3871 Highway 17

Canon, GA 30520

$200,000D

3 bd · 2.0 ba · 924 sqft · Built 1965 · Manufactured · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,494/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$333
• HOA: −$0
• Vac / Maint / Mgmt: −$314
• Net cashflow: $-202/mo
• Annual: $-2,420/yr
• Cap rate: 5.08%
• Cash-on-cash: -4.32%
• DSCR: 0.81
• 1% rule: 0.75%
• Cash to close: $56,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $200k.
• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (14.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (25.3% below list).
• It's been on market 64 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (25.3% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#189 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Franklin County (rural): math 38% / reading 35% proficiency, ranked #61 of 174 in GA (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 163 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $19k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; list at $200k implies a 203% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 64 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.