317 Hideaway Pl

Morganton, GA 30560

$444,000D

5 bd · 3.0 ba · 2,288 sqft · Built 1976 · SingleFamily · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,500/mo
• Mortgage (P&I): −$2,328
• Tax + insurance: −$289
• HOA: −$0
• Vac / Maint / Mgmt: −$735
• Net cashflow: $148/mo
• Annual: $1,772/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.43%
• DSCR: 1.06
• 1% rule: 0.79%
• Cash to close: $124,320

Investor read

• This is a 5-bed/3.0-bath single-family listed at $444k.
• At list price, monthly cash flow is $148 ($2k/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 $350k (21.2% below list).
• It's been on market 32 days — a 3% lower offer ($431k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $350k (21.2% 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 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; 1 comparable units currently listed for rent nearby; 375 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).
• 9 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.
• Cap rate 6.7% 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.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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.
• 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?
• 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?
• 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.