301 Bert Rd

Shannon, GA 30161

$959,000B-

2 bd · None ba · — sqft · Built 1994 · MultiFamily · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $13,695/mo
• Mortgage (P&I): −$5,029
• Tax + insurance: −$1,665
• HOA: −$0
• Vac / Maint / Mgmt: −$2,876
• Net cashflow: $4,125/mo
• Annual: $49,502/yr
• Cap rate: 11.54%
• Cash-on-cash: 18.73%
• DSCR: 1.83
• 1% rule: 1.43%
• Cash to close: $268,520

Investor read

• This is a 2-bed/?-bath multifamily listed at $959k. Condition is rated fair.
• At list price, monthly cash flow is $4k ($50k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $959k).
• It's been on market 125 days — a 12% lower offer ($844k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $844k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $29k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#264 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Floyd County (rural): math 41% / reading 40% proficiency, ranked #45 of 174 in GA (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising fast (+6.3%/yr); 411 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 355 units permitted in Floyd County in 2024 (0 in 5+ unit buildings).
• Floyd County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $141k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $269k cash investment doubles in ~6 years — after that, you're playing with house money.
• 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 11.5% vs local median 3.7% in Shannon — 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.
• At $13,695/mo this rent would consume 266% of the median local household income ($62k/yr) (locally 1104% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Aging roof needs replacement
• Moderate: exterior siding — Siding shows signs of wear
• Minor: landscaping — Sparse and needs improvement