4960 Laurel Lodge Lot #35

Clarkesville, GA 30523

$117,900C

2 bd · 1.0 ba · 406 sqft · Built 2019 · SingleFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,095/mo
• Mortgage (P&I): −$618
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $50/mo
• Annual: $603/yr
• Cap rate: 6.80%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• 1% rule: 0.93%
• Cash to close: $33,012

Investor read

• This is a 2-bed/1.0-bath single-family listed at $118k. Condition is rated good.
• At list price, monthly cash flow is $50 ($603/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 $109k (7.1% below list).
• It's been on market 101 days — a 9% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $107k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($815 loan paydown + $2k appreciation (1.6% local appreciation)).
• Location reads 72/100 on livability (#66 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• 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: 291 active listings in the ZIP; 147 units permitted in Rabun County in 2024 (0 in 5+ unit buildings).
• Rabun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 3y ago 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.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 6.8% vs local median 2.0% in Clarkesville — 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 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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.