61 Manny Ln

Mineral Bluff, GA 28906

$164,900D+

2 bd · 2.0 ba · 864 sqft · Built 2000 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,292/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $44/mo
• Annual: $527/yr
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• 1% rule: 0.78%
• Cash to close: $46,172

Investor read

• This is a 2-bed/2.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $44 ($527/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 $129k (21.7% below list).
• It's been on market 18 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (21.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#572 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Cherokee County Schools (rural): math 42% / reading 47% proficiency, ranked #90 of 178 in NC (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Murphy Elementary (math 52% / reading 47%, grade D, #417 of 1,410 statewide, top 32%, 536 students, 99% FRL); Murphy Middle (math 42% / reading 48%, grade D, #160 of 475 statewide, top 35%, 316 students, 64% FRL); Murphy High (math 42% / reading 57%, grade D, #311 of 535 statewide, top 60%, 489 students, 55% FRL) — zoned schools average 73% FRL vs 56% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 232 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $59k; list at $165k implies a 179% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 1.3% in Mineral Bluff — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.