104 Bryant Dr

Perry, GA 31069

$219,900C

3 bd · 2.0 ba · 1,840 sqft · Built 1967 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,056/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$432
• Net cashflow: $323/mo
• Annual: $3,881/yr
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• 1% rule: 0.94%
• Cash to close: $61,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (6.5% below list).
• It's been on market 55 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $206k (6.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#149 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Houston County (urban): math 43% / reading 46% proficiency, ranked #23 of 174 in GA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tucker Elementary School (math 37% / reading 27%, grade F, #582 of 1,228 statewide, top 50%, 470 students, 84% FRL); Perry Middle School (math 53% / reading 51%, grade C+, #60 of 470 statewide, top 13%, 1,070 students, 51% FRL); Perry High School (math 31% / reading 39%, grade F, #84 of 424 statewide, top 20%, 1,478 students, 48% FRL) — zoned schools average 61% FRL vs 46% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 472 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,545 units permitted in Houston County in 2024 (336 in 5+ unit buildings).
• Houston County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 4.5% in Perry — 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 33% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1967 — 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.
• 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.