310 Wunder Bear Ridge Rd
Morganton, GA 30560
$950,000
4 bd · 4 ba · 2,488 sqft · Listed 23d ago
View on Realtor.com →Year built
2022
Sqft
2,488
Lot sqft
38,768
HOA / mo
$0
Furnished
No
List date
2026-09-04T16:10:23.000000Z
Revenue
Annual revenue
$35,434
ADR
$373
Occupancy
26%
Cleaning fees (12 mo)
$5,982
Confidence
Low (43.66), 9 comps
Comp revenue range (p25 / median / p75)
Wunder Bear Cabin
Vacation home · 4 bd · 4 ba · sleeps 8 · 0 ft
Revenue $31,887ADR $455Occ ≈ 19%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Wunder Bear Cabin Vacation home | 4 bd · 4 ba · sleeps 8 | $31,887 | $455 | 19% | — | 0 ft | Booking |
Blue Ridge Mountain Rustic Cabin Cabin | 4 bd · 4 ba · sleeps 8 | $5,532 | $614 | 2% | 5★ (12) | 236 ft | AirbnbVrbo |
Wunder Bear Cabin -Dogs, Hot Tub, Views! House | 4 bd · 4 ba · sleeps 8 | $29,603 | $529 | 15% | 3★ (1) | 381 ft | AirbnbVrbo |
CaBEARnet Creek - Great Deal! Creek, Hot Tub, Pets Cabin | 4 bd · 3 ba · sleeps 8 | $55,015 | $279 | 54% | 4.9★ (71) | 0.2 mi | AirbnbVrboBooking |
Getaway Cabin with Hot Tub & New Putting Green! Cabin | 4 bd · 3 ba · sleeps 12 | $58,374 | $383 | 42% | 5★ (89) | 0.2 mi | AirbnbVrbo |
Hidden Waters | Blue Ridge Cabin | Arcade | HotTub Cabin | 4 bd · 3.5 ba · sleeps 8 | $74,252 | $447 | 46% | 5★ (46) | 0.2 mi | AirbnbVrbo |
The Horny Buck Cabin Cabin | 4 bd · 3.5 ba · sleeps 11 | $39,723 | $232 | 47% | 5★ (61) | 0.2 mi | AirbnbVrbo |
Hillside Hideaway-Hot Tub, Game Rm, Outdoor Firepl Cabin | 4 bd · 3.5 ba · sleeps 10 | $24,819 | $548 | 12% | 5★ (1) | 0.7 mi | AirbnbVrbo |
4BR all-new with creek, decks, & firepit Cabin | 4 bd · 3.5 ba · sleeps 10 | $21,328 | $408 | 14% | 4.9★ (25) | 0.7 mi | AirbnbVrboBooking |
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
$35,434
NOI
$8,368
Cash flow /mo
-$4,422
Cash needed
$304,500
Cash-on-cash
-17.4%
ROE (yr 1)
-6.0%
Cap rate
0.9%
DSCR
0.14
Year-1 write-off
$195,518
Year-1 tax shield @ 32%
$62,566
Year-1 return on equity
- Cash flow (annual)-$53,063
- Principal paydown$6,217
- Appreciation at%$28,500
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$7,087
- Platform fees (3% of revenue)$1,063
- Maintenance / capex (5% of revenue)$1,772
- Utilities & supplies$4,200
- HOA$0
- Property tax$2,827
- Insurance (STR-rated)$10,118
Cash needed to close
- Down payment (25%)$237,500
- Closing costs (4.0%)$38,000
- Furnishing (bought new)$29,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$62,566
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
$808,000
Short-life (5/15-yr)
$164,000 · 20%
Year-1 deduction
$196,000
Year-1 tax shield @ 32%
$63,000
Land 15% (market default, no usable tax-record split) · building $643,000 over 39 years · new furniture $29,000
Based on: 2,488 sq ft, built 2022, 4 bd / 4 ba, unfurnished, listing features (hot tub, deck, game room, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $115,000 in year 1 (10% short-life, $37,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $17,000
Kitchen cabinetsdefault
$11,300 new × 84% good × 1.80 allocation
- $13,900
Kitchen countertopsdefault
$9,200 new × 84% good × 1.80 allocation
- $6,600
Decorative trimdefault
$4,400 new × 84% good × 1.80 allocation
- $700
Mirrorsdefault
$600 new × 67% good × 1.80 allocation
- $2,300
Shelvingdefault
$1,500 new × 84% good × 1.80 allocation
- $6,800
Window coverings (25)default
$6,300 new × 60% good × 1.80 allocation
- $14,500
Kitchen & laundry equipment plumbingdefault
$8,800 new × 92% good × 1.80 allocation
- $8,800
Kitchen, laundry & data equipment electricaldefault
$5,300 new × 92% good × 1.80 allocation
- $9,300
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 67% good × 1.80 allocation
- $9,700
Hot tub (freestanding)listing
$9,000 new × 60% good × 1.80 allocation
- $23,000
Furniture bought newlisting
$23,000 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $15,700
Paving: driveway & walks (paved)default
$10,300 new × 84% good × 1.80 allocation
- $15,100
Landscaping (typical)default
$9,900 new × 84% good × 1.80 allocation
- $3,700
Patiosdefault
$2,500 new × 84% good × 1.80 allocation
- $40,400
Decks & porches (attached)listing
$28,000 new × 80% good × 1.80 allocation
- $453,900
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$269,800 new × 93% good × 1.80 allocation
- $46,500
Building plumbing & fixturesdefault
$28,000 new × 92% good × 1.80 allocation
- $47,800
Building electrical & lightingdefault
$28,800 new × 92% good × 1.80 allocation
- $40,400
HVACdefault
$28,000 new × 80% good × 1.80 allocation
- $24,200
Hardwood & tile floorsdefault
$16,000 new × 84% good × 1.80 allocation
- $12,000
Fireplaces (3)listing
$7,900 new × 84% good × 1.80 allocation
- $18,200
Septic systemlisting
$12,000 new × 84% good × 1.80 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $118,600 | $74,800 | $2,100 | $195,500 |
| 2 | $0 | $0 | $16,500 | $16,500 |
| 3 | $0 | $0 | $16,500 | $16,500 |
| 4 | $0 | $0 | $16,500 | $16,500 |
| 5 | $0 | $0 | $16,500 | $16,500 |
| 6+ | $0 | $0 | $575,000 | $575,000 |
| Total | $118,600 | $74,800 | $643,000 | $836,500 |
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.