480 Sky High Dr · Sky Valley, GA 30537

$359,900

4 bd · 3.0 ba · 3,824 sqft · SingleFamily · 282 Days on market

Built 1981 0.50 ac lot $94/sqft · 24% below area Est $472k · 24% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.5/30.0
• Schools +3.6/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Motivated Seller Escape to Sky Valley, Georgia - the state's highest and coolest city - with this country club home. At 1,924 sq ft, it includes 4 bedrooms, 3 bathrooms, a stone fireplace in the living area. Venture outdoors to discover the true magic: two expansive levels of wrap-around decks that offer panoramic mountain views, perfect for year-round enjoyment. Start your day with a steaming cup of coffee as the sun rises over the peaks, host lively barbecues with friends in the summer breeze, or stargaze under clear night skies - these decks aren't just an extension of the home; they're a gateway to nature's splendor, blending indoor comfort with outdoor adventure seamlessly. As a resident, you'll have effortless access to premium resort amenities just minutes away, including a challenging golf course for honing your swing, a welcoming clubhouse for social events, tennis courts for friendly matches, a refreshing pool for summer dips, and a soothing hot tub to melt away the day's stresses. Beyond the community, endless outdoor pursuits await - from hiking scenic trails and fishing in pristine streams to exploring nearby waterfalls and wildlife. And for a touch of culture and convenience, the enchanting town of Highlands, North Carolina, is only a short, scenic drive away, offering boutique shopping, gourmet dining, artisanal galleries, and seasonal festivals that add a layer of sophistication to your mountain lifestyle. Sold mostly furnished (excluding family heirlooms and personal items), this mountain retreat offers relaxation and recreation. If you've been dreaming of an inexpensive high elevation mountain retreat with community perks, this is your chance. Bring all offers today.

Key facts

• Community amenities
• Stone fireplace
• Club house

Tags

• STONE FIREPLACE
• WRAP-AROUND DECKS
• MOUNTAIN VIEWS
• COMMUNITY AMENITIES
• GOLF COURSE
• CLUB HOUSE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-768 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (30.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (39.5% below list).
• Recommended offer: $218k (39.5% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 2.4% in Sky Valley — 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 53/100 on livability (#559 in GA) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A, cost of living B; Watch: amenities F, commute F, employment 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: 96 active listings in the ZIP; 147 units permitted in Rabun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Rabun County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 282 days — a 12% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $248k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $217,596 (39.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 282 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.60% ✗
• Cap rate: 3.73%
• Cash-on-cash: -9.15%
• DSCR: 0.59
• GRM: 13.8

CMA / ARV

• ARV (median comp): $471,575
• List price: $359,900
• Delta: -23.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
623 Overlook Way	0.65mi	4/4.5	3,834 (+0%)	10mo	$750,000	$196	55
334 Eagle Cir	0.33mi	3/3.0 (-1)	3,296 (-14%)	4mo	$381,000	$116	54
249 Dalton Dr	0.71mi	4/4.5	3,969 (+4%)	3mo	$970,000	$244	52
129 Saddleback Cir	0.62mi	5/3.0 (+1)	3,360 (-12%)	8mo	$535,000	$159	39

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.46×
• Total profit: $147,118
• Equity at exit: $324,226

10-year hold

• IRR: 16.7%
• Equity multiple: 5.68×
• Total profit: $471,779
• Equity at exit: $699,207

Cash invested: $100,772 (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 →

ZIP-level market 30537

• Home prices YoY: 29.7%
• Active inventory: 96
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,176 medium
• Mortgage (P&I): −$1,887
• Tax est. 1.5%: −$450 /mo · $5,398/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $-768

Break-even live

Break-even rent $3,148

Max offer price $248,743

Occupancy floor —

Sensitivity live

Price	-10% $-519	-5% $-644	+0% $-768	+5% $-893	+10% $-1,017
Rent	-10% $-940	-5% $-854	+0% $-768	+5% $-682	+10% $-596
Rate	-1.0pp $-587	-0.5pp $-677	base $-768	+0.5pp $-861	+1.0pp $-956

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $359,900 Active 282 DOM
2. 2026-06-21
   days on market $359,900 Active 281 DOM
3. 2026-06-18
   days on market $359,900 Active 279 DOM
4. 2026-06-17
   days on market $359,900 Active 278 DOM
5. 2026-06-16
   days on market $359,900 Active 277 DOM
6. 2026-06-15
   days on market $359,900 Active 276 DOM
7. 2026-06-13
   days on market $359,900 Active 274 DOM
8. 2026-06-12
   days on market $359,900 Active 273 DOM
9. 2026-06-09
   days on market $359,900 Active 270 DOM
10. 2026-06-08
    days on market $359,900 Active 269 DOM
11. 2026-06-07
    days on market $359,900 Active 268 DOM
12. 2026-06-07
    days on market $359,900 Active 267 DOM
13. 2026-06-04
    days on market $359,900 Active 264 DOM
14. 2026-06-02
    days on market $359,900 Active 263 DOM
15. 2026-06-01
    days on market $359,900 Active 262 DOM
16. 2026-05-31
    days on market $359,900 Active 261 DOM
17. 2026-05-31
    days on market $359,900 Active 260 DOM
18. 2025-11-21
    price $359,900 1715-char remark

    Show marketing remark (1715 chars)

    Motivated Seller Escape to Sky Valley, Georgia - the state's highest and coolest city - with this country club home. At 1,924 sq ft, it includes 4 bedrooms, 3 bathrooms, a stone fireplace in the living area. Venture outdoors to discover the true magic: two expansive levels of wrap-around decks that offer panoramic mountain views, perfect for year-round enjoyment. Start your day with a steaming cup of coffee as the sun rises over the peaks, host lively barbecues with friends in the summer breeze, or stargaze under clear night skies - these decks aren't just an extension of the home; they're a gateway to nature's splendor, blending indoor comfort with outdoor adventure seamlessly. As a resident, you'll have effortless access to premium resort amenities just minutes away, including a challenging golf course for honing your swing, a welcoming clubhouse for social events, tennis courts for friendly matches, a refreshing pool for summer dips, and a soothing hot tub to melt away the day's stresses. Beyond the community, endless outdoor pursuits await - from hiking scenic trails and fishing in pristine streams to exploring nearby waterfalls and wildlife. And for a touch of culture and convenience, the enchanting town of Highlands, North Carolina, is only a short, scenic drive away, offering boutique shopping, gourmet dining, artisanal galleries, and seasonal festivals that add a layer of sophistication to your mountain lifestyle. Sold mostly furnished (excluding family heirlooms and personal items), this mountain retreat offers relaxation and recreation. If you've been dreaming of an inexpensive high elevation mountain retreat with community perks, this is your chance. Bring all offers today.

19. 2025-09-09
    listed $399,900 Active 1320-char remark

    Show marketing remark (1320 chars)

    Welcome to your getaway in the heart of Sky Valley, Georgia—known as the state’s highest and coolest city! This comfortable country club home offers everything you need, whether you’re looking for a private retreat or a place to bring family and friends together. Inside, you’ll find 1,924 square feet of living space with four bedrooms and three bathrooms, giving everyone plenty of room to relax. The spacious living area is anchored by a beautiful stone fireplace—ideal for cozy evenings while you watch the seasons change. Step outside to enjoy two levels of wrap-around decks, where you can soak in stunning mountain views and enjoy the fresh air all year round. Whether you’re sipping coffee in the morning or relaxing in the evening, these decks are the spot to be. As part of the community, you’re just minutes from the resort amenities like a golf course, club house, tennis, pool and hot tub. There are also plenty of outdoor adventures nearby, plus the charming town of Highlands just a short drive away for shopping, dining, and exploring. Home is being sold fully furnished with the exception of family heirlooms and personal items. If you’ve been searching for a mountain home that offers both relaxation and fun, this Sky Valley property is a fantastic find

20. 2025-08-13
    listed $399,900 New 1715-char remark

    Show marketing remark (1715 chars)

    Motivated Seller Escape to Sky Valley, Georgia - the state's highest and coolest city - with this country club home. At 1,924 sq ft, it includes 4 bedrooms, 3 bathrooms, a stone fireplace in the living area. Venture outdoors to discover the true magic: two expansive levels of wrap-around decks that offer panoramic mountain views, perfect for year-round enjoyment. Start your day with a steaming cup of coffee as the sun rises over the peaks, host lively barbecues with friends in the summer breeze, or stargaze under clear night skies - these decks aren't just an extension of the home; they're a gateway to nature's splendor, blending indoor comfort with outdoor adventure seamlessly. As a resident, you'll have effortless access to premium resort amenities just minutes away, including a challenging golf course for honing your swing, a welcoming clubhouse for social events, tennis courts for friendly matches, a refreshing pool for summer dips, and a soothing hot tub to melt away the day's stresses. Beyond the community, endless outdoor pursuits await - from hiking scenic trails and fishing in pristine streams to exploring nearby waterfalls and wildlife. And for a touch of culture and convenience, the enchanting town of Highlands, North Carolina, is only a short, scenic drive away, offering boutique shopping, gourmet dining, artisanal galleries, and seasonal festivals that add a layer of sophistication to your mountain lifestyle. Sold mostly furnished (excluding family heirlooms and personal items), this mountain retreat offers relaxation and recreation. If you've been dreaming of an inexpensive high elevation mountain retreat with community perks, this is your chance. Bring all offers today.

21. 2025-07-31
    historical
22. 2025-03-28
    historical
23. 2025-03-12
    price $409,000
24. 2025-02-27
    price $435,000
25. 2025-01-30
    listed $409,000 New
26. 2025-01-30
    listed $450,000 New
27. 2021-05-07
    soldstatus $248,500
28. 2021-04-16
    soldstatus $248,500 Closed
29. 2020-12-21
    listed $249,900
30. 2020-12-19
    listed $249,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,112
• − Mortgage interest: −$20,160
• − Property taxes: −$5,398
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,089
• − Management: −$2,089
• − Depreciation: −$10,470
• Taxable loss: −$15,894
• Est. tax savings @ 24.0%: +$3,815
• After-tax cash flow: $-5,404/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.

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

Livability — Sky Valley

• Score: 53/100
• State rank: #559
• US rank: #24561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sky Valley, GA
• City population: 1,278
• Population (ZIP): 1,278

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 (86%)
• Race & ethnicity: White 86% Asian 10% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Serbian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 12% · Canada
• Languages at home: 85% English-only · Other Indo-European 10% Spanish 4% German/W. Germanic 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: ▲ 59.68%
• Current HPI: 260.55
• 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

Price history

+44.0% since first listed

13 events — show timeline

• 2025-11-21 Price Changed $359,900 GAMLS
• 2025-09-09 Listed $399,900 HCMLS
• 2025-08-13 Listed $399,900 GAMLS
• 2025-07-31 Listing Removed — GAMLS
• 2025-03-28 Listing Removed — GAMLS
• 2025-03-12 Price Changed $409,000 GAMLS
• 2025-02-27 Price Changed $435,000 GAMLS
• 2025-01-30 Listed $450,000 GAMLS
• 2025-01-30 Listed $409,000 GAMLS
• 2021-05-07 Sold (MLS) $248,500 HCMLS
• 2021-04-16 Sold (MLS) $248,500 CSAOR
• 2020-12-21 Listed $249,900 CSAOR
• 2020-12-19 Listed $249,900 HCMLS