340 Browns Rd

Statham, GA 30680

$125,000B-

2 bd · 2.0 ba · 1,064 sqft · Built 1992 · Other · Under Contract · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,660/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$96
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $560/mo
• Annual: $6,720/yr
• Cap rate: 11.67%
• Cash-on-cash: 19.20%
• DSCR: 1.85
• 1% rule: 1.33%
• Cash to close: $35,000

Investor read

• This is a 2-bed/2.0-bath other listed at $125k. Condition is rated fair.
• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• It's been on market 58 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#132 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Barrow County (rural): math 29% / reading 34% proficiency, ranked #77 of 174 in GA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Statham Elementary School (math 27% / reading 28%, grade F, #682 of 1,228 statewide, top 56%, 804 students, 50% FRL); Bear Creek Middle School (math 27% / reading 41%, grade F, #201 of 470 statewide, top 44%, 673 students, 52% FRL); Winder-Barrow High School (math 14% / reading 24%, grade F, #250 of 424 statewide, top 60%, 1,787 students, 45% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 565 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,427 units permitted in Barrow County in 2024 (311 in 5+ unit buildings).
• Barrow County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.7% vs local median 3.1% in Statham — 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.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Roof — Possible minor wear indicated by the condition of the roof.
• Minor: Exterior siding — Possible minor wear indicated by the condition of the exterior siding.
• Minor: Landscaping — Overgrown areas and small outbuilding suggest potential for landscaping improvements.
• Minor: Windows — Possible minor wear indicated by the condition of the windows.
• Minor: HVAC system — No visible signs of major issues, but routine maintenance may be needed.
• Minor: Landscaping — Overgrown areas and small outbuilding suggest potential for landscaping improvements.