299 Greenfield Rd

Morganton, GA 30560

$599,000

3 bd · 2 ba · 1,636 sqft · Listed 30d ago

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Low confidenceEst. land %

Year built

2026

Sqft

1,636

Lot sqft

42,689

HOA / mo

$79

Furnished

List date

2026-08-28T01:31:28.000000Z

Revenue

Annual revenue

$22,787

ADR

$156

Occupancy

40%

Cleaning fees (12 mo)

$3,739

Confidence

Low (—), 4 comps

Comp revenue range (p25 / median / p75)

$19,477$21,325$24,694

The perfect mountain trip
House · 3 bd · 3 ba · sleeps 6 · 0.3 mi
Revenue $16,505ADR $194Occ ≈ 23%5★ (179)
Vrbo
Waterfront Cabin in Blue Ridge Mountain w/ Hot tub
Cabin · 3 bd · 2 ba · sleeps 5 · 0.4 mi
Revenue $32,228ADR $239Occ ≈ 37%5★ (48)
Airbnb
Cozy Blue Ridge Tiny Home-Views, Patio & Fire Pit
Tiny house · 3 bd · 1 ba · sleeps 6 · 0.7 mi
Revenue $20,468ADR $184Occ ≈ 30%5★ (65)
Airbnb Vrbo
Blue Ridge Tiny Home | Gated Community Near Lake
Tiny house · 3 bd · 1 ba · sleeps 6 · 0.7 mi
Revenue $22,182ADR $145Occ ≈ 42%4.5★ (21)
Airbnb Vrbo

Listing	Size	Revenue (12 mo)	ADR	Occ ≈	Rating	Distance	Links
The perfect mountain trip House	3 bd · 3 ba · sleeps 6	$16,505	$194	23%	5★ (179)	0.3 mi	Vrbo
Waterfront Cabin in Blue Ridge Mountain w/ Hot tub Cabin	3 bd · 2 ba · sleeps 5	$32,228	$239	37%	5★ (48)	0.4 mi	Airbnb
Cozy Blue Ridge Tiny Home-Views, Patio & Fire Pit Tiny house	3 bd · 1 ba · sleeps 6	$20,468	$184	30%	5★ (65)	0.7 mi	Airbnb Vrbo
Blue Ridge Tiny Home \| Gated Community Near Lake Tiny house	3 bd · 1 ba · sleeps 6	$22,182	$145	42%	4.5★ (21)	0.7 mi	Airbnb 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

Financing

Purchase priceAlready furnishedTax bracket

Est. revenue

$22,787

NOI

$327

Cash flow /mo

$27

Cash needed

$648,460

Cash-on-cash (all cash)

0.1%

ROE (yr 1)

2.8%

Cap rate

0.1%

DSCR

—

Year-1 write-off

$144,577

Year-1 tax shield @ 32%

$46,265

Year-1 return on equity

Cash flow (annual)$327
Principal paydown (n/a, cash)$0
Appreciation at%$17,970

ROE2.8%

ROE incl. year-1 tax savings (32% bracket, STR loophole)10.0%

Opex, cash-needed & tax-savings breakdown

Annual operating expenses

Management (20% of revenue)$4,557
Platform fees (3% of revenue)$684
Maintenance / capex (5% of revenue)$1,139
Utilities & supplies$4,200
HOA$948
Property tax$4,552
Insurance (STR-rated)$6,379

Cash needed to close

Purchase price (all cash)$599,000
Closing costs (4.0%)$23,960
Furnishing (bought new)$25,500

Tax savings if the STR loophole applies

Tax shield @ 32%$46,265

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

$509,000

Short-life (5/15-yr)

$117,000 · 23%

Year-1 deduction

$145,000

Year-1 tax shield @ 32%

$46,000

Land 15% (market default, no usable tax-record split) · building $392,000 over 39 years · new furniture $26,000

Based on: 1,636 sq ft, built 2026, 3 bd / 2 ba, unfurnished, listing features (deck, game room, fireplace, flooring types, appliance list, septic).

IRS-guide safe-harbor floor: $85,000 in year 1 (11% short-life, $27,000 tax shield), the conservative amount following the IRS audit guide's residential classification table.

5-year property$87,400

Kitchen cabinetsdefault
$9,400 new × 100% good × 1.51 allocation
$14,200
Kitchen countertopsdefault
$7,700 new × 100% good × 1.51 allocation
$11,600
Decorative trimdefault
$2,900 new × 100% good × 1.51 allocation
$4,300
Mirrorsdefault
$300 new × 100% good × 1.51 allocation
$500
Shelvingdefault
$1,200 new × 100% good × 1.51 allocation
$1,800
Window coverings (16)default
$4,000 new × 100% good × 1.51 allocation
$6,000
Kitchen & laundry equipment plumbingdefault
$7,300 new × 100% good × 1.51 allocation
$11,000
Kitchen, laundry & data equipment electricaldefault
$4,400 new × 100% good × 1.51 allocation
$6,700
Appliances (microwave, dishwasher, refrigerator)listing
$3,900 new × 100% good × 1.51 allocation
$5,900
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$55,000

Paving: driveway & walks (paved)default
$8,400 new × 100% good × 1.51 allocation
$12,700
Landscaping (typical)default
$8,100 new × 100% good × 1.51 allocation
$12,200
Patiosdefault
$1,600 new × 100% good × 1.51 allocation
$2,400
Decks & porches (attached)listing
$18,400 new × 100% good × 1.51 allocation
$27,800

Building, 39-year$392,200

Structure: foundation, framing, walls, windows, doors, roof, interior finishesdefault
$177,300 new × 100% good × 1.51 allocation
$267,500
Building plumbing & fixturesdefault
$18,400 new × 100% good × 1.51 allocation
$27,700
Building electrical & lightingdefault
$18,000 new × 100% good × 1.51 allocation
$27,200
HVACdefault
$18,400 new × 100% good × 1.51 allocation
$27,800
Hardwood & tile floorsdefault
$10,500 new × 100% good × 1.51 allocation
$15,900
Fireplaces (2)listing
$5,300 new × 100% good × 1.51 allocation
$7,900
Septic systemlisting
$12,000 new × 100% good × 1.51 allocation
$18,100

About the property

Sold furnishedGame roomHot tubPoolDeckDrivewayLandscapingFencedIrrigationLong-term rental (27.5-yr)Carpet / vinyl / laminate %Placed in serviceClosing costs $ (adds to basis)Land %Bonus depreciation %

Depreciation schedule: typical cost seg study

Year	5-yr	15-yr	Building	Total
1	$87,400	$55,000	$2,100	$144,600
2	$0	$0	$10,100	$10,100
3	$0	$0	$10,100	$10,100
4	$0	$0	$10,100	$10,100
5	$0	$0	$10,100	$10,100
6+	$0	$0	$349,900	$349,900
Total	$87,400	$55,000	$392,200	$534,700

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.