198 Abner Rd

Franklin, GA 30217

$135,000C

4 bd · 2.0 ba · 1,352 sqft · Built 1989 · SingleFamily · Under Contract · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,359/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$285
• Net cashflow: $224/mo
• Annual: $2,688/yr
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• 1% rule: 1.01%
• Cash to close: $37,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#361 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A; Watch: schools D, amenities F, commute F.
• Heard County (rural): math 51% / reading 47% proficiency, ranked #18 of 174 in GA (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 50 units permitted in Heard County in 2024 (0 in 5+ unit buildings).
• Heard County population projected at -22% 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.
• Current owner paid $85k; list at $135k implies a 59% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 30% 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 8.3% vs local median 2.4% in Franklin — 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

• 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.
• 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.