495 Shenandoah Dr · Dahlonega, GA 30533

$159,900

6 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 34 Days on market

Built 2003 1.79 ac lot ↓ 51% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in Dahlonega! This double-wide mobile home (2003 model) offers 1,296 sq ft of living space on a spacious 1.79-acre lot, providing plenty of room for privacy and outdoor enjoyment. The home needs TLC, making it a perfect value-add opportunity for investors or buyers looking to customize and build equity. With land, space, and potential, this property is a solid investment in a peaceful setting.

Key facts

• Spacious lot
• Peaceful setting
• 1.79 acre lot

Tags

• DOUBLE-WIDE MOBILE HOME
• SPACIOUS LOT
• VALUE-ADD OPPORTUNITY
• PEACEFUL SETTING

Property features AI

Finance

• Other: Listing accepts Cash, Conventional, FHA, USDA Loan, and VA Loan
• HOA & community: No HOA; No community features

Exterior

• Parking: No designated parking
• Utilities: Well water; Public sewer; Electricity available
• Home design: Manufactured home / Single family residence; One level; Residential property in need of fixer repairs
• Construction: Built in 2003; Vinyl siding; Composition roof; Manufactured house structure
• Exterior features: Level lot

Interior

• Kitchen: Microwave; Refrigerator; Other kitchen appliance(s)
• Bedrooms: Six bedrooms (all on the main level)
• Flooring: Carpet; Other flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: Other interior features
• Laundry & utility: Laundry features: other

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $966 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.1% in Dahlonega — 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 65/100 on livability (#241 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+; Watch: employment D, housing D, commute F.
• Lumpkin County (rural): math 38% / reading 45% proficiency, ranked #41 of 174 in GA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Long Branch Elementary School (math 42% / reading 47%, grade F, #336 of 1,228 statewide, top 29%, 392 students, 55% FRL).
• Market conditions: 378 active listings in the ZIP; 277 units permitted in Lumpkin County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lumpkin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; list at $160k implies a 183% gain — meaningful room to come down on a strong offer.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.64% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.88%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.6%
• Equity multiple: 1.80×
• Total profit: $35,638
• Equity at exit: $23,842

10-year hold

• IRR: 27.9%
• Equity multiple: 3.47×
• Total profit: $110,397
• Equity at exit: $13,825

Cash invested: $44,772 (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 30533

• Home prices YoY: -3.3%
• Active inventory: 378
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,621 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $966

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 58%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-02
   status $159,900 Under Contract 34 DOM
2. 2026-06-01
   days on market $159,900 Active 34 DOM
3. 2026-05-31
   days on market $159,900 Active 33 DOM
4. 2026-05-31
   days on market $159,900 Active 32 DOM
5. 2026-05-18
   price $169,900 417-char remark
6. 2026-05-05
   price $189,900 417-char remark
7. 2026-05-04
   price $194,900 417-char remark
8. 2026-04-28
   listed $198,900 New 417-char remark
9. 2001-05-04
   soldstatus $56,600
10. 2000-08-22
    soldstatus $611,000
11. 2000-03-23
    soldstatus $326,000
12. 2000-03-23
    soldstatus $326,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,455
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$2,516
• − Management: −$2,516
• − Depreciation: −$4,652
• Taxable income: $9,616
• Est. tax owed @ 24.0%: −$2,308
• After-tax cash flow: $9,281/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: Lumpkin County
• NCES district ID: 1303420
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $43,380
• Composite: 35.08/100
• National rank: #5023
• State rank: #41 of 174 in GA

Livability — Dahlonega

• Score: 65/100
• State rank: #241
• US rank: #13603

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lumpkin County · 28,049 people
• City population: 28,049
• Metro: nan
• Population (ZIP): 28,049
• Household income: $74,035
• Rent vs Own: 24.6% rent · 75.4% own
• Severe rent burden: 710.0

Population outlook (Lumpkin County) Hauer SSP2

• Today (2025): 33,244 people
• By 2030: 34,108 · +2.6%
• By 2040: 35,346 · +6.3%
• By 2050: 36,017 · +8.3%
• By 2075: 38,305 · +15.2%
• By 2100: 38,739 · +16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 3% Serbian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Lumpkin

• 2024 margin: Solid R (+61.7) · D 18.9% · R 80.5%
• 2008→2024 swing: -9.8pp toward R · 2008: -51.8pp · 2024: -61.7pp
• All cycles: 2024: R+61.7 2020: R+58.2 2016: R+60.0 2012: R+60.5 2008: R+51.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.95%
• Current HPI: 316.4948
• Rent YoY: —
• Metro: nan
• 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

-51.0% since first listed

10 events — show timeline

• 2026-06-02 Pending — GAMLS
• 2026-05-20 Price Changed $159,900 GAMLS
• 2026-05-18 Price Changed $169,900 GAMLS
• 2026-05-05 Price Changed $189,900 GAMLS
• 2026-05-04 Price Changed $194,900 GAMLS
• 2026-04-28 Listed $198,900 GAMLS
• 2001-05-04 Sold (Public Records) $56,600 Public Records
• 2000-08-22 Sold (Public Records) $611,000 Public Records
• 2000-03-23 Sold (Public Records) $326,000 Public Records
• 2000-03-23 Sold (Public Records) $326,000 Public Records

Property tax history

-5.0%/yr

Latest (2025): $298 · -12.5% YoY. Source: county tax records.