5381 Forest Way

Braselton, GA 30517

$225,000C

3 bd · 2.0 ba · 784 sqft · Built 1986 · Manufactured · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,233/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$469
• Net cashflow: $448/mo
• Annual: $5,377/yr
• Cap rate: 8.68%
• Cash-on-cash: 8.53%
• DSCR: 1.38
• 1% rule: 0.99%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $225k.
• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (0.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $223k (0.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#30 in GA, #3,898 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Hall County (rural): math 28% / reading 33% proficiency, ranked #81 of 174 in GA (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Chestnut Mountain Elementary School (math 41% / reading 37%, grade F, #456 of 1,228 statewide, top 38%, 820 students, 34% FRL); Cherokee Bluff Middle (math 42% / reading 44%, grade D-, #116 of 470 statewide, top 26%, 814 students, 30% FRL); Cherokee Bluff High School (math 22% / reading 32%, grade F, #162 of 424 statewide, top 40%, 1,151 students, 24% FRL) — zoned schools average 29% FRL vs 53% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.0%/yr); 332 active listings in the ZIP; high-income renter base; 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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 $33k; list at $225k implies a 582% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.7% vs local median 3.0% in Braselton — 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.
• 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.