39 Lena Ct
Morganton, GA 30560
$799,900
3 bd · 3.5 ba · 2,272 sqft · Listed today
View on Realtor.com →Year built
2026
Sqft
2,272
Lot sqft
27,878
HOA / mo
None
Furnished
Yes
List date
2026-10-07T00:57:38.000000Z
Revenue
Annual revenue
$32,333
ADR
$286
Occupancy
31%
Cleaning fees (12 mo)
$7,318
Confidence
Low (40.36), 13 comps
Comp revenue range (p25 / median / p75)
Median revenue of shown comps: $26,665
Sunsets & panoramic views of Lake Blue Ridge!
Cabin · 3 bd · 3 ba · sleeps 8 · 0.6 mi
Revenue $4,170ADR $283Occ ≈ 4%—
Delisted
Finally Made It - Panoramic Blue Ridge Mountain Cabin - Morganton, GA
Cabin · 3 bd · 3.5 ba · sleeps 6 · 0.6 mi
Revenue $4,553ADR $342Occ ≈ 4%—
| 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 | $23,461 | $390 | 16% | 5★ (45) | 190 ft | AirbnbBooking |
3 Fireplaces, Mtn Views & Dog Friendly House
| 3 bd · 3.5 ba · sleeps 7 | $26,665 | $352 | 21% | 4.9★ (68) | 302 ft | AirbnbVrboBooking |
Cozy Bear Lodge Log Cabin Blue Ridge Mtns Cabin
| 3 bd · 3 ba · sleeps 10 | $47,172 | $308 | 42% | 5★ (85) | 361 ft | AirbnbVrboBooking |
Luna Landing-Pet Friendly, Mtn Views, Hot Tub Cabin
| 3 bd · 3 ba · sleeps 6 | $26,492 | $218 | 33% | 4.8★ (22) | 427 ft | AirbnbVrboBooking |
Mountain Cabin w/ Hot Tub in Morganton, GA Cabin
| 3 bd · 3 ba · sleeps 7 | $9,145 | $346 | 7% | 5★ (1) | 0.2 mi | AirbnbVrbo |
Mountain Hideaway | Hot Tub | Gameroom Cabin
| 3 bd · 3 ba · sleeps 6 | $35,203 | $203 | 48% | 5★ (108) | 0.4 mi | AirbnbVrbo |
Sunsets & panoramic views of Lake Blue Ridge! Cabin | 3 bd · 3 ba · sleeps 8 | $4,170 | $283 | 4% | — | 0.6 mi | Delisted |
Mountain Views | Hot Tub | Sauna | Pool Table House | 3 bd · 3.5 ba · sleeps 6 | $30,448 | $256 | 33% | 5★ (14) | 0.6 mi | AirbnbVrboBooking |
Finally Made It - Panoramic Blue Ridge Mountain Cabin - Morganton, GA Cabin | 3 bd · 3.5 ba · sleeps 6 | $4,553 | $342 | 4% | — | 0.6 mi | Vrbo |
MTN Views~Hot Tub~Fire Pit~Pool Table~Games House
| 3 bd · 3 ba · sleeps 8 | $42,093 | $296 | 39% | 5★ (21) | 0.6 mi | AirbnbVrboBooking |
Show 3 more
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
 Painted Sky Cabin: Stunning Mtn Views, Dogs ok Cabin
| 3 bd · 3 ba · sleeps 8 | $7,905 | $260 | 8% | — | 0.6 mi | AirbnbVrbo |
 Panoramic Ridge | Morganton, GA Cabin
| 3 bd · 2.5 ba · sleeps 6 | $27,856 | $296 | 26% | — | 0.6 mi | AirbnbVrbo |
 A Golden Retreat | Morganton, GA Cabin
| 3 bd · 3 ba · sleeps 6 | $46,117 | $376 | 34% | 5★ (36) | 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 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium
Est. revenue
$32,333
NOI
$4,482
Cash flow /mo
-$4,041
Cash needed
$231,971
Cash-on-cash
-20.9%
ROE (yr 1)
-8.4%
Cap rate
0.6%
DSCR
0.08
Year-1 write-off
$158,946
Year-1 tax shield @ 32%
$50,863
Year-1 return on equity
- Cash flow (annual)-$48,493
- Principal paydown$4,982
- Appreciation at%$23,997
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)$6,467
- Platform fees (3% of revenue)$970
- Maintenance / capex (5% of revenue)$1,617
- Utilities & supplies$4,200
- HOA$0
- Property tax$6,079
- Insurance (STR-rated)$8,519
Cash needed to close
- Down payment (25%)$199,975
- Closing costs (4.0%)$31,996
- Furnishing (conveyed with the sale)$0
Tax savings if the STR loophole applies
- Tax shield @ 32%$50,863
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
$681,000
Short-life (5/15-yr)
$158,000 · 23%
Year-1 deduction
$159,000
Year-1 tax shield @ 32%
$51,000
Land 15% (market default, no usable tax-record split) · building $523,000 over 39 years
Based on: 2,272 sq ft, built 2026, 3 bd / 3.5 ba, furnished, listing features (deck, game room, fireplace, stone counters, flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $82,000 in year 1 (12% short-life, $26,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $15,700
Kitchen cabinetsdefault
$10,800 new × 100% good × 1.46 allocation
- $16,100
Kitchen countertops (stone)listing
$11,000 new × 100% good × 1.46 allocation
- $5,800
Decorative trimdefault
$4,000 new × 100% good × 1.46 allocation
- $700
Mirrorsdefault
$500 new × 100% good × 1.46 allocation
- $1,800
Shelvingdefault
$1,200 new × 100% good × 1.46 allocation
- $8,400
Window coverings (23)default
$5,800 new × 100% good × 1.46 allocation
- $12,200
Kitchen & laundry equipment plumbingdefault
$8,400 new × 100% good × 1.46 allocation
- $7,400
Kitchen, laundry & data equipment electricaldefault
$5,100 new × 100% good × 1.46 allocation
- $11,200
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 100% good × 1.46 allocation
- $7,800
Furniture conveyed with the sale (used)listing
$19,500 new × 40% good · out of the price
- $2,400
Game-room equipment (used)listing
$6,000 new × 40% good · out of the price
- $14,400
Paving: driveway & walks (paved)default
$9,900 new × 100% good × 1.46 allocation
- $13,900
Landscaping (typical)default
$9,500 new × 100% good × 1.46 allocation
- $3,300
Patiosdefault
$2,200 new × 100% good × 1.46 allocation
- $37,300
Decks & porches (attached)listing
$25,600 new × 100% good × 1.46 allocation
- $359,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$246,600 new × 100% good × 1.46 allocation
- $37,300
Building plumbing & fixturesdefault
$25,600 new × 100% good × 1.46 allocation
- $38,100
Building electrical & lightingdefault
$26,100 new × 100% good × 1.46 allocation
- $37,400
HVACdefault
$25,600 new × 100% good × 1.46 allocation
- $21,300
Hardwood & tile floorsdefault
$14,600 new × 100% good × 1.46 allocation
- $11,500
Fireplaces (3)listing
$7,900 new × 100% good × 1.46 allocation
- $17,500
Septic systemlisting
$12,000 new × 100% good × 1.46 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $89,500 | $68,900 | $600 | $158,900 |
| 2 | $0 | $0 | $13,400 | $13,400 |
| 3 | $0 | $0 | $13,400 | $13,400 |
| 4 | $0 | $0 | $13,400 | $13,400 |
| 5 | $0 | $0 | $13,400 | $13,400 |
| 6+ | $0 | $0 | $468,900 | $468,900 |
| Total | $89,500 | $68,900 | $523,100 | $681,400 |
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.