280 Northwoods Cir

Blairsville, GA 30512

$422,000D

3 bd · 3.0 ba · 1,883 sqft · Built 2002 · SingleFamily · Active · 124 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,300/mo
• Mortgage (P&I): −$2,213
• Tax + insurance: −$298
• HOA: −$0
• Vac / Maint / Mgmt: −$693
• Net cashflow: $96/mo
• Annual: $1,146/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• 1% rule: 0.78%
• Cash to close: $118,160

Investor read

• This is a 3-bed/3.0-bath single-family listed at $422k.
• At list price, monthly cash flow is $96 ($1k/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 $330k (21.8% below list).
• It's been on market 124 days — a 12% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $330k (21.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#73 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: housing C-, amenities D, commute F.
• Union County (rural): math 37% / reading 42% proficiency, ranked #48 of 174 in GA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Union County Primary School (776 students, 57% FRL); Union County Middle School (math 37% / reading 44%, grade F, #140 of 470 statewide, top 30%, 679 students, 44% FRL); Union County High School (math 52% / reading 47%, grade D, #30 of 424 statewide, top 7%, 887 students, 42% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 802 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 281 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts; this cycle's ask has dropped $28k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $365k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.6% vs local median 2.6% in Blairsville — 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 124 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.