6057 Old Augusta Hwy

Harlem, GA 30814

$215,000D

3 bd · 2.0 ba · 1,782 sqft · Built 2002 · Other · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,659/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$170
• HOA: −$0
• Vac / Maint / Mgmt: −$348
• Net cashflow: $13/mo
• Annual: $161/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• 1% rule: 0.77%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath other listed at $215k.
• At list price, monthly cash flow is $13 ($161/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 $166k (22.8% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $166k (22.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#256 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• Columbia County (suburban): math 49% / reading 52% proficiency, ranked #13 of 174 in GA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Harlem Elementary School (math 41% / reading 40%, grade F, #419 of 1,228 statewide, top 35%, 862 students, 48% FRL); Harlem Middle School (math 36% / reading 42%, grade F, #155 of 470 statewide, top 33%, 981 students, 39% FRL); Harlem High School (math 8% / reading 22%, grade F, #297 of 424 statewide, top 74%, 1,223 students, 33% FRL).
• Zoned-school proficiency averages 31% at this address vs 50% district-wide (-19 pts) — the specific schools serving this property underperform the Columbia County average; the district grade overstates school quality for this exact location.
• Market conditions: 146 active listings in the ZIP; 1,213 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts 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 $28k; list at $215k implies a 663% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 3.9% in Harlem — 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

• 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?
• 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?
• 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.