122 Eastview Ave

Perry, GA 31047

$247,000D

3 bd · 2.0 ba · 1,470 sqft · Built 2002 · SingleFamily · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,970/mo
• Mortgage (P&I): −$1,295
• Tax + insurance: −$222
• HOA: −$0
• Vac / Maint / Mgmt: −$414
• Net cashflow: $39/mo
• Annual: $467/yr
• Cap rate: 6.48%
• Cash-on-cash: 0.68%
• DSCR: 1.03
• 1% rule: 0.80%
• Cash to close: $69,160

Investor read

• This is a 3-bed/2.0-bath single-family listed at $247k.
• At list price, monthly cash flow is $39 ($467/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (20.2% below list).
• It's been on market 32 days — a 3% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $197k (20.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#149 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Houston County (urban): math 43% / reading 46% proficiency, ranked #23 of 174 in GA (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Matthew Arthur Elementary School (math 72% / reading 71%, grade A-, #47 of 1,228 statewide, top 4%, 873 students, 29% FRL); Bonaire Middle School (math 67% / reading 68%, grade A-, #21 of 470 statewide, top 4%, 1,140 students, 32% FRL); Veterans High School (math 33% / reading 32%, grade F, #104 of 424 statewide, top 25%, 1,914 students, 30% FRL) — zoned schools average 30% FRL vs 46% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 57% at this address vs 44% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Houston County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 258 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,545 units permitted in Houston County in 2024 (336 in 5+ unit buildings).
• Houston County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $167k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 4.5% in Perry — 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 32 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.