9 Pruitt Cir

Blairsville, GA 30512

$350,000D-

4 bd · 2.0 ba · 3,512 sqft · Built 1930 · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,352/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$322
• HOA: −$0
• Vac / Maint / Mgmt: −$494
• Net cashflow: $-299/mo
• Annual: $-3,589/yr
• Cap rate: 5.27%
• Cash-on-cash: -3.66%
• DSCR: 0.84
• 1% rule: 0.67%
• Cash to close: $98,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $350k.
• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $297k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (32.8% below list).
• It's been on market 112 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $235k (32.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#73 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: housing C-, amenities D, commute F.
• Union County (rural): math 37% / reading 42% proficiency, ranked #48 of 174 in GA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 789 active listings in the ZIP; 281 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $85k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.3% vs local median 2.6% in Blairsville — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.