37 Misty Mountain Overlook
Morganton, GA 30560
$689,000
3 bd · 3 ba · 2,244 sqft · Listed 25d ago
View on Realtor.com →Year built
2003
Sqft
2,244
Lot sqft
61,855
HOA / mo
$21
Furnished
No
List date
2026-09-02T18:56:54.000000Z
Revenue
Annual revenue
$57,140
ADR
$289
Occupancy
54%
Cleaning fees (12 mo)
$15,122
Confidence
Low (46.7), 5 comps
Comp revenue range (p25 / median / p75)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
 Misty Mountain Treehouse - Hot Tub, Pet Friendly Cabin | 2 bd · 1 ba · sleeps 4 | $31,259 | $214 | 40% | 4.3★ (41) | 0.2 mi | AirbnbVrboBooking |
 Lake Cabin Sleeps 8: Kayak, Fireplace, Views, Deck Cabin | 3 bd · 3.5 ba · sleeps 8 | $59,400 | $261 | 62% | 4.8★ (33) | 0.2 mi | AirbnbVrboBooking |
 Lake Blue Ridge. National Forest, hiking, lake House | 3 bd · 2 ba · sleeps 7 | $79,915 | $370 | 59% | 4.9★ (74) | 0.2 mi | AirbnbVrbo |
 Hideaway on the Hook - Cozy Lakefront Cabin Cabin | 4 bd · 2 ba · sleeps 9 | $25,284 | $384 | 18% | — | 0.7 mi | AirbnbVrbo |
 Classic Lake Blue Ridge Cabin | Rustic and Elegant Cabin | 3 bd · 2 ba · sleeps 8 | $99,143 | $446 | 61% | 5★ (120) | 0.8 mi | AirbnbVrbo |
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
$57,140
NOI
$27,010
Cash flow /mo
-$1,462
Cash needed
$225,310
Cash-on-cash
-7.8%
ROE (yr 1)
3.4%
Cap rate
3.9%
DSCR
0.61
Year-1 write-off
$133,563
Year-1 tax shield @ 32%
$42,740
Year-1 return on equity
- Cash flow (annual)-$17,543
- Principal paydown$4,509
- Appreciation at%$20,670
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$11,428
- Platform fees (3% of revenue)$1,714
- Maintenance / capex (5% of revenue)$2,857
- Utilities & supplies$4,200
- HOA$252
- Property tax$2,341
- Insurance (STR-rated)$7,338
Cash needed to close
- Down payment (25%)$172,250
- Closing costs (4.0%)$27,560
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$42,740
Property tax, insurance rate and the land/building split come from this listing's county tax record; 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
$510,000
Short-life (5/15-yr)
$107,000 · 21%
Year-1 deduction
$134,000
Year-1 tax shield @ 32%
$43,000
Land 26% (county tax record, market value split) · building $403,000 over 39 years · new furniture $26,000
Based on: 2,244 sq ft, built 2003, 3 bd / 3 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, stone counters, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $86,000 in year 1 (12% short-life, $28,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $8,600
Kitchen cabinetsdefault
$10,700 new × 40% good × 2.01 allocation
- $8,800
Kitchen countertops (stone)listing
$11,000 new × 40% good × 2.01 allocation
- $3,200
Decorative trimdefault
$3,900 new × 40% good × 2.01 allocation
- $400
Mirrorsdefault
$500 new × 40% good × 2.01 allocation
- $1,000
Shelvingdefault
$1,200 new × 40% good × 2.01 allocation
- $4,400
Window coverings (22)default
$5,500 new × 40% good × 2.01 allocation
- $9,000
Kitchen & laundry equipment plumbingdefault
$8,300 new × 54% good × 2.01 allocation
- $5,500
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 54% good × 2.01 allocation
- $3,900
Appliances (microwave, dishwasher, refrigerator, dryer)listing
$4,900 new × 40% good × 2.01 allocation
- $7,200
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.01 allocation
- $19,500
Furniture bought newlisting
$19,500 new × 100% good · bought separately
- $6,000
Game-room equipment bought newlisting
$6,000 new × 100% good · bought separately
- $9,900
Paving: driveway & walks (paved)default
$9,800 new × 50% good × 2.01 allocation
- $9,500
Landscaping (typical)default
$9,400 new × 50% good × 2.01 allocation
- $10,100
Patioslisting
$10,100 new × 50% good × 2.01 allocation
- $25,300
Decks & porches (attached)listing
$25,200 new × 50% good × 2.01 allocation
- $301,400
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$243,500 new × 62% good × 2.01 allocation
- $27,400
Building plumbing & fixturesdefault
$25,300 new × 54% good × 2.01 allocation
- $27,900
Building electrical & lightingdefault
$25,700 new × 54% good × 2.01 allocation
- $20,300
HVACdefault
$25,300 new × 40% good × 2.01 allocation
- $11,600
Hardwood & tile floorsdefault
$14,400 new × 40% good × 2.01 allocation
- $2,100
Fireplacelisting
$2,600 new × 40% good × 2.01 allocation
- $12,000
Septic systemlisting
$12,000 new × 50% good × 2.01 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $77,500 | $54,800 | $1,300 | $133,600 |
| 2 | $0 | $0 | $10,300 | $10,300 |
| 3 | $0 | $0 | $10,300 | $10,300 |
| 4 | $0 | $0 | $10,300 | $10,300 |
| 5 | $0 | $0 | $10,300 | $10,300 |
| 6+ | $0 | $0 | $360,200 | $360,200 |
| Total | $77,500 | $54,800 | $402,800 | $535,000 |
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.