92 No Where Rd

Blairsville, GA 30512

$175,000B-

3 bd · 2.0 ba · 1,020 sqft · Built 1974 · SingleFamily · Under Contract · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,895/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$398
• Net cashflow: $465/mo
• Annual: $5,583/yr
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• 1% rule: 1.08%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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; 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.
• 3 sale attempts since 17y 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 $52k; list at $175k implies a 237% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.5% 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

• Built in 1974 — 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.
• 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.