132 Quarles Ln · Ellijay, GA 30540

$179,000

3 bd · 2.0 ba · 868 sqft · SingleFamily public records · 70 Days on market

Built 1989 2.42 ac lot $206/sqft · 53% above area Est $227k · 21% under

---

Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• 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

Investment Opportunity on 2.42 Acres with Multiple Structures Unlock the potential of this unique 2.42-acre property, ideal for investors or those seeking a versatile real estate opportunity. This parcel features two residential dwellings (1989 Fleetwood double wide mobile home, not retired with property & 1968 home) along with six separate storage buildings, offering a wide range of possible uses. Please note: Only one dwelling may be occupied at a time under current county regulations. However, there is significant upside for the right buyer—the property may allow for dual occupancy if subdivided and approved by the county, presenting a valuable value-add opportunity. Whether you're looking to renovate, generate rental income, create a live/work setup, or explore future development potential, this property provides flexibility and room to grow. 116 Quarles Lane to access Mobile home, 132 (county records) Quarles Lane is the 2nd dwelling that is used for storage.

Key facts

• Multiple structures
• 2.42 acres
• 2.42 acre lot

Tags

• 2.42 ACRES
• MULTIPLE STRUCTURES
• TWO RESIDENTIAL DWELLINGS
• SIX SEPARATE STORAGE BUILDINGS
• DUAL OCCUPANCY POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $148k (17.6% below list).
• Recommended offer: $148k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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; 2 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 $1k of loan paydown is wiped out by about $5k 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 70 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $26k; list at $179k implies a 602% gain — meaningful room to come down on a strong offer.

Recommended offer $147,500 (17.6% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 18% 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. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.87%
• DSCR: 1.13
• GRM: 10.1

CMA / ARV

• ARV (median comp): $227,000
• List price: $179,000
• Delta: -21.15%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-21,472
• Equity at exit: $26,689

10-year hold

• IRR: -2.8%
• Equity multiple: 0.82×
• Total profit: $-9,261
• Equity at exit: $15,477

Cash invested: $50,120 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,475 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$32 /mo · $386/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $120

Break-even live

Break-even rent $1,323

Max offer price $179,000

Occupancy floor 87%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Sumner Top Ln Ellijay, GA	2.0	1.0	850	$1,475	$1.74	23d	1	0.39mi
137 Sumner Top Ln Ellijay, GA	2.0	1.0	850	$1,475	$1.74	2d	1	0.39mi

Listing history 9 events

1. 2026-03-19
   historical
2. 2026-03-18
   price $179,000 1000-char remark

   Show marketing remark (1000 chars)

   Investment Opportunity on 2.42 Acres with Multiple Structures Unlock the potential of this unique 2.42-acre property, ideal for investors or those seeking a versatile real estate opportunity. This parcel features two residential dwellings (1989 Fleetwood double wide mobile home, not retired with property & 1968 home) along with six separate storage buildings, offering a wide range of possible uses. Please note: Only one dwelling may be occupied at a time under current county regulations. However, there is significant upside for the right buyer—the property may allow for dual occupancy if subdivided and approved by the county, presenting a valuable value-add opportunity. Whether you're looking to renovate, generate rental income, create a live/work setup, or explore future development potential, this property provides flexibility and room to grow. 116 Quarles Lane to access Mobile home, 132 (county records) Quarles Lane is the 2nd dwelling that is used for storage.

3. 2026-03-13
   listed $179,000 New

   Show marketing remark (1000 chars)

   Investment Opportunity on 2.42 Acres with Multiple Structures Unlock the potential of this unique 2.42-acre property, ideal for investors or those seeking a versatile real estate opportunity. This parcel features two residential dwellings (1989 Fleetwood double wide mobile home, not retired with property & 1968 home) along with six separate storage buildings, offering a wide range of possible uses. Please note: Only one dwelling may be occupied at a time under current county regulations. However, there is significant upside for the right buyer—the property may allow for dual occupancy if subdivided and approved by the county, presenting a valuable value-add opportunity. Whether you're looking to renovate, generate rental income, create a live/work setup, or explore future development potential, this property provides flexibility and room to grow. 116 Quarles Lane to access Mobile home, 132 (county records) Quarles Lane is the 2nd dwelling that is used for storage.

4. 2026-03-13
   listed $179,000 New

   Show marketing remark (1000 chars)

   Investment Opportunity on 2.42 Acres with Multiple Structures Unlock the potential of this unique 2.42-acre property, ideal for investors or those seeking a versatile real estate opportunity. This parcel features two residential dwellings (1989 Fleetwood double wide mobile home, not retired with property & 1968 home) along with six separate storage buildings, offering a wide range of possible uses. Please note: Only one dwelling may be occupied at a time under current county regulations. However, there is significant upside for the right buyer—the property may allow for dual occupancy if subdivided and approved by the county, presenting a valuable value-add opportunity. Whether you're looking to renovate, generate rental income, create a live/work setup, or explore future development potential, this property provides flexibility and room to grow. 116 Quarles Lane to access Mobile home, 132 (county records) Quarles Lane is the 2nd dwelling that is used for storage.

5. 2026-03-13
   listed $179,900 Active 1000-char remark

   Show marketing remark (1000 chars)

   Investment Opportunity on 2.42 Acres with Multiple Structures Unlock the potential of this unique 2.42-acre property, ideal for investors or those seeking a versatile real estate opportunity. This parcel features two residential dwellings (1989 Fleetwood double wide mobile home, not retired with property & 1968 home) along with six separate storage buildings, offering a wide range of possible uses. Please note: Only one dwelling may be occupied at a time under current county regulations. However, there is significant upside for the right buyer—the property may allow for dual occupancy if subdivided and approved by the county, presenting a valuable value-add opportunity. Whether you're looking to renovate, generate rental income, create a live/work setup, or explore future development potential, this property provides flexibility and room to grow. 116 Quarles Lane to access Mobile home, 132 (county records) Quarles Lane is the 2nd dwelling that is used for storage.

6. 2013-11-04
   soldstatus $25,500
7. 2013-05-01
   listed $29,000
8. 2012-09-21
   soldstatus $26,000
9. 2012-07-06
   listed $29,000

ⓘ 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: $386 · $32/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: +$1,261/yr (+$105/mo · 326.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 17 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,700
• − Mortgage interest: −$10,027
• − Property taxes: −$386
• − Insurance: −$895
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$5,207
• Taxable loss: −$1,647
• Est. tax savings @ 24.0%: +$395
• After-tax cash flow: $1,833/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

+517.2% since first listed

9 events — show timeline

• 2026-03-19 Listing Removed — GAMLS
• 2026-03-18 Price Changed $179,000 FMLS
• 2026-03-13 Listed $179,900 FMLS
• 2026-03-13 Listed $179,000 GAMLS
• 2026-03-13 Listed $179,000 GAMLS
• 2013-11-04 Sold (MLS) $25,500 NEGBOR
• 2013-05-01 Listed $29,000 NEGBOR
• 2012-09-21 Sold (MLS) $26,000 NEGBOR
• 2012-07-06 Listed $29,000 NEGBOR

Property tax history

+3.6%/yr

Latest (2025): $386 · +23.9% YoY. Source: county tax records.