16 Bell Ln

Morganton, GA 30560

$266,000C+

2 bd · 2.0 ba · 1,120 sqft · Built 1988 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,604/mo
• Mortgage (P&I): −$1,395
• Tax + insurance: −$202
• HOA: −$0
• Vac / Maint / Mgmt: −$547
• Net cashflow: $460/mo
• Annual: $5,516/yr
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• 1% rule: 0.98%
• Cash to close: $74,480

Investor read

• This is a 2-bed/2.0-bath single-family listed at $266k.
• At list price, monthly cash flow is $460 ($6k/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 $260k (2.1% below list).
• It's been on market 17 days — a 2% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $260k (2.1% 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 57/100 on livability (#456 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, schools F, crime D-.
• Union County (rural): math 37% / reading 42% proficiency, ranked #48 of 174 in GA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 306 active listings in the ZIP; 281 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $29k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $225k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 8.4% vs local median 2.7% in Morganton — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.