5228 Bogus Rd · Gainesville, GA 30506

$295,000

4 bd · 2.0 ba · 1,680 sqft · Other · 27 Days on market

Built 2026 0.60 ac lot

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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 +17.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

5228 Bogus Rd, Gainesville GA 30506 - $295,000 New 4-Bedroom in North Hall School District - No HOA - FHA Ready Tucked into one of Hall County's most sought-after school zones - Wauka Mountain Elementary, North Hall Middle, and North Hall High - this brand-new 2026 Clayton Expedition delivers four bedrooms, two full baths, and 1,680 square feet on 0.6 wooded acres. No HOA, no shared driveway, no cookie-cutter neighborhood. Inside, an open-concept kitchen with a stained-cabinet island flows into the family room with laminate flooring throughout. The primary suite features a double vanity and separate tub-and-shower. Three additional bedrooms give you room for kids, guests, a home office, or all three. Out back, the deck looks straight into mature trees - quiet, private, and five minutes from everything Gainesville has to offer. Built on a permanent foundation with brick skirting. Double-pane windows, brand-new stainless-steel appliances included. Approved for FHA, VA, USDA, and Conventional financing. Peace of mind from day one: 1-Year Full Manufacturer's Warranty Lifetime Siding Warranty 20-Year Shingle Warranty 7-Year HVAC Warranty Full Manufacturer Coverage on All New Appliances Permanent Foundation, Brick Skirting Smoke Alarms and GFI-Protected Outlets Anti-Scald Valves on All Showers and Tubs Wauka Mountain / North Hall Schools Why this one: Brand-new four-bedroom construction zoned to North Hall schools under $300,000 simply isn't available right now - except here. North Hall is consistently a top-performing district in the county, and that holds value at resale. Schedule your tour today.

Key facts

• Large back deck
• Permanent foundation
• 0.6 acres

Tags

• NEW MANUFACTURED HOME
• PERMANENT FOUNDATION
• BRICK SKIRTING
• LARGE BACK DECK
• 0.6 ACRES
• HALL COUNTY

Property features AI

Exterior

• Parking: Driveway with space for 4 vehicles; Open parking available
• Utilities: Well water; Septic tank; Electric service with 110V and 220V available; Electricity available; Water available
• Home design: Double wide mobile home; Single-story (one level); New construction; Composition roof
• Construction: Vinyl siding; Brick/mortar foundation
• Exterior features: Private entrance; Private yard; Deck

Interior

• Kitchen: Kitchen island; Stained cabinets; Dishwasher; Electric range; Refrigerator
• Bedrooms: Master on main; 4 main-level bedrooms
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; Master bath with double vanity and separate tub and shower
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Double pane windows; No shared/common walls; Other interior features
• Laundry & utility: Dedicated laundry room

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $295k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $286k (3.1% below list).
• Recommended offer: $286k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 2.7% in Gainesville — 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 (#181 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: amenities D+, crime F, commute F.
• 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: Wauka Mountain Elementary School (math 49% / reading 56%, grade C-, #219 of 1,228 statewide, top 18%, 558 students, 27% FRL); North Hall Middle School (math 42% / reading 48%, grade D, #103 of 470 statewide, top 23%, 822 students, 31% FRL); North Hall High School (math 22% / reading 17%, grade F, #243 of 424 statewide, top 59%, 1,138 students, 26% FRL) — zoned schools average 28% FRL vs 53% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.8%/yr); 688 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• This rent runs 35% of the median local income ($97k/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 $9k 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $285,716 (3.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.84% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-31,410
• Equity at exit: $43,985

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $906
• Equity at exit: $25,506

Cash invested: $82,600 (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 30506

• Home prices YoY: -32.1%
• Rents YoY: 3.8%
• Active inventory: 688
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,857 medium
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $218

Break-even live

Break-even rent $2,581

Max offer price $295,000

Occupancy floor 87%

Sensitivity live

Price	-10% $422	-5% $320	+0% $218	+5% $117	+10% $15
Rent	-10% $-7	-5% $106	+0% $218	+5% $331	+10% $444
Rate	-1.0pp $367	-0.5pp $294	base $218	+0.5pp $142	+1.0pp $64

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4502 Highland Gate Pkwy Gainesville, GA	4.0	3.5	2104	$2,795	$1.33	44d	1	1.46mi
4502 Highland Gate Pkwy Gainesville, GA	4.0	3.5	2104	$2,820	$1.34	3d	1	1.46mi

Listing history 2 events

1. 2026-04-23
   listed $295,000 New 1647-char remark

   Show marketing remark (1647 chars)

   5228 Bogus Rd, Gainesville GA 30506 - $295,000 New 4-Bedroom in North Hall School District - No HOA - FHA Ready Tucked into one of Hall County's most sought-after school zones - Wauka Mountain Elementary, North Hall Middle, and North Hall High - this brand-new 2026 Clayton Expedition delivers four bedrooms, two full baths, and 1,680 square feet on 0.6 wooded acres. No HOA, no shared driveway, no cookie-cutter neighborhood. Inside, an open-concept kitchen with a stained-cabinet island flows into the family room with laminate flooring throughout. The primary suite features a double vanity and separate tub-and-shower. Three additional bedrooms give you room for kids, guests, a home office, or all three. Out back, the deck looks straight into mature trees - quiet, private, and five minutes from everything Gainesville has to offer. Built on a permanent foundation with brick skirting. Double-pane windows, brand-new stainless-steel appliances included. Approved for FHA, VA, USDA, and Conventional financing. Peace of mind from day one: 1-Year Full Manufacturer's Warranty Lifetime Siding Warranty 20-Year Shingle Warranty 7-Year HVAC Warranty Full Manufacturer Coverage on All New Appliances Permanent Foundation, Brick Skirting Smoke Alarms and GFI-Protected Outlets Anti-Scald Valves on All Showers and Tubs Wauka Mountain / North Hall Schools Why this one: Brand-new four-bedroom construction zoned to North Hall schools under $300,000 simply isn't available right now - except here. North Hall is consistently a top-performing district in the county, and that holds value at resale. Schedule your tour today.

2. 2026-04-23
   listed $295,000 Active 1689-char remark

   Show marketing remark (1647 chars)

   5228 Bogus Rd, Gainesville GA 30506 - $295,000 New 4-Bedroom in North Hall School District - No HOA - FHA Ready Tucked into one of Hall County's most sought-after school zones - Wauka Mountain Elementary, North Hall Middle, and North Hall High - this brand-new 2026 Clayton Expedition delivers four bedrooms, two full baths, and 1,680 square feet on 0.6 wooded acres. No HOA, no shared driveway, no cookie-cutter neighborhood. Inside, an open-concept kitchen with a stained-cabinet island flows into the family room with laminate flooring throughout. The primary suite features a double vanity and separate tub-and-shower. Three additional bedrooms give you room for kids, guests, a home office, or all three. Out back, the deck looks straight into mature trees - quiet, private, and five minutes from everything Gainesville has to offer. Built on a permanent foundation with brick skirting. Double-pane windows, brand-new stainless-steel appliances included. Approved for FHA, VA, USDA, and Conventional financing. Peace of mind from day one: 1-Year Full Manufacturer's Warranty Lifetime Siding Warranty 20-Year Shingle Warranty 7-Year HVAC Warranty Full Manufacturer Coverage on All New Appliances Permanent Foundation, Brick Skirting Smoke Alarms and GFI-Protected Outlets Anti-Scald Valves on All Showers and Tubs Wauka Mountain / North Hall Schools Why this one: Brand-new four-bedroom construction zoned to North Hall schools under $300,000 simply isn't available right now - except here. North Hall is consistently a top-performing district in the county, and that holds value at resale. Schedule your tour today.

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,286
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,743
• − Management: −$2,743
• − Depreciation: −$8,582
• Taxable loss: −$2,206
• Est. tax savings @ 24.0%: +$529
• After-tax cash flow: $3,151/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 — Gainesville

• Score: 66/100
• State rank: #181
• US rank: #11362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hall County · 188,353 people
• City population: 140,301
• Metro: Gainesville, GA
• Population (ZIP): 45,612
• Household income: $97,413
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 561.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 11% Two or more races 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 3% Italian 2% Romanian 1%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 88% English-only · Spanish 10%

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: ▼ -122.87%
• Current HPI: 259.9978
• Rent YoY: ▲ 3.84%
• Metro: Gainesville, GA
• 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

+1.4% since first listed

6 events — show timeline

• 2026-06-02 Sold (MLS) $299,000 FMLS
• 2026-06-02 Sold (MLS) $299,000 GAMLS
• 2026-05-20 Pending — GAMLS
• 2026-05-20 Pending — FMLS
• 2026-04-23 Listed $295,000 FMLS
• 2026-04-23 Listed $295,000 GAMLS

Property tax history

+12.9%/yr

Latest (2025): $370 · -16.2% YoY. Source: county tax records.