166 Mountain Meadows Dr · Morganton, GA 30560

$229,000

2 bd · 1.0 ba · 507 sqft · SingleFamily · 23 Days on market

Built 2020 Good condition 3,920 sqft lot $452/sqft · at area comps Est $237k · at est. $100/mo HOA · 5% of rent ↓ 12% since listing

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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 +12.6/30.0
• ARV discount +9.1/15.0
• 1% rule +4.1/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ever dreamed of trading the daily grind for a stylish waterfront retreat? This isn't just a tiny home; it's a mountain sanctuary tucked away in the gated Waterside at Blue Ridge community. Inside, every inch is intentional and honestly, pretty stunning. You've got a primary bedroom on the main floor, a sleek kitchen for whipping up brunch, and a flexible bonus room with a Murphy bed that's perfect for whenever you need it. There's even a loft for extra space and a massive deck that's basically a front-row seat to the pond. When you aren't lounging on the deck, you can hit the clubhouse, take a dip in the pool or hot tub, or unwind by the fire pits. Whether you're hunting for your own weekend escape or a sharp rental investment, this North Georgia gem is ready to welcome you home.

Key facts

• Gated community
• Clubhouse
• Mountain sanctuary

Tags

• WATERFRONT RETREAT
• MOUNTAIN SANCTUARY
• GATED COMMUNITY
• FLEXIBLE BONUS ROOM
• MASSIVE DECK
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $229k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-27 ($-328/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (8.5% below list).
• Recommended offer: $210k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 2.7% in Morganton — 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 57/100 on livability (#456 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime D-, amenities F.
• Fannin County (rural): math 40% / reading 39% proficiency, ranked #51 of 174 in GA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blue Ridge Elementary School (math 47% / reading 32%, grade F, #435 of 1,228 statewide, top 37%, 426 students, 51% FRL); Fannin County Middle School (math 41% / reading 43%, grade D-, #126 of 470 statewide, top 28%, 619 students, 53% FRL); Fannin County High School (math 27% / reading 47%, grade F, #68 of 424 statewide, top 17%, 900 students, 44% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 377 active listings in the ZIP; 375 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 8 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.

Recommended offer $209,526 (8.5% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• GRM: 9.1

CMA / ARV

• ARV (median comp): $237,443
• List price: $229,000
• Delta: 0.66%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
L42 Mountain Meadows Cir	0.07mi	1/1.0 (-1)	400 (-21%)	6mo	$240,000	$600	61
167 Mountain Meadows Cir	0.00mi	1/1.0 (-1)	396 (-22%)	13mo	$230,000	$581	59
LOT 124 Mountain Meadows Rd	0.13mi	1/1.0 (-1)	542 (+7%)	47mo	$219,000	$404	58
694 Misty Mountain Trl	1.69mi	2/1.0	580 (+14%)	6mo	$370,000	$638	36
320 Misty Mountain Trl	1.85mi	1/1.0 (-1)	440 (-13%)	53mo	$515,000	$1,170	18

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.1%
• Equity multiple: 0.40×
• Total profit: $-38,754
• Equity at exit: $34,145

10-year hold

• IRR: -8.9%
• Equity multiple: 0.44×
• Total profit: $-35,608
• Equity at exit: $19,800

Cash invested: $64,120 (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 30560

• Home prices YoY: -9.6%
• Active inventory: 377
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,095 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$100
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-27

Break-even live

Break-even rent $2,130

Max offer price $225,048

Occupancy floor 96%

Sensitivity live

Price	-10% $131	-5% $52	+0% $-27	+5% $-106	+10% $-186
Rent	-10% $-193	-5% $-110	+0% $-27	+5% $55	+10% $138
Rate	-1.0pp $88	-0.5pp $31	base $-27	+0.5pp $-87	+1.0pp $-147

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: $57,250
• Closing costs: $6,870
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Clubhouse and community amenities includedListing terms: Cash or Conventional
• HOA & community: Has associationAssociation fee $1,200 (covers grounds maintenance, private roads, security, sewer, pool, trash, other)Community clubhouse, playground, and pool

Exterior

• Parking: Parking pad (open parking)
• Security: Gated communityCommunity security included in association
• Utilities: Shared well waterPublic sewerHigh-speed internet available
• Home design: Manufactured single-family residenceOne and one-half levelsResale property
• Construction: Built in 2020Wood sidingMetal roofPillar/post/pier foundation
• Exterior features: DeckLevel lotLakefront frontage with pond

Interior

• Kitchen: CooktopDishwasherMicrowaveRefrigerator
• Bedrooms: 2 bedrooms (1 on main level)
• Flooring: Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heatingCentral airCeiling fan(s)
• Interior features: High ceilingsFireplace (1)
• Laundry & utility: WasherDryerLaundry located in hall and in kitchen

HOA detail $100/mo · $1,200/yr

• Likely covers: waterpoolsecurity

Listing history 29 events

1. 2026-08-08
   days on market $229,000 Active 23 DOM
2. 2026-08-07
   days on market $229,000 Active 22 DOM
3. 2026-08-06
   days on market $229,000 Active 21 DOM
4. 2026-08-05
   days on market $229,000 Active 20 DOM
5. 2026-08-04
   days on market $229,000 Active 19 DOM
6. 2026-08-03
   days on market $229,000 Active 18 DOM
7. 2026-07-31
   days on market $229,000 Active 15 DOM
8. 2026-07-30
   statusdays on market $229,000 Active 14 DOM
9. 2026-07-29
   days on market $229,000 New 13 DOM
10. 2026-07-27
    days on market $229,000 New 11 DOM
11. 2026-07-25
    days on market $229,000 New 9 DOM
12. 2026-07-24
    days on market $229,000 New 8 DOM
13. 2026-07-23
    days on market $229,000 New 7 DOM
14. 2026-07-22
    days on market $229,000 New 6 DOM
15. 2026-07-21
    days on market $229,000 New 5 DOM
16. 2026-07-18
    days on market $229,000 New 2 DOM
17. 2026-07-16
    pricestatusdays on marketlisting id $229,000 New 1 DOM

    Show marketing remark (790 chars)

    Ever dreamed of trading the daily grind for a stylish waterfront retreat? This isn't just a tiny home; it's a mountain sanctuary tucked away in the gated Waterside at Blue Ridge community. Inside, every inch is intentional and honestly, pretty stunning. You've got a primary bedroom on the main floor, a sleek kitchen for whipping up brunch, and a flexible bonus room with a Murphy bed that's perfect for whenever you need it. There's even a loft for extra space and a massive deck that's basically a front-row seat to the pond. When you aren't lounging on the deck, you can hit the clubhouse, take a dip in the pool or hot tub, or unwind by the fire pits. Whether you're hunting for your own weekend escape or a sharp rental investment, this North Georgia gem is ready to welcome you home.

18. 2026-02-07
    listed $239,000 New 825-char remark

    Show marketing remark (790 chars)

    Ever dreamed of trading the daily grind for a stylish waterfront retreat? This isn't just a tiny home; it's a mountain sanctuary tucked away in the gated Waterside at Blue Ridge community. Inside, every inch is intentional and honestly, pretty stunning. You've got a primary bedroom on the main floor, a sleek kitchen for whipping up brunch, and a flexible bonus room with a Murphy bed that's perfect for whenever you need it. There's even a loft for extra space and a massive deck that's basically a front-row seat to the pond. When you aren't lounging on the deck, you can hit the clubhouse, take a dip in the pool or hot tub, or unwind by the fire pits. Whether you're hunting for your own weekend escape or a sharp rental investment, this North Georgia gem is ready to welcome you home.

19. 2026-02-07
    listed $239,000 Active 831-char remark

    Show marketing remark (790 chars)

    Ever dreamed of trading the daily grind for a stylish waterfront retreat? This isn't just a tiny home; it's a mountain sanctuary tucked away in the gated Waterside at Blue Ridge community. Inside, every inch is intentional and honestly, pretty stunning. You've got a primary bedroom on the main floor, a sleek kitchen for whipping up brunch, and a flexible bonus room with a Murphy bed that's perfect for whenever you need it. There's even a loft for extra space and a massive deck that's basically a front-row seat to the pond. When you aren't lounging on the deck, you can hit the clubhouse, take a dip in the pool or hot tub, or unwind by the fire pits. Whether you're hunting for your own weekend escape or a sharp rental investment, this North Georgia gem is ready to welcome you home.

20. 2025-09-19
    listed $248,000 Active
21. 2025-05-26
    listed $250,000 Active
22. 2022-06-17
    status Under Contract
23. 2022-06-15
    historical
24. 2022-04-29
    price $239,900
25. 2022-04-29
    status Back On Market
26. 2022-04-25
    status Under Contract
27. 2022-04-15
    price $249,900
28. 2022-04-01
    price $254,900
29. 2022-02-28
    listed $259,900 New

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

Taxation est. · year 1

• Rental income: $25,143
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − HOA: −$1,200
• − Depreciation: −$6,662
• Taxable loss: −$4,149
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $668/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $2,535–$7,605 screening

This charming tiny home in the Blue Ridge Mountains is in good condition with a good rehab level, ready for minor updates to enhance its curb appeal and marketability.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace deck boards — Maintains structural integrity and enhances curb appeal ↑
• Resale Upgrade kitchen appliances — Modernizes kitchen and appeals to buyers ↑
• Both Install smart home features — Enhances convenience and marketability ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Blue Ridge Elementary School F GA #435/1,228 Nat'l #19,648/41,679 Middle Fannin County Middle School D- GA #126/470 Nat'l #5,398/14,009 High Fannin County High School F GA #68/424 Nat'l #9,001/17,239

Schools (NCES district)

• District: Fannin County
• NCES district ID: 1302100
• Math proficiency: 40% ▼ -7.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $37,693
• Composite: 32.92/100
• National rank: #5597
• State rank: #51 of 174 in GA

D Composite livability gradescore 57/100

Livability — Morganton

• Score: 57/100
• State rank: #456
• US rank: #21670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fannin · 25,218 people
• Population (ZIP): 4,194
• Household income: $56,391
• Rent vs Own: 15.0% rent · 85.0% own
• Severe rent burden: 9% of renters

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Population outlook (Fannin County) Hauer SSP2

• Today (2025): 25,218 people
• By 2030: 25,519 · +1.2%
• By 2040: 25,548 · +1.3%
• By 2050: 25,008 · -0.8%
• By 2075: 23,359 · -7.4%
• By 2100: 20,129 · -20.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Scottish 3% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

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Political lean MEDSL · Fannin

• 2024 margin: Solid R (+64.8) · D 17.4% · R 82.2%
• 2008→2024 swing: -15.7pp toward R · 2008: -49.1pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+64.6 2016: R+65.5 2012: R+58.2 2008: R+49.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.58%
• Current HPI: 316.822
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.66%
• F500 in state: 28

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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

Property features AI

Finance

• Other: Clubhouse and community amenities includedListing terms: Cash or Conventional
• HOA & community: Has associationAssociation fee $1,200 (covers grounds maintenance, private roads, security, sewer, pool, trash, other)Community clubhouse, playground, and pool

Exterior

• Parking: Parking pad (open parking)
• Security: Gated communityCommunity security included in association
• Utilities: Shared well waterPublic sewerHigh-speed internet available
• Home design: Manufactured single-family residenceOne and one-half levelsResale property
• Construction: Built in 2020Wood sidingMetal roofPillar/post/pier foundation
• Exterior features: DeckLevel lotLakefront frontage with pond

Interior

• Kitchen: CooktopDishwasherMicrowaveRefrigerator
• Bedrooms: 2 bedrooms (1 on main level)
• Flooring: Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central heatingCentral airCeiling fan(s)
• Interior features: High ceilingsFireplace (1)
• Laundry & utility: WasherDryerLaundry located in hall and in kitchen

Price history

-11.9% since first listed

16 events — show timeline

• 2026-07-16 Relisted — NEGBOR
• 2026-07-16 Price Changed $229,000 NEGBOR
• 2026-07-16 Listed $229,000 GAMLS
• 2026-05-26 Listing Removed — GAMLS
• 2026-02-07 Listed $239,000 GAMLS
• 2026-02-07 Listed $239,000 NEGBOR
• 2025-09-19 Listed $248,000 NEGBOR
• 2025-05-26 Listed $250,000 NEGBOR
• 2022-06-17 Pending — GAMLS
• 2022-06-15 Listing Removed — GAMLS
• 2022-04-29 Price Changed $239,900 GAMLS
• 2022-04-29 Relisted — GAMLS
• 2022-04-25 Pending — GAMLS
• 2022-04-15 Price Changed $249,900 GAMLS
• 2022-04-01 Price Changed $254,900 GAMLS
• 2022-02-28 Listed $259,900 GAMLS