71 W Thigpen Ave

Lakeland, GA 31635

$179,900D

3 bd · 2.0 ba · 1,728 sqft · Built 1945 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,168/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-209/mo
• Annual: $-2,513/yr
• Cap rate: 4.90%
• Cash-on-cash: -4.99%
• DSCR: 0.78
• 1% rule: 0.65%
• Cash to close: $50,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (20.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (35.1% below list).
• It's been on market 45 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (35.1% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (4.4% local appreciation)).
• Location reads 60/100 on livability (#379 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: health & safety D, amenities F, commute F.
• Lanier County (rural): math 33% / reading 38% proficiency, ranked #67 of 174 in GA (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lanier County Primary School (498 students, 86% FRL); Lanier County Middle School (math 27% / reading 41%, grade F, #201 of 470 statewide, top 44%, 413 students, 86% FRL); Lanier County High School (math 37% / reading 22%, grade F, #140 of 424 statewide, top 35%, 451 students, 86% FRL) — zoned schools average 86% FRL vs 65% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 35 units permitted in Lanier County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $57k; list at $180k implies a 216% gain — meaningful room to come down on a strong offer.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/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 45 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.
• 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.