288 Hoot Owl Hl
Morganton, GA 30560
$799,000
3 bd · 2 ba · Listed 10d ago
View on Realtor.com →Year built
2026
Sqft
—
Lot sqft
87,991
HOA / mo
$58
Furnished
No
List date
2026-09-17T17:38:54.000000Z
Revenue
Annual revenue
$52,349
ADR
$237
Occupancy
61%
Cleaning fees (12 mo)
$8,582
Confidence
Low (33.02), 5 comps
Comp revenue range (p25 / median / p75)
| Listing | Size | Revenue (12 mo) | ADR | Occ ≈ | Rating | Distance | Links |
|---|---|---|---|---|---|---|---|
 Treehouse Cabin | Hot Tub | Game Room | Deck Slide Cabin | 3 bd · 3 ba · sleeps 10 | $62,187 | $327 | 52% | 5★ (93) | 0.1 mi | AirbnbVrbo |
 Hoot Owl | $199 Off Your Stay! Cabin | 3 bd · 3 ba · sleeps 6 | $67,138 | $291 | 63% | 5★ (139) | 0.2 mi | AirbnbVrboBooking |
 Hoot Owl View- Pet Friendly, Views, Fire Pit Cabin | 3 bd · 3 ba · sleeps 6 | $29,262 | $297 | 27% | 4★ (4) | 0.2 mi | AirbnbVrboBooking |
 Painted Sky Lodge| Blue Ridge, GA Cabin | 3 bd · 3 ba · sleeps 8 | $259 | $259 | 0% | — | 0.2 mi | AirbnbVrbo |
 Viva LaVista- Blue Ridge- Amazing Views- Hot Tub- Cabin | 3 bd · 3 ba · sleeps 6 | $43,323 | $347 | 34% | 5★ (6) | 0.3 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
$52,349
NOI
$18,214
Cash flow /mo
-$2,788
Cash needed
$257,210
Cash-on-cash
-13.0%
ROE (yr 1)
-1.7%
Cap rate
2.3%
DSCR
0.35
Year-1 write-off
$201,586
Year-1 tax shield @ 32%
$64,507
Year-1 return on equity
- Cash flow (annual)-$33,453
- Principal paydown$5,229
- Appreciation at%$23,970
Opex, cash-needed & tax-savings breakdown
Annual operating expenses
- Management (20% of revenue)$10,470
- Platform fees (3% of revenue)$1,570
- Maintenance / capex (5% of revenue)$2,617
- Utilities & supplies$4,200
- HOA$696
- Property tax$6,072
- Insurance (STR-rated)$8,509
Cash needed to close
- Down payment (25%)$199,750
- Closing costs (4.0%)$31,960
- Furnishing (bought new)$25,500
Tax savings if the STR loophole applies
- Tax shield @ 32%$64,507
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
$679,000
Short-life (5/15-yr)
$174,000 · 26%
Year-1 deduction
$202,000
Year-1 tax shield @ 32%
$65,000
Land 15% (market default, no usable tax-record split) · building $505,000 over 39 years · new furniture $26,000
Based on: ~1,900 sq ft (from beds), built 2026, 3 bd / 2 ba, unfurnished, listing features (hot tub, deck, patio, game room, fireplace, stone counters, flooring types, appliance list, septic).
IRS-guide safe-harbor floor: $124,000 in year 1 (14% short-life, $40,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.
- $16,600
Kitchen cabinetsdefault
$10,000 new × 100% good × 1.67 allocation
- $17,000
Kitchen countertops (stone)listing
$10,200 new × 100% good × 1.67 allocation
- $5,500
Decorative trimdefault
$3,300 new × 100% good × 1.67 allocation
- $500
Mirrorsdefault
$300 new × 100% good × 1.67 allocation
- $2,000
Shelvingdefault
$1,200 new × 100% good × 1.67 allocation
- $7,900
Window coverings (19)default
$4,800 new × 100% good × 1.67 allocation
- $12,900
Kitchen & laundry equipment plumbingdefault
$7,800 new × 100% good × 1.67 allocation
- $7,800
Kitchen, laundry & data equipment electricaldefault
$4,700 new × 100% good × 1.67 allocation
- $9,500
Appliances (range, microwave, dishwasher, refrigerator)listing
$5,700 new × 100% good × 1.67 allocation
- $15,000
Hot tub (freestanding)listing
$9,000 new × 100% good × 1.67 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
- $15,100
Paving: driveway & walks (paved)default
$9,000 new × 100% good × 1.67 allocation
- $14,500
Landscaping (typical)default
$8,700 new × 100% good × 1.67 allocation
- $14,300
Patioslisting
$8,600 new × 100% good × 1.67 allocation
- $35,700
Decks & porches (attached)listing
$21,400 new × 100% good × 1.67 allocation
- $344,000
Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$206,100 new × 100% good × 1.67 allocation
- $35,700
Building plumbing & fixturesdefault
$21,400 new × 100% good × 1.67 allocation
- $35,600
Building electrical & lightingdefault
$21,400 new × 100% good × 1.67 allocation
- $35,700
HVACdefault
$21,400 new × 100% good × 1.67 allocation
- $20,400
Hardwood & tile floorsdefault
$12,200 new × 100% good × 1.67 allocation
- $13,200
Fireplaces (3)listing
$7,900 new × 100% good × 1.67 allocation
- $20,000
Septic systemlisting
$12,000 new × 100% good × 1.67 allocation
About the property
Depreciation schedule: typical cost seg study
| Year | 5-yr | 15-yr | Building | Total |
|---|---|---|---|---|
| 1 | $120,400 | $79,500 | $1,600 | $201,600 |
| 2 | $0 | $0 | $12,900 | $12,900 |
| 3 | $0 | $0 | $12,900 | $12,900 |
| 4 | $0 | $0 | $12,900 | $12,900 |
| 5 | $0 | $0 | $12,900 | $12,900 |
| 6+ | $0 | $0 | $451,300 | $451,300 |
| Total | $120,400 | $79,500 | $504,700 | $704,700 |
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.