404 Fisherman Cutoff

Fort Gaines, GA 36310

$74,500B+

3 bd · 1.0 ba · 1,600 sqft · Built 1986 · SingleFamily · Active · 214 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,540/mo
• Mortgage (P&I): −$391
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$323
• Net cashflow: $720/mo
• Annual: $8,634/yr
• Cap rate: 17.88%
• Cash-on-cash: 41.39%
• DSCR: 2.84
• 1% rule: 2.07%
• Cash to close: $20,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $74k.
• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• It's been on market 214 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($515 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 51/100 on livability (#573 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, schools F, crime F.
• Henry County (rural): math 21% / reading 45% proficiency, ranked #55 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 15y ago 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 (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 96% 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 17.9% vs local median 3.0% in Fort Gaines — 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 214 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
• 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.
• 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.