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310 Wunder Bear Ridge Rd

310 Wunder Bear Ridge Rd

Morganton, GA 30560

$950,000

4 bd · 4 ba · 2,488 sqft · Listed 23d ago

View on Realtor.com →
Est. land %

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)

$24,819$31,887$55,015

  • Wunder Bear Cabin

    Vacation home · 4 bd · 4 ba · sleeps 8 · 0 ft

    Revenue $31,887ADR $455Occ ≈ 19%—

    Booking

  • Blue Ridge Mountain Rustic Cabin

    Cabin · 4 bd · 4 ba · sleeps 8 · 236 ft

    Revenue $5,532ADR $614Occ ≈ 2%5★ (12)

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  • Wunder Bear Cabin -Dogs, Hot Tub, Views!

    House · 4 bd · 4 ba · sleeps 8 · 381 ft

    Revenue $29,603ADR $529Occ ≈ 15%3★ (1)

    AirbnbVrbo

  • CaBEARnet Creek - Great Deal! Creek, Hot Tub, Pets

    Cabin · 4 bd · 3 ba · sleeps 8 · 0.2 mi

    Revenue $55,015ADR $279Occ ≈ 54%4.9★ (71)

    AirbnbVrboBooking

  • Getaway Cabin with Hot Tub & New Putting Green!

    Cabin · 4 bd · 3 ba · sleeps 12 · 0.2 mi

    Revenue $58,374ADR $383Occ ≈ 42%5★ (89)

    AirbnbVrbo

  • Hidden Waters | Blue Ridge Cabin | Arcade | HotTub

    Cabin · 4 bd · 3.5 ba · sleeps 8 · 0.2 mi

    Revenue $74,252ADR $447Occ ≈ 46%5★ (46)

    AirbnbVrbo

  • The Horny Buck Cabin

    Cabin · 4 bd · 3.5 ba · sleeps 11 · 0.2 mi

    Revenue $39,723ADR $232Occ ≈ 47%5★ (61)

    AirbnbVrbo

  • Hillside Hideaway-Hot Tub, Game Rm, Outdoor Firepl

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.7 mi

    Revenue $24,819ADR $548Occ ≈ 12%5★ (1)

    AirbnbVrbo

  • 4BR all-new with creek, decks, & firepit

    Cabin · 4 bd · 3.5 ba · sleeps 10 · 0.7 mi

    Revenue $21,328ADR $408Occ ≈ 14%4.9★ (25)

    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

Financing

Est. revenue

$35,434

NOI

$8,368

Cash flow /mo

$697

Cash needed

$1,017,000

Cash-on-cash (all cash)

0.8%

ROE (yr 1)

3.6%

Cap rate

0.9%

DSCR

—

Year-1 write-off

$195,518

Year-1 tax shield @ 32%

$62,566

Year-1 return on equity

  • Cash flow (annual)$8,368
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$28,500
ROE3.6%
ROE incl. year-1 tax savings (32% bracket, STR loophole)9.8%
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

  • Purchase price (all cash)$950,000
  • 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.

5-year property$118,600

  • Kitchen cabinetsdefault

    $11,300 new × 84% good × 1.80 allocation

    $17,000

  • Kitchen countertopsdefault

    $9,200 new × 84% good × 1.80 allocation

    $13,900

  • Decorative trimdefault

    $4,400 new × 84% good × 1.80 allocation

    $6,600

  • Mirrorsdefault

    $600 new × 67% good × 1.80 allocation

    $700

  • Shelvingdefault

    $1,500 new × 84% good × 1.80 allocation

    $2,300

  • Window coverings (25)default

    $6,300 new × 60% good × 1.80 allocation

    $6,800

  • Kitchen & laundry equipment plumbingdefault

    $8,800 new × 92% good × 1.80 allocation

    $14,500

  • Kitchen, laundry & data equipment electricaldefault

    $5,300 new × 92% good × 1.80 allocation

    $8,800

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

    $7,700 new × 67% good × 1.80 allocation

    $9,300

  • Hot tub (freestanding)listing

    $9,000 new × 60% good × 1.80 allocation

    $9,700

  • Furniture bought newlisting

    $23,000 new × 100% good · bought separately

    $23,000

  • Game-room equipment bought newlisting

    $6,000 new × 100% good · bought separately

    $6,000
15-year land improvements$74,800

  • Paving: driveway & walks (paved)default

    $10,300 new × 84% good × 1.80 allocation

    $15,700

  • Landscaping (typical)default

    $9,900 new × 84% good × 1.80 allocation

    $15,100

  • Patiosdefault

    $2,500 new × 84% good × 1.80 allocation

    $3,700

  • Decks & porches (attached)listing

    $28,000 new × 80% good × 1.80 allocation

    $40,400
Building, 39-year$643,000

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

    $269,800 new × 93% good × 1.80 allocation

    $453,900

  • Building plumbing & fixturesdefault

    $28,000 new × 92% good × 1.80 allocation

    $46,500

  • Building electrical & lightingdefault

    $28,800 new × 92% good × 1.80 allocation

    $47,800

  • HVACdefault

    $28,000 new × 80% good × 1.80 allocation

    $40,400

  • Hardwood & tile floorsdefault

    $16,000 new × 84% good × 1.80 allocation

    $24,200

  • Fireplaces (3)listing

    $7,900 new × 84% good × 1.80 allocation

    $12,000

  • Septic systemlisting

    $12,000 new × 84% good × 1.80 allocation

    $18,200

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.