856 River Landing Rd

Kingsland, GA 31548

$269,900D-

5 bd · 3.0 ba · 2,304 sqft · Built 2024 · Land · Active · 269 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,925/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$450
• HOA: −$0
• Vac / Maint / Mgmt: −$404
• Net cashflow: $-344/mo
• Annual: $-4,132/yr
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• 1% rule: 0.71%
• Cash to close: $75,572

Investor read

• This is a 5-bed/3.0-bath land listed at $270k.
• At list price, monthly cash flow is $-344 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (28.7% below list).
• It's been on market 269 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (28.7% 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 $8k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#111 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: employment C-, amenities F, commute F.
• Camden County (town): math 56% / reading 54% proficiency, ranked #9 of 174 in GA (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 388 active listings in the ZIP; solid renter incomes; 383 units permitted in Camden County in 2024 (0 in 5+ unit buildings).
• Camden County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $23k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $270k implies a 200% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 3.5% in Kingsland — 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 runs 30% of the median local income ($76k/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 269 days. Have you received any prior offers? Is the seller open to a 29% 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.