4840 Highway 54

Turin, GA 30277

$190,000C-

2 bd · 1.0 ba · 873 sqft · Built 1964 · SingleFamily · Under Contract · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,648/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $180/mo
• Annual: $2,165/yr
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• 1% rule: 0.87%
• Cash to close: $53,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $180 ($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 $165k (13.3% below list).
• It's been on market 27 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (13.3% 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 60/100 on livability (#360 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Coweta County (rural): math 37% / reading 43% proficiency, ranked #36 of 174 in GA (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Poplar Road Elementary School (math 35% / reading 38%, grade F, #509 of 1,228 statewide, top 42%, 576 students, 37% FRL); East Coweta Middle School (math 36% / reading 43%, grade F, #147 of 470 statewide, top 33%, 795 students, 32% FRL); East Coweta High School (math 22% / reading 38%, grade F, #135 of 424 statewide, top 32%, 3,212 students, 30% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: 173 active listings in the ZIP; high-income renter base; 963 units permitted in Coweta County in 2024 (8 in 5+ unit buildings).
• Coweta County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 37% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.4% vs local median 2.4% in Turin — 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.
• This rent is only 16% of the median local income ($120k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.