201 Sterling St

Wrens, GA 30833

$40,000B

2 bd · 1.0 ba · 644 sqft · Built 1959 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $819/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$31
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $407/mo
• Annual: $4,881/yr
• Cap rate: 18.50%
• Cash-on-cash: 43.58%
• DSCR: 2.94
• 1% rule: 2.05%
• Cash to close: $11,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $40k.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($819 rent vs $40k).
• It's been on market 27 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• In year one you build about $609 of equity ($277 loan paydown + $332 appreciation (0.8% local appreciation)).
• Location reads 58/100 on livability (#434 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Jefferson County (rural): math 10% / reading 15% proficiency, ranked #166 of 174 in GA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wrens Elementary School (math 16% / reading 19%, grade F, #931 of 1,228 statewide, top 76%, 430 students, 100% FRL); Jefferson County Middle School (math 7% / reading 17%, grade F, #417 of 470 statewide, top 90%, 458 students, 100% FRL); Jefferson County High School (math 2% / reading 8%, grade F, #394 of 424 statewide, top 97%, 631 students, 100% FRL) — zoned schools average 100% FRL vs 78% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 10 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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.

Questions for listing agent

• Built in 1959 — 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 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.
• 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.