Property Location

664 Chenocetah Drive, Cornelia GA 30531

Interactive Map

List Price $1,900,000
Units 1
Est. Cap Rate 0.3%
Est. Cash-on-Cash -22.8%
Price / Unit $1,900,000
Est. Year 1 Cash Flow $-108,225 after debt service
664 Chenocetah Drive Cornelia, GA 30531
FMLS IDX Data last updated: August 2, 2026 at 9:46 PM EST
ACTIVE
Property Description
Perched atop a private ridgeline on prestigious Chenocetah Mountain, this 13.5-acre tract represents a premier development opportunity defined by elevation, infrastructure, and panoramic mountain views anchored by Mount Yonah. The property features a commanding ridgeline position with potential for multiple individual lots with current zoning and approval for a re-plat process through the City of Cornelia, most offering long-range layered mountain views and privacy-an increasingly scarce combination in Northeast Georgia. With existing graded access, city water and sewer availability, and proximity to major growth corridors, the site is uniquely positioned for a boutique luxury residential development or private gated enclave. Bordering 650 acres of protected Chattahoochee-Oconee National Forest, the property offers built-in recreational adjacency and permanent view protection-key differentiators for high-end lot absorption. Direct connectivity to Lake Russell further enhances marketability, creating a lifestyle-driven development narrative. Located just 3 miles from Hwy 365, the site benefits from proximity to Atlanta, Athens, Gainesville, and Greenville, while also sitting within a region experiencing expanding economic activity including the new inland port and regional job growth. An existing fully renovated 3,000+ sq ft residence provides immediate optionality - serving as a developer residence, short-term rental, or income-producing asset during development phasing. The home is a fully renovated 4-bedroom, 4-bath classic mid-century modern residence blends modern comfort with timeless natural surroundings. Designed for both everyday living and entertaining, the home features an open-concept kitchen and living space, and multiple porches-including a screened-in outdoor living area. Large, view-driven parcels with infrastructure in place are increasingly rare in this corridor. This offering provides a compelling combination of topography, utilities, access, and irreplaceable views, making it well suited for a high-margin, low-density luxury development or legacy land hold.
Investment Notes — Cornelia
  • Located in the Cornelia, GA area
  • Value-add opportunities typically exist through management, renovations, or operational improvements
  • Rental demand and achievable rents vary significantly by submarket — local market verification is recommended
  • Actual cash flow depends on occupancy, expenses, financing, and current market conditions
Professional Investment Analysis

Modeled from FMLS data + Atlanta metro baselines where listing data is incomplete

Price per Unit $1,900,000 Verified
Est. Cap Rate 0.29% Modeled
Est. Cash-on-Cash -22.78% Modeled
Est. Gross Income $12,595 Modeled
Est. NOI $5,542 Modeled
Est. Year 1 Cash Flow $-108,225 after debt service (25% down / 7% / 30-yr) Modeled
Confidence scores included Latest FMLS data Transparent modeling
Investment Calculator

Starts from list price and unit count. Pre-filled from Modeled Estimate. Override any value to model your own scenario.

$
$
$

Modeled Estimate

5.0%
51%
25%
7%
30 yrs
Gross Potential Income
Effective Gross Income
Operating Expenses
Net Operating Income (NOI)
Asking Cap Rate
Price Per Unit
Annual Debt Service
Year 1 Cash Flow
Cash-on-Cash Return
Review Further

Jeff’s Investment Take

Further review recommended before moving forward.

Est. Cap0.3%
Est. CoC-22.8%
Important Investment Disclaimer
Important Investment Information

Actual MLS Cap Rate is used when present. Gross Income uses rent roll or MLS Gross Income when available, otherwise modeled. Operating expenses use an all-in ratio by property size. Cash-on-cash assumes 25% down, 7% interest, 30-year amortization. All figures are for screening only — verify with current rent roll and expenses.

Some figures shown on this page are estimated because complete rent-roll or operating data was not provided in the listing. Estimated values are clearly marked.

Any estimated or modeled figures represent the independent analysis of Jeff Crowe / Century 21 The Avenues and are not supplied by FMLS or the listing broker.

This website and its content are for informational and educational purposes only. Nothing on this site constitutes financial, investment, tax, or real estate advice. All information is deemed reliable but not guaranteed. You should always conduct your own thorough due diligence, verify all data independently, review the physical condition of the property, and consult with your own qualified attorney, accountant, and investment advisor before making any purchase decision.

MLS ID: 7751070 · Listing courtesy of Berkshire Hathaway HomeServices Georgia Properties, Meghann Brackett · 706-778-4171

IDX Information Provided by Jeff Crowe · jeffcrowe@c21theavenues.com
FMLS · Updated Daily