415 Woods Rd

Talking Rock, GA 30175

$405,000D-

2 bd · 1.0 ba · 780 sqft · Built 2019 · SingleFamily · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,609/mo
• Mortgage (P&I): −$2,124
• Tax + insurance: −$311
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $-1,163/mo
• Annual: $-13,958/yr
• Cap rate: 2.85%
• Cash-on-cash: -12.31%
• DSCR: 0.45
• 1% rule: 0.40%
• Cash to close: $113,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $405k.
• At list price, monthly cash flow is $-1k ($-14k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (50.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (60.3% below list).
• It's been on market 103 days — a 9% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (60.3% below list) — sets the bar for 1% rule.
• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#430 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment 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: Ellijay Elementary School (math 53% / reading 29%, grade F, #411 of 1,228 statewide, top 34%, 758 students, 74% 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 63% FRL track the district average.
• Market conditions: 318 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.
• 13 sale attempts since 4y 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.
• By year 2, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 2.8% vs local median 1.6% in Talking Rock — 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 103 days. Have you received any prior offers? Is the seller open to a 60% 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 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?
• 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.