6689 Mcrae Hwy

Chauncey, GA 31037

$93,000B-

3 bd · 1.0 ba · 960 sqft · Built 1970 · SingleFamily · Active · 507 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,111/mo
• Mortgage (P&I): −$488
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $317/mo
• Annual: $3,807/yr
• Cap rate: 10.39%
• Cash-on-cash: 14.62%
• DSCR: 1.65
• 1% rule: 1.20%
• Cash to close: $26,040

Investor read

• This is a 3-bed/1.0-bath single-family listed at $93k.
• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• It's been on market 507 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($643 loan paydown + $2k appreciation (1.7% local appreciation)).
• Location reads 61/100 on livability (#328 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime F.
• Dodge County (rural): math 18% / reading 26% proficiency, ranked #139 of 174 in GA (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South Dodge Elementary School (math 20% / reading 25%, grade F, #803 of 1,228 statewide, top 66%, 675 students, 91% FRL); Dodge County Middle School (math 18% / reading 27%, grade F, #327 of 470 statewide, top 70%, 628 students, 68% FRL); Dodge County High School (math 2% / reading 27%, grade F, #297 of 424 statewide, top 74%, 834 students, 68% FRL).
• Market conditions: 10 active listings in the ZIP; 13 units permitted in Dodge County in 2024 (0 in 5+ unit buildings).
• Dodge County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 507 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.