605 Glade Fern Way

Tifton, GA 31794

$209,000D-

3 bd · 2.5 ba · 1,560 sqft · Built 2008 · SingleFamily · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,827/mo
• Mortgage (P&I): −$1,096
• Tax + insurance: −$248
• HOA: −$40
• Vac / Maint / Mgmt: −$384
• Net cashflow: $59/mo
• Annual: $707/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• 1% rule: 0.87%
• Cash to close: $58,520

Investor read

• This is a 3-bed/2.5-bath single-family listed at $209k.
• At list price, monthly cash flow is $59 ($707/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 $183k (12.6% below list).
• It's been on market 57 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $183k (12.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#69 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: crime D, commute F, employment D-.
• Tift County (town): math 30% / reading 31% proficiency, ranked #96 of 174 in GA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Annie Belle Clark Elementary School (math 38% / reading 39%, grade F, #463 of 1,228 statewide, top 38%, 804 students, 100% FRL); Eighth Street Middle School (math 19% / reading 26%, grade F, #327 of 470 statewide, top 70%, 958 students, 100% FRL) — zoned schools average 100% FRL vs 62% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 138 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 176 units permitted in Tift County in 2024 (60 in 5+ unit buildings).
• Tift County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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 $140k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 3.2% in Tifton — 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 $1,827/mo this rent would consume 48% of the median local household income ($46k/yr) (locally 759% 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 57 days. Have you received any prior offers? Is the seller open to a 13% 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?
• 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?
• Crime grade is D 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.