30 Crooked Ct

Ellijay, GA 30540

$199,998F

3 bd · 2.0 ba · 1,216 sqft · Built 2026 · Manufactured · Active · 153 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,339/mo
• Mortgage (P&I): −$1,362
• Tax + insurance: −$433
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $-737/mo
• Annual: $-8,838/yr
• Cap rate: 2.89%
• Cash-on-cash: -12.16%
• DSCR: 0.46
• 1% rule: 0.52%
• Cash to close: $72,696

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $200k. Condition is rated good.
• At list price, monthly cash flow is $-737 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (33.1% below list).
• It's been on market 153 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (33.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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, amenities F, commute 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.
• Zoned schools: Mountain View Elementary (math 47% / reading 29%, grade F, #469 of 1,228 statewide, top 38%, 668 students, 67% FRL); Clear Creek Middle School (math 39% / reading 39%, grade F, #155 of 470 statewide, top 33%, 917 students, 63% FRL); Gilmer High School (math 12% / reading 38%, grade F, #181 of 424 statewide, top 43%, 1,174 students, 51% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: 1445 active listings in the ZIP; 176 units permitted in Gilmer County in 2024 (74 in 5+ unit buildings).
• Gilmer County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Cap rate 2.9% vs local median 1.9% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 153 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.