282 Armor Way N · Ellijay, GA 30540

$249,000

2 bd · 2.0 ba · 1,276 sqft · SingleFamily public records · 60 Days on market

Built 2023 0.60 ac lot $195/sqft · 37% below area Est $415k · 40% under $90/mo HOA · 4% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel-perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

Key facts

• Open floor plan
• Sunset views
• River access

Tags

• CORNER LOT
• SUNSET VIEWS
• OPEN FLOOR PLAN
• COOSAWATTEE RIVER RESORT
• INDOOR AND OUTDOOR POOLS
• RIVER ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $230k (7.6% below list).
• Recommended offer: $230k (7.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 1.8% in Ellijay — 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.

Location & tenants

• Location reads 71/100 on livability (#85 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools D-, amenities F.
• Gilmer County (rural): math 39% / reading 36% proficiency, ranked #56 of 174 in GA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 971 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 176 units permitted in Gilmer County in 2024 (74 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Gilmer County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 6y ago; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,000 (7.6% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• GRM: 9.0

CMA / ARV

• ARV (median comp): $414,950
• List price: $249,000
• Delta: -39.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
76 Cypress Cir	0.13mi	2/2.5	1,344 (+5%)	4mo	$407,900	$303	80
30 Cypress Cir	0.17mi	3/2.0 (+1)	1,372 (+8%)	3mo	$422,000	$308	72
56 Monica Ct	0.34mi	3/2.0 (+1)	1,200 (-6%)	1mo	$435,000	$363	68
8 Mildred Ln	0.16mi	2/2.0	1,164 (-9%)	13mo	$341,000	$293	67
59 Lemmon Ln	0.62mi	2/2.0	1,232 (-3%)	1mo	$300,000	$244	64
10 Morley Dr	0.63mi	2/2.0	1,308 (+2%)	6mo	$420,000	$321	62
89 Pamela Ct #2237	0.44mi	3/2.0 (+1)	1,200 (-6%)	4mo	$384,900	$321	61
89 Pamela Ct	0.44mi	3/2.0 (+1)	1,200 (-6%)	4mo	$384,000	$320	61
3240 Newport Dr	0.37mi	3/2.0 (+1)	1,200 (-6%)	10mo	$364,777	$304	60
21 Matrix Ln	0.56mi	2/2.0	1,328 (+4%)	12mo	$235,000	$177	57
723 Parody Cir	0.66mi	3/2.0 (+1)	1,380 (+8%)	0mo	$475,000	$344	50
119 Ezra Ct	0.73mi	3/2.5 (+1)	1,256 (-2%)	8mo	$220,000	$175	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.55×
• Total profit: $-31,194
• Equity at exit: $37,127

10-year hold

• IRR: -3.3%
• Equity multiple: 0.78×
• Total profit: $-15,359
• Equity at exit: $21,529

Cash invested: $69,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Georgia: 90 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

Magistrate court evictions in 10-30 days; no rent control; preempted; few tenant protections.

Methodology + full state rankings →

ZIP-level market 30540

• Home prices YoY: -11.0%
• Active inventory: 971
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$104
• HOA: −$90
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $144

Break-even live

Break-even rent $2,118

Max offer price $249,000

Occupancy floor 89%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Ridgecrest Ct Ellijay, GA	3.0	2.0	1565	$2,300	$1.47	18d	1	1.38mi

HOA detail

• Monthly dues: $90 · $1,080/yr
• Likely covers: poolgym

Listing history 49 events

1. 2026-06-18
   days on market $249,000 Active 60 DOM
2. 2026-06-17
   days on market $249,000 Active 59 DOM
3. 2026-06-16
   days on market $249,000 Active 58 DOM
4. 2026-06-15
   days on market $249,000 Active 57 DOM
5. 2026-06-14
   days on market $249,000 Active 55 DOM
6. 2026-06-13
   days on market $249,000 Active 54 DOM
7. 2026-06-10
   days on market $249,000 Active 52 DOM
8. 2026-06-09
   days on market $249,000 Active 51 DOM
9. 2026-06-08
   days on market $249,000 Active 50 DOM
10. 2026-06-07
    days on market $249,000 Active 49 DOM
11. 2026-06-05
    days on market $249,000 Active 46 DOM
12. 2026-06-03
    days on market $249,000 Active 45 DOM
13. 2026-06-02
    days on market $249,000 Active 44 DOM
14. 2026-06-01
    days on market $249,000 Active 43 DOM
15. 2026-05-31
    days on market $249,000 Active 42 DOM
16. 2026-05-31
    days on market $249,000 Active 41 DOM
17. 2026-05-07
    price $249,000 606-char remark

    Show marketing remark (612 chars)

    Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel—perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

18. 2026-05-07
    price $249,000 612-char remark

    Show marketing remark (612 chars)

    Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel—perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

19. 2026-04-30
    price $275,000 606-char remark

    Show marketing remark (612 chars)

    Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel—perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

20. 2026-04-30
    price $275,000 612-char remark

    Show marketing remark (612 chars)

    Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel—perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

21. 2026-04-19
    listed $299,000 Active 612-char remark

    Show marketing remark (612 chars)

    Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel—perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

22. 2026-04-17
    listed $299,000 New 606-char remark

    Show marketing remark (606 chars)

    Welcome home to your mountain escape! This brand-new 2-bedroom, 2-bath custom build sits on a beautiful corner lot with stunning sunset views you'll never get tired of. The open floor plan creates a cozy yet spacious feel-perfect for hosting friends or enjoying quiet evenings surrounded by nature. Located in Coosawattee River Resort, you'll have access to incredible amenities like indoor and outdoor pools, river access, a fishing pond, fitness center, and tennis courts. Whether you're looking for a full-time home, a vacation getaway, or a short-term rental opportunity, this one checks all the boxes.

23. 2025-10-31
    historical
24. 2025-06-20
    price $299,000
25. 2025-04-17
    listed $349,000 Active
26. 2025-04-17
    listed $299,000 New
27. 2024-07-31
    historical
28. 2024-07-31
    historical
29. 2024-06-29
    price $329,900
30. 2024-06-29
    price $329,900
31. 2024-06-03
    listed $365,000 New
32. 2024-06-03
    listed $365,000 Active
33. 2024-04-30
    historical
34. 2024-04-30
    historical
35. 2024-03-12
    status Active
36. 2024-02-14
    listed $365,000 New
37. 2024-02-14
    listed $365,000 Active
38. 2024-01-18
    historical
39. 2024-01-18
    historical
40. 2023-12-19
    listed $365,000 Active
41. 2023-12-19
    listed $365,000 New
42. 2023-12-18
    historical
43. 2023-11-17
    listed $365,000 New
44. 2023-08-18
    historical
45. 2023-07-18
    listed $275,000 New
46. 2023-07-17
    historical
47. 2023-03-21
    listed $399,000 New
48. 2021-03-28
    historical
49. 2020-03-18
    listed $7,200 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $2,086 · $174/mo
• Projected year-2 tax: $2,291 · $191/mo
• Expected delta: +$205/yr (+$17/mo · 9.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,600
• − Mortgage interest: −$13,948
• − Property taxes: −$2,086
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − HOA: −$1,080
• − Depreciation: −$7,244
• Taxable loss: −$2,418
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $2,304/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Gilmer County
• NCES district ID: 1302340
• Math proficiency: 39% ▼ -7.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $40,473
• Composite: 31.53/100
• National rank: #5961
• State rank: #56 of 174 in GA

Livability — Ellijay

• Score: 71/100
• State rank: #85
• US rank: #7087

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment D Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 20,145

Population outlook (Gilmer County) Hauer SSP2

• Today (2025): 31,466 people
• By 2030: 32,199 · +2.3%
• By 2040: 33,034 · +5.0%
• By 2050: 33,266 · +5.7%
• By 2075: 33,686 · +7.1%
• By 2100: 33,792 · +7.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Gilmer

• 2024 margin: Solid R (+62.6) · D 18.5% · R 81.0%
• 2008→2024 swing: -10.6pp toward R · 2008: -52.0pp · 2024: -62.6pp
• All cycles: 2024: R+62.6 2020: R+63.5 2016: R+66.9 2012: R+63.3 2008: R+52.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.49%
• Current HPI: 270.796
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

Industry mix (Fortune 500 HQ in GA)

Industry	F500 HQs	Revenue
▸Paper / Packaging	2	$29B
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

+3358.3% since first listed

33 events — show timeline

• 2026-05-07 Price Changed $249,000 GAMLS
• 2026-05-07 Price Changed $249,000 NEGBOR
• 2026-04-30 Price Changed $275,000 GAMLS
• 2026-04-30 Price Changed $275,000 NEGBOR
• 2026-04-19 Listed $299,000 NEGBOR
• 2026-04-17 Listed $299,000 GAMLS
• 2025-10-31 Listing Removed — GAMLS
• 2025-06-20 Price Changed $299,000 NEGBOR
• 2025-04-17 Listed $299,000 GAMLS
• 2025-04-17 Listed $349,000 NEGBOR
• 2024-07-31 Listing Removed — FMLS
• 2024-07-31 Listing Removed — GAMLS
• 2024-06-29 Price Changed $329,900 GAMLS
• 2024-06-29 Price Changed $329,900 FMLS
• 2024-06-03 Listed $365,000 FMLS
• 2024-06-03 Listed $365,000 GAMLS
• 2024-04-30 Listing Removed — FMLS
• 2024-04-30 Listing Removed — GAMLS
• 2024-03-12 Relisted — FMLS
• 2024-02-14 Listed $365,000 FMLS
• 2024-02-14 Listed $365,000 GAMLS
• 2024-01-18 Listing Removed — GAMLS
• 2024-01-18 Listing Removed — FMLS
• 2023-12-19 Listed $365,000 GAMLS
• 2023-12-19 Listed $365,000 FMLS
• 2023-12-18 Listing Removed — GAMLS
• 2023-11-17 Listed $365,000 GAMLS
• 2023-08-18 Listing Removed — GAMLS
• 2023-07-18 Listed $275,000 GAMLS
• 2023-07-17 Listing Removed — GAMLS
• 2023-03-21 Listed $399,000 GAMLS
• 2021-03-28 Listing Removed — FMLS
• 2020-03-18 Listed $7,200 FMLS

Property tax history

+41.4%/yr

Latest (2025): $2,086 · +0.9% YoY. Source: county tax records.