9822 Jones St

Sparta, GA 31087

$56,000B

2 bd · 1.0 ba · 1,111 sqft · Built 1900 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,313/mo
• Mortgage (P&I): −$294
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $682/mo
• Annual: $8,181/yr
• Cap rate: 20.90%
• Cash-on-cash: 52.18%
• DSCR: 3.32
• 1% rule: 2.34%
• Cash to close: $15,680

Investor read

• This is a 2-bed/1.0-bath single-family listed at $56k.
• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• It's been on market 35 days — a 3% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $387 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#383 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Hancock County (rural): math 3% / reading 12% proficiency, ranked #173 of 174 in GA (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lewis Elementary School (math 2% / reading 2%, grade F, #1,204 of 1,228 statewide, top 100%, 315 students, 100% FRL); Hancock Central Middle School (math 8% / reading 17%, grade F, #412 of 470 statewide, top 88%, 155 students, 100% FRL); Hancock Central High School (math 5% / reading 15%, grade F, #353 of 424 statewide, top 86%, 233 students, 100% FRL) — zoned schools average 100% FRL vs 80% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 120 active listings in the ZIP; 28 units permitted in Hancock County in 2024 (0 in 5+ unit buildings).
• Hancock County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• 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.
• 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.