392 Beulah Church

Glenwood, GA 30428

$79,900B+

4 bd · 2.0 ba · 2,432 sqft · Built 1998 · Manufactured · Active · 378 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,511/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$54
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $721/mo
• Annual: $8,648/yr
• Cap rate: 17.12%
• Cash-on-cash: 38.66%
• DSCR: 2.72
• 1% rule: 1.89%
• Cash to close: $22,372

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $721 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 378 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($552 loan paydown + $8k 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-, amenities F, commute 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.
• Zoned schools: Wheeler County Elementary School (math 47% / reading 32%, grade F, #435 of 1,228 statewide, top 37%, 407 students, 89% FRL); Wheeler County Middle School (math 24% / reading 30%, grade F, #271 of 470 statewide, top 60%, 202 students, 90% FRL); Wheeler County High School (math 17% / reading 12%, grade F, #315 of 424 statewide, top 76%, 264 students, 89% FRL) — zoned schools average 89% FRL vs 70% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP.
• Wheeler County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $45k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $80k implies a 384% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 378 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.