230 Stornoway Dr #6 · Clayton, GA 30525

$278,500

3 bd · 3.0 ba · 1,338 sqft · Condo public records · 299 Days on market

Built 1981 $167/mo HOA · 8% of rent

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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 +9.7/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0

Listing remarks MLS

Don't miss this wonderful 3-bedroom, 3-bath condo located in the tranquil community of Stornoway in Clayton, Ga, set in the North GA mountains. This unit features an ample kitchen with separate dining, an oversized living room with a gas log fireplace and three beautiful windows to take in those seasonal views! And don't miss the added bonus of a screened-in porch as well as the large deck. The main floor includes the primary ensuite bedroom, secondary bedroom, full-size bath, and a laundry room. Upstairs is a third ensuite bedroom complete with a sitting area and a generous walk-in closet providing plenty of storage. This particular unit is located in the Balmoral Building, which is the ONLY Stornoway complex that features an amazing outdoor covered pavilion, with a gas grill and firepit area to enjoy and gather with family and friends to create lasting memories! This is the perfect unit for a full-time or a vacation getaway with lots of outdoor space for you and your guests. Located within minutes of downtown Clayton, in Rabun County, known as the farm-to-table capital of the state, and boasts numerous unique shops, galleries, 3 State Parks, endless hiking trails with waterfalls, horseback riding, fishing and so much more! This is a 55+ Community. Call now for your appointment!

Key facts

• Large deck
• Ample kitchen
• Screened-in porch

Tags

• AMPLE KITCHEN
• OVERSIZED LIVING ROOM
• GAS LOG FIREPLACE
• SCREENED-IN PORCH
• LARGE DECK
• PRIMARY ENSUITE BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $278k.

Deal economics

• At list price, monthly cash flow is $-184 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (11.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (25.8% below list).
• Recommended offer: $207k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.7% in Clayton — 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 66/100 on livability (#197 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D, schools F, amenities F.
• Rabun County (rural): math 42% / reading 44% proficiency, ranked #37 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 147 units permitted in Rabun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Rabun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $40k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; list at $278k implies a 99% gain — meaningful room to come down on a strong offer.

Recommended offer $206,701 (25.8% 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. It's been on market 299 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.83%
• DSCR: 0.87
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.86×
• Total profit: $-10,902
• Equity at exit: $90,431

10-year hold

• IRR: 2.4%
• Equity multiple: 1.29×
• Total profit: $22,283
• Equity at exit: $116,661

Cash invested: $77,980 (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 30525

• Home prices YoY: 0.2%
• Active inventory: 260
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,067 medium
• Mortgage (P&I): −$1,460
• Tax from tax record: −$73 /mo · $879/yr
• Insurance: −$116
• HOA: −$167
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-184

Break-even live

Break-even rent $2,300

Max offer price $246,023

Occupancy floor —

Sensitivity live

Price	-10% $-26	-5% $-105	+0% $-184	+5% $-263	+10% $-341
Rent	-10% $-347	-5% $-265	+0% $-184	+5% $-102	+10% $-21
Rate	-1.0pp $-44	-0.5pp $-113	base $-184	+0.5pp $-256	+1.0pp $-329

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: $69,625
• Closing costs: $8,355
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37 Bynum St Clayton, GA	1.0–2.0	1.0–2.0	890	$1,800	$2.02	4d	6	0.45mi
92 Bleckley Dr Clayton, GA	2.0	2.0	1081	$1,600	$1.48	22d	1	1.10mi
122 Cannon St Clayton, GA	3.0	2.0	1650	$3,250	$1.97	15d	1	1.30mi

HOA detail condo

• Monthly dues: $167 · $2,004/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-04
   days on market $278,500 Active 299 DOM
2. 2026-06-02
   days on market $278,500 Active 298 DOM
3. 2026-06-01
   days on market $278,500 Active 297 DOM
4. 2026-05-31
   days on market $278,500 Active 296 DOM
5. 2026-05-31
   days on market $278,500 Active 295 DOM
6. 2026-01-16
   price $278,500 1309-char remark

   Show marketing remark (1309 chars)

   Don't miss this wonderful 3-bedroom, 3-bath condo located in the tranquil community of Stornoway in Clayton, Ga, set in the North GA mountains. This unit features an ample kitchen with separate dining, an oversized living room with a gas log fireplace and three beautiful windows to take in those seasonal views! And don't miss the added bonus of a screened-in porch as well as the large deck. The main floor includes the primary ensuite bedroom, secondary bedroom, full-size bath, and a laundry room. Upstairs is a third ensuite bedroom complete with a sitting area and a generous walk-in closet providing plenty of storage. This particular unit is located in the Balmoral Building, which is the ONLY Stornoway complex that features an amazing outdoor covered pavilion, with a gas grill and firepit area to enjoy and gather with family and friends to create lasting memories! This is the perfect unit for a full-time or a vacation getaway with lots of outdoor space for you and your guests. Located within minutes of downtown Clayton, in Rabun County, known as the farm-to-table capital of the state, and boasts numerous unique shops, galleries, 3 State Parks, endless hiking trails with waterfalls, horseback riding, fishing and so much more! This is a 55+ Community. Call now for your appointment!

7. 2025-12-29
   price $280,000 1309-char remark

   Show marketing remark (1309 chars)

   Don't miss this wonderful 3-bedroom, 3-bath condo located in the tranquil community of Stornoway in Clayton, Ga, set in the North GA mountains. This unit features an ample kitchen with separate dining, an oversized living room with a gas log fireplace and three beautiful windows to take in those seasonal views! And don't miss the added bonus of a screened-in porch as well as the large deck. The main floor includes the primary ensuite bedroom, secondary bedroom, full-size bath, and a laundry room. Upstairs is a third ensuite bedroom complete with a sitting area and a generous walk-in closet providing plenty of storage. This particular unit is located in the Balmoral Building, which is the ONLY Stornoway complex that features an amazing outdoor covered pavilion, with a gas grill and firepit area to enjoy and gather with family and friends to create lasting memories! This is the perfect unit for a full-time or a vacation getaway with lots of outdoor space for you and your guests. Located within minutes of downtown Clayton, in Rabun County, known as the farm-to-table capital of the state, and boasts numerous unique shops, galleries, 3 State Parks, endless hiking trails with waterfalls, horseback riding, fishing and so much more! This is a 55+ Community. Call now for your appointment!

8. 2025-09-22
   price $299,000 1309-char remark

   Show marketing remark (1309 chars)

   Don't miss this wonderful 3-bedroom, 3-bath condo located in the tranquil community of Stornoway in Clayton, Ga, set in the North GA mountains. This unit features an ample kitchen with separate dining, an oversized living room with a gas log fireplace and three beautiful windows to take in those seasonal views! And don't miss the added bonus of a screened-in porch as well as the large deck. The main floor includes the primary ensuite bedroom, secondary bedroom, full-size bath, and a laundry room. Upstairs is a third ensuite bedroom complete with a sitting area and a generous walk-in closet providing plenty of storage. This particular unit is located in the Balmoral Building, which is the ONLY Stornoway complex that features an amazing outdoor covered pavilion, with a gas grill and firepit area to enjoy and gather with family and friends to create lasting memories! This is the perfect unit for a full-time or a vacation getaway with lots of outdoor space for you and your guests. Located within minutes of downtown Clayton, in Rabun County, known as the farm-to-table capital of the state, and boasts numerous unique shops, galleries, 3 State Parks, endless hiking trails with waterfalls, horseback riding, fishing and so much more! This is a 55+ Community. Call now for your appointment!

9. 2025-08-22
   price $309,000 1309-char remark

   Show marketing remark (1309 chars)

   Don't miss this wonderful 3-bedroom, 3-bath condo located in the tranquil community of Stornoway in Clayton, Ga, set in the North GA mountains. This unit features an ample kitchen with separate dining, an oversized living room with a gas log fireplace and three beautiful windows to take in those seasonal views! And don't miss the added bonus of a screened-in porch as well as the large deck. The main floor includes the primary ensuite bedroom, secondary bedroom, full-size bath, and a laundry room. Upstairs is a third ensuite bedroom complete with a sitting area and a generous walk-in closet providing plenty of storage. This particular unit is located in the Balmoral Building, which is the ONLY Stornoway complex that features an amazing outdoor covered pavilion, with a gas grill and firepit area to enjoy and gather with family and friends to create lasting memories! This is the perfect unit for a full-time or a vacation getaway with lots of outdoor space for you and your guests. Located within minutes of downtown Clayton, in Rabun County, known as the farm-to-table capital of the state, and boasts numerous unique shops, galleries, 3 State Parks, endless hiking trails with waterfalls, horseback riding, fishing and so much more! This is a 55+ Community. Call now for your appointment!

10. 2025-08-04
    listed $319,000 New 1309-char remark

    Show marketing remark (1309 chars)

    Don't miss this wonderful 3-bedroom, 3-bath condo located in the tranquil community of Stornoway in Clayton, Ga, set in the North GA mountains. This unit features an ample kitchen with separate dining, an oversized living room with a gas log fireplace and three beautiful windows to take in those seasonal views! And don't miss the added bonus of a screened-in porch as well as the large deck. The main floor includes the primary ensuite bedroom, secondary bedroom, full-size bath, and a laundry room. Upstairs is a third ensuite bedroom complete with a sitting area and a generous walk-in closet providing plenty of storage. This particular unit is located in the Balmoral Building, which is the ONLY Stornoway complex that features an amazing outdoor covered pavilion, with a gas grill and firepit area to enjoy and gather with family and friends to create lasting memories! This is the perfect unit for a full-time or a vacation getaway with lots of outdoor space for you and your guests. Located within minutes of downtown Clayton, in Rabun County, known as the farm-to-table capital of the state, and boasts numerous unique shops, galleries, 3 State Parks, endless hiking trails with waterfalls, horseback riding, fishing and so much more! This is a 55+ Community. Call now for your appointment!

11. 2019-08-14
    soldstatus $140,000 757-char remark

    Show marketing remark (757 chars)

    Stornoway is a very private condominium complex layed out with privacy in mind. Individual buildings are set apart by wooded surroundings, ample parking and each building serves as their on association. Located just minutes to down town Clayton you are almost tempted to walk to restaurants and shopping. This spacious unit has 3 BR,. 3 ba , 2 fireplaces , 1 in the living room and 2nd fireplace, is electric in the 2nd master bedroom, seperate dining room, laundry on main, 17 X 7 screened porch with access to a private deck. This condo is ready for the new owner to put their signature stamp on ,that will let you say, I AM HOME. This condo is an upper level that has 2 masters, one of which is a suite with walk in closet , bath and attic access.

12. 2019-08-14
    soldstatus $140,000

    Show marketing remark (757 chars)

    Stornoway is a very private condominium complex layed out with privacy in mind. Individual buildings are set apart by wooded surroundings, ample parking and each building serves as their on association. Located just minutes to down town Clayton you are almost tempted to walk to restaurants and shopping. This spacious unit has 3 BR,. 3 ba , 2 fireplaces , 1 in the living room and 2nd fireplace, is electric in the 2nd master bedroom, seperate dining room, laundry on main, 17 X 7 screened porch with access to a private deck. This condo is ready for the new owner to put their signature stamp on ,that will let you say, I AM HOME. This condo is an upper level that has 2 masters, one of which is a suite with walk in closet , bath and attic access.

13. 2018-10-19
    listed $155,900 757-char remark

    Show marketing remark (757 chars)

    Stornoway is a very private condominium complex layed out with privacy in mind. Individual buildings are set apart by wooded surroundings, ample parking and each building serves as their on association. Located just minutes to down town Clayton you are almost tempted to walk to restaurants and shopping. This spacious unit has 3 BR,. 3 ba , 2 fireplaces , 1 in the living room and 2nd fireplace, is electric in the 2nd master bedroom, seperate dining room, laundry on main, 17 X 7 screened porch with access to a private deck. This condo is ready for the new owner to put their signature stamp on ,that will let you say, I AM HOME. This condo is an upper level that has 2 masters, one of which is a suite with walk in closet , bath and attic access.

ⓘ 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: $879 · $73/mo
• Projected year-2 tax: $2,562 · $214/mo
• Expected delta: +$1,683/yr (+$140/mo · 191.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,804
• − Mortgage interest: −$15,600
• − Property taxes: −$879
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − HOA: −$2,004
• − Depreciation: −$8,102
• Taxable loss: −$7,142
• Est. tax savings @ 24.0%: +$1,714
• After-tax cash flow: $-492/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: Rabun County
• NCES district ID: 1304320
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $35,980
• Composite: 35.64/100
• National rank: #4882
• State rank: #37 of 174 in GA

Livability — Clayton

• Score: 66/100
• State rank: #197
• US rank: #12208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clayton, GA
• Population (ZIP): 7,265

Population outlook (Rabun County) Hauer SSP2

• Today (2025): 16,227 people
• By 2030: 16,000 · -1.4%
• By 2040: 15,213 · -6.2%
• By 2050: 13,974 · -13.9%
• By 2075: 10,717 · -34.0%
• By 2100: 7,824 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8% Other Indo-European 1%

Political lean MEDSL · Rabun

• 2024 margin: Solid R (+56.9) · D 21.3% · R 78.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -45.9pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+57.4 2016: R+60.9 2012: R+56.4 2008: R+45.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.68%
• Current HPI: 310.5456
• 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

+78.6% since first listed

8 events — show timeline

• 2026-01-16 Price Changed $278,500 GAMLS
• 2025-12-29 Price Changed $280,000 GAMLS
• 2025-09-22 Price Changed $299,000 GAMLS
• 2025-08-22 Price Changed $309,000 GAMLS
• 2025-08-04 Listed $319,000 GAMLS
• 2019-08-14 Sold (Public Records) $140,000 Public Records
• 2019-08-14 Sold (MLS) $140,000 GAMLS
• 2018-10-19 Listed $155,900 GAMLS

Property tax history

+6.0%/yr

Latest (2025): $879 · -4.9% YoY. Source: county tax records.