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1008 Ridge Dr

1008 Ridge Dr

Morganton, GA 30560

$650,000

3 bd · 2 ba · 1,585 sqft · Listed 17d ago

View on Realtor.com →
Rental historyLow confidenceEst. land %Negative cash flow

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)

$6,486$8,114$11,941

  • Calm Retreat

    Vacation home · 3 bd · 2 ba · sleeps 6 · 0 ft

    Revenue $6,394ADR $278Occ ≈ 6%—

    Booking

  • Calm Retreat -Pet Friendly, Hot Tub, Firepit

    Cabin · 3 bd · 2 ba · sleeps 6 · 390 ft

    Revenue $13,899ADR $370Occ ≈ 10%5★ (2)

    AirbnbVrbo

  • Spur n Arrow Cabin Stay

    Cabin · 3 bd · 2.5 ba · sleeps 7 · 0.6 mi

    Revenue $19,183ADR $269Occ ≈ 20%5★ (3)

    AirbnbVrboBooking

  • 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)

    Booking

  • Spur and Arrow -Parade of Homes!, hot tub, firepit

    Cabin · 3 bd · 2.5 ba · sleeps 7 · 0.7 mi

    Revenue $464ADR $232Occ ≈ 1%—

    AirbnbVrbo

  • Rustic Meadows at Ladybug Lake

    House · 3 bd · 2 ba · sleeps 6 · 0.7 mi

    Revenue $8,114ADR $316Occ ≈ 7%4★ (1)

    AirbnbVrbo

  • Smokey mountain serenity!

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.7 mi

    Revenue $9,983ADR $306Occ ≈ 9%4.3★ (7)

    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

Est. revenue

$9,642

NOI

-$4,410

Cash flow /mo

-$368

Cash needed

$676,000

Cash-on-cash (all cash)

-0.7%

ROE (yr 1)

2.2%

Cap rate

-0.7%

DSCR

—

Year-1 write-off

$142,705

Year-1 tax shield @ 32%

$45,666

Year-1 return on equity

  • Cash flow (annual)-$4,410
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$19,500
ROE2.2%
ROE incl. year-1 tax savings (32% bracket, STR loophole)9.0%
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

  • Purchase price (all cash)$650,000
  • 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.

5-year property$109,200

  • Kitchen cabinetsdefault

    $9,300 new × 96% good × 1.74 allocation

    $15,500

  • Kitchen countertops (stone)listing

    $9,500 new × 96% good × 1.74 allocation

    $15,800

  • Decorative trimdefault

    $2,800 new × 96% good × 1.74 allocation

    $4,600

  • Mirrorsdefault

    $300 new × 92% good × 1.74 allocation

    $500

  • Shelvingdefault

    $1,200 new × 96% good × 1.74 allocation

    $2,000

  • Window coverings (16)default

    $4,000 new × 90% good × 1.74 allocation

    $6,200

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

    $6,800 new × 92% good × 1.74 allocation

    $10,800

  • Kitchen & laundry equipment plumbingdefault

    $7,200 new × 98% good × 1.74 allocation

    $12,300

  • Kitchen, laundry & data equipment electricaldefault

    $4,400 new × 98% good × 1.74 allocation

    $7,400

  • Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing

    $7,700 new × 92% good × 1.74 allocation

    $12,200

  • Hot tub (freestanding)listing

    $9,000 new × 90% good × 1.74 allocation

    $14,100

  • Furniture conveyed with the sale (used)listing

    $19,500 new × 40% good · out of the price

    $7,800
15-year land improvements$32,200

  • Paving: driveway & walks (paved)default

    $8,300 new × 96% good × 1.74 allocation

    $13,800

  • Landscaping (typical)default

    $7,900 new × 96% good × 1.74 allocation

    $13,200

  • Patiosdefault

    $1,600 new × 96% good × 1.74 allocation

    $2,600

  • Decks & porches (attached)default

    $1,600 new × 95% good × 1.74 allocation

    $2,600
Building, 39-year$412,300

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

    $171,700 new × 98% good × 1.74 allocation

    $293,000

  • Building plumbing & fixturesdefault

    $17,800 new × 98% good × 1.74 allocation

    $30,300

  • Building electrical & lightingdefault

    $17,400 new × 98% good × 1.74 allocation

    $29,500

  • HVACdefault

    $17,900 new × 95% good × 1.74 allocation

    $29,400

  • Hardwood & tile floorsdefault

    $3,400 new × 96% good × 1.74 allocation

    $5,700

  • Fireplacelisting

    $2,600 new × 96% good × 1.74 allocation

    $4,400

  • Septic systemlisting

    $12,000 new × 96% good × 1.74 allocation

    $20,000

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.