251 Shakespeare Dr #323 · Clayton, GA 30525

$250,000

3 bd · 3.0 ba · 1,653 sqft · Condo · 47 Days on market

Built 1975 Good condition $151/sqft · 18% above area Est $212k · 18% over $510/mo HOA · 15% of rent

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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 +24.8/30.0
• 1% rule +9.0/10.0
• DSCR +8.0/10.0
• Appreciation +5.3/10.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to easy mountain living at 251 Shakespeare Dr, Unit #323 - a beautifully updated ground-level condo where comfort, charm and scenic golf course views come together effortlessly. This spacious 3-bedroom, 3-bath residence offers the convenience of one-level living with the peaceful backdrop of rolling greens and blooming azaleas just beyond your door. Inside, the thoughtfully updated kitchen and bathrooms blend modern touches with warm mountain character, creating a space that feels both stylish and inviting. The living area centers around a cozy wood-burning fireplace, perfect for relaxing after a day on the course or cool mountain evenings spent with family and friends. Large window

Key facts

• One-level living
• Updated bathrooms
• Updated kitchen

Tags

• GROUND-LEVEL CONDO
• GOLF COURSE VIEWS
• ONE-LEVEL LIVING
• UPDATED KITCHEN
• UPDATED BATHROOMS
• WOOD-BURNING FIREPLACE

Property features AI

Finance

• Other: Resale property; Subdivision: Kings Point
• HOA & community: Homeowners association (has association); Annual association fee of 6120; HOA covers maintenance of structures and grounds, pest control, private roads, reserve fund, pool, trash, and water

Exterior

• Parking: Guest parking; Assigned parking; Off-street parking
• Utilities: Private water; Private sewer; Electricity available; Water available
• Home design: Residential condominium; Mid-rise building; Attached property; Built in 1975
• Construction: Wood siding; Composition roof; Public-record building area 1653
• Exterior features: View; Golf course frontage; Pool (community); Sidewalks

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet
• Bathrooms: Three full bathrooms (on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Roommate plan; One-level living; Living room fireplace; Dining room / living room combo; Family room
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.6% in Clayton — 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 (#197 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D, schools F, amenities F.
• Rabun County (rural): math 42% / reading 44% proficiency, ranked #37 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 147 units permitted in Rabun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Rabun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Recommended offer $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 6.0

CMA / ARV

• ARV (median comp): $212,353
• List price: $250,000
• Delta: 17.73%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.50×
• Total profit: $34,707
• Equity at exit: $81,177

10-year hold

• IRR: 14.2%
• Equity multiple: 2.67×
• Total profit: $117,142
• Equity at exit: $104,723

Cash invested: $70,000 (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 30525

• Home prices YoY: 0.2%
• Active inventory: 260
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$510
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $527

Break-even live

Break-even rent $2,833

Max offer price $250,000

Occupancy floor 80%

Sensitivity live

Price	-10% $700	-5% $614	+0% $527	+5% $441	+10% $355
Rent	-10% $251	-5% $389	+0% $527	+5% $666	+10% $804
Rate	-1.0pp $653	-0.5pp $591	base $527	+0.5pp $463	+1.0pp $397

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
233 Orchid Trl Clayton, GA	3.0	2.0	1920	$3,500	$1.82	24d	1	1.22mi

HOA detail condo

• Monthly dues: $510 · $6,120/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $250,000 Active 47 DOM
2. 2026-06-18
   days on market $250,000 Active 45 DOM
3. 2026-06-17
   days on market $250,000 Active 44 DOM
4. 2026-06-16
   days on market $250,000 Active 43 DOM
5. 2026-06-15
   days on market $250,000 Active 42 DOM
6. 2026-06-13
   days on market $250,000 Active 40 DOM
7. 2026-06-12
   days on market $250,000 Active 39 DOM
8. 2026-06-09
   days on market $250,000 Active 36 DOM
9. 2026-06-08
   days on market $250,000 Active 35 DOM
10. 2026-06-07
    days on market $250,000 Active 34 DOM
11. 2026-06-07
    days on market $250,000 Active 33 DOM
12. 2026-06-04
    days on market $250,000 Active 30 DOM
13. 2026-06-02
    days on market $250,000 Active 29 DOM
14. 2026-06-01
    days on market $250,000 Active 28 DOM
15. 2026-05-31
    days on market $250,000 Active 27 DOM
16. 2026-05-31
    days on market $250,000 Active 26 DOM
17. 2026-04-30
    listed $250,000 New 1062-char remark

ⓘ 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: $42,000
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − HOA: −$6,120
• − Depreciation: −$7,273
• Taxable income: $2,883
• Est. tax owed @ 24.0%: −$692
• After-tax cash flow: $5,636/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated townhouse offers a cozy, golf course view with minimal repairs needed. Paint exterior and update interior for maximum value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet with hardwood — Improves flow and value
• Both Update kitchen cabinets — Modernizes space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood — Improves flow and value ↑
• Both Update kitchen cabinets — Modernizes space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Rabun County
• NCES district ID: 1304320
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $35,980
• Composite: 35.64/100
• National rank: #4882
• State rank: #37 of 174 in GA

Livability — Clayton

• Score: 66/100
• State rank: #197
• US rank: #12208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,265

Population outlook (Rabun County) Hauer SSP2

• Today (2025): 16,227 people
• By 2030: 16,000 · -1.4%
• By 2040: 15,213 · -6.2%
• By 2050: 13,974 · -13.9%
• By 2075: 10,717 · -34.0%
• By 2100: 7,824 · -51.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8% Other Indo-European 1%

Political lean MEDSL · Rabun

• 2024 margin: Solid R (+56.9) · D 21.3% · R 78.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -45.9pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+57.4 2016: R+60.9 2012: R+56.4 2008: R+45.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.68%
• Current HPI: 310.5456
• 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

1 event — show timeline

• 2026-04-30 Listed $250,000 GAMLS