150 Parker Dr

Macon-Bibb County, GA 31217

$128,000A-

4 bd · 2.0 ba · 2,128 sqft · Built 2001 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,869/mo
• Mortgage (P&I): −$671
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$393
• Net cashflow: $698/mo
• Annual: $8,376/yr
• Cap rate: 12.84%
• Cash-on-cash: 23.37%
• DSCR: 2.04
• 1% rule: 1.46%
• Cash to close: $35,840

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $128k.
• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $6k of equity ($885 loan paydown + $6k appreciation (4.3% local appreciation)).
• Location reads: area grade A — affects rentability + tenant quality, not the cash-flow math above.
• Jones County (rural): math 32% / reading 34% proficiency, ranked #72 of 174 in GA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clifton Ridge Middle School (math 19% / reading 30%, grade F, #301 of 470 statewide, top 66%, 550 students, 67% FRL) — zoned schools average 67% FRL vs 42% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.8%/yr); 124 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 106 units permitted in Jones County in 2024 (6 in 5+ unit buildings).
• Jones County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $8k; list at $128k implies a 1500% gain — meaningful room to come down on a strong offer.
• At projected returns (4.3% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.8% vs local median 5.5% in Macon-Bibb County — 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 $1,869/mo this rent would consume 50% of the median local household income ($45k/yr) (locally 391% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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.