180 Wesley Chapel Rd

Lexington, GA 30648

$102,999C

3 bd · 1.0 ba · 1,120 sqft · Built 1941 · SingleFamily · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$540
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $245/mo
• Annual: $2,944/yr
• Cap rate: 9.15%
• Cash-on-cash: 10.21%
• DSCR: 1.45
• 1% rule: 1.07%
• Cash to close: $28,840

Investor read

• This is a 3-bed/1.0-bath single-family listed at $103k.
• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• It's been on market 63 days — a 6% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $712 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#386 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: schools D+, crime D, amenities F.
• Oglethorpe County (rural): math 40% / reading 33% proficiency, ranked #58 of 174 in GA (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 140 units permitted in Oglethorpe County in 2024 (0 in 5+ unit buildings).
• Oglethorpe County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $103k implies a 87% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1941 — 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 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?
• Crime grade is D 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.