90 Picklesimer Mountain Trl
Morganton, GA 30560
$699,000
3 bd · 2.5 ba · 2,200 sqft · Listed 23d ago
View on Realtor.com →Year built
2006
Sqft
2,200
Lot sqft
56,628
HOA / mo
None
Furnished
No
List date
2026-09-04T18:40:48.000000Z
Revenue
Annual revenue
$29,999
ADR
$243
Occupancy
34%
Cleaning fees (12 mo)
$7,159
Confidence
Med (54.72), 6 comps
Comp revenue range (p25 / median / p75)
Little Bear Cabin
Cabin · 3 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $25,509ADR $227Occ ≈ 31%4.9★ (9)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Camp Ollie - Mountain View | Hot Tub | Firepit Cabin | 3 bd · 2.5 ba · sleeps 8 | $19,078 | $286 | 18% | 5★ (2) | 0.1 mi | AirbnbVrboBooking |
Pet Friendly! Hot Tub! King Beds! Arcade Cabin | 3 bd · 3 ba · sleeps 8 | $54,974 | $278 | 54% | 5★ (174) | 0.3 mi | AirbnbVrbo |
The Dream Catcher - Luxury Cabin Rental Cabin | 3 bd · 3 ba · sleeps 6 | $17,474 | $217 | 22% | 5★ (188) | 0.4 mi | AirbnbVrbo |
Breathtaking Views, Hot Tub, Game Room Cabin Cabin | 3 bd · 3 ba · sleeps 6 | $31,591 | $231 | 37% | 5★ (25) | 0.5 mi | AirbnbVrbo |
Little Bear Cabin Cabin | 3 bd · 2 ba · sleeps 6 | $25,509 | $227 | 31% | 4.9★ (9) | 0.7 mi | Airbnb |
Love You Deerly- Screened Porch, PingPong, FirePit Cabin | 3 bd · 3 ba · sleeps 10 | $40,465 | $365 | 30% | 5★ (7) | 0.8 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
$29,999
NOI
$4,643
Cash flow /mo
-$3,380
Cash needed
$228,210
Cash-on-cash
-17.8%
ROE (yr 1)
-6.6%
Cap rate
0.7%
DSCR
0.10
Year-1 write-off
$145,911
Year-1 tax shield @ 32%
$46,691
Year-1 return on equity
- Cash flow (annual)-$40,557
- Principal paydown$4,574
- Appreciation at%$20,970
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$6,000
- Platform fees (3% of revenue)$900
- Maintenance / capex (5% of revenue)$1,500
- Utilities & supplies$4,200
- HOA$0
- Property tax$5,312
- Insurance (STR-rated)$7,444
Cash needed to close
- Down payment (25%)$174,750
- Closing costs (4.0%)$27,960
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$46,691
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
$594,000
Short-life (5/15-yr)
$119,000 · 20%
Year-1 deduction
$146,000
Year-1 tax shield @ 32%
$47,000
Land 15% (market default, no usable tax-record split) · building $475,000 over 39 years · new furniture $26,000
Based on: 2,200 sq ft, built 2006, 3 bd / 2.5 ba, unfurnished, listing features (hot tub, deck, fence, game room, fireplace, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $96,000 in year 1 (12% short-life, $31,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $9,600
Kitchen cabinetsdefault
$10,600 new × 40% good × 2.26 allocation
- $7,900
Kitchen countertopsdefault
$8,700 new × 40% good × 2.26 allocation
- $3,500
Decorative trimdefault
$3,900 new × 40% good × 2.26 allocation
- $300
Mirrorsdefault
$300 new × 40% good × 2.26 allocation
- $1,100
Shelvingdefault
$1,200 new × 40% good × 2.26 allocation
- $5,000
Window coverings (22)default
$5,500 new × 40% good × 2.26 allocation
- $3,200
Carpet, vinyl & laminate (25% of floors)listing
$3,500 new × 40% good × 2.26 allocation
- $11,200
Kitchen & laundry equipment plumbingdefault
$8,300 new × 60% good × 2.26 allocation
- $6,800
Kitchen, laundry & data equipment electricaldefault
$5,000 new × 60% good × 2.26 allocation
- $3,600
Appliances (range, refrigerator)listing
$4,000 new × 40% good × 2.26 allocation
- $8,100
Hot tub (freestanding)listing
$9,000 new × 40% good × 2.26 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
- $11,000
Paving: driveway & walks (paved)default
$9,700 new × 50% good × 2.26 allocation
- $10,600
Landscaping (typical)default
$9,400 new × 50% good × 2.26 allocation
- $2,500
Patiosdefault
$2,200 new × 50% good × 2.26 allocation
- $27,900
Decks & porches (attached)listing
$24,800 new × 50% good × 2.26 allocation
- $6,800
Fencinglisting
$6,000 new × 50% good × 2.26 allocation
- $359,700
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$238,900 new × 67% good × 2.26 allocation
- $33,600
Building plumbing & fixturesdefault
$24,800 new × 60% good × 2.26 allocation
- $34,100
Building electrical & lightingdefault
$25,200 new × 60% good × 2.26 allocation
- $22,400
HVACdefault
$24,800 new × 40% good × 2.26 allocation
- $9,600
Hardwood & tile floorsdefault
$10,600 new × 40% good × 2.26 allocation
- $2,400
Fireplacelisting
$2,600 new × 40% good × 2.26 allocation
- $13,600
Septic systemlisting
$12,000 new × 50% good × 2.26 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $85,700 | $58,700 | $1,500 | $145,900 |
| 2 | $0 | $0 | $12,200 | $12,200 |
| 3 | $0 | $0 | $12,200 | $12,200 |
| 4 | $0 | $0 | $12,200 | $12,200 |
| 5 | $0 | $0 | $12,200 | $12,200 |
| 6+ | $0 | $0 | $425,000 | $425,000 |
| Total | $85,700 | $58,700 | $475,300 | $619,700 |
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.