House	3 bd · 3.5 ba · sleeps 7	$25,267	$353	20%	4.9★ (68)	0.6 mi	Airbnb Vrbo Booking
15% Off Summer Sale—Discount Already Applied! Cabin	3 bd · 3 ba · sleeps 6	$28,899	$197	40%	4.8★ (21)	0.6 mi	Airbnb Vrbo Booking
Mountain Cabin w/ Hot Tub in Morganton, GA Cabin	3 bd · 3 ba · sleeps 7	$6,962	$341	6%	5★ (1)	0.6 mi	Airbnb Vrbo
3BR mountain view cabin with deck & fireplace Cabin	3 bd · 2 ba · sleeps 6	$22,788	$201	31%	4.7★ (43)	0.7 mi	Airbnb Vrbo Booking
Mountain Hideaway \| Hot Tub \| Gameroom Cabin	3 bd · 3 ba · sleeps 6	$37,068	$202	50%	5★ (107)	0.7 mi	Airbnb 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

Financing

Purchase priceAlready furnishedTax bracket

Est. revenue

$29,501

NOI

$4,649

Cash flow /mo

$387

Cash needed

$725,660

Cash-on-cash (all cash)

0.6%

ROE (yr 1)

3.4%

Cap rate

0.7%

DSCR

—

Year-1 write-off

$119,574

Year-1 tax shield @ 32%

$38,264

Year-1 return on equity

Cash flow (annual)$4,649
Principal paydown (n/a, cash)$0
Appreciation at%$20,370

ROE3.4%

ROE incl. year-1 tax savings (32% bracket, STR loophole)8.7%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$5,900
Platform fees (3% of revenue)$885
Maintenance / capex (5% of revenue)$1,475
Utilities & supplies$4,200
HOA$0
Property tax$5,160
Insurance (STR-rated)$7,231

Cash needed to close

Purchase price (all cash)$679,000
Closing costs (4.0%)$27,160
Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

Tax shield @ 32%$38,264

No county tax record split for property tax, insurance rate and the land/building split, so those use market defaults — edit the price above; 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

$577,000

Short-life (5/15-yr)

$99,000 · 17%

Year-1 deduction

$120,000

Year-1 tax shield @ 32%

$38,000

Land 15% (market default, no usable tax-record split) · building $479,000 over 39 years · new furniture $20,000

Based on: ~1,900 sq ft (from beds), built 2026, 3 bd / 2.5 ba, unfurnished, listing features (fireplace, flooring types, appliance list, septic, wooded lot).

IRS-guide safe-harbor floor: $80,000 in year 1 (10% short-life, $26,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$90,400

Kitchen cabinetsdefault
$10,000 new × 100% good × 1.61 allocation
$16,100
Kitchen countertopsdefault
$8,200 new × 100% good × 1.61 allocation
$13,100
Decorative trimdefault
$3,300 new × 100% good × 1.61 allocation
$5,400
Mirrorsdefault
$300 new × 100% good × 1.61 allocation
$500
Shelvingdefault
$1,200 new × 100% good × 1.61 allocation
$1,900
Window coverings (19)default
$4,800 new × 100% good × 1.61 allocation
$7,700
Kitchen & laundry equipment plumbingdefault
$7,800 new × 100% good × 1.61 allocation
$12,500
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 100% good × 1.61 allocation
$7,500
Appliances (microwave, dishwasher, refrigerator)listing
$3,900 new × 100% good × 1.61 allocation
$6,300
Furniture bought newlisting
$19,500 new × 100% good · bought separately
$19,500

15-year land improvements$27,600

Paving: driveway & walks (paved)default
$9,000 new × 100% good × 1.61 allocation
$14,600
Landscaping (minimal)listing
$4,300 new × 100% good × 1.61 allocation
$7,000
Patiosdefault
$1,900 new × 100% good × 1.61 allocation
$3,000
Decks & porches (attached)default
$1,900 new × 100% good × 1.61 allocation
$3,000

Building, 39-year$478,600

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$206,100 new × 100% good × 1.61 allocation
$332,000
Building plumbing & fixturesdefault
$21,400 new × 100% good × 1.61 allocation
$34,400
Building electrical & lightingdefault
$21,400 new × 100% good × 1.61 allocation
$34,400
HVACdefault
$21,400 new × 100% good × 1.61 allocation
$34,500
Hardwood & tile floorsdefault
$12,200 new × 100% good × 1.61 allocation
$19,700
Fireplacelisting
$2,600 new × 100% good × 1.61 allocation
$4,200
Septic systemlisting
$12,000 new × 100% good × 1.61 allocation
$19,300

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$90,400	$27,600	$1,500	$119,600
2	$0	$0	$12,300	$12,300
3	$0	$0	$12,300	$12,300
4	$0	$0	$12,300	$12,300
5	$0	$0	$12,300	$12,300
6+	$0	$0	$428,000	$428,000
Total	$90,400	$27,600	$478,600	$596,600

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.