123 Cheryl Ann Dr

Augusta-Richmond County consolidated government (balance), GA 30813

$200,000D+

2 bd · 1.0 ba · 980 sqft · Built 1985 · Other · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,578/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $55/mo
• Annual: $655/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• 1% rule: 0.79%
• Cash to close: $56,000

Investor read

• This is a 2-bed/1.0-bath other listed at $200k.
• At list price, monthly cash flow is $55 ($655/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 $158k (21.1% below list).
• It's been on market 38 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (21.1% 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: Rents rising (+1.1%/yr); 724 active listings in the ZIP; solid renter incomes; 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.
• 2 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $200k implies a 433% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; major 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 6.6% vs local median 5.3% in Augusta-Richmond County consolidated government (balance) — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.