7581 Old Hwy 76

Morganton, GA 30560

$339,000C-

3 bd · 2.0 ba · 1,760 sqft · Built 1971 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,500/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$565
• HOA: −$0
• Vac / Maint / Mgmt: −$735
• Net cashflow: $422/mo
• Annual: $5,067/yr
• Cap rate: 7.79%
• Cash-on-cash: 5.34%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $94,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $339k.
• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• It's been on market 31 days — a 3% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $329k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#456 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime D-, amenities F.
• Fannin County (rural): math 40% / reading 39% proficiency, ranked #51 of 174 in GA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Fannin Elementary School (math 42% / reading 32%, grade F, #485 of 1,228 statewide, top 41%, 415 students, 63% FRL).
• Market conditions: 306 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 375 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 21y 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 $152k; list at $339k implies a 122% gain — meaningful room to come down on a strong offer.
• Cap rate 7.8% vs local median 2.7% in Morganton — 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

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.