345 Banner Cir · Ellijay, GA 30540

$124,500

3 bd · 1.0 ba · 1,655 sqft · SingleFamily public records · 52 Days on market

Built 1992 1.92 ac lot $75/sqft · 52% below area ↓ 7% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

Key facts

• 1.92 spacious acres
• 1.92 acre lot
• 3 parking spots

Tags

• 1.92 SPACIOUS ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $564 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 1.8% 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, schools D-, amenities 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.
• Market conditions: 971 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 $861 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 7 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,765 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.39% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.42%
• DSCR: 1.86
• GRM: 6.0

CMA / ARV

• ARV (median comp): $259,266
• List price: $124,500
• Delta: -51.98%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Jetty Dr	0.46mi	4/2.0 (+1)	1,475 (-11%)	4mo	$250,000	$169	48
140 Jetty Dr	0.52mi	3/2.0	1,475 (-11%)	10mo	$259,000	$176	46
140 Jetty Dr	0.56mi	3/2.0	1,475 (-11%)	10mo	$259,000	$176	44

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: 11.4%
• Equity multiple: 1.45×
• Total profit: $15,745
• Equity at exit: $18,563

10-year hold

• IRR: 20.4%
• Equity multiple: 2.72×
• Total profit: $59,943
• Equity at exit: $10,764

Cash invested: $34,860 (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 30540

• Home prices YoY: -11.0%
• Active inventory: 971
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,735 medium
• Mortgage (P&I): −$653
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $564

Break-even live

Break-even rent $1,021

Max offer price $124,500

Occupancy floor 62%

Sensitivity live

Price	-10% $635	-5% $599	+0% $564	+5% $529	+10% $494
Rent	-10% $427	-5% $496	+0% $564	+5% $633	+10% $701
Rate	-1.0pp $627	-0.5pp $596	base $564	+0.5pp $532	+1.0pp $499

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: $31,125
• Closing costs: $3,735
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-05
   days on market $124,500 Active 52 DOM
2. 2026-06-03
   days on market $124,500 Active 51 DOM
3. 2026-06-02
   days on market $124,500 Active 50 DOM
4. 2026-06-01
   days on market $124,500 Active 49 DOM
5. 2026-05-31
   days on market $124,500 Active 48 DOM
6. 2026-05-31
   days on market $124,500 Active 47 DOM
7. 2026-05-11
   price $124,900 136-char remark

   Show marketing remark (136 chars)

   Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

8. 2026-05-11
   price $124,900 136-char remark

   Show marketing remark (136 chars)

   Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

9. 2026-05-05
   price $125,000 136-char remark

   Show marketing remark (136 chars)

   Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

10. 2026-05-05
    price $125,000 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

11. 2026-04-27
    price $125,900 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

12. 2026-04-27
    price $125,900 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

13. 2026-04-21
    price $128,000 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

14. 2026-04-21
    price $128,000 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

15. 2026-04-13
    listed $129,000 New 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

16. 2026-04-13
    listed $129,000 Active 136-char remark

    Show marketing remark (136 chars)

    Transform this property into something special. Convenient to beautiful Ellijay and located on 1.92 spacious acres. Property sold As-Is.

17. 2026-04-10
    historical
18. 2026-04-10
    historical
19. 2026-04-07
    price $133,500
20. 2026-04-07
    price $133,500
21. 2026-04-02
    price $135,000
22. 2026-04-02
    price $135,000
23. 2026-03-25
    price $137,500
24. 2026-03-25
    price $137,500
25. 2026-03-18
    price $138,500
26. 2026-03-18
    price $138,500
27. 2026-03-11
    price $138,900
28. 2026-03-11
    price $138,900
29. 2026-03-02
    price $140,000
30. 2026-03-02
    price $140,000
31. 2026-01-26
    price $141,900
32. 2026-01-26
    price $141,900
33. 2026-01-05
    listed $142,500 New
34. 2026-01-05
    listed $142,500 New
35. 2025-12-31
    historical
36. 2025-10-22
    listed $145,000 New
37. 2025-09-23
    historical
38. 2025-09-23
    historical
39. 2025-07-21
    price $149,900
40. 2025-06-23
    listed $159,900 New
41. 2025-06-23
    listed $159,900 Active
42. 2025-04-07
    soldstatus $135,000

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,220 · $102/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,818
• − Mortgage interest: −$6,974
• − Property taxes: −$1,220
• − Insurance: −$622
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$3,622
• Taxable income: $5,049
• Est. tax owed @ 24.0%: −$1,212
• After-tax cash flow: $5,557/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: 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

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

• Population (ZIP): 20,145

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
▸Retail	1	$160B
▸Transportation / Logistics	1	$91B
▸Airlines	1	$62B
▸Consumer Goods	1	$47B
▸Utilities	1	$25B

Price history

-7.5% since first listed

36 events — show timeline

• 2026-05-11 Price Changed $124,900 GAMLS
• 2026-05-11 Price Changed $124,900 FMLS
• 2026-05-05 Price Changed $125,000 GAMLS
• 2026-05-05 Price Changed $125,000 FMLS
• 2026-04-27 Price Changed $125,900 FMLS
• 2026-04-27 Price Changed $125,900 GAMLS
• 2026-04-21 Price Changed $128,000 GAMLS
• 2026-04-21 Price Changed $128,000 FMLS
• 2026-04-13 Listed $129,000 FMLS
• 2026-04-13 Listed $129,000 GAMLS
• 2026-04-10 Listing Removed — GAMLS
• 2026-04-10 Listing Removed — GAMLS
• 2026-04-07 Price Changed $133,500 GAMLS
• 2026-04-07 Price Changed $133,500 GAMLS
• 2026-04-02 Price Changed $135,000 GAMLS
• 2026-04-02 Price Changed $135,000 GAMLS
• 2026-03-25 Price Changed $137,500 GAMLS
• 2026-03-25 Price Changed $137,500 GAMLS
• 2026-03-18 Price Changed $138,500 GAMLS
• 2026-03-18 Price Changed $138,500 GAMLS
• 2026-03-11 Price Changed $138,900 GAMLS
• 2026-03-11 Price Changed $138,900 GAMLS
• 2026-03-02 Price Changed $140,000 GAMLS
• 2026-03-02 Price Changed $140,000 GAMLS
• 2026-01-26 Price Changed $141,900 GAMLS
• 2026-01-26 Price Changed $141,900 GAMLS
• 2026-01-05 Listed $142,500 GAMLS
• 2026-01-05 Listed $142,500 GAMLS
• 2025-12-31 Listing Removed — GAMLS
• 2025-10-22 Listed $145,000 GAMLS
• 2025-09-23 Listing Removed — FMLS
• 2025-09-23 Listing Removed — GAMLS
• 2025-07-21 Price Changed $149,900 FMLS
• 2025-06-23 Listed $159,900 FMLS
• 2025-06-23 Listed $159,900 GAMLS
• 2025-04-07 Sold (Public Records) $135,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,220 · +1.3% YoY. Source: county tax records.