The McGinnis Plan

Perry, GA 31069

$272,900F

4 bd · 2.5 ba · 2,372 sqft · Built — · SingleFamily · Active · 510 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,269/mo
• Mortgage (P&I): −$1,527
• Tax + insurance: −$485
• HOA: −$0
• Vac / Maint / Mgmt: −$477
• Net cashflow: $-219/mo
• Annual: $-2,633/yr
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $81,529

Investor read

• This is a 4-bed/2.5-bath single-family listed at $273k.
• At list price, monthly cash flow is $-219 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (16.8% below list).
• It's been on market 510 days — a 12% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $227k (16.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#149 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Houston County (urban): math 43% / reading 46% proficiency, ranked #23 of 174 in GA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 466 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,545 units permitted in Houston County in 2024 (336 in 5+ unit buildings).
• Houston County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 37% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 510 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.