1050 Mount Airy Rd

Waverly Hall, GA 31831

$303,300D

3 bd · 2.0 ba · 1,440 sqft · Built 1960 · Other · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,408/mo
• Mortgage (P&I): −$1,591
• Tax + insurance: −$506
• HOA: −$0
• Vac / Maint / Mgmt: −$506
• Net cashflow: $-193/mo
• Annual: $-2,322/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.73%
• DSCR: 0.88
• 1% rule: 0.79%
• Cash to close: $84,924

Investor read

• This is a 3-bed/2.0-bath other listed at $303k.
• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $275k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (20.6% below list).
• It's been on market 139 days — a 12% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $241k (20.6% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (2.2% local appreciation)).
• Location reads 61/100 on livability (#346 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D-, amenities F.
• Harris County (rural): math 41% / reading 43% proficiency, ranked #27 of 174 in GA (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP; 189 units permitted in Harris County in 2024 (0 in 5+ unit buildings).
• Harris County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $10k; list at $303k implies a 2933% gain — meaningful room to come down on a strong offer.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk; major wind risk, 67% 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 5.5% vs local median 3.7% in Waverly Hall — 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

• 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 139 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?