217 Harbin Ct
Morganton, GA 30560
$425,000
2 bd · 2 ba · 1,380 sqft · Listed 1d ago
View on Realtor.com →Year built
2025
Sqft
1,380
Lot sqft
43,124
HOA / mo
None
Furnished
No
List date
2026-10-05T12:54:29.000000Z
Revenue
Annual revenue
$23,511
ADR
$208
Occupancy
31%
Cleaning fees (12 mo)
$3,852
Confidence
Low (30.3), 10 comps
Comp revenue range (p25 / median / p75)
Few similar-size comps were found, so all comps are shown.
Median revenue of shown comps: $25,943Checking amenities for 10 listings…
Blue Ridge, Blairsville Mtn Experience, Near Lake
Cabin · 3 bd · 2 ba · sleeps 8 · 0.2 mi
Revenue $30,395ADR $319Occ ≈ 26%5★ (12)
Morganton Cabin Hideaway | Peace & Nature
Cabin · 3 bd · 2 ba · sleeps 6 · 0.3 mi
Revenue $4,889ADR $218Occ ≈ 6%—
RV site for Rent with Pool and Lake Waterside 17
Campsite · 2 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $6,637ADR $36Occ ≈ 51%4.8★ (24)
Bear Blessings Cabin-Private 2 acres-WiFi- 2br/2ba
Cabin · 2 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $27,253ADR $170Occ ≈ 44%5★ (138)
Relax & Renew Private House with Hot Tub
House · 3 bd · 2 ba · sleeps 6 · 0.7 mi
Revenue $969ADR $323Occ ≈ 1%—
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
Private cabin w/ hot tub and outdoor fireplace Cabin | 3 bd · 2 ba · sleeps 8 | $36,151 | $333 | 30% | — | 0.1 mi | AirbnbVrboBooking |
Blue Ridge, Blairsville Mtn Experience, Near Lake Cabin | 3 bd · 2 ba · sleeps 8 | $30,395 | $319 | 26% | 5★ (12) | 0.2 mi | Airbnb |
Morganton Cabin Hideaway | Peace & Nature Cabin | 3 bd · 2 ba · sleeps 6 | $4,889 | $218 | 6% | — | 0.3 mi | Airbnb |
Cookie Cabin House | 2 bd · 1 ba · sleeps 4 | $8,341 | $144 | 16% | 5★ (6) | 0.6 mi | Airbnb |
Relax and Renew Cabin | 3 bd · 2 ba · sleeps 6 | $24,632 | $342 | 20% | 5★ (13) | 0.6 mi | AirbnbVrbo |
Meadow Creek -Peace & Quiet, hot tub and firepit Cabin | 3 bd · 3 ba · sleeps 6 | $43,300 | $273 | 43% | 4.7★ (31) | 0.6 mi | AirbnbVrboBooking |
RV site for Rent with Pool and Lake Waterside 17 Campsite | 2 bd · 2 ba · sleeps 6 | $6,637 | $36 | 51% | 4.8★ (24) | 0.7 mi | Airbnb |
Cabin Near Blue Ridge | Hot Tub + Pet Friendly Cabin | 3 bd · 2 ba · sleeps 6 | $29,626 | $281 | 29% | 4.9★ (16) | 0.7 mi | AirbnbVrboBooking |
Bear Blessings Cabin-Private 2 acres-WiFi- 2br/2ba Cabin | 2 bd · 2 ba · sleeps 6 | $27,253 | $170 | 44% | 5★ (138) | 0.7 mi | Airbnb |
Relax & Renew Private House with Hot Tub House | 3 bd · 2 ba · sleeps 6 | $969 | $323 | 1% | — | 0.7 mi | Vrbo |
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 8.03% = 7.28% Freddie Mac 30-yr avg (Oct 1) + 0.75% investor premium
Est. revenue
$23,511
NOI
$7,352
Cash flow /mo
-$1,733
Cash needed
$139,250
Cash-on-cash
-14.9%
ROE (yr 1)
-3.9%
Cap rate
1.7%
DSCR
0.26
Year-1 write-off
$94,774
Year-1 tax shield @ 32%
$30,328
Year-1 return on equity
- Cash flow (annual)-$20,795
- Principal paydown$2,647
- Appreciation at%$12,750
Tax savings aren't counted. Turn on “Count tax savings in returns” above if you can use the losses.
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$4,702
- Platform fees (3% of revenue)$705
- Maintenance / capex (5% of revenue)$1,176
- Utilities & supplies$4,200
- HOA$0
- Property tax$850
- Insurance (STR-rated)$4,526
Cash needed to close
- Down payment (25%)$106,250
- Closing costs (4.0%)$17,000
- Furnishing (bought new)$16,000
Tax savings if the STR loophole applies
- Tax shield @ 32%$30,328
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
$361,000
Short-life (5/15-yr)
$78,000 · 22%
Year-1 deduction
$95,000
Year-1 tax shield @ 32%
$30,000
Land 15% (market default, no usable tax-record split) · building $283,000 over 39 years · new furniture $16,000
Based on: 1,380 sq ft, built 2025, 2 bd / 2 ba, unfurnished, listing features (stone counters, flooring types, appliance list, septic).
Try the cost segregation calculator on any property →
IRS-guide safe-harbor floor: $66,000 in year 1 (14% short-life, $21,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $11,300
Kitchen cabinetsdefault
$8,800 new × 96% good × 1.34 allocation
- $11,600
Kitchen countertops (stone)listing
$9,000 new × 96% good × 1.34 allocation
- $3,100
Decorative trimdefault
$2,400 new × 96% good × 1.34 allocation
- $400
Mirrorsdefault
$300 new × 92% good × 1.34 allocation
- $1,200
Shelvingdefault
$900 new × 96% good × 1.34 allocation
- $4,200
Window coverings (14)default
$3,500 new × 90% good × 1.34 allocation
- $9,000
Kitchen & laundry equipment plumbingdefault
$6,900 new × 98% good × 1.34 allocation
- $5,400
Kitchen, laundry & data equipment electricaldefault
$4,200 new × 98% good × 1.34 allocation
- $9,400
Appliances (range, microwave, dishwasher, refrigerator, washer, dryer)listing
$7,700 new × 92% good × 1.34 allocation
- $16,000
Furniture bought newlisting
$16,000 new × 100% good · bought separately
- $9,900
Paving: driveway & walks (paved)default
$7,700 new × 96% good × 1.34 allocation
- $9,500
Landscaping (typical)default
$7,400 new × 96% good × 1.34 allocation
- $1,700
Patiosdefault
$1,400 new × 96% good × 1.34 allocation
- $1,700
Decks & porches (attached)default
$1,400 new × 95% good × 1.34 allocation
- $196,600
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$149,600 new × 98% good × 1.34 allocation
- $20,300
Building plumbing & fixturesdefault
$15,500 new × 98% good × 1.34 allocation
- $19,300
Building electrical & lightingdefault
$14,800 new × 98% good × 1.34 allocation
- $19,700
HVACdefault
$15,500 new × 95% good × 1.34 allocation
- $11,400
Hardwood & tile floorsdefault
$8,900 new × 96% good × 1.34 allocation
- $15,400
Septic systemlisting
$12,000 new × 96% good × 1.34 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $71,600 | $22,900 | $300 | $94,800 |
| 2 | $0 | $0 | $7,300 | $7,300 |
| 3 | $0 | $0 | $7,300 | $7,300 |
| 4 | $0 | $0 | $7,300 | $7,300 |
| 5 | $0 | $0 | $7,300 | $7,300 |
| 6+ | $0 | $0 | $253,500 | $253,500 |
| Total | $71,600 | $22,900 | $282,800 | $377,300 |
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: California, Georgia and Wisconsin disallow 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.