231 Stornoway Dr #2 · Clayton, GA 30525

$249,999

2 bd · 2.0 ba · 2,053 sqft · Townhouse · 110 Days on market

Built 1982 Good condition 0.62 ac lot $122/sqft · 30% below area Est $359k · 30% under ↓ 9% since listing

---

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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Appreciation +5.3/10.0
• Schools +4.6/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0

Listing remarks

* Exterior of building to be painted soon * Ground floor condominium in Stornoway with a large addition making this more spacious with open great room. Newly renovated primary bath. Stornoway is conveniently located in Clayton with a short drive via paved roads to shopping, dining, medical offices and more. Entrance on ground level just steps away from parking area with a second (back) entrance for convenience. Would make an excellent second home or simplified living for a senior. Open house tentatively planned for April 25th 11AM-1PM. Stay tuned for floor plan & associated documents.

Key facts

• Built 1982
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.8% in Clayton — 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 66/100 on livability (#197 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D, amenities F, commute F.
• 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.
• Zoned schools: Rabun County Elementary School (math 37% / reading 42%, grade F, #435 of 1,228 statewide, top 37%, 660 students, 58% FRL); Rabun County Middle School (math 47% / reading 46%, grade D+, #94 of 470 statewide, top 20%, 342 students, 59% FRL); Rabun County High School (math 57% / reading 47%, grade D+, #26 of 424 statewide, top 6%, 653 students, 48% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 311 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 147 units permitted in Rabun County in 2024 (0 in 5+ unit buildings).
• At $2,853/mo this rent would consume 59% of the median local household income ($58k/yr) (locally 16% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Rabun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Recommended offer $227,499 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $359,223
• List price: $249,999
• Delta: -30.41%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Smoky Mountain Ln #103	0.17mi	3/3.0 (+1)	1,996 (-3%)	13mo	$367,500	$184	68
116 Smoky Mountain Ln #105	0.17mi	3/3.0 (+1)	1,996 (-3%)	14mo	$405,000	$203	67
80 Smoky Mountain Ln #105	0.15mi	3/3.0 (+1)	1,696 (-17%)	4mo	$410,000	$242	55
330 Stornoway Dr	0.16mi	2/2.0	1,800 (-12%)	23mo	$255,000	$142	52
300 Ginger Creek Ln #301	0.22mi	3/3.0 (+1)	1,752 (-15%)	22mo	$300,000	$171	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.49×
• Total profit: $34,308
• Equity at exit: $81,176

10-year hold

• IRR: 14.0%
• Equity multiple: 2.65×
• Total profit: $115,385
• Equity at exit: $104,722

Cash invested: $70,000 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 2 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $240,000 ($142/sqft)
• Median days on market: 172 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +23.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 30525

• Home prices YoY: 0.2%
• Active inventory: 311
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,853 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $526

Break-even live

Break-even rent $2,187

Max offer price $249,999

Occupancy floor 77%

Sensitivity live

Price	-10% $699	-5% $613	+0% $526	+5% $440	+10% $353
Rent	-10% $301	-5% $413	+0% $526	+5% $639	+10% $752
Rate	-1.0pp $652	-0.5pp $590	base $526	+0.5pp $461	+1.0pp $395

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: $62,500
• Closing costs: $7,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 Cannon St Clayton, GA	3.0	2.0	1650	$3,250	$1.97	64d	1	1.24mi
38 Bulldog Ln Clayton, GA	2.0	2.0	2030	$2,500	$1.23	74d	1	1.36mi

Property features AI

Finance

• Other: Home warranty included
• HOA & community: Has association (no association-fee inclusions listed)

Exterior

• Parking: Parking padMore than one space per unitOpen parking
• Utilities: Public waterPublic sewerHigh-speed internet availableUnderground utilitiesSewer connected
• Home design: Condominium (residential)One level
• Construction: Built in 1982Wood sidingComposition roof
• Exterior features: Partially wooded lotOther lot features

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: HardwoodTileOther
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Walk-in closet(s)Other interior featuresFireplace (1)
• Laundry & utility: Laundry closet

Listing history 50 events

1. 2026-08-09
   days on market $249,999 Active 110 DOM
2. 2026-08-08
   days on market $249,999 Active 109 DOM
3. 2026-08-07
   days on market $249,999 Active 108 DOM
4. 2026-08-06
   days on market $249,999 Active 107 DOM
5. 2026-08-05
   days on market $249,999 Active 106 DOM
6. 2026-08-04
   days on market $249,999 Active 105 DOM
7. 2026-08-03
   days on market $249,999 Active 104 DOM
8. 2026-07-31
   days on market $249,999 Active 101 DOM
9. 2026-07-30
   days on market $249,999 Active 100 DOM
10. 2026-07-29
    days on market $249,999 Active 99 DOM
11. 2026-07-27
    days on market $249,999 Active 97 DOM
12. 2026-07-25
    days on market $249,999 Active 95 DOM
13. 2026-07-24
    days on market $249,999 Active 94 DOM
14. 2026-07-23
    days on market $249,999 Active 93 DOM
15. 2026-07-22
    days on market $249,999 Active 92 DOM
16. 2026-07-21
    days on market $249,999 Active 91 DOM
17. 2026-07-18
    days on market $249,999 Active 88 DOM
18. 2026-07-16
    days on market $249,999 Active 86 DOM
19. 2026-07-15
    days on market $249,999 Active 85 DOM
20. 2026-07-14
    remarks 594-char remark
21. 2026-07-14
    days on market $249,999 Active 84 DOM
22. 2026-07-13
    days on market $249,999 Active 83 DOM
23. 2026-07-12
    days on market $249,999 Active 82 DOM
24. 2026-07-12
    days on market $249,999 Active 81 DOM
25. 2026-07-10
    days on market $249,999 Active 80 DOM
26. 2026-07-09
    days on market $249,999 Active 79 DOM
27. 2026-07-09
    days on market $249,999 Active 78 DOM
28. 2026-07-07
    days on market $249,999 Active 77 DOM
29. 2026-07-06
    days on market $249,999 Active 76 DOM
30. 2026-07-05
    days on market $249,999 Active 75 DOM
31. 2026-07-04
    days on market $249,999 Active 74 DOM
32. 2026-07-03
    days on market $249,999 Active 73 DOM
33. 2026-07-02
    days on market $249,999 Active 72 DOM
34. 2026-07-01
    days on market $249,999 Active 71 DOM
35. 2026-06-30
    days on market $249,999 Active 70 DOM
36. 2026-06-29
    days on market $249,999 Active 69 DOM
37. 2026-06-28
    days on market $249,999 Active 68 DOM
38. 2026-06-27
    statusdays on market $249,999 Active 67 DOM
39. 2026-06-26
    pricestatusdays on market $249,999 Price Change 65 DOM
40. 2026-06-22
    days on market $265,000 Active 62 DOM
41. 2026-06-21
    days on market $265,000 Active 61 DOM
42. 2026-06-21
    days on market $265,000 Active 60 DOM
43. 2026-06-18
    days on market $265,000 Active 58 DOM
44. 2026-06-17
    days on market $265,000 Active 57 DOM
45. 2026-06-16
    days on market $265,000 Active 56 DOM
46. 2026-06-15
    days on market $265,000 Active 55 DOM
47. 2026-06-13
    days on market $265,000 Active 53 DOM
48. 2026-06-12
    days on market $265,000 Active 52 DOM
49. 2026-06-09
    days on market $265,000 Active 49 DOM
50. 2026-06-08
    days on market $265,000 Active 48 DOM

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

Taxation est. · year 1

• Rental income: $34,235
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,739
• − Management: −$2,739
• − Depreciation: −$7,273
• Taxable income: $2,481
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $5,718/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $10,265–$30,795 screening

This well-maintained townhouse is in good condition with minimal repairs needed. It offers a spacious layout and is conveniently located with a short drive to shopping and amenities. Painting and landscaping improvements would further enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale New flooring in bathrooms — Modern flooring improves aesthetics and functionality ↑
• Resale New kitchen appliances — Modern appliances enhance functionality and appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Rabun County Elementary School F GA #435/1,228 Nat'l #19,648/41,679 Middle Rabun County Middle School D+ GA #94/470 Nat'l #4,335/14,009 High Rabun County High School D+ GA #26/424 Nat'l #5,016/17,239

Schools (NCES district)

• District: Rabun County
• NCES district ID: 1304320
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $35,980
• Composite: 35.64/100
• National rank: #4882
• State rank: #37 of 174 in GA

C Composite livability gradescore 66/100

Livability — Clayton

• Score: 66/100
• State rank: #197
• US rank: #12208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clayton, GA
• County: Rabun · 16,227 people
• Population (ZIP): 7,265
• Household income: $58,374
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 16% of renters

---

Population outlook (Rabun County) Hauer SSP2

• Today (2025): 16,227 people
• By 2030: 16,000 · -1.4%
• By 2040: 15,213 · -6.2%
• By 2050: 13,974 · -13.9%
• By 2075: 10,717 · -34.0%
• By 2100: 7,824 · -51.8%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8% Other Indo-European 1%

---

Political lean MEDSL · Rabun

• 2024 margin: Solid R (+56.9) · D 21.3% · R 78.2%
• 2008→2024 swing: -11.0pp toward R · 2008: -45.9pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+57.4 2016: R+60.9 2012: R+56.4 2008: R+45.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.68%
• Current HPI: 310.5456
• Rent YoY: —
• Metro: —
• 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

Property features AI

Finance

• Other: Home warranty included
• HOA & community: Has association (no association-fee inclusions listed)

Exterior

• Parking: Parking padMore than one space per unitOpen parking
• Utilities: Public waterPublic sewerHigh-speed internet availableUnderground utilitiesSewer connected
• Home design: Condominium (residential)One level
• Construction: Built in 1982Wood sidingComposition roof
• Exterior features: Partially wooded lotOther lot features

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: HardwoodTileOther
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Walk-in closet(s)Other interior featuresFireplace (1)
• Laundry & utility: Laundry closet

Price history

-9.1% since first listed

4 events — show timeline

• 2026-06-25 Price Changed $249,999 GAMLS
• 2026-05-27 Price Changed $265,000 GAMLS
• 2026-04-22 Listed $275,000 GAMLS
• 2026-04-10 Coming Soon $275,000 GAMLS