1016 Pine St

Darien, GA 31305

$368,800D-

3 bd · 2.0 ba · 1,537 sqft · Built 2024 · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,950/mo
• Mortgage (P&I): −$1,934
• Tax + insurance: −$537
• HOA: −$0
• Vac / Maint / Mgmt: −$620
• Net cashflow: $-140/mo
• Annual: $-1,680/yr
• Cap rate: 5.84%
• Cash-on-cash: -1.63%
• DSCR: 0.93
• 1% rule: 0.80%
• Cash to close: $103,264

Investor read

• This is a 3-bed/2.0-bath single-family listed at $369k.
• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $344k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (20.0% below list).
• It's been on market 86 days — a 6% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $295k (20.0% below list) — sets the bar for 1% rule.
• In year one you build about $39k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#397 in GA) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Mcintosh County (town): math 23% / reading 29% proficiency, ranked #118 of 174 in GA (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 126 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 127 units permitted in McIntosh County in 2024 (0 in 5+ unit buildings).
• McIntosh County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y 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 $303k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.8% vs local median 3.0% in Darien — 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

• 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 86 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.