919 New Hope Rd · Morganton, GA 30560

$399,900

4 bd · 2.5 ba · 1,664 sqft · SingleFamily public records · 24 Days on market

Built 2000 1.70 ac lot $240/sqft · 45% below area Est $730k · 45% 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
• Cash flow +9.6/30.0
• Schools +3.3/10.0
• 1% rule +2.9/10.0
• Livability +2.9/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Amazing cabin with creek frontage!!! This rustic cabin is exactly what you are looking for when you come to stay in the cool weather of the North Georgia Mountains. Circle drive and plenty of parking for friends and family. This 1.7 acre wooded lot offers tons of privacy and very little maintenance. Plenty of deck space for entertaining and a beautiful fire pit to enjoy.

Key facts

• 1.7 acre lot
• Garage
• Built 2000

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Detached carport; Open/gravel parking
• Utilities: Well water; Septic tank
• Home design: Two-story residential home; Built in 2000; Resale condition
• Construction: Frame construction with wood siding; Metal roof; Crawl space foundation
• Exterior features: Front covered porch; Storage; RV hookup; Fire pit; Barn(s); Generator; Sloping topography; On waterfront (branch)

Interior

• Kitchen: Refrigerator; Range; Microwave; Dishwasher
• Bedrooms: Main level: 2 bedrooms; Upper level: 2 bedrooms; Master bedroom on the main level
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms; 1 partial bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Two gas-log fireplaces
• Laundry & utility: Washer and dryer included; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-273 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $360k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $315k (21.2% below list).
• Recommended offer: $315k (21.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.1% in Morganton — 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 57/100 on livability (#456 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, crime D-, amenities F.
• Fannin County (rural): math 40% / reading 39% proficiency, ranked #51 of 174 in GA (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Fannin Elementary School (math 42% / reading 32%, grade F, #485 of 1,228 statewide, top 41%, 415 students, 63% FRL); Fannin County Middle School (math 41% / reading 43%, grade D-, #126 of 470 statewide, top 28%, 619 students, 53% FRL); Fannin County High School (math 27% / reading 47%, grade F, #68 of 424 statewide, top 17%, 900 students, 44% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 310 active listings in the ZIP; 375 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $114k; list at $400k implies a 252% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,208 (21.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
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: 0.79% ✗
• Cap rate: 5.47%
• Cash-on-cash: -2.93%
• DSCR: 0.87
• GRM: 10.6

CMA / ARV

• ARV (median comp): $729,717
• List price: $399,900
• Delta: -45.20%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-82,171
• Equity at exit: $59,626

10-year hold

• IRR: -14.6%
• Equity multiple: 0.16×
• Total profit: $-93,788
• Equity at exit: $34,576

Cash invested: $111,972 (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 30560

• Home prices YoY: -9.6%
• Active inventory: 310
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,152 medium
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $-273

Break-even live

Break-even rent $3,498

Max offer price $360,328

Occupancy floor —

Sensitivity live

Price	-10% $3	-5% $-135	+0% $-273	+5% $-412	+10% $-550
Rent	-10% $-522	-5% $-398	+0% $-273	+5% $-149	+10% $-24
Rate	-1.0pp $-72	-0.5pp $-172	base $-273	+0.5pp $-377	+1.0pp $-483

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-31
   status $399,900 Pending 24 DOM
2. 2026-05-31
   days on market $399,900 Active 24 DOM
3. 2026-05-31
   days on market $399,900 Active 23 DOM
4. 2026-05-06
   listed $399,900 Active 857-char remark
5. 2015-04-28
   soldstatus $113,500
6. 2015-04-24
   soldstatus $110,000 373-char remark

   Show marketing remark (373 chars)

   Amazing cabin with creek frontage!!! This rustic cabin is exactly what you are looking for when you come to stay in the cool weather of the North Georgia Mountains. Circle drive and plenty of parking for friends and family. This 1.7 acre wooded lot offers tons of privacy and very little maintenance. Plenty of deck space for entertaining and a beautiful fire pit to enjoy.

7. 2014-09-19
   listed $119,900 373-char remark

   Show marketing remark (373 chars)

   Amazing cabin with creek frontage!!! This rustic cabin is exactly what you are looking for when you come to stay in the cool weather of the North Georgia Mountains. Circle drive and plenty of parking for friends and family. This 1.7 acre wooded lot offers tons of privacy and very little maintenance. Plenty of deck space for entertaining and a beautiful fire pit to enjoy.

8. 2012-08-17
   soldstatus $48,000

   Show marketing remark (412 chars)

   All Reasonable Offers to be Considered. .. .. Rustic cabin in the woods with rock fireplace, 3 or 4 bedrooms and 2 full baths on 1.7 acres. Sold as is - where is, with all faults, no post closing repairs or payments for any reason. Selling broker must have NAID#. Go to www. hometelosfirst.com to learn more about this property. Case # 105-464357. Septic is for a 3 BR. All reasonable offers considered, bid now.

9. 2012-04-09
   listed $68,850

   Show marketing remark (412 chars)

   All Reasonable Offers to be Considered. .. .. Rustic cabin in the woods with rock fireplace, 3 or 4 bedrooms and 2 full baths on 1.7 acres. Sold as is - where is, with all faults, no post closing repairs or payments for any reason. Selling broker must have NAID#. Go to www. hometelosfirst.com to learn more about this property. Case # 105-464357. Septic is for a 3 BR. All reasonable offers considered, bid now.

10. 2006-12-06
    soldstatus $149,000
11. 2006-11-30
    soldstatus $149,000
12. 2006-09-18
    listed $149,000
13. 2005-02-18
    soldstatus $88,000
14. 2001-07-20
    soldstatus $18,000

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥99°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,825
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,026
• − Management: −$3,026
• − Depreciation: −$11,633
• Taxable loss: −$10,259
• Est. tax savings @ 24.0%: +$2,462
• After-tax cash flow: $-820/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: Fannin County
• NCES district ID: 1302100
• Math proficiency: 40% ▼ -7.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $37,693
• Composite: 32.92/100
• National rank: #5597
• State rank: #51 of 174 in GA

Livability — Morganton

• Score: 57/100
• State rank: #456
• US rank: #21670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,194

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 25,218 people
• By 2030: 25,519 · +1.2%
• By 2040: 25,548 · +1.3%
• By 2050: 25,008 · -0.8%
• By 2075: 23,359 · -7.4%
• By 2100: 20,129 · -20.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Scottish 3% Lithuanian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+64.8) · D 17.4% · R 82.2%
• 2008→2024 swing: -15.7pp toward R · 2008: -49.1pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+64.6 2016: R+65.5 2012: R+58.2 2008: R+49.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.58%
• Current HPI: 316.822
• 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

+2121.7% since first listed

12 events — show timeline

• 2026-05-31 Pending — NEGBOR
• 2026-05-06 Listed $399,900 NEGBOR
• 2015-04-28 Sold (Public Records) $113,500 Public Records
• 2015-04-24 Sold (MLS) $110,000 NEGBOR
• 2014-09-19 Listed $119,900 NEGBOR
• 2012-08-17 Sold (MLS) $48,000 NEGBOR
• 2012-04-09 Listed $68,850 NEGBOR
• 2006-12-06 Sold (Public Records) $149,000 Public Records
• 2006-11-30 Sold (MLS) $149,000 NEGBOR
• 2006-09-18 Listed $149,000 NEGBOR
• 2005-02-18 Sold (Public Records) $88,000 Public Records
• 2001-07-20 Sold (Public Records) $18,000 Public Records

Property tax history

-36.7%/yr

Latest (2025): $7 · -81.2% YoY. Source: county tax records.