76 Jacqueline Dr

Georgetown-Quitman County, GA 39854

$115,000C+

3 bd · 2.0 ba · 1,960 sqft · Built 1979 · Manufactured · Pending · 74 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $252/mo
• Annual: $3,020/yr
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 74 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($795 loan paydown + $5k appreciation (4.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Quitman County (town): math 10% / reading 15% proficiency, ranked #184 of 187 in GA (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Quitman County Elementary (math 8% / reading 12%, grade F, #1,092 of 1,228 statewide, top 91%, 210 students, 100% FRL); Quitman County High School (math 10% / reading 10%, grade F, #353 of 424 statewide, top 86%, 107 students, 100% FRL).
• Market conditions: 80 active listings in the ZIP; 12 units permitted in Quitman County in 2024 (0 in 5+ unit buildings).
• Quitman County population projected at -42% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts; this cycle's ask is 10355% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $75k; list at $115k implies a 53% gain — meaningful room to come down on a strong offer.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, 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; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.9% vs local median 2.8% in Georgetown-Quitman County — 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 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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.
• 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.