1546 Hartwell Hwy

Elberton, GA 30635

$160,000C+

3 bd · 2.0 ba · 1,248 sqft · Built 1979 · Manufactured · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,407/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $171/mo
• Annual: $2,056/yr
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• 1% rule: 0.88%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $160k.
• At list price, monthly cash flow is $171 ($2k/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 $141k (12.0% below list).
• It's been on market 94 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $141k (12.0% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#375 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime F, amenities F, commute F.
• Elbert County (rural): math 26% / reading 25% proficiency, ranked #124 of 174 in GA (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Elbert County Elementary School (math 40% / reading 26%, grade F, #567 of 1,228 statewide, top 47%, 656 students, 85% FRL); Elbert County Middle School (math 23% / reading 27%, grade F, #291 of 470 statewide, top 64%, 929 students, 85% FRL); Elbert County High School (math 17% / reading 12%, grade F, #315 of 424 statewide, top 76%, 875 students, 58% FRL) — zoned schools average 76% FRL vs 61% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 187 active listings in the ZIP; 77 units permitted in Elbert County in 2024 (0 in 5+ unit buildings).
• Elbert County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 7.6% vs local median 3.5% in Elberton — 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 94 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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?
• 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.