460 Mount Olivet Rd

Hartwell, GA 30643

$213,000F

3 bd · 2.0 ba · 1,232 sqft · Built 2024 · Manufactured · Active · 160 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,190/mo
• Mortgage (P&I): −$1,117
• Tax + insurance: −$355
• HOA: −$0
• Vac / Maint / Mgmt: −$250
• Net cashflow: $-532/mo
• Annual: $-6,382/yr
• Cap rate: 3.30%
• Cash-on-cash: -10.70%
• DSCR: 0.52
• 1% rule: 0.56%
• Cash to close: $59,640

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $213k. Condition is rated good.
• At list price, monthly cash flow is $-532 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (36.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (44.1% below list).
• It's been on market 160 days — a 12% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (44.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#342 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: housing C-, health & safety C-, crime D.
• Hart County (town): math 32% / reading 33% proficiency, ranked #82 of 174 in GA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Hart Elementary School (math 38% / reading 35%, grade F, #509 of 1,228 statewide, top 42%, 656 students, 57% FRL); Hart County Middle School (math 34% / reading 37%, grade F, #185 of 470 statewide, top 40%, 816 students, 60% FRL); Hart County High School (math 18% / reading 17%, grade F, #264 of 424 statewide, top 63%, 1,077 students, 49% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 467 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 170 units permitted in Hart County in 2024 (8 in 5+ unit buildings).
• Hart County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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

• 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?
• It's been on market 160 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.