Anderson Plan

Walthourville, GA 31301

$267,900C-

4 bd · 2.5 ba · 1,810 sqft · Built — · SingleFamily · Active · 391 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,643/mo
• Mortgage (P&I): −$1,432
• Tax + insurance: −$455
• HOA: −$34
• Vac / Maint / Mgmt: −$555
• Net cashflow: $167/mo
• Annual: $2,007/yr
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• 1% rule: 0.97%
• Cash to close: $76,434

Investor read

• This is a 4-bed/2.5-bath single-family listed at $268k. Condition is rated excellent.
• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (1.4% below list).
• It's been on market 391 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $236k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($2k loan paydown + $424 appreciation (0.2% local appreciation)).
• Location reads 64/100 on livability (#255 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, schools F, amenities F.
• Long County (rural): math 26% / reading 26% proficiency, ranked #115 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 140 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 298 units permitted in Long County in 2024 (0 in 5+ unit buildings).
• Long County population projected at +72% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~10 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.0% vs local median 5.4% in Walthourville — 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.
• At $2,643/mo this rent would consume 48% of the median local household income ($65k/yr) (locally 121% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 391 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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.