153 Prather Bridge Rd

Toccoa, GA 30577

$130,000C+

2 bd · 1.0 ba · 1,008 sqft · Built 1935 · SingleFamily · Under Contract · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,165/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$137
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $101/mo
• Annual: $1,216/yr
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• 1% rule: 0.90%
• Cash to close: $36,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $101 ($1k/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 $116k (10.4% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $116k (10.4% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($899 loan paydown + $8k appreciation (6.2% local appreciation)).
• Location reads 68/100 on livability (#131 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Stephens County (rural): math 34% / reading 34% proficiency, ranked #74 of 174 in GA (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 226 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 52 units permitted in Stephens County in 2024 (0 in 5+ unit buildings).
• Stephens County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.2% vs local median 3.4% in Toccoa — 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

• Built in 1935 — 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 D-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.