60 Booker Montgomery Rd

Salem, GA 31076

$70,000B

3 bd · 1.0 ba · 2,349 sqft · Built 1996 · Manufactured · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,279/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $558/mo
• Annual: $6,695/yr
• Cap rate: 15.86%
• Cash-on-cash: 34.16%
• DSCR: 2.52
• 1% rule: 1.83%
• Cash to close: $19,600

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $70k.
• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($484 loan paydown + $4k appreciation (5.3% local appreciation)).
• Location reads 56/100 on livability (#505 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Taylor County (rural): math 18% / reading 21% proficiency, ranked #147 of 174 in GA (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Taylor County Elementary (math 18% / reading 11%, grade F, #996 of 1,228 statewide, top 83%, 254 students, 97% FRL); Taylor County Middle School (math 20% / reading 30%, grade F, #291 of 470 statewide, top 64%, 277 students, 97% FRL); Taylor County High School (math 12% / reading 27%, grade F, #243 of 424 statewide, top 59%, 367 students, 97% FRL) — zoned schools average 97% FRL vs 72% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 20 active listings in the ZIP; 11 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• Taylor County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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 $60k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, 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 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

• 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.
• 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.