327 Brucken Strasse #305

Helen, GA 30545

$459,500D

2 bd · 2.5 ba · 2,060 sqft · Built 1986 · Condo · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,500/mo
• Mortgage (P&I): −$2,410
• Tax + insurance: −$348
• HOA: −$250
• Vac / Maint / Mgmt: −$735
• Net cashflow: $-242/mo
• Annual: $-2,906/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• 1% rule: 0.76%
• Cash to close: $128,660

Investor read

• This is a 2-bed/2.5-bath condo listed at $460k.
• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $417k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (23.8% below list).
• It's been on market 25 days — a 2% lower offer ($453k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $350k (23.8% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($3k loan paydown + $-1k appreciation (-0.2% local appreciation)).
• Location reads 79/100 on livability (#15 in GA, #2,076 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: commute F.
• White County (rural): math 43% / reading 42% proficiency, ranked #35 of 174 in GA (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mount Yonah Elementary School (math 48% / reading 46%, grade D-, #301 of 1,228 statewide, top 25%, 459 students, 51% FRL); White County Middle School (math 41% / reading 45%, grade D-, #116 of 470 statewide, top 26%, 858 students, 52% FRL); White County High School (math 33% / reading 30%, grade F, #122 of 424 statewide, top 30%, 1,176 students, 43% FRL) — zoned schools at 49% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 71 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 180 units permitted in White County in 2024 (0 in 5+ unit buildings).
• White County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 16y ago 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 $388k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 9, paydown + projected appreciation supports a ~$32k 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 5.8% vs local median 2.8% in Helen — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?
• 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.