1565 Georgia 56

Waynesboro, GA 30830

$159,000C

3 bd · 2.0 ba · 1,296 sqft · Built 2004 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $254/mo
• Annual: $3,047/yr
• Cap rate: 8.21%
• Cash-on-cash: 6.84%
• DSCR: 1.30
• 1% rule: 0.94%
• Cash to close: $44,520

Investor read

• This is a 3-bed/2.0-bath single-family listed at $159k.
• At list price, monthly cash flow is $254 ($3k/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 $150k (5.7% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $150k (5.7% 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 $5k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#221 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, employment D, amenities F.
• Burke County (town): math 16% / reading 21% proficiency, ranked #148 of 174 in GA (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Burke County Middle School (math 15% / reading 26%, grade F, #345 of 470 statewide, top 74%, 882 students, 100% FRL); Burke County High School (math 4% / reading 17%, grade F, #348 of 424 statewide, top 83%, 1,170 students, 100% FRL) — zoned schools average 100% FRL vs 72% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 65 units permitted in Burke County in 2024 (0 in 5+ unit buildings).
• Burke County population projected at -24% 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 $35k; list at $159k implies a 350% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.2% vs local median 3.1% in Waynesboro — 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 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.