69 Babe Landon Ln

Midway, GA 31309

$290,000F

4 bd · 3.0 ba · 2,128 sqft · Built 2024 · Other · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,188/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$307
• HOA: −$0
• Vac / Maint / Mgmt: −$460
• Net cashflow: $-99/mo
• Annual: $-1,185/yr
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.94
• 1% rule: 0.75%
• Cash to close: $81,200

Investor read

• This is a 4-bed/3.0-bath other listed at $290k.
• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $273k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (24.5% below list).
• It's been on market 93 days — a 9% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $219k (24.5% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.1% local appreciation)).
• Location reads 65/100 on livability (#219 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Liberty County (urban): math 19% / reading 28% proficiency, ranked #133 of 174 in GA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 471 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• Liberty County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 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.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.3% in Midway — 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

• 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?
• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.