366 Gander Gap Rd · Hiawassee, GA 30546

$49,900

2 bd · 2.0 ba · 672 sqft · Other · 114 Days on market

Built 1973 0.31 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handy Man Special but priced right. No deed restrictions. Sold in AS IS CONDITIOIN all belongings stay with the property. DO NOT GO ON DECKS. Deck and porches are in need of repair. Views of small branch.

Key facts

• 0.31 acre lot
• Built 1973
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 22.8% vs local median 1.9% in Hiawassee — 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 77/100 on livability (#22 in GA, #3,192 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, housing A-; Watch: amenities F, commute F.
• Towns County (rural): math 40% / reading 44% proficiency, ranked #40 of 174 in GA (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Towns County Elementary School (math 42% / reading 42%, grade F, #380 of 1,228 statewide, top 33%, 500 students, 67% FRL) — zoned schools average 67% FRL vs 48% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 343 active listings in the ZIP; 108 units permitted in Towns County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Towns County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($45k) 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.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.61% ✓
• Cap rate: 22.79%
• Cash-on-cash: 58.92%
• DSCR: 3.62
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 57.6%
• Equity multiple: 3.55×
• Total profit: $35,624
• Equity at exit: $7,440

10-year hold

• IRR: 62.4%
• Equity multiple: 7.25×
• Total profit: $87,360
• Equity at exit: $4,314

Cash invested: $13,972 (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 30546

• Home prices YoY: -33.5%
• Active inventory: 343
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,305 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $686

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 42%

Sensitivity live

Price	-10% $720	-5% $703	+0% $686	+5% $669	+10% $651
Rent	-10% $583	-5% $634	+0% $686	+5% $738	+10% $789
Rate	-1.0pp $711	-0.5pp $699	base $686	+0.5pp $673	+1.0pp $660

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-03-15
   status Pending 204-char remark

   Show marketing remark (204 chars)

   Handy Man Special but priced right. No deed restrictions. Sold in AS IS CONDITIOIN all belongings stay with the property. DO NOT GO ON DECKS. Deck and porches are in need of repair. Views of small branch.

2. 2026-03-15
   status Under Contract

   Show marketing remark (204 chars)

   Handy Man Special but priced right. No deed restrictions. Sold in AS IS CONDITIOIN all belongings stay with the property. DO NOT GO ON DECKS. Deck and porches are in need of repair. Views of small branch.

3. 2025-11-21
   listed $49,900 Active 204-char remark

   Show marketing remark (204 chars)

   Handy Man Special but priced right. No deed restrictions. Sold in AS IS CONDITIOIN all belongings stay with the property. DO NOT GO ON DECKS. Deck and porches are in need of repair. Views of small branch.

4. 2025-11-21
   listed $49,900 New

   Show marketing remark (204 chars)

   Handy Man Special but priced right. No deed restrictions. Sold in AS IS CONDITIOIN all belongings stay with the property. DO NOT GO ON DECKS. Deck and porches are in need of repair. Views of small branch.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,658
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − Depreciation: −$1,452
• Taxable income: $7,908
• Est. tax owed @ 24.0%: −$1,898
• After-tax cash flow: $6,334/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: Towns County
• NCES district ID: 1305070
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $39,071
• Composite: 35.1/100
• National rank: #5018
• State rank: #40 of 174 in GA

Livability — Hiawassee

• Score: 77/100
• State rank: #22
• US rank: #3192

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,044

Population outlook (Towns County) Hauer SSP2

• Today (2025): 12,135 people
• By 2030: 12,602 · +3.8%
• By 2040: 13,563 · +11.8%
• By 2050: 14,531 · +19.7%
• By 2075: 17,373 · +43.2%
• By 2100: 19,042 · +56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Serbian 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Towns

• 2024 margin: Solid R (+62.3) · D 18.7% · R 81.0%
• 2008→2024 swing: -11.8pp toward R · 2008: -50.5pp · 2024: -62.3pp
• All cycles: 2024: R+62.3 2020: R+60.6 2016: R+62.0 2012: R+58.0 2008: R+50.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.57%
• Current HPI: 201.9595
• 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

+0.0% since first listed

4 events — show timeline

• 2026-03-15 Pending — NEGBOR
• 2026-03-15 Pending — GAMLS
• 2025-11-21 Listed $49,900 GAMLS
• 2025-11-21 Listed $49,900 NEGBOR

Property tax history

+5.6%/yr

Latest (2024): $97 · +12.6% YoY. Source: county tax records.