121 Rebecca Ct

Dahlonega, GA 30533

$149,000C-

2 bd · 1.0 ba · 728 sqft · Built 1994 · Manufactured · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,586/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$248
• HOA: −$0
• Vac / Maint / Mgmt: −$333
• Net cashflow: $223/mo
• Annual: $2,679/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• 1% rule: 1.06%
• Cash to close: $41,720

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $149k.
• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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); Lumpkin County Middle School (math 35% / reading 44%, grade F, #147 of 470 statewide, top 33%, 862 students, 40% FRL); Lumpkin County High School (math 30% / reading 41%, grade F, #81 of 424 statewide, top 19%, 1,134 students, 34% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 384 active listings in the ZIP; 277 units permitted in Lumpkin County in 2024 (0 in 5+ unit buildings).
• Lumpkin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $149k implies a 113% gain — meaningful room to come down on a strong offer.
• Cap rate 8.1% 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.