Is 59 37th St in Ellijay, GA a good investment?

CashFlowRE grades it B+ with a 14.1% cap rate and $383/mo modeled cash flow at a $69,000 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 59 37th St?

The modeled cap rate is 14.1% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,214/month, from CashFlowRE's rent model.

B+ Composite 76.7

Why this score? — see what drove the B+ 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 +30.0/30.0
ARV discount +15.0/15.0
1% rule +10.0/10.0
DSCR +10.0/10.0
Livability +3.6/5.0
Schools +3.4/10.0
Rent growth +2.5/5.0
Condition / age +2.2/5.0
Appreciation +0.0/10.0

$69,000

59 37th St · Ellijay, GA 30540

2 bd · 1.0 ba · 400 sqft · SingleFamily · 138 Days on market

Built 2019 Fair condition 3,484 sqft lot $172/sqft · 32% below area Est $101k · 32% under $99/mo HOA · 8% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Great Lot! Long and Level. This lot has room to accommodate the longest RVs allowed in Coosawattee River Resort. Just minutes to the Legion Rd Gate of the resort. Cool too that it is a super short walk to the Riverside Pool area featuring the Riverside Pool + Dog Park and foot bridge w/ crossing access to Fishtrap Park and its picnic pavilions and Kids Play areas. All resort amenities (see pics) available including Rec Center with indoor/outdoor 365 pool, game room, exercise room, putt putt, pickleball, tennis, basketball, 2 outside pools, small fishing lake, 5 parks on the river, walking trail and more. This lot is connected to a massive POA Greenspace Common area that adds loads of privacy. Come play or live full time in the mountains.

Key facts

Covered deck
Fitness center
Wooded views

What this means for you Summary

Snapshot

This is a 2-bed/1.0-bath single-family listed at $69k. Condition is rated fair.

Deal economics

At list price, monthly cash flow is $383 ($5k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($1k rent vs $69k).
Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
Cap rate 14.1% vs local median 1.9% in Ellijay — 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 71/100 on livability (#85 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
Gilmer County (rural): math 39% / reading 36% proficiency, ranked #56 of 174 in GA (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
Zoned schools: Mountain View Elementary (math 47% / reading 29%, grade F, #469 of 1,228 statewide, top 38%, 668 students, 67% FRL); Clear Creek Middle School (math 39% / reading 39%, grade F, #155 of 470 statewide, top 33%, 917 students, 63% FRL); Gilmer High School (math 12% / reading 38%, grade F, #181 of 424 statewide, top 43%, 1,174 students, 51% FRL) — zoned schools at 61% FRL track the district average.
Market conditions: 1445 active listings in the ZIP; 176 units permitted in Gilmer County in 2024 (74 in 5+ unit buildings).

Forward outlook

Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
Gilmer County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

It's been on market 138 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
4 sale attempts since 5y ago; this cycle's ask has dropped $7k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $40k; list at $69k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

Watch-outs: flood insurance adds $66/mo.
Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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?
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.

Investment metrics

1% rule: 1.76% ✓
Cap rate: 14.11%
Cash-on-cash: 27.93%
DSCR: 2.24
GRM: 4.7

CMA / ARV

ARV (median comp): $100,942
List price: $69,000
Delta: -31.64%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 37th St	0.01mi	1/1.0 (-1)	400 (0%)	12mo	$50,000	$125	84
151 25th St	0.19mi	1/1.0 (-1)	400 (0%)	5mo	$72,000	$180	82
183 14th St Unit C367	0.35mi	2/1.0	400 (0%)	8mo	$125,000	$313	77
183 14th St	0.35mi	2/1.0	400 (0%)	8mo	$125,000	$313	77
152 33rd St	0.24mi	1/1.0 (-1)	408 (+2%)	6mo	$157,000	$385	75
73 10th St	0.34mi	2/1.0	400 (0%)	12mo	$119,000	$298	74
352 10th St	0.25mi	1/1.5 (-1)	420 (+5%)	14mo	$155,000	$369	61
32 7th St	0.57mi	1/1.0 (-1)	400 (0%)	11mo	$100,000	$250	60
16 23rd St	0.40mi	1/1.0 (-1)	408 (+2%)	16mo	$136,000	$333	60
78 21st St	0.49mi	1/1.0 (-1)	450 (+12%)	1mo	$150,000	$333	50
252 6th St Unit C154	0.71mi	1/1.0 (-1)	400 (0%)	17mo	$58,500	$146	48
68 7th St	0.61mi	1/1.5 (-1)	440 (+10%)	1mo	$72,000	$164	47

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 · 3.0% rent growth · sell at horizon

5-year hold

IRR: 17.1%
Equity multiple: 1.69×
Total profit: $13,310
Equity at exit: $10,288

10-year hold

IRR: 25.6%
Equity multiple: 3.24×
Total profit: $43,345
Equity at exit: $5,966

Cash invested: $19,320 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 16 active · 4 under contract
Months of supply: 24.0 mo (4%/mo absorbed)
Median asking: $112,400 ($300/sqft)
Median days on market: 182 d
This list price: 12% of active listings are priced below it
ARV vs active asking: -15.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 30540

Home prices YoY: -11.0%
Active inventory: 1445
Price-to-rent: 4.7×

Monthly cashflow live

Estimated rent: $1,214 medium interval (Pro) →
Mortgage (P&I): −$362
Tax from tax record: −$20 /mo · $236/yr
Insurance: −$29
Flood insurance flood zone: −$66 /mo · $798/yr
HOA: −$99
Lot rent: −$0
Vacancy / Maint / Mgmt: −$255
Net cashflow: $383

Break-even live

Break-even rent $729

Max offer price $69,000

Occupancy floor 63%

Sensitivity live

Price	-10% $422	-5% $403	+0% $383	+5% $364	+10% $344
Rent	-10% $287	-5% $335	+0% $383	+5% $431	+10% $479
Rate	-1.0pp $418	-0.5pp $401	base $383	+0.5pp $365	+1.0pp $347

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: $17,250
Closing costs: $2,070
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Property features AI

Finance

Other: Property located in Coosawattee CampgroundRoad surface type: gravelWater body: CoosawatteeTopography includes level, sloping, rolling, wooded areas
HOA & community: Homeowners association with annual fee of $1,188Community features include tennis courts, fitness center, gated access, pool, river access, pickleball, and playground

Exterior

Parking: Driveway with gravel surfaceAdditional parking: see remarksOpen parking available
Utilities: Community waterCommunity sewer
Home design: Residential property, resaleBuilt in 2019Has a view
Construction: Construction materials: see remarksRoof: see remarksNo basement
Exterior features: StorageGardenPrivate yardRV hookupRetaining wallsCommunity pool

Interior

Kitchen: See remarks for appliance and kitchen details
Bedrooms: Primary bedroom located on the main level
Flooring: See remarks for flooring
Bathrooms: 1 full bathroom
Heating & cooling: Heating details: see remarksCentral air conditioning
Interior features: See remarks for interior details and fireplace information
Laundry & utility: See remarks for laundry features

HOA detail $99/mo · $1,188/yr

Likely covers: pool

Listing history 50 events

2026-09-23

days on market $69,000 Active 138 DOM
2026-09-22

days on market $69,000 Active 137 DOM
2026-09-21

days on market $69,000 Active 136 DOM
2026-09-20

days on market $69,000 Active 135 DOM
2026-09-19

days on market $69,000 Active 134 DOM
2026-09-18

days on market $69,000 Active 133 DOM
2026-09-17

days on market $69,000 Active 132 DOM
2026-09-16

days on market $69,000 Active 131 DOM
2026-09-15

days on market $69,000 Active 130 DOM
2026-09-14

days on market $69,000 Active 129 DOM
2026-09-13

days on market $69,000 Active 128 DOM
2026-09-12

days on market $69,000 Active 127 DOM
2026-09-11

days on market $69,000 Active 126 DOM
2026-09-05

days on market $69,000 Active 120 DOM
2026-09-04

days on market $69,000 Active 119 DOM
2026-09-03

pricedays on market $69,000 Active 118 DOM
2026-08-30

days on market $76,000 Active 114 DOM
2026-08-29

days on market $76,000 Active 113 DOM
2026-08-28

days on market $76,000 Active 112 DOM
2026-08-27

days on market $76,000 Active 111 DOM
2026-08-26

days on market $76,000 Active 110 DOM
2026-08-25

days on market $76,000 Active 109 DOM
2026-08-24

days on market $76,000 Active 108 DOM
2026-08-23

days on market $76,000 Active 107 DOM
2026-08-22

days on market $76,000 Active 106 DOM
2026-08-21

days on market $76,000 Active 105 DOM
2026-08-20

days on market $76,000 Active 104 DOM
2026-08-19

days on market $76,000 Active 103 DOM
2026-08-18

days on market $76,000 Active 102 DOM
2026-08-17

days on market $76,000 Active 101 DOM
2026-08-16

days on market $76,000 Active 100 DOM
2026-08-15

days on market $76,000 Active 99 DOM
2026-08-15

days on market $76,000 Active 98 DOM
2026-08-13

days on market $76,000 Active 97 DOM
2026-08-12

days on market $76,000 Active 96 DOM
2026-08-11

days on market $76,000 Active 95 DOM
2026-08-10

days on market $76,000 Active 94 DOM
2026-08-09

days on market $76,000 Active 93 DOM
2026-08-08

days on market $76,000 Active 92 DOM
2026-08-07

days on market $76,000 Active 91 DOM
2026-08-06

days on market $76,000 Active 90 DOM
2026-08-05

days on market $76,000 Active 89 DOM
2026-08-04

days on market $76,000 Active 88 DOM
2026-08-03

days on market $76,000 Active 87 DOM
2026-07-31

days on market $76,000 Active 84 DOM
2026-07-30

days on market $76,000 Active 83 DOM
2026-07-29

days on market $76,000 Active 82 DOM
2026-07-27

days on market $76,000 Active 80 DOM
2026-07-25

days on market $76,000 Active 78 DOM
2026-07-24

days on market $76,000 Active 77 DOM

ⓘ 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: $236 · $20/mo
Projected year-2 tax: $635 · $53/mo
Expected delta: +$399/yr (+$33/mo · 168.9%)

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

Climate risk First Street

🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
🔥 Wildfire 3/10 Moderate
🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $14,567
− Mortgage interest: −$3,865
− Property taxes: −$236
− Insurance: −$1,142
− Repairs & maintenance: −$1,165
− Management: −$1,165
− HOA: −$1,188
− Depreciation: −$2,007
Taxable income: $3,798

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$911
After-tax cash flow: $3,688/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.

Condition & rehab AI · 9 photos

Fair 45/100 Cosmetic rehab Est. rehab $2,000–$6,000 screening

This RV is a charming mountain retreat with a fair condition, requiring minor repairs and maintenance to enhance its resale and rental value.

Components & finishes AI

Roof metal · good Flooring wood

Repairs flagged

Minor Exterior siding — Siding appears faded and may need repainting.
Minor Landscaping — Natural landscaping could benefit from trimming and maintenance.

Value-add opportunities

Both Painting exterior siding — Enhances curb appeal and value. ↑
Both Landscaping maintenance — Improves curb appeal and enhances natural beauty. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 34/100

Zoned Schools

Elementary Mountain View Elementary F GA #469/1,228 Nat'l #21,128/41,679 Middle Clear Creek Middle School F GA #155/470 Nat'l #6,362/14,009 High Gilmer High School F GA #181/424 Nat'l #12,347/17,239

Schools (NCES district)

District: Gilmer County
NCES district ID: 1302340
Math proficiency: 39% ▼ -7.00%
Reading proficiency: 36% ▼ -6.00%
Median HH income: $40,473
Composite: 31.53/100
National rank: #5961
State rank: #56 of 174 in GA

B Composite livability gradescore 71/100

Livability — Ellijay

Score: 71/100
State rank: #85
US rank: #7087

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

County: Gilmer · 31,466 people
Population (ZIP): 20,145
Household income: $73,771
Rent vs Own: 20.3% rent · 79.7% own
Severe rent burden: 20% of renters

Population outlook (Gilmer County) Hauer SSP2

Today (2025): 31,466 people
By 2030: 32,199 · +2.3%
By 2040: 33,034 · +5.0%
By 2050: 33,266 · +5.7%
By 2075: 33,686 · +7.1%
By 2100: 33,792 · +7.4%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (85%)
Race & ethnicity: White 85% Hispanic / Latino 12% Two or more races 6% Native American 2%
Hispanic origin (detail): Mexican 6%
Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
Foreign-born: 6% · Canada, Jamaica
Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · Gilmer

2024 margin: Solid R (+62.6) · D 18.5% · R 81.0%
2008→2024 swing: -10.6pp toward R · 2008: -52.0pp · 2024: -62.6pp
All cycles: 2024: R+62.6 2020: R+63.5 2016: R+66.9 2012: R+63.3 2008: R+52.0

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -33.49%
Current HPI: 270.796
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
#203 WestRock Atlanta $19.3B #346 Graphic Packaging Holding Atlanta $9.4B
Retail	1	$160B
#24 Home Depot Atlanta $159.5B
Transportation / Logistics	1	$91B
#47 United Parcel Service Atlanta $91.1B
Airlines	1	$62B
#70 Delta Air Lines Atlanta $61.6B
Consumer Goods	1	$47B
#97 Coca-Cola Atlanta $47.1B
Utilities	1	$25B
#147 Southern Company Atlanta $24.9B

Price history

+280.0% since first listed

10 events — show timeline

2026-05-08 Listed $76,000 NEGBOR
2023-10-16 Sold (MLS) $39,500 NEGBOR
2023-10-08 Pending — NEGBOR
2023-09-02 Listed $42,900 NEGBOR
2023-08-29 Sold (MLS) $27,000 GAMLS
2023-07-31 Pending — GAMLS
2023-07-31 Listed $30,000 GAMLS
2021-10-28 Sold (MLS) $20,000 NEGBOR
2021-10-15 Delisted — NEGBOR
2021-09-30 Listed $19,999 NEGBOR

Property tax history

+18.9%/yr

Latest (2025): $236 · +27.0% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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