113 N Fifth St

Glenwood, GA 30428

$129,900C+

3 bd · 1.0 ba · 1,428 sqft · Built 1940 · SingleFamily · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,391/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $319/mo
• Annual: $3,830/yr
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• 1% rule: 1.07%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 63 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads 54/100 on livability (#536 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Wheeler County (rural): math 31% / reading 29% proficiency, ranked #100 of 174 in GA (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 2 comparable units currently listed for rent nearby.
• Wheeler County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $29k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; 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

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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?
• 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.