1008 Ridge Dr
Morganton, GA 30560
$650,000
3 bd · 2 ba · 1,585 sqft · Listed 17d ago
View on Realtor.com →Year built
2025
Sqft
1,585
Lot sqft
32,670
HOA / mo
None
Furnished
Yes
List date
2026-09-10T23:30:43.000000Z
Revenue
Annual revenue
$9,642
ADR
$279
Occupancy
9%
Cleaning fees (12 mo)
$2,032
Confidence
Low (35.21), 7 comps
Comp revenue range (p25 / median / p75)
NEW LISTING !!! RUSTIC MEADOW AT LADYBUG LAKE
Guest house · 3 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $6,578ADR $328Occ ≈ 5%4.5★ (1)
Smokey mountain serenity!
Cabin · 3 bd · 3 ba · sleeps 8 · 0.7 mi
Revenue $9,983ADR $306Occ ≈ 9%4.3★ (7)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Calm Retreat Vacation home | 3 bd · 2 ba · sleeps 6 | $6,394 | $278 | 6% | — | 0 ft | Booking |
Calm Retreat -Pet Friendly, Hot Tub, Firepit Cabin | 3 bd · 2 ba · sleeps 6 | $13,899 | $370 | 10% | 5★ (2) | 390 ft | AirbnbVrbo |
Spur n Arrow Cabin Stay Cabin | 3 bd · 2.5 ba · sleeps 7 | $19,183 | $269 | 20% | 5★ (3) | 0.6 mi | AirbnbVrboBooking |
NEW LISTING !!! RUSTIC MEADOW AT LADYBUG LAKE Guest house | 3 bd · 2 ba · sleeps 6 | $6,578 | $328 | 5% | 4.5★ (1) | 0.7 mi | Booking |
Spur and Arrow -Parade of Homes!, hot tub, firepit Cabin | 3 bd · 2.5 ba · sleeps 7 | $464 | $232 | 1% | — | 0.7 mi | AirbnbVrbo |
Rustic Meadows at Ladybug Lake House | 3 bd · 2 ba · sleeps 6 | $8,114 | $316 | 7% | 4★ (1) | 0.7 mi | AirbnbVrbo |
Smokey mountain serenity! Cabin | 3 bd · 3 ba · sleeps 8 | $9,983 | $306 | 9% | 4.3★ (7) | 0.7 mi | 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
Rate 7.78% = 7.03% Freddie Mac 30-yr avg (Sep 24) + 0.75% investor premium
Est. revenue
$9,642
NOI
-$4,410
Cash flow /mo
-$3,870
Cash needed
$188,500
Cash-on-cash
-24.6%
ROE (yr 1)
-12.0%
Cap rate
-0.7%
DSCR
-0.10
Year-1 write-off
$142,705
Year-1 tax shield @ 32%
$45,666
Year-1 return on equity
- Cash flow (annual)-$46,442
- Principal paydown$4,254
- Appreciation at%$19,500
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$1,928
- Platform fees (3% of revenue)$289
- Maintenance / capex (5% of revenue)$482
- Utilities & supplies$4,200
- HOA$0
- Property tax$230
- Insurance (STR-rated)$6,923
Cash needed to close
- Down payment (25%)$162,500
- Closing costs (4.0%)$26,000
- Furnishing (conveyed with the sale)$0
Tax savings if the STR loophole applies
- Tax shield @ 32%$45,666
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
$554,000
Short-life (5/15-yr)
$141,000 · 26%
Year-1 deduction
$143,000
Year-1 tax shield @ 32%
$46,000
Land 15% (market default, no usable tax-record split) · building $412,000 over 39 years
Based on: 1,585 sq ft, built 2025, 3 bd / 2 ba, furnished, listing features (hot tub, fireplace, stone counters, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $102,000 in year 1 (18% short-life, $33,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $15,500
Kitchen cabinetsdefault
$9,300 new × 96% good × 1.74 allocation
- $15,800
Kitchen countertops (stone)listing
$9,500 new × 96% good × 1.74 allocation
- $4,600
Decorative trimdefault
$2,800 new × 96% good × 1.74 allocation
- $500
Mirrorsdefault
$300 new × 92% good × 1.74 allocation
- $2,000
Shelvingdefault
$1,200 new × 96% good × 1.74 allocation
- $6,200
Window coverings (16)default
$4,000 new × 90% good × 1.74 allocation
- $10,800
Carpet, vinyl & laminate (67% of floors)listing
$6,800 new × 92% good × 1.74 allocation
- $12,300
Kitchen & laundry equipment plumbingdefault
$7,200 new × 98% good × 1.74 allocation
- $7,400
Kitchen, laundry & data equipment electricaldefault
$4,400 new × 98% good × 1.74 allocation
- $12,200
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 92% good × 1.74 allocation
- $14,100
Hot tub (freestanding)listing
$9,000 new × 90% good × 1.74 allocation
- $7,800
Furniture conveyed with the sale (used)listing
$19,500 new × 40% good · out of the price
- $13,800
Paving: driveway & walks (paved)default
$8,300 new × 96% good × 1.74 allocation
- $13,200
Landscaping (typical)default
$7,900 new × 96% good × 1.74 allocation
- $2,600
Patiosdefault
$1,600 new × 96% good × 1.74 allocation
- $2,600
Decks & porches (attached)default
$1,600 new × 95% good × 1.74 allocation
- $293,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$171,700 new × 98% good × 1.74 allocation
- $30,300
Building plumbing & fixturesdefault
$17,800 new × 98% good × 1.74 allocation
- $29,500
Building electrical & lightingdefault
$17,400 new × 98% good × 1.74 allocation
- $29,400
HVACdefault
$17,900 new × 95% good × 1.74 allocation
- $5,700
Hardwood & tile floorsdefault
$3,400 new × 96% good × 1.74 allocation
- $4,400
Fireplacelisting
$2,600 new × 96% good × 1.74 allocation
- $20,000
Septic systemlisting
$12,000 new × 96% good × 1.74 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $109,200 | $32,200 | $1,300 | $142,700 |
| 2 | $0 | $0 | $10,600 | $10,600 |
| 3 | $0 | $0 | $10,600 | $10,600 |
| 4 | $0 | $0 | $10,600 | $10,600 |
| 5 | $0 | $0 | $10,600 | $10,600 |
| 6+ | $0 | $0 | $368,700 | $368,700 |
| Total | $109,200 | $32,200 | $412,300 | $553,700 |
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.