1322 Ralston St · Gainesville, GA 30501

$179,000

2 bd · 1.0 ba · 1,041 sqft · SingleFamily public records · 87 Days on market

Built 1945 7,405 sqft lot $172/sqft · 25% below area Est $239k · 25% under

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

• Cash flow +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.4/10.0
• Rent growth +3.6/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special with strong value-add potential in an established Gainesville location. This property offers renovation or rental opportunity with existing structure in place and off-street access. Level lot with public water and sewer already connected, providing added redevelopment or improvement flexibility. Conveniently located approximately 1.5 miles to Downtown Gainesville Square, about 2 miles to Northeast Georgia Medical Center, and within 3 miles of I-985 access and the Jesse Jewell Parkway retail and dining corridor. Proximity to major employment, medical, and commercial centers supports long-term rental demand.

Key facts

• Public sewer
• Off-street access
• Level lot

Tags

• RENOVATION OPPORTUNITY
• OFF-STREET ACCESS
• LEVEL LOT
• PUBLIC WATER
• PUBLIC SEWER
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/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 $167k (6.4% below list).
• Recommended offer: $167k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 2.7% in Gainesville — 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 66/100 on livability (#181 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-; Watch: amenities D+, schools F, crime F.
• Gainesville City (urban): math 23% / reading 25% proficiency, ranked #130 of 174 in GA (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 251 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,274 units permitted in Hall County in 2024 (620 in 5+ unit buildings).
• This rent runs 31% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hall County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 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 $18k; list at $179k implies a 884% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,472 (6.4% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 0.94% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 8.9

CMA / ARV

• ARV (median comp): $239,481
• List price: $179,000
• Delta: -25.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1322 Ralston St	0.00mi	2/1.0	1,041 (0%)	1mo	$100,000	$96	99
1529 Browns Bridge Avenue Ave	0.63mi	2/1.0	1,104 (+6%)	9mo	$262,000	$237	53

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

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-12,663
• Equity at exit: $26,689

10-year hold

• IRR: 4.5%
• Equity multiple: 1.35×
• Total profit: $17,684
• Equity at exit: $15,477

Cash invested: $50,120 (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 30501

• Rents YoY: 4.5%
• Active inventory: 251
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,675 high
• Mortgage (P&I): −$939
• Tax from tax record: −$94 /mo · $1,127/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $216

Break-even live

Break-even rent $1,402

Max offer price $179,000

Occupancy floor 82%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 Shallowford Rd NW Gainesville, GA	2.0–4.0	2.5	1859	$1,950	$1.05	13d	85	0.47mi
703 West Ave Gainesville, GA	1.0–2.0	1.0	825	$1,275	$1.55	13d	9	0.74mi
915 Washington St SW Gainesville, GA	2.0	2.0	1182	$1,650	$1.40	13d	1	0.79mi
915 Washington St NW Unit 917-15 Gainesville, GA	2.0	2.0	1182	$1,650	$1.40	20d	1	0.80mi
2100 Saint Thomas Dr Gainesville, GA	1.0–2.0	1.0–2.0	906	$2,249	$2.48	13d	20	0.85mi
700 Washington St NW Gainesville, GA	1.0–2.0	1.0–2.0	812	$1,644	$2.02	13d	6	0.95mi
1000 Rea Dr SW Gainesville, GA	2.0	1.0–2.0	938	$1,995	$2.13	13d	13	1.01mi
1000 Everly Way Gainesville, GA	3.0	1.0–2.0	1007	$2,013	$2.00	13d	15	1.14mi
415 Adair St Gainesville, GA	2.0	1.0–2.0	900	$1,450	$1.61	13d	4	1.20mi
114 Washington St SE Unit 302 Gainesville, GA	1.0	1.0	800	$1,200	$1.50	43d	1	1.22mi
1100 Park Creek Ct Gainesville, GA	1.0–3.0	1.0–2.0	971	$1,548	$1.59	13d	26	1.32mi
565 North Ave Apt 17 Gainesville, GA	2.0	2.0	942	$1,550	$1.65	20d	1	1.36mi

Listing history 4 events

1. 2026-05-19
   status Under Contract 634-char remark

   Show marketing remark (634 chars)

   Investor special with strong value-add potential in an established Gainesville location. This property offers renovation or rental opportunity with existing structure in place and off-street access. Level lot with public water and sewer already connected, providing added redevelopment or improvement flexibility. Conveniently located approximately 1.5 miles to Downtown Gainesville Square, about 2 miles to Northeast Georgia Medical Center, and within 3 miles of I-985 access and the Jesse Jewell Parkway retail and dining corridor. Proximity to major employment, medical, and commercial centers supports long-term rental demand.

2. 2026-02-25
   listed $179,000 New 634-char remark

   Show marketing remark (634 chars)

   Investor special with strong value-add potential in an established Gainesville location. This property offers renovation or rental opportunity with existing structure in place and off-street access. Level lot with public water and sewer already connected, providing added redevelopment or improvement flexibility. Conveniently located approximately 1.5 miles to Downtown Gainesville Square, about 2 miles to Northeast Georgia Medical Center, and within 3 miles of I-985 access and the Jesse Jewell Parkway retail and dining corridor. Proximity to major employment, medical, and commercial centers supports long-term rental demand.

3. 2026-02-25
   listed $179,000 Active 634-char remark

   Show marketing remark (634 chars)

   Investor special with strong value-add potential in an established Gainesville location. This property offers renovation or rental opportunity with existing structure in place and off-street access. Level lot with public water and sewer already connected, providing added redevelopment or improvement flexibility. Conveniently located approximately 1.5 miles to Downtown Gainesville Square, about 2 miles to Northeast Georgia Medical Center, and within 3 miles of I-985 access and the Jesse Jewell Parkway retail and dining corridor. Proximity to major employment, medical, and commercial centers supports long-term rental demand.

4. 1993-02-15
   soldstatus $18,200

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

Tax reassessment forecast GA · Resets to sale price

• Current annual tax: $1,127 · $94/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: +$520/yr (+$43/mo · 46.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,097
• − Mortgage interest: −$10,027
• − Property taxes: −$1,127
• − Insurance: −$895
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$5,207
• Taxable loss: −$375
• Est. tax savings @ 24.0%: +$90
• After-tax cash flow: $2,680/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: Gainesville City
• NCES district ID: 1302310
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 25% ▼ -2.00%
• Median HH income: $40,331
• Composite: 20.3/100
• National rank: #8614
• State rank: #130 of 174 in GA

Livability — Gainesville

• Score: 66/100
• State rank: #181
• US rank: #11362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gainesville, GA
• County: Hall County · 188,353 people
• City population: 140,301
• Metro: Gainesville, GA
• Population (ZIP): 32,258
• Household income: $64,175
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 2055.0

Population outlook (Hall County) Hauer SSP2

• Today (2025): 225,275 people
• By 2030: 240,204 · +6.6%
• By 2040: 268,440 · +19.2%
• By 2050: 293,596 · +30.3%
• By 2075: 350,293 · +55.5%
• By 2100: 389,329 · +72.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 42% Hispanic / Latino 39% Two or more races 18% Black 12% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 21% · Canada
• Languages at home: 62% English-only · Spanish 35% French/Haitian/Cajun 1%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+43.8) · D 27.8% · R 71.6%
• 2008→2024 swing: +7.1pp toward D · 2008: -50.9pp · 2024: -43.8pp
• All cycles: 2024: R+43.8 2020: R+43.2 2016: R+50.7 2012: R+56.4 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.22%
• Current HPI: 286.1181
• Rent YoY: ▲ 4.55%
• Metro: Gainesville, GA
• 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

+883.5% since first listed

4 events — show timeline

• 2026-05-19 Pending — GAMLS
• 2026-02-25 Listed $179,000 FMLS
• 2026-02-25 Listed $179,000 GAMLS
• 1993-02-15 Sold (Public Records) $18,200 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,127 · -3.1% YoY. Source: county tax records.