6070 Riggins Mill Rd

Macon-Bibb County, GA 31020

$95,000B+

3 bd · 2.0 ba · 1,284 sqft · Built 1925 · SingleFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,375/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $512/mo
• Annual: $6,147/yr
• Cap rate: 12.76%
• Cash-on-cash: 23.11%
• DSCR: 2.03
• 1% rule: 1.45%
• Cash to close: $26,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 110 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($657 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Bibb County (urban): math 11% / reading 18% proficiency, ranked #161 of 174 in GA (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bernd Elementary School (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 415 students, 100% FRL); Appling Middle School (math 7% / reading 14%, grade F, #429 of 470 statewide, top 91%, 648 students, 100% FRL); Northeast High School (math 2% / reading 5%, grade F, #413 of 424 statewide, top 99%, 742 students, 100% FRL) — zoned schools average 100% FRL vs 75% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Bibb County in 2024 (0 in 5+ unit buildings).
• Bibb County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.8% vs local median 5.5% in Macon-Bibb County — 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

• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1925 — 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.
• 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.