60 Skyline Dr

Thomasville, GA 31757

$194,000C

3 bd · 1.5 ba · 1,422 sqft · Built 1967 · SingleFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,850/mo
• Mortgage (P&I): −$1,017
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $282/mo
• Annual: $3,380/yr
• Cap rate: 8.04%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• 1% rule: 0.95%
• Cash to close: $54,320

Investor read

• This is a 3-bed/1.5-bath single-family listed at $194k.
• At list price, monthly cash flow is $282 ($3k/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 $185k (4.6% below list).
• It's been on market 62 days — a 6% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#77 in GA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: schools D, crime F, commute F.
• Thomas County (rural): math 27% / reading 32% proficiency, ranked #97 of 174 in GA (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 213 units permitted in Thomas County in 2024 (72 in 5+ unit buildings).
• Thomas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $68k; list at $194k implies a 187% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.0% vs local median 3.7% in Thomasville — 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 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is F 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?
• 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.