5973 Lights Ferry Rd

Flowery Branch, GA 30542

$145,999B-

4 bd · 2.0 ba · 1,680 sqft · Built 1996 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,246/mo
• Mortgage (P&I): −$766
• Tax + insurance: −$243
• HOA: −$50
• Vac / Maint / Mgmt: −$472
• Net cashflow: $715/mo
• Annual: $8,581/yr
• Cap rate: 12.17%
• Cash-on-cash: 20.99%
• DSCR: 1.93
• 1% rule: 1.54%
• Cash to close: $40,880

Investor read

• This is a 4-bed/2.0-bath single-family listed at $146k. Condition is rated good.
• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• It's been on market 43 days — a 3% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $142k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#81 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing 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: Flowery Branch Elementary School (math 26% / reading 25%, grade F, #736 of 1,228 statewide, top 61%, 691 students, 50% FRL); West Hall Middle School (math 18% / reading 27%, grade F, #327 of 470 statewide, top 70%, 863 students, 66% FRL); West Hall High School (math 7% / reading 14%, grade F, #348 of 424 statewide, top 83%, 1,241 students, 52% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents falling (-5.2%/yr); 572 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 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 $63k; list at $146k implies a 132% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 12.2% vs local median 3.1% in Flowery Branch — 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.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.