507 Big Stump Mountain Trl

Jasper, GA 30143

$389,900D+

3 bd · 3.0 ba · 2,428 sqft · Built 1978 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,870/mo
• Mortgage (P&I): −$2,045
• Tax + insurance: −$340
• HOA: −$375
• Vac / Maint / Mgmt: −$813
• Net cashflow: $297/mo
• Annual: $3,562/yr
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.15
• 1% rule: 0.99%
• Cash to close: $109,172

Investor read

• This is a 3-bed/3.0-bath single-family listed at $390k.
• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (0.8% below list).
• It's been on market 52 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $378k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#44 in GA, #4,976 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities D-, commute F, employment F.
• Pickens County (rural): math 35% / reading 35% proficiency, ranked #59 of 174 in GA (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tate Elementary School (math 37% / reading 27%, grade F, #582 of 1,228 statewide, top 50%, 482 students, 51% FRL); Pickens County Junior High School (math 35% / reading 38%, grade F, #167 of 470 statewide, top 38%, 611 students, 45% FRL); Pickens County High School (math 34% / reading 28%, grade F, #127 of 424 statewide, top 30%, 1,259 students, 36% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 723 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 260 units permitted in Pickens County in 2024 (0 in 5+ unit buildings).
• 9 sale attempts since 10y ago; this cycle's ask has dropped $35k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $290k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.2% vs local median 2.8% in Jasper — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.