312 Sally Gap Rd · Hiawassee, GA 28904

$80,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 35 Days on market

Built 1966 ↓ 32% since listing

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• Schools +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

GREAT STARTER OR GET-AWAY HOME! 3 bedrooms , 1 bath on 1 acre with breathtaking views of pastures and long range mountain views, garden spot and lots of trees in private location , neat and clean as can be!

Key facts

• Built 1966
• Listed 35 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $660 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 2.0% in Hiawassee — 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 77/100 on livability (#22 in GA, #3,192 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A-; Watch: amenities F, commute F.
• Clay County Schools (rural): math 47% / reading 50% proficiency, ranked #73 of 178 in NC (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 143 units permitted in Clay County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($553 loan paydown + $992 appreciation (1.2% local appreciation)).
• Clay County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.81% ✓
• Cap rate: 16.19%
• Cash-on-cash: 35.35%
• DSCR: 2.57
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 2.98×
• Total profit: $44,445
• Equity at exit: $28,316

10-year hold

• IRR: 40.0%
• Equity multiple: 5.86×
• Total profit: $108,934
• Equity at exit: $38,419

Cash invested: $22,400 (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 28904

• Home prices YoY: 0.4%
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,452 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $660

Break-even live

Break-even rent $616

Max offer price $80,000

Occupancy floor 50%

Sensitivity live

Price	-10% $705	-5% $682	+0% $660	+5% $637	+10% $615
Rent	-10% $545	-5% $602	+0% $660	+5% $717	+10% $774
Rate	-1.0pp $700	-0.5pp $680	base $660	+0.5pp $639	+1.0pp $618

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-16
   statusdays on market $80,000 Under Contract 35 DOM
2. 2026-06-15
   days on market $80,000 Active 34 DOM
3. 2026-06-14
   days on market $80,000 Active 32 DOM
4. 2026-06-13
   days on market $80,000 Active 31 DOM
5. 2026-06-10
   days on market $80,000 Active 29 DOM
6. 2026-06-09
   days on market $80,000 Active 28 DOM
7. 2026-06-08
   days on market $80,000 Active 27 DOM
8. 2026-06-07
   days on market $80,000 Active 26 DOM
9. 2026-06-03
   days on market $80,000 Active 22 DOM
10. 2026-06-02
    days on market $80,000 Active 21 DOM
11. 2026-06-01
    days on market $80,000 Active 20 DOM
12. 2026-05-31
    days on market $80,000 Active 19 DOM
13. 2026-05-31
    days on market $80,000 Active 18 DOM
14. 2026-05-12
    listed $80,000 Active
15. 2008-04-08
    soldstatus $102,000
16. 2008-04-07
    soldstatus $102,000 206-char remark

    Show marketing remark (206 chars)

    GREAT STARTER OR GET-AWAY HOME! 3 bedrooms , 1 bath on 1 acre with breathtaking views of pastures and long range mountain views, garden spot and lots of trees in private location , neat and clean as can be!

17. 2007-09-13
    listed $117,000 206-char remark

    Show marketing remark (206 chars)

    GREAT STARTER OR GET-AWAY HOME! 3 bedrooms , 1 bath on 1 acre with breathtaking views of pastures and long range mountain views, garden spot and lots of trees in private location , neat and clean as can be!

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $736 · $61/mo
• Expected delta: +$327/yr (+$27/mo · 79.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 9 d/yr ≥93°F today · 26 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,419
• − Mortgage interest: −$4,481
• − Property taxes: −$409
• − Insurance: −$400
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$2,327
• Taxable income: $7,014
• Est. tax owed @ 24.0%: −$1,683
• After-tax cash flow: $6,234/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: Clay County Schools
• NCES district ID: 3700870
• Math proficiency: 47% ▲ 5.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $37,205
• Composite: 40.31/100
• National rank: #3751
• State rank: #73 of 178 in NC

Livability — Hiawassee

• Score: 77/100
• State rank: #22
• US rank: #3192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,614

Population outlook (Clay County) Hauer SSP2

• Today (2025): 10,855 people
• By 2030: 10,820 · -0.3%
• By 2040: 10,527 · -3.0%
• By 2050: 10,099 · -7.0%
• By 2075: 9,094 · -16.2%
• By 2100: 7,834 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 6% Slovak 3% Lithuanian 1%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+50.1) · D 24.6% · R 74.7%
• 2008→2024 swing: -14.5pp toward R · 2008: -35.6pp · 2024: -50.1pp
• All cycles: 2024: R+50.1 2020: R+49.5 2016: R+51.7 2012: R+42.5 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.24%
• Current HPI: 338.2524
• 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

-31.6% since first listed

4 events — show timeline

• 2026-05-12 Listed $80,000 FSBO.com
• 2008-04-08 Sold (Public Records) $102,000 Public Records
• 2008-04-07 Sold (MLS) $102,000 NEGBOR
• 2007-09-13 Listed $117,000 NEGBOR

Property tax history

+3.1%/yr

Latest (2025): $409 · +32.3% YoY. Source: county tax records.