4578 Noah Martin Rd · Lula, GA 30554

$120,000

2 bd · 1.0 ba · 1,252 sqft · SingleFamily public records · 10 Days on market

Built 1968 0.73 ac lot $96/sqft · 60% below area ↓ 18% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Opportunity on a Spacious .73 Acre Lot! Discover the potential in this 2-bedroom, 1-bath single wide mobile home set on a permanent foundation. Situated on a level 0.73-acre lot, this property offers plenty of room to expand, garden, or simply enjoy the open space. This home is truly a diamond in the rough-perfect for investors, renovators, or buyers looking to create their own vision. With a little TLC, this property could shine! Out back, you'll find a detached shop area, ideal for storage, hobbies, or a workspace. The flat terrain makes access easy and adds to the usability of the land. Whether you're looking for a project, a rental opportunity, or a place to make your own, this property is full of possibilities. Don't miss your chance to unlock its potential!

Key facts

• Level lot
• Spacious lot
• Detached shop area

Tags

• SPACIOUS LOT
• DETACHED SHOP AREA
• LEVEL LOT
• FLAT TERRAIN

Property features AI

Exterior

• Parking: Driveway and parking pad; 2 total parking spaces; Open parking available
• Utilities: Well water; Septic tank; Electric service with 110V and 220V available; Water and electricity available to the property
• Home design: Single-wide mobile home; One level; Resale condition; Metal roof; Block foundation
• Construction: Frame construction with wood siding; Metal roof
• Exterior features: Front porch; Outbuilding on the property; Gravel road frontage on a county road

Interior

• Kitchen: Cabinets (other)
• Bedrooms: 2 bedrooms on the main level; Primary bedroom on the main level
• Flooring: Other flooring
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning
• Interior features: No shared/common walls; Crawl space foundation
• Laundry & utility: Laundry area with 220V outlet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 12.5% vs local median 3.3% in Lula — 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 68/100 on livability (#130 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Hall County (rural): math 28% / reading 33% proficiency, ranked #81 of 174 in GA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Hall Middle School (math 15% / reading 20%, grade F, #377 of 470 statewide, top 81%, 909 students, 78% FRL); East Hall High School (math 12% / reading 33%, grade F, #210 of 424 statewide, top 50%, 1,330 students, 66% FRL) — zoned schools average 72% FRL vs 53% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 99 active listings in the ZIP; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $98k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.41% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.17%
• DSCR: 1.99
• GRM: 5.9

CMA / ARV

• ARV (median comp): $298,706
• List price: $120,000
• Delta: -59.83%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4578 Noah Martin Rd	0.00mi	2/1.0	1,252 (0%)	1mo	$98,000	$78	99
4539 Old Cornelia Hwy	0.65mi	3/1.0 (+1)	1,288 (+3%)	20mo	$232,000	$180	43
4067 Country Ln	0.73mi	3/2.0 (+1)	1,334 (+6%)	20mo	$295,000	$221	29
4072 Country Ln	0.68mi	3/2.0 (+1)	1,109 (-11%)	18mo	$300,000	$271	25

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: 14.9%
• Equity multiple: 1.60×
• Total profit: $20,044
• Equity at exit: $17,892

10-year hold

• IRR: 23.6%
• Equity multiple: 3.03×
• Total profit: $68,185
• Equity at exit: $10,375

Cash invested: $33,600 (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 30554

• Home prices YoY: -12.4%
• Active inventory: 99
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,696 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $621

Break-even live

Break-even rent $910

Max offer price $120,000

Occupancy floor 58%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-11
   status Pending 811-char remark

   Show marketing remark (787 chars)

   Charming Opportunity on a Spacious .73 Acre Lot! Discover the potential in this 2-bedroom, 1-bath single wide mobile home set on a permanent foundation. Situated on a level 0.73-acre lot, this property offers plenty of room to expand, garden, or simply enjoy the open space. This home is truly a diamond in the rough-perfect for investors, renovators, or buyers looking to create their own vision. With a little TLC, this property could shine! Out back, you'll find a detached shop area, ideal for storage, hobbies, or a workspace. The flat terrain makes access easy and adds to the usability of the land. Whether you're looking for a project, a rental opportunity, or a place to make your own, this property is full of possibilities. Don't miss your chance to unlock its potential!

2. 2026-05-11
   status Under Contract 787-char remark

   Show marketing remark (787 chars)

   Charming Opportunity on a Spacious .73 Acre Lot! Discover the potential in this 2-bedroom, 1-bath single wide mobile home set on a permanent foundation. Situated on a level 0.73-acre lot, this property offers plenty of room to expand, garden, or simply enjoy the open space. This home is truly a diamond in the rough-perfect for investors, renovators, or buyers looking to create their own vision. With a little TLC, this property could shine! Out back, you'll find a detached shop area, ideal for storage, hobbies, or a workspace. The flat terrain makes access easy and adds to the usability of the land. Whether you're looking for a project, a rental opportunity, or a place to make your own, this property is full of possibilities. Don't miss your chance to unlock its potential!

3. 2026-05-01
   listed $120,000 Active 811-char remark

   Show marketing remark (787 chars)

   Charming Opportunity on a Spacious .73 Acre Lot! Discover the potential in this 2-bedroom, 1-bath single wide mobile home set on a permanent foundation. Situated on a level 0.73-acre lot, this property offers plenty of room to expand, garden, or simply enjoy the open space. This home is truly a diamond in the rough-perfect for investors, renovators, or buyers looking to create their own vision. With a little TLC, this property could shine! Out back, you'll find a detached shop area, ideal for storage, hobbies, or a workspace. The flat terrain makes access easy and adds to the usability of the land. Whether you're looking for a project, a rental opportunity, or a place to make your own, this property is full of possibilities. Don't miss your chance to unlock its potential!

4. 2026-05-01
   listed $120,000 New 787-char remark

   Show marketing remark (787 chars)

   Charming Opportunity on a Spacious .73 Acre Lot! Discover the potential in this 2-bedroom, 1-bath single wide mobile home set on a permanent foundation. Situated on a level 0.73-acre lot, this property offers plenty of room to expand, garden, or simply enjoy the open space. This home is truly a diamond in the rough-perfect for investors, renovators, or buyers looking to create their own vision. With a little TLC, this property could shine! Out back, you'll find a detached shop area, ideal for storage, hobbies, or a workspace. The flat terrain makes access easy and adds to the usability of the land. Whether you're looking for a project, a rental opportunity, or a place to make your own, this property is full of possibilities. Don't miss your chance to unlock its potential!

ⓘ 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: $478 · $40/mo
• Projected year-2 tax: $1,104 · $92/mo
• Expected delta: +$626/yr (+$52/mo · 131.0%)

ⓘ 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 ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,351
• − Mortgage interest: −$6,722
• − Property taxes: −$478
• − Insurance: −$600
• − Repairs & maintenance: −$1,628
• − Management: −$1,628
• − Depreciation: −$3,491
• Taxable income: $5,804
• Est. tax owed @ 24.0%: −$1,393
• After-tax cash flow: $6,055/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: Hall County
• NCES district ID: 1302610
• Math proficiency: 28% ▼ -12.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $55,708
• Composite: 27.15/100
• National rank: #7029
• State rank: #81 of 174 in GA

Livability — Lula

• Score: 68/100
• State rank: #130
• US rank: #9112

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,167
• Population (ZIP): 9,167

Population outlook (Hall County) Hauer SSP2

• Today (2025): 225,275 people
• By 2030: 240,204 · +6.6%
• By 2040: 268,440 · +19.2%
• By 2050: 293,596 · +30.3%
• By 2075: 350,293 · +55.5%
• By 2100: 389,329 · +72.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 9% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+43.8) · D 27.8% · R 71.6%
• 2008→2024 swing: +7.1pp toward D · 2008: -50.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+43.2 2016: R+50.7 2012: R+56.4 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.65%
• Current HPI: 338.0206
• 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

-18.3% since first listed

7 events — show timeline

• 2026-05-22 Sold (Public Records) $98,000 Public Records
• 2026-05-21 Sold (MLS) $98,000 GAMLS
• 2026-05-21 Sold (MLS) $98,000 FMLS
• 2026-05-11 Pending — FMLS
• 2026-05-11 Pending — GAMLS
• 2026-05-01 Listed $120,000 GAMLS
• 2026-05-01 Listed $120,000 FMLS

Property tax history

+0.6%/yr

Latest (2025): $478 · -7.7% YoY. Source: county tax records.