* SE 5th Ave Unit *

Moultrie, GA 31768

$995,000B-

24 bd · 12.0 ba · 12,246 sqft · Built — · MultiFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $16,553/mo
• Mortgage (P&I): −$5,218
• Tax + insurance: −$1,658
• HOA: −$0
• Vac / Maint / Mgmt: −$3,476
• Net cashflow: $6,201/mo
• Annual: $74,408/yr
• Cap rate: 13.77%
• Cash-on-cash: 26.71%
• DSCR: 2.19
• 1% rule: 1.66%
• Cash to close: $278,600

Investor read

• This is a 12 × 2.0-bed/1.0-bath units multifamily listed at $995k. Condition is rated good.
• At list price, monthly cash flow is $6k ($74k/yr) — positive. Per door: $517/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $995k).
• It's been on market 66 days — a 6% lower offer ($935k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $935k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#374 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, commute F.
• Colquitt County (town): math 29% / reading 25% proficiency, ranked #117 of 174 in GA (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 139 active listings in the ZIP; 94 units permitted in Colquitt County in 2024 (0 in 5+ unit buildings).
• Colquitt County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $279k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 13.8% vs local median 4.4% in Moultrie — 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 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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?
• Crime grade is F 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?
• 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.