131 Hummingbird Ln SE

Calhoun, GA 30701

$159,900C+

3 bd · 2.0 ba · 1,137 sqft · Built 1993 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,621/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$259
• HOA: −$0
• Vac / Maint / Mgmt: −$340
• Net cashflow: $183/mo
• Annual: $2,199/yr
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• 1% rule: 1.01%
• Cash to close: $44,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#129 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime C-, amenities F, commute F.
• Gordon County (rural): math 34% / reading 36% proficiency, ranked #65 of 174 in GA (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sonoraville Elementary (math 57% / reading 42%, grade D, #264 of 1,228 statewide, top 23%, 618 students, 53% FRL); Red Bud Middle School (math 32% / reading 34%, grade F, #213 of 470 statewide, top 47%, 824 students, 54% FRL); Sonoraville High School (math 24% / reading 44%, grade F, #93 of 424 statewide, top 23%, 1,142 students, 49% FRL) — zoned schools at 52% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising (+1.5%/yr); 398 active listings in the ZIP; 414 units permitted in Gordon County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; list at $160k implies a 60% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk; moderate 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 8.2% vs local median 4.1% in Calhoun — 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 ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.