232 Red Tail Ln
Morganton, GA 30560
$589,600
2 bd · 2 ba · Listed 17d ago
View on Realtor.com →Year built
2025
Sqft
—
Lot sqft
97,574
HOA / mo
None
Furnished
No
List date
2026-09-10T15:34:47.000000Z
Revenue
Annual revenue
$59,478
ADR
$356
Occupancy
46%
Cleaning fees (12 mo)
$8,696
Confidence
Low (42.38), 9 comps
Comp revenue range (p25 / median / p75)
STUNNING mountain views facing sunset, hot tub, 3 king bedrooms + attached baths
Cabin · 3 bd · 3 ba · sleeps 8 · 0.4 mi
Revenue $47,394ADR $334Occ ≈ 39%5★ (155)
Majestic View - Mineral Bluff, GA - Take in Sweeping Mountain Views, Soak in the Hot Tub, Challenge Friends in the Arcade, and R
Vacation home · 3 bd · 3 ba · sleeps 9 · 0.4 mi
Revenue $90,993ADR $365Occ ≈ 68%—
Boundless Views
Vacation home · 3 bd · 3 ba · sleeps 8 · 0.6 mi
Revenue $88,863ADR $423Occ ≈ 58%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
STUNNING mountain views facing sunset, hot tub, 3 king bedrooms + attached baths Cabin | 3 bd · 3 ba · sleeps 8 | $47,394 | $334 | 39% | 5★ (155) | 0.4 mi | Vrbo |
Sunset Mountain Lodge House | 3 bd · 3 ba · sleeps 8 | $15,355 | $313 | 13% | 5★ (160) | 0.4 mi | AirbnbVrbo |
Majestic View - Mineral Bluff, GA - Take in Sweeping Mountain Views, Soak in the Hot Tub, Challenge Friends in the Arcade, and R Vacation home | 3 bd · 3 ba · sleeps 9 | $90,993 | $365 | 68% | — | 0.4 mi | Booking |
Majestic View- Mineral Bluff GA Cabin | 3 bd · 3 ba · sleeps 9 | $58,587 | $302 | 53% | 4.5★ (9) | 0.5 mi | AirbnbVrbo |
Boundless Views Vacation home | 3 bd · 3 ba · sleeps 8 | $88,863 | $423 | 58% | — | 0.6 mi | Booking |
Boundless Views- Pet Friendly, Hot Tub, Mtn Views! Cabin | 3 bd · 3 ba · sleeps 8 | $85,105 | $468 | 50% | 4.8★ (5) | 0.7 mi | AirbnbVrbo |
Cloudscape House | 3 bd · 3 ba · sleeps 8 | $12,924 | $356 | 10% | 5★ (11) | 0.7 mi | Airbnb |
Stone Pine Lodge- Outdoor Fireplace, HotTub, View! Cabin | 3 bd · 3 ba · sleeps 11 | $62,477 | $426 | 40% | 5★ (10) | 0.7 mi | AirbnbVrboBooking |
Relax and Renew Cabin | 3 bd · 2 ba · sleeps 6 | $24,361 | $343 | 19% | 5★ (12) | 0.7 mi | AirbnbVrbo |
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
$59,478
NOI
$27,982
Cash flow /mo
-$845
Cash needed
$186,984
Cash-on-cash
-5.4%
ROE (yr 1)
6.1%
Cap rate
4.7%
DSCR
0.73
Year-1 write-off
$116,293
Year-1 tax shield @ 32%
$37,214
Year-1 return on equity
- Cash flow (annual)-$10,144
- Principal paydown$3,858
- Appreciation at%$17,688
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,896
- Platform fees (3% of revenue)$1,784
- Maintenance / capex (5% of revenue)$2,974
- Utilities & supplies$4,200
- HOA$0
- Property tax$4,363
- Insurance (STR-rated)$6,279
Cash needed to close
- Down payment (25%)$147,400
- Closing costs (4.0%)$23,584
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$37,214
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
$501,000
Short-life (5/15-yr)
$99,000 · 20%
Year-1 deduction
$116,000
Year-1 tax shield @ 32%
$37,000
Land 15% (market default, no usable tax-record split) · building $402,000 over 39 years · new furniture $16,000
Based on: ~1,400 sq ft (from beds), built 2025, 2 bd / 2 ba, unfurnished, listing features (fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $79,000 in year 1 (12% short-life, $25,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $15,800
Kitchen cabinetsdefault
$8,900 new × 96% good × 1.85 allocation
- $12,900
Kitchen countertopsdefault
$7,300 new × 96% good × 1.85 allocation
- $4,400
Decorative trimdefault
$2,500 new × 96% good × 1.85 allocation
- $500
Mirrorsdefault
$300 new × 92% good × 1.85 allocation
- $1,600
Shelvingdefault
$900 new × 96% good × 1.85 allocation
- $5,800
Window coverings (14)default
$3,500 new × 90% good × 1.85 allocation
- $12,500
Kitchen & laundry equipment plumbingdefault
$6,900 new × 98% good × 1.85 allocation
- $7,600
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 98% good × 1.85 allocation
- $5,900
Appliances (range, microwave, dishwasher)listing
$3,500 new × 92% good × 1.85 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $13,800
Paving: driveway & walks (paved)default
$7,800 new × 96% good × 1.85 allocation
- $13,300
Landscaping (typical)default
$7,500 new × 96% good × 1.85 allocation
- $2,500
Patiosdefault
$1,400 new × 96% good × 1.85 allocation
- $2,400
Decks & porches (attached)default
$1,400 new × 95% good × 1.85 allocation
- $276,500
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$151,800 new × 98% good × 1.85 allocation
- $28,500
Building plumbing & fixturesdefault
$15,700 new × 98% good × 1.85 allocation
- $27,300
Building electrical & lightingdefault
$15,000 new × 98% good × 1.85 allocation
- $27,800
HVACdefault
$15,800 new × 95% good × 1.85 allocation
- $16,000
Hardwood & tile floorsdefault
$9,000 new × 96% good × 1.85 allocation
- $4,700
Fireplacelisting
$2,600 new × 96% good × 1.85 allocation
- $21,300
Septic systemlisting
$12,000 new × 96% good × 1.85 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $83,000 | $32,000 | $1,300 | $116,300 |
| 2 | $0 | $0 | $10,300 | $10,300 |
| 3 | $0 | $0 | $10,300 | $10,300 |
| 4 | $0 | $0 | $10,300 | $10,300 |
| 5 | $0 | $0 | $10,300 | $10,300 |
| 6+ | $0 | $0 | $359,600 | $359,600 |
| Total | $83,000 | $32,000 | $402,200 | $517,200 |
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.