408 Register St

Dexter, GA 31019

$93,900C

3 bd · 2.0 ba · 980 sqft · Built 1996 · Other · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $994/mo
• Mortgage (P&I): −$492
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $136/mo
• Annual: $1,636/yr
• Cap rate: 8.04%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• 1% rule: 1.06%
• Cash to close: $26,292

Investor read

• This is a 3-bed/2.0-bath other listed at $94k.
• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $94k).
• It's been on market 22 days — a 2% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (1.5% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($649 loan paydown + $4k appreciation (4.1% local appreciation)).
• Location reads 61/100 on livability (#343 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Laurens County (rural): math 45% / reading 39% proficiency, ranked #42 of 174 in GA (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwest Laurens Elementary (math 50% / reading 37%, grade F, #364 of 1,228 statewide, top 30%, 1,005 students, 85% FRL); West Laurens Middle School (math 48% / reading 48%, grade C-, #80 of 470 statewide, top 17%, 927 students, 85% FRL); West Laurens High School (math 41% / reading 28%, grade F, #88 of 424 statewide, top 22%, 1,271 students, 85% FRL) — zoned schools average 85% FRL vs 55% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 24 active listings in the ZIP; 55 units permitted in Laurens County in 2024 (24 in 5+ unit buildings).
• Laurens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $10k; list at $94k implies a 794% gain — meaningful room to come down on a strong offer.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k 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; 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.

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 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?
• 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.