4107 Belvedere Dr · Gainesville, GA 30506

$224,900

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 259 Days on market

Built 1960 0.50 ac lot $234/sqft · 22% below area Est $289k · 22% under

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Why this score? — see what drove the C 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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.8/10.0
• 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

Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

Key facts

• 0.5 acre lot
• Built 1960
• Listed 258 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/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 $221k (1.9% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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+, schools F, crime 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.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 259 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 7 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 $197,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.16%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (median comp): $289,037
• List price: $224,900
• Delta: -22.19%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4110 Belvedere Dr	0.04mi	3/2.0	1,025 (+7%)	12mo	$289,000	$282	73
3916 Petes Dr	0.33mi	2/2.5 (-1)	1,060 (+10%)	5mo	$250,000	$236	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-14,036
• Equity at exit: $33,533

10-year hold

• IRR: 4.6%
• Equity multiple: 1.35×
• Total profit: $21,923
• Equity at exit: $19,445

Cash invested: $62,972 (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 30506

• Home prices YoY: -32.1%
• Rents YoY: 3.8%
• Active inventory: 688
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,207 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$147 /mo · $1,764/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $323

Break-even live

Break-even rent $1,798

Max offer price $224,900

Occupancy floor 80%

Sensitivity live

Price	-10% $450	-5% $387	+0% $323	+5% $259	+10% $196
Rent	-10% $149	-5% $236	+0% $323	+5% $410	+10% $497
Rate	-1.0pp $436	-0.5pp $380	base $323	+0.5pp $265	+1.0pp $206

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Treesort Vw Gainesville, GA	1.0–3.0	2.0	984	$2,000	$2.03	2d	7	0.73mi
4433 Sardis Dr Gainesville, GA	3.0	1.0	1072	$1,925	$1.80	21d	1	0.78mi

Listing history 26 events

1. 2026-06-18
   days on market $224,900 Active 259 DOM
2. 2026-06-17
   days on market $224,900 Active 258 DOM
3. 2026-06-16
   days on market $224,900 Active 257 DOM
4. 2026-06-15
   days on market $224,900 Active 256 DOM
5. 2026-06-13
   days on market $224,900 Active 254 DOM
6. 2026-06-09
   days on market $224,900 Active 250 DOM
7. 2026-06-08
   days on market $224,900 Active 249 DOM
8. 2026-06-07
   days on market $224,900 Active 248 DOM
9. 2026-06-04
   days on market $224,900 Active 245 DOM
10. 2026-06-03
    days on market $224,900 Active 244 DOM
11. 2026-06-02
    days on market $224,900 Active 243 DOM
12. 2026-06-01
    days on market $224,900 Active 242 DOM
13. 2026-05-31
    days on market $224,900 Active 241 DOM
14. 2026-04-09
    status Active 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

15. 2026-04-08
    listed $224,900 New 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

16. 2026-03-31
    historical 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

17. 2026-03-31
    historical

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

18. 2025-10-27
    status Active 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

19. 2025-10-07
    status Price Change

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

20. 2025-10-07
    price $224,900

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

21. 2025-10-07
    status Active 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

22. 2025-10-07
    price $224,900 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

23. 2025-09-30
    status Under Contract

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

24. 2025-09-30
    status Pending 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

25. 2025-09-13
    listed $189,900 Active 191-char remark

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

26. 2025-09-13
    listed $189,900 New

    Show marketing remark (191 chars)

    Great opportunity for a savy buyer or investor looking for instant equity. This ranch is an easy fixer upper listed below appraised value. Schedule your showing now for this rare opportunity.

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

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $1,764 · $147/mo
• Projected year-2 tax: $2,069 · $172/mo
• Expected delta: +$305/yr (+$25/mo · 17.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $26,479
• − Mortgage interest: −$12,598
• − Property taxes: −$1,764
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,118
• − Management: −$2,118
• − Depreciation: −$6,543
• Taxable income: $213
• Est. tax owed @ 24.0%: −$51
• After-tax cash flow: $3,826/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

+18.4% since first listed

13 events — show timeline

• 2026-04-09 Relisted — FMLS
• 2026-04-08 Listed $224,900 GAMLS
• 2026-03-31 Listing Removed — GAMLS
• 2026-03-31 Listing Removed — FMLS
• 2025-10-27 Relisted — FMLS
• 2025-10-07 Relisted — GAMLS
• 2025-10-07 Price Changed $224,900 GAMLS
• 2025-10-07 Relisted — FMLS
• 2025-10-07 Price Changed $224,900 FMLS
• 2025-09-30 Pending — GAMLS
• 2025-09-30 Pending — FMLS
• 2025-09-13 Listed $189,900 GAMLS
• 2025-09-13 Listed $189,900 FMLS

Property tax history

+15.1%/yr

Latest (2025): $1,764 · +193.0% YoY. Source: county tax records.