108 Forge Mill Estates Dr · Morganton, GA 30560

$260,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily · 97 Days on market

Built 2005 Good condition 1.66 ac lot $155/sqft · 25% below area Est $346k · 25% under

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away on two lots overlooking small stream, this listing has 1.66 acres in the North Georgia mountains. This charming 3-bedroom, 2-bath home offers the perfect blend of privacy and convenience—just 10 minutes from downtown Blue Ridge. Enjoy easy access to shopping, dining, and outdoor recreation while still having your own peaceful retreat. Inside, you'll find a functional single-level layout with durable wood-look laminate flooring throughout the main living areas. The cozy living room features a beautiful stacked stone gas log fireplace, creating a warm and inviting focal point.

Key facts

• Covered front porch
• Private wooded lot
• Ample cabinet space

Tags

• PRIVATE WOODED LOT
• COVERED FRONT PORCH
• AMPLE CABINET SPACE
• EASY ACCESS TO SHOPPING
• CONVENIENT ACCESS TO HWY 515

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $237k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: East Fannin Elementary School (math 42% / reading 32%, grade F, #485 of 1,228 statewide, top 41%, 415 students, 63% 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 53% 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).
• At $2,771/mo this rent would consume 59% of the median local household income ($56k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $260k implies a 1006% gain — meaningful room to come down on a strong offer.

Recommended offer $236,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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 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. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $346,271
• List price: $260,000
• Delta: -24.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Forge Mill Rd	0.16mi	4/2.0 (+1)	1,544 (-8%)	17mo	$415,000	$269	60
7581 Old Hwy 76	0.84mi	3/2.0	1,760 (+5%)	0mo	$320,000	$182	57
82 Dawgs Dr	0.63mi	3/1.5	1,536 (-9%)	2mo	$320,000	$208	52
37 Lakeview Cir	0.41mi	3/2.0	1,488 (-11%)	16mo	$290,000	$195	48
51 Ridgeview Rd	0.93mi	3/2.0	1,728 (+3%)	15mo	$447,900	$259	48
255 Loving Rd	1.08mi	4/3.0 (+1)	1,702 (+1%)	9mo	$405,000	$238	46
12021 Old Hwy 76	0.78mi	3/3.0	1,800 (+7%)	12mo	$570,000	$317	39
95 Oak Cliff Ln	0.94mi	3/3.0	2,004 (+19%)	0mo	$680,000	$339	36
9340 Old Hwy 76	1.05mi	3/1.0	1,444 (-14%)	4mo	$215,000	$149	34
614 Lakeview Cir	0.64mi	3/2.0	1,452 (-14%)	18mo	$362,000	$249	32
169 East St	1.02mi	3/2.0	1,386 (-18%)	10mo	$245,000	$177	32
68 Mallard Point Rd	0.96mi	3/3.0	1,482 (-12%)	13mo	$690,000	$466	30

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: -6.3%
• Equity multiple: 0.76×
• Total profit: $-17,124
• Equity at exit: $38,767

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $17,406
• Equity at exit: $22,480

Cash invested: $72,800 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 3 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $461,950 ($270/sqft)
• Median days on market: 21 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -23.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 30560

• Home prices YoY: -9.6%
• Active inventory: 377
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,771 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $392

Break-even live

Break-even rent $2,274

Max offer price $260,000

Occupancy floor 81%

Sensitivity live

Price	-10% $572	-5% $482	+0% $392	+5% $302	+10% $212
Rent	-10% $173	-5% $283	+0% $392	+5% $501	+10% $611
Rate	-1.0pp $523	-0.5pp $458	base $392	+0.5pp $325	+1.0pp $256

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: $65,000
• Closing costs: $7,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Located in the Forge Mill Estates subdivision
• HOA & community: Annual association fee

Exterior

• Parking: Driveway with gravel parkingOpen parking available
• Utilities: Public waterSeptic sewer
• Home design: Single-level homeMobile homeResale conditionBuilt in 2005Vinyl sidingShingle roof
• Construction: Vinyl siding constructionShingle roofBuilt in 2005
• Exterior features: Front covered porchPrivate yardPaved road accessSloping topographyHas a view

Interior

• Kitchen: RefrigeratorRangeDishwasher
• Bedrooms: Primary bedroom on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Ceiling fansGas log vented fireplace (1)
• Laundry & utility: Laundry on the main level

Listing history 45 events

1. 2026-08-08
   days on market $260,000 Active 97 DOM
2. 2026-08-07
   statusdays on market $260,000 Active 96 DOM
3. 2026-07-22
   status $260,000 Pending 95 DOM
4. 2026-07-21
   days on market $260,000 Active 95 DOM
5. 2026-07-18
   days on market $260,000 Active 92 DOM
6. 2026-07-16
   days on market $260,000 Active 90 DOM
7. 2026-07-16
   days on market $260,000 Active 89 DOM
8. 2026-07-14
   days on market $260,000 Active 88 DOM
9. 2026-07-13
   days on market $260,000 Active 87 DOM
10. 2026-07-12
    days on market $260,000 Active 86 DOM
11. 2026-07-11
    days on market $260,000 Active 85 DOM
12. 2026-07-10
    days on market $260,000 Active 84 DOM
13. 2026-07-09
    days on market $260,000 Active 83 DOM
14. 2026-07-07
    days on market $260,000 Active 81 DOM
15. 2026-07-06
    days on market $260,000 Active 80 DOM
16. 2026-07-05
    days on market $260,000 Active 79 DOM
17. 2026-07-04
    days on market $260,000 Active 78 DOM
18. 2026-07-03
    price $260,000 Active 77 DOM
19. 2026-07-03
    days on market $275,000 Active 77 DOM
20. 2026-07-02
    statusdays on market $275,000 Active 76 DOM
21. 2026-06-28
    status $275,000 Pending 75 DOM
22. 2026-06-28
    days on market $275,000 Active 75 DOM
23. 2026-06-28
    days on market $275,000 Active 74 DOM
24. 2026-06-27
    days on market $275,000 Active 73 DOM
25. 2026-06-25
    days on market $275,000 Active 71 DOM
26. 2026-06-23
    days on market $275,000 Active 69 DOM
27. 2026-06-21
    days on market $275,000 Active 68 DOM
28. 2026-06-18
    days on market $275,000 Active 65 DOM
29. 2026-06-17
    days on market $275,000 Active 64 DOM
30. 2026-06-16
    days on market $275,000 Active 63 DOM
31. 2026-06-15
    days on market $275,000 Active 62 DOM
32. 2026-06-14
    pricedays on market $275,000 Active 60 DOM
33. 2026-06-13
    days on market $299,000 Active 59 DOM
34. 2026-06-10
    days on market $299,000 Active 57 DOM
35. 2026-06-09
    days on market $299,000 Active 56 DOM
36. 2026-06-08
    days on market $299,000 Active 55 DOM
37. 2026-06-07
    days on market $299,000 Active 54 DOM
38. 2026-06-05
    days on market $299,000 Active 51 DOM
39. 2026-06-03
    days on market $299,000 Active 50 DOM
40. 2026-06-02
    days on market $299,000 Active 49 DOM
41. 2026-06-01
    days on market $299,000 Active 48 DOM
42. 2026-05-31
    days on market $299,000 Active 47 DOM
43. 2026-05-31
    days on market $299,000 Active 46 DOM
44. 2026-04-14
    listed $299,000 Active 1213-char remark
45. 2005-05-02
    soldstatus $23,500

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,247
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,660
• − Management: −$2,660
• − Depreciation: −$7,564
• Taxable income: $600
• Est. tax owed @ 24.0%: −$144
• After-tax cash flow: $4,560/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $8,400–$25,200 screening

This charming 3-bedroom, 2-bath home is in good condition with a functional single-level layout and a well-maintained exterior. It offers a perfect blend of privacy and convenience, making it an excellent investment opportunity.

Components & finishes AI

Roof tile · good Flooring carpet

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear

Value-add opportunities

• Resale Paint the exterior siding — A fresh coat of paint can significantly enhance the curb appeal and resale value of the home. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve both the resale and rental value by making the property more attractive. ↑

ⓘ 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 39/100

Zoned Schools

Elementary East Fannin Elementary School F GA #485/1,228 Nat'l #21,438/41,679 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: Located in the Forge Mill Estates subdivision
• HOA & community: Annual association fee

Exterior

• Parking: Driveway with gravel parkingOpen parking available
• Utilities: Public waterSeptic sewer
• Home design: Single-level homeMobile homeResale conditionBuilt in 2005Vinyl sidingShingle roof
• Construction: Vinyl siding constructionShingle roofBuilt in 2005
• Exterior features: Front covered porchPrivate yardPaved road accessSloping topographyHas a view

Interior

• Kitchen: RefrigeratorRangeDishwasher
• Bedrooms: Primary bedroom on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Ceiling fansGas log vented fireplace (1)
• Laundry & utility: Laundry on the main level

Price history

+1070.2% since first listed

4 events — show timeline

• 2026-06-28 Pending — NEGBOR
• 2026-06-13 Price Changed $275,000 NEGBOR
• 2026-04-14 Listed $299,000 NEGBOR
• 2005-05-02 Sold (Public Records) $23,500 Public Records

Property tax history

-12.4%/yr

Latest (2025): $111 · -1.0% YoY. Source: county tax records.