STR Yield
← Back to deals
MortgageCash
90 Picklesimer Mountain Trl

90 Picklesimer Mountain Trl

Morganton, GA 30560

$699,000

3 bd · 2.5 ba · 2,200 sqft · Listed 23d ago

View on Realtor.com →
Low confidenceEst. land %

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)

$20,686$28,550$38,247

  • Camp Ollie - Mountain View | Hot Tub | Firepit

    Cabin · 3 bd · 2.5 ba · sleeps 8 · 0.1 mi

    Revenue $19,078ADR $286Occ ≈ 18%5★ (2)

    AirbnbVrboBooking

  • Pet Friendly! Hot Tub! King Beds! Arcade

    Cabin · 3 bd · 3 ba · sleeps 8 · 0.3 mi

    Revenue $54,974ADR $278Occ ≈ 54%5★ (174)

    AirbnbVrbo

  • The Dream Catcher - Luxury Cabin Rental

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.4 mi

    Revenue $17,474ADR $217Occ ≈ 22%5★ (188)

    AirbnbVrbo

  • Breathtaking Views, Hot Tub, Game Room Cabin

    Cabin · 3 bd · 3 ba · sleeps 6 · 0.5 mi

    Revenue $31,591ADR $231Occ ≈ 37%5★ (25)

    AirbnbVrbo

  • Little Bear Cabin

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

    Revenue $25,509ADR $227Occ ≈ 31%4.9★ (9)

    Airbnb

  • Love You Deerly- Screened Porch, PingPong, FirePit

    Cabin · 3 bd · 3 ba · sleeps 10 · 0.8 mi

    Revenue $40,465ADR $365Occ ≈ 30%5★ (7)

    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

$29,999

NOI

$4,643

Cash flow /mo

$387

Cash needed

$752,460

Cash-on-cash (all cash)

0.6%

ROE (yr 1)

3.4%

Cap rate

0.7%

DSCR

—

Year-1 write-off

$145,911

Year-1 tax shield @ 32%

$46,691

Year-1 return on equity

  • Cash flow (annual)$4,643
  • Principal paydown (n/a, cash)$0
  • Appreciation at%$20,970
ROE3.4%
ROE incl. year-1 tax savings (32% bracket, STR loophole)9.6%
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

  • Purchase price (all cash)$699,000
  • 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.

5-year property$85,700

  • Kitchen cabinetsdefault

    $10,600 new × 40% good × 2.26 allocation

    $9,600

  • Kitchen countertopsdefault

    $8,700 new × 40% good × 2.26 allocation

    $7,900

  • Decorative trimdefault

    $3,900 new × 40% good × 2.26 allocation

    $3,500

  • Mirrorsdefault

    $300 new × 40% good × 2.26 allocation

    $300

  • Shelvingdefault

    $1,200 new × 40% good × 2.26 allocation

    $1,100

  • Window coverings (22)default

    $5,500 new × 40% good × 2.26 allocation

    $5,000

  • Carpet, vinyl & laminate (25% of floors)listing

    $3,500 new × 40% good × 2.26 allocation

    $3,200

  • Kitchen & laundry equipment plumbingdefault

    $8,300 new × 60% good × 2.26 allocation

    $11,200

  • Kitchen, laundry & data equipment electricaldefault

    $5,000 new × 60% good × 2.26 allocation

    $6,800

  • Appliances (range, refrigerator)listing

    $4,000 new × 40% good × 2.26 allocation

    $3,600

  • Hot tub (freestanding)listing

    $9,000 new × 40% good × 2.26 allocation

    $8,100

  • Furniture bought newlisting

    $19,500 new × 100% good · bought separately

    $19,500

  • Game-room equipment bought newlisting

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

    $6,000
15-year land improvements$58,700

  • Paving: driveway & walks (paved)default

    $9,700 new × 50% good × 2.26 allocation

    $11,000

  • Landscaping (typical)default

    $9,400 new × 50% good × 2.26 allocation

    $10,600

  • Patiosdefault

    $2,200 new × 50% good × 2.26 allocation

    $2,500

  • Decks & porches (attached)listing

    $24,800 new × 50% good × 2.26 allocation

    $27,900

  • Fencinglisting

    $6,000 new × 50% good × 2.26 allocation

    $6,800
Building, 39-year$475,300

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

    $238,900 new × 67% good × 2.26 allocation

    $359,700

  • Building plumbing & fixturesdefault

    $24,800 new × 60% good × 2.26 allocation

    $33,600

  • Building electrical & lightingdefault

    $25,200 new × 60% good × 2.26 allocation

    $34,100

  • HVACdefault

    $24,800 new × 40% good × 2.26 allocation

    $22,400

  • Hardwood & tile floorsdefault

    $10,600 new × 40% good × 2.26 allocation

    $9,600

  • Fireplacelisting

    $2,600 new × 40% good × 2.26 allocation

    $2,400

  • Septic systemlisting

    $12,000 new × 50% good × 2.26 allocation

    $13,600

About the property

Depreciation schedule: typical cost seg study

Year5-yr15-yrBuildingTotal
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.