615 Gunstock Creek Ln · Ellijay, GA 30540

$219,000

3 bd · 2.0 ba · 1,152 sqft · Other · 92 Days on market

Built 2000 1.16 ac lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• 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

Affordable, flexible, and full of potential—this 3 bedroom, 2 bath doublewide on a permanent foundation sits on 1.16 unrestricted acres in Gilmer County. The home offers comfortable single-level living with a practical layout and space to make it your own. A small, mostly flat yard around the home provides an easy-to-maintain outdoor space, while the surrounding wooded area offers room to expand the yard, add a garden, or create additional outdoor living areas over time. With no restrictions, this property opens the door to a variety of possibilities. It's a great fit for a first-time buyer looking for an affordable place to call home, someone ready to downsize into a manageable retirement property, or an investor looking to add a solid rental to their portfolio. Convenient to the amenities of Gilmer County while still offering the peaceful feel of the North Georgia mountains, this property is a great opportunity to step into homeownership or grow your investment portfolio.

Key facts

• Permanent foundation
• Mostly flat yard
• Unrestricted acres

Tags

• PERMANENT FOUNDATION
• UNRESTRICTED ACRES
• MOSTLY FLAT YARD
• SURROUNDING WOODED AREA
• CONVENIENT TO AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $219k.

Deal economics

• At list price, monthly cash flow is $67 ($798/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 $200k (8.7% below list).
• Recommended offer: $199k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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 92 days — a 9% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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.
• Current owner paid $50k; list at $219k implies a 334% gain — meaningful room to come down on a strong offer.

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 $199,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.2%
• Equity multiple: 0.49×
• Total profit: $-31,219
• Equity at exit: $32,654

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-21,605
• Equity at exit: $18,935

Cash invested: $61,320 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $67

Break-even live

Break-even rent $1,916

Max offer price $219,000

Occupancy floor 92%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
569 Dover Chapel Rd Ellijay, GA	3.0	2.0	1248	$2,000	$1.60	43d	1	1.24mi

Listing history 17 events

1. 2026-06-09
   days on market $219,000 Active 92 DOM
2. 2026-06-08
   days on market $219,000 Active 91 DOM
3. 2026-06-07
   days on market $219,000 Active 90 DOM
4. 2026-06-05
   days on market $219,000 Active 87 DOM
5. 2026-06-03
   days on market $219,000 Active 86 DOM
6. 2026-06-02
   days on market $219,000 Active 85 DOM
7. 2026-06-01
   days on market $219,000 Active 84 DOM
8. 2026-05-31
   days on market $219,000 Active 83 DOM
9. 2026-05-31
   days on market $219,000 Active 82 DOM
10. 2026-03-09
    listed $219,000 Active 994-char remark

    Show marketing remark (994 chars)

    Affordable, flexible, and full of potential—this 3 bedroom, 2 bath doublewide on a permanent foundation sits on 1.16 unrestricted acres in Gilmer County. The home offers comfortable single-level living with a practical layout and space to make it your own. A small, mostly flat yard around the home provides an easy-to-maintain outdoor space, while the surrounding wooded area offers room to expand the yard, add a garden, or create additional outdoor living areas over time. With no restrictions, this property opens the door to a variety of possibilities. It's a great fit for a first-time buyer looking for an affordable place to call home, someone ready to downsize into a manageable retirement property, or an investor looking to add a solid rental to their portfolio. Convenient to the amenities of Gilmer County while still offering the peaceful feel of the North Georgia mountains, this property is a great opportunity to step into homeownership or grow your investment portfolio.

11. 2026-03-08
    listed $219,000 Active 788-char remark

    Show marketing remark (788 chars)

    Affordable, full of potential, this 3 bedroom, 2 bath doublewide on a permanent foundation sits on 1.16 unrestricted acres in Gilmer County. The home offers comfortable single-level living with a practical layout and space to make it your own. A small, mostly flat yard around the home provides an easy-to-maintain outdoor space, while the surrounding wooded area offers room to expand the yard, add a garden, or create additional outdoor living areas over time. With no restrictions, this property opens the door to a variety of possibilities. It's a great fit for a first-time buyer looking for an affordable place to call home, someone ready to downsize into a manageable retirement property, or an investor looking to add a solid rental to their portfolio. Near Carters Lake amenities

12. 2024-04-23
    historical $1,500
13. 2024-03-24
    listed $1,500
14. 2020-09-14
    soldstatus $50,500
15. 2000-02-26
    soldstatus $5,500
16. 1997-05-01
    soldstatus $6,667
17. 1996-10-01
    soldstatus $12,521

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

Climate risk First Street

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

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$6,371
• Taxable loss: −$2,858
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $1,484/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

+1649.1% since first listed

8 events — show timeline

• 2026-03-09 Listed $219,000 NEGBOR
• 2026-03-08 Listed $219,000 CCARMLS
• 2024-04-23 Rental Removed $1,500 RENTSPREE
• 2024-03-24 Listed for Rent $1,500 RENTSPREE
• 2020-09-14 Sold (Public Records) $50,500 Public Records
• 2000-02-26 Sold (Public Records) $5,500 Public Records
• 1997-05-01 Sold (Public Records) $6,667 Public Records
• 1996-10-01 Sold (Public Records) $12,521 Public Records

Property tax history

+1.4%/yr

Latest (2025): $121 · +10.5% YoY. Source: county tax records.