1072 Hwy 280 West Rd

Reidsville, GA 30453

$119,900C+

4 bd · 2.0 ba · 2,464 sqft · Built 1978 · SingleFamily · Pending · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,403/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$318
• HOA: −$0
• Vac / Maint / Mgmt: −$295
• Net cashflow: $162/mo
• Annual: $1,940/yr
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• 1% rule: 1.17%
• Cash to close: $33,572

Investor read

• This is a 4-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 155 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($829 loan paydown + $8k appreciation (6.9% local appreciation)).
• Location reads 66/100 on livability (#198 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Tattnall County (rural): math 29% / reading 28% proficiency, ranked #103 of 174 in GA (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Reidsville Elementary School (math 23% / reading 19%); North Tattnall Middle School (math 34% / reading 33%, grade F, #206 of 470 statewide, top 45%, 446 students, 78% FRL); Tattnall County High School (math 19% / reading 29%, grade F, #203 of 424 statewide, top 48%, 1,036 students, 78% FRL).
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 43 active listings in the ZIP; 46 units permitted in Tattnall County in 2024 (0 in 5+ unit buildings).
• Tattnall County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% 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 7.9% vs local median 3.8% in Reidsville — 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

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.