274 Elder Ct

Bogart, GA 30622

$260,000C-

3 bd · 2.0 ba · 1,296 sqft · Built 1984 · Manufactured · Under Contract · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,613/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$0
• Vac / Maint / Mgmt: −$549
• Net cashflow: $267/mo
• Annual: $3,208/yr
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• 1% rule: 1.00%
• Cash to close: $72,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $260k.
• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• It's been on market 54 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $252k (3.0% below list) — sets the bar for market timing.
• 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 70/100 on livability (#103 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Oconee County (rural): math 70% / reading 68% proficiency, ranked #1 of 174 in GA (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Dove Creek Elementary School (math 67% / reading 63%, grade B+, #90 of 1,228 statewide, top 8%, 668 students, 12% FRL); Malcom Bridge Middle School (math 75% / reading 70%, grade A, #10 of 470 statewide, top 2%, 1,074 students, 11% FRL); North Oconee High School (math 75% / reading 55%, grade B, #7 of 424 statewide, top 1%, 1,479 students, 10% FRL).
• Market conditions: 140 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 335 units permitted in Oconee County in 2024 (0 in 5+ unit buildings).
• Oconee County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $55k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $260k implies a 244% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.