Bimini Plan

Pooler, GA 31322

$1F

3 bd · 2.5 ba · 1,825 sqft · Built — · Townhouse · Active · 749 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,162/mo
• Mortgage (P&I): −$1,391
• Tax + insurance: −$567
• HOA: −$130
• Vac / Maint / Mgmt: −$454
• Net cashflow: $-380/mo
• Annual: $-4,560/yr
• Cap rate: 5.14%
• Cash-on-cash: -4.12%
• DSCR: 0.82
• 1% rule: 0.82%
• Cash to close: $74,270

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $1. Condition is rated good.
• At list price, monthly cash flow is $-380 ($-5k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• It's been on market 749 days — a 12% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#182 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, employment A-; Watch: schools D+, amenities F, commute F.
• Savannah-Chatham County (urban): math 20% / reading 26% proficiency, ranked #134 of 174 in GA (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 397876.4% of price; flood insurance adds $125/mo.
• Market conditions: Rents falling (-3.4%/yr); 424 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• Chatham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 97% 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.
• Cap rate 5.1% vs local median 4.0% in Pooler — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 749 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?