280 Stonebank Rd

Clarkesville, GA 30523

$225,000D

2 bd · 2.0 ba · 1,144 sqft · Built 1991 · SingleFamily · Active · 232 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,473/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$309
• Net cashflow: $-279/mo
• Annual: $-3,346/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.05%
• DSCR: 0.82
• 1% rule: 0.65%
• Cash to close: $63,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $-279 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (21.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (34.5% below list).
• It's been on market 232 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $147k (34.5% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($2k loan paydown + $4k 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-.
• Habersham County (rural): math 38% / reading 39% proficiency, ranked #53 of 174 in GA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairview Elementary School (math 52% / reading 44%, grade D, #289 of 1,228 statewide, top 24%, 467 students, 50% FRL); North Habersham Middle School (math 35% / reading 48%, grade F, #132 of 470 statewide, top 28%, 557 students, 46% FRL); Habersham Central High School (math 8% / reading 38%, grade F, #209 of 424 statewide, top 49%, 1,525 students, 47% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 294 active listings in the ZIP; 215 units permitted in Habersham County in 2024 (5 in 5+ unit buildings).
• Habersham County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $225k implies a 436% gain — meaningful room to come down on a strong offer.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% vs local median 1.7% 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

• 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 232 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.