129 Brady St

Toccoa, GA 30577

$160,000C-

2 bd · 1.0 ba · 1,096 sqft · Built 1935 · SingleFamily · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,127/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $-44/mo
• Annual: $-523/yr
• Cap rate: 5.97%
• Cash-on-cash: -1.17%
• DSCR: 0.95
• 1% rule: 0.70%
• Cash to close: $44,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $-44 ($-523/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (29.6% below list).
• It's been on market 99 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (29.6% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.2% local appreciation)).
• Location reads 68/100 on livability (#131 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Stephens County (rural): math 34% / reading 34% proficiency, ranked #74 of 174 in GA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty Elementary School (567 students, 75% FRL); Stephens County Middle School (math 29% / reading 31%, grade F, #243 of 470 statewide, top 53%, 860 students, 75% FRL); Stephens County High School (math 18% / reading 34%, grade F, #175 of 424 statewide, top 42%, 1,142 students, 46% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 228 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 52 units permitted in Stephens County in 2024 (0 in 5+ unit buildings).
• Stephens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $39k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $160k implies a 68% gain — meaningful room to come down on a strong offer.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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

• 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 99 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1935 — 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?
• 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.