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04 Greenfield Rd

04 Greenfield Rd

Morganton, GA 30560

$444,044

3 bd · 2 ba · 1,653 sqft · Listed 1d ago

View on Realtor.com →
Low confidenceEst. land %

Year built

2026

Sqft

1,653

Lot sqft

34,412

HOA / mo

$73

Furnished

No

List date

2026-10-26T18:33:30.000000Z

Revenue

Annual revenue

$18,766

ADR

$150

Occupancy

34%

Cleaning fees (12 mo)

$3,446

Confidence

Low (42.1), 5 comps

Comp revenue range (p25 / median / p75)

$12,127$20,317$22,358

Few similar-size comps were found, so all comps are shown.

Median revenue of shown comps: $20,317

  • The perfect mountain trip

    House · 3 bd · 3 ba · sleeps 6 · 0.3 mi

    Revenue $12,127ADR $200Occ ≈ 17%5★ (179)

    Delisted

  • Waterfront Cabin in Blue Ridge Mountain w/ Hot tub

    Cabin · 3 bd · 2 ba · sleeps 5 · 0.4 mi

    • Hot tub
    • A/C
    • Free parking
    • Wifi
    • +2

    Revenue $32,644ADR $241Occ ≈ 37%5★ (50)

    Airbnb

  • Cozy Blue Ridge Tiny Home-Views, Patio & Fire Pit

    Tiny house · 3 bd · 1 ba · sleeps 6 · 0.7 mi

    • Pool
    • Free parking
    • Wifi
    • Kitchen
    • +2

    Revenue $20,317ADR $186Occ ≈ 30%5★ (66)

    AirbnbVrboBooking

  • Blue Ridge Tiny Home | Gated Community Near Lake

    Tiny house · 3 bd · 1 ba · sleeps 6 · 0.7 mi

    Revenue $22,358ADR $142Occ ≈ 43%4.5★ (21)

    Airbnb

  • Comfy tiny home in rv resort

    Tiny house · 3 bd · 1 ba · sleeps 6 · 0.8 mi

    • Hot tub
    • Pool
    • A/C
    • Free parking
    • +3

    Revenue $4,534ADR $194Occ ≈ 6%5★ (4)

    Airbnb

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
Management

Est. revenue

$18,766

NOI

$332

Cash flow /mo

$28

Cash needed

$481,306

Cash-on-cash (all cash)

0.1%

ROE (yr 1)

2.8%

Cap rate

0.1%

DSCR

—

Year-1 write-off

$110,850

Year-1 tax shield @ 32%

$35,472

Year-1 return on equity

  • Cash flow (annual)$332
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$13,321
ROE2.8%

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)$3,753
  • Platform fees (3% of revenue)$563
  • Maintenance / capex (5% of revenue)$938
  • Utilities & supplies$4,200
  • HOA$876
  • Property tax$3,375
  • Insurance (STR-rated)$4,729

Cash needed to close

  • Purchase price (all cash)$444,044
  • Closing costs (4.0%)$17,762
  • Furnishing (bought new)$19,500

Tax savings if the STR loophole applies

  • Tax shield @ 32%$35,472

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

$377,000

Short-life (5/15-yr)

$91,000 · 24%

Year-1 deduction

$111,000

Year-1 tax shield @ 32%

$35,000

Land 15% (market default, no usable tax-record split) · building $286,000 over 39 years · new furniture $20,000

Based on: 1,653 sq ft, built 2026, 3 bd / 2 ba, unfurnished, listing features (covered patio, fireplace, flooring types, appliance list, septic).

Try the cost segregation calculator on any property →

IRS-guide safe-harbor floor: $85,000 in year 1 (17% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$74,500

  • Kitchen cabinetsdefault

    $9,400 new × 100% good × 1.13 allocation

    $10,700

  • Kitchen countertopsdefault

    $7,700 new × 100% good × 1.13 allocation

    $8,700

  • Decorative trimdefault

    $2,900 new × 100% good × 1.13 allocation

    $3,300

  • Mirrorsdefault

    $300 new × 100% good × 1.13 allocation

    $300

  • Shelvingdefault

    $1,200 new × 100% good × 1.13 allocation

    $1,400

  • Window coverings (17)default

    $4,300 new × 100% good × 1.13 allocation

    $4,800

  • Carpet, vinyl & laminate (67% of floors)listing

    $7,100 new × 100% good × 1.13 allocation

    $8,000

  • Kitchen & laundry equipment plumbingdefault

    $7,300 new × 100% good × 1.13 allocation

    $8,300

  • Kitchen, laundry & data equipment electricaldefault

    $4,400 new × 100% good × 1.13 allocation

    $5,000

  • Appliances (range, microwave, dishwasher, disposal)listing

    $3,900 new × 100% good × 1.13 allocation

    $4,400

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500
15-year land improvements$36,000

  • Paving: driveway & walks (paved)default

    $8,400 new × 100% good × 1.13 allocation

    $9,600

  • Landscaping (typical)default

    $8,100 new × 100% good × 1.13 allocation

    $9,200

  • Covered patiolisting

    $13,600 new × 100% good × 1.13 allocation

    $15,500

  • Decks & porches (attached)default

    $1,600 new × 100% good × 1.13 allocation

    $1,800
Building, 39-year$286,400

  • Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault

    $179,100 new × 100% good × 1.13 allocation

    $203,000

  • Building plumbing & fixturesdefault

    $18,600 new × 100% good × 1.13 allocation

    $21,100

  • Building electrical & lightingdefault

    $18,200 new × 100% good × 1.13 allocation

    $20,700

  • HVACdefault

    $18,600 new × 100% good × 1.13 allocation

    $21,100

  • Hardwood & tile floorsdefault

    $3,500 new × 100% good × 1.13 allocation

    $4,000

  • Fireplacelisting

    $2,600 new × 100% good × 1.13 allocation

    $3,000

  • Septic systemlisting

    $12,000 new × 100% good × 1.13 allocation

    $13,600

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
1$74,500$36,000$300$110,800
2$0$0$7,300$7,300
3$0$0$7,300$7,300
4$0$0$7,300$7,300
5$0$0$7,300$7,300
6+$0$0$256,700$256,700
Total$74,500$36,000$286,400$396,900

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.