220 13th Ave Ave SW

Cairo, GA 39828

$98,000B

3 bd · 1.0 ba · 1,421 sqft · Built 1953 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,312/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $377/mo
• Annual: $4,527/yr
• Cap rate: 10.91%
• Cash-on-cash: 16.50%
• DSCR: 1.73
• 1% rule: 1.34%
• Cash to close: $27,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• It's been on market 47 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#240 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Grady County (town): math 27% / reading 27% proficiency, ranked #116 of 174 in GA (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southside Elementary School (math 41% / reading 24%, grade F, #575 of 1,228 statewide, top 47%, 564 students, 100% FRL); Washington Middle School (math 15% / reading 28%, grade F, #339 of 470 statewide, top 72%, 686 students, 100% FRL); Cairo High School (math 9% / reading 12%, grade F, #348 of 424 statewide, top 83%, 1,274 students, 100% FRL, charter) — zoned schools average 100% FRL vs 64% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 68 active listings in the ZIP; 55 units permitted in Grady County in 2024 (0 in 5+ unit buildings).
• Grady County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% 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 10.9% vs local median 3.0% in Cairo — 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 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.