Memphis Plan

Kingsland, GA 31548

$269,900F

3 bd · 2.0 ba · 1,602 sqft · Built — · SingleFamily · Active · 393 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,129/mo
• Mortgage (P&I): −$1,627
• Tax + insurance: −$517
• HOA: −$0
• Vac / Maint / Mgmt: −$447
• Net cashflow: $-462/mo
• Annual: $-5,549/yr
• Cap rate: 4.50%
• Cash-on-cash: -6.39%
• DSCR: 0.72
• 1% rule: 0.69%
• Cash to close: $86,896

Investor read

• This is a 3-bed/2.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $243k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (21.1% below list).
• It's been on market 393 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $213k (21.1% 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 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.
• Zoned schools: Camden County High School (math 47% / reading 47%, grade D-, #37 of 424 statewide, top 9%, 2,673 students, 40% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents flat; 390 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Cap rate 4.5% vs local median 3.5% in Kingsland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 34% 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 393 days. Have you received any prior offers? Is the seller open to a 21% 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.