Colbert Plan

Perry, GA 31069

$268,000D

4 bd · 2.5 ba · 1,817 sqft · Built — · SingleFamily · Active · 398 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,283/mo
• Mortgage (P&I): −$1,423
• Tax + insurance: −$452
• HOA: −$0
• Vac / Maint / Mgmt: −$480
• Net cashflow: $-71/mo
• Annual: $-848/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.12%
• DSCR: 0.95
• 1% rule: 0.84%
• Cash to close: $75,955

Investor read

• This is a 4-bed/2.5-bath single-family listed at $268k. Condition is rated excellent.
• At list price, monthly cash flow is $-71 ($-848/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (14.8% below list).
• It's been on market 398 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $228k (14.8% 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 $8k 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: Langston Road Elementary School (math 58% / reading 53%, grade C, #173 of 1,228 statewide, top 14%, 867 students, 49% FRL); Perry Middle School (math 53% / reading 51%, grade C+, #60 of 470 statewide, top 13%, 1,070 students, 51% FRL); Perry High School (math 31% / reading 39%, grade F, #84 of 424 statewide, top 20%, 1,478 students, 48% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: 772 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 4.8% in Perry — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 37% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 398 days. Have you received any prior offers? Is the seller open to a 15% 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.
• 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.