1513 Pine Valley Rd

Gainesville, GA 30501

$116,000C-

2 bd · 1.0 ba · 470 sqft · Built 1965 · Manufactured · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,249/mo
• Mortgage (P&I): −$608
• Tax + insurance: −$193
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $185/mo
• Annual: $2,220/yr
• Cap rate: 8.21%
• Cash-on-cash: 6.83%
• DSCR: 1.30
• 1% rule: 1.08%
• Cash to close: $32,480

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $116k.
• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• It's been on market 34 days — a 3% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $802 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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+, crime F, commute 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.
• Zoned schools: North Hall Middle School (math 42% / reading 48%, grade D, #103 of 470 statewide, top 23%, 822 students, 31% FRL); North Hall High School (math 22% / reading 17%, grade F, #243 of 424 statewide, top 59%, 1,138 students, 26% FRL) — zoned schools average 28% FRL vs 53% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.5%/yr); 250 active listings in the ZIP; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $116k implies a 127% gain — meaningful room to come down on a strong offer.
• Cap rate 8.2% 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.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.