379 East Lee St

Dawson, GA 39842

$139,900C-

3 bd · 2.0 ba · 1,004 sqft · Built 1975 · SingleFamily · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,387/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $129/mo
• Annual: $1,552/yr
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• 1% rule: 0.99%
• Cash to close: $39,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $140k. Condition is rated good.
• At list price, monthly cash flow is $129 ($2k/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 $139k (0.8% below list).
• It's been on market 63 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($967 loan paydown + $2k appreciation (1.6% local appreciation)).
• Location reads 55/100 on livability (#508 in GA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D+, amenities F, commute F.
• Terrell County (rural): math 7% / reading 13% proficiency, ranked #167 of 174 in GA (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cooper-Carver Elementary School (math 11% / reading 13%, grade F, #1,041 of 1,228 statewide, top 87%, 482 students, 100% FRL); Terrell Middle School (math 2% / reading 12%, grade F, #449 of 470 statewide, top 97%, 244 students, 100% FRL); Terrell High School (math 5% / reading 5%, grade F, #394 of 424 statewide, top 97%, 309 students, 100% FRL) — zoned schools average 100% FRL vs 79% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2 units permitted in Terrell County in 2024 (0 in 5+ unit buildings).
• Terrell County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 1975 — 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?
• 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.