129 N 7th St

Cochran, GA 31014

$29,000B+

2 bd · 1.0 ba · 704 sqft · Built 1942 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $864/mo
• Mortgage (P&I): −$152
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $433/mo
• Annual: $5,190/yr
• Cap rate: 26.94%
• Cash-on-cash: 73.74%
• DSCR: 4.28
• 1% rule: 2.98%
• Cash to close: $8,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $29k.
• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($864 rent vs $29k).
• It's been on market 43 days — a 3% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($200 loan paydown + $3k appreciation (10.0% local appreciation)).
• Location reads 57/100 on livability (#458 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Bleckley County (rural): math 46% / reading 44% proficiency, ranked #28 of 174 in GA (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bleckley County Primary School (766 students, 71% FRL); Bleckley Middle School (math 43% / reading 48%, grade D+, #97 of 470 statewide, top 22%, 561 students, 52% FRL); Bleckley County High School (math 37% / reading 27%, grade F, #110 of 424 statewide, top 28%, 671 students, 45% FRL) — zoned schools at 56% FRL track the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 64 active listings in the ZIP; 109 units permitted in Bleckley County in 2024 (45 in 5+ unit buildings).
• Bleckley County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $18k; list at $29k implies a 61% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/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 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.