139 Register Ave

Reidsville, GA 30453

$124,000D

3 bd · 1.0 ba · 1,228 sqft · Built 1950 · SingleFamily · Under Contract · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,034/mo
• Mortgage (P&I): −$650
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $67/mo
• Annual: $805/yr
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• 1% rule: 0.83%
• Cash to close: $34,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $124k.
• At list price, monthly cash flow is $67 ($805/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 $103k (16.6% below list).
• It's been on market 100 days — a 9% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (16.6% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($857 loan paydown + $9k appreciation (6.9% local appreciation)).
• Location reads 66/100 on livability (#198 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Tattnall County (rural): math 29% / reading 28% proficiency, ranked #103 of 174 in GA (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Reidsville Elementary School (math 23% / reading 19%); North Tattnall Middle School (math 34% / reading 33%, grade F, #206 of 470 statewide, top 45%, 446 students, 78% FRL); Tattnall County High School (math 19% / reading 29%, grade F, #203 of 424 statewide, top 48%, 1,036 students, 78% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 46 units permitted in Tattnall County in 2024 (0 in 5+ unit buildings).
• Tattnall County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, 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; 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 6.9% vs local median 3.8% in Reidsville — 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 100 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.