508 River Road Rd

Eton, GA 30705

$199,900D-

3 bd · 1.0 ba · 1,152 sqft · Built 1940 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,150/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-281/mo
• Annual: $-3,377/yr
• Cap rate: 4.60%
• Cash-on-cash: -6.03%
• DSCR: 0.73
• 1% rule: 0.58%
• Cash to close: $55,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $-281 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (42.5% below list).
• It's been on market 68 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (42.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#65 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Murray County (other): math 25% / reading 31% proficiency, ranked #107 of 174 in GA (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodlawn Elementary School (math 30% / reading 33%, grade F, #612 of 1,228 statewide, top 50%, 549 students, 64% FRL); Bagley Middle School (math 27% / reading 35%, grade F, #237 of 470 statewide, top 51%, 527 students, 67% FRL); North Murray High School (math 21% / reading 44%, grade F, #104 of 424 statewide, top 25%, 1,035 students, 58% FRL) — zoned schools at 63% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 281 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 125 units permitted in Murray County in 2024 (5 in 5+ unit buildings).
• Murray County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $70k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $200k implies a 277% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 68 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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?
• 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.