178 Calhoun Way Way NE

Ludowici, GA 31316

$238,400C-

3 bd · 2.0 ba · 1,337 sqft · Built 2026 · SingleFamily · Pending · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,225/mo
• Mortgage (P&I): −$1,250
• Tax + insurance: −$397
• HOA: −$30
• Vac / Maint / Mgmt: −$467
• Net cashflow: $80/mo
• Annual: $966/yr
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• 1% rule: 0.93%
• Cash to close: $66,752

Investor read

• This is a 3-bed/2.0-bath single-family listed at $238k. Condition is rated fair.
• At list price, monthly cash flow is $80 ($966/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (6.7% below list).
• It's been on market 101 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $217k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($2k loan paydown + $3k appreciation (1.2% local appreciation)).
• Location reads 72/100 on livability (#74 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools D, employment D, amenities F.
• Long County (rural): math 26% / reading 26% proficiency, ranked #115 of 174 in GA (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 409 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 298 units permitted in Long County in 2024 (0 in 5+ unit buildings).
• Long County population projected at +72% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~9 years — after that, you're playing with house money.
• By year 8, 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, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 5.4% in Ludowici — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: garage door — The garage door is missing, which is a major structural issue.
• Major: flooring — Flooring is not installed, which is a major issue for a completed home.
• Major: kitchen and bathroom fixtures — Kitchen and bathroom fixtures are not installed, which is a major issue for a completed home.