82 Whispering Pnes

Georgetown-Quitman County, GA 39854

$70,000C+

1 bd · 1.0 ba · 240 sqft · Built 1987 · Manufactured · Active · 381 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $816/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$227
• HOA: −$0
• Vac / Maint / Mgmt: −$171
• Net cashflow: $51/mo
• Annual: $613/yr
• Cap rate: 9.32%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• 1% rule: 1.17%
• Cash to close: $19,600

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $51 ($613/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($816 rent vs $70k).
• It's been on market 381 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($484 loan paydown + $3k appreciation (4.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Quitman County (town): math 10% / reading 15% proficiency, ranked #184 of 187 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Quitman County Elementary (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 210 students, 100% FRL); Quitman County High School (math 10% / reading 10%, grade F, #353 of 424 statewide, top 86%, 107 students, 100% FRL).
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 80 active listings in the ZIP; 12 units permitted in Quitman County in 2024 (0 in 5+ unit buildings).
• Quitman County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $9k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.3% vs local median 2.8% in Georgetown-Quitman County — 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 381 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.