109 Pleasant Dr

Port Wentworth, GA 31407

$247,900C

3 bd · 2.0 ba · 1,528 sqft · Built 1972 · SingleFamily · Pending · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,205/mo
• Mortgage (P&I): −$1,300
• Tax + insurance: −$678
• HOA: −$0
• Vac / Maint / Mgmt: −$463
• Net cashflow: $-236/mo
• Annual: $-2,830/yr
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• 1% rule: 0.89%
• Cash to close: $69,412

Investor read

• This is a 3-bed/2.0-bath single-family listed at $248k.
• At list price, monthly cash flow is $-236 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (11.1% below list).
• It's been on market 76 days — a 6% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $206k (16.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#173 in GA) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime A-; Watch: schools F, amenities F, commute F.
• Savannah-Chatham County (urban): math 20% / reading 26% proficiency, ranked #134 of 174 in GA (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents falling (-3.5%/yr); 382 active listings in the ZIP; solid renter incomes; 2,694 units permitted in Chatham County in 2024 (973 in 5+ unit buildings).
• Chatham County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 16y 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 $215k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 97% 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 7.2% vs local median 4.0% in Port Wentworth — 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 ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.