200 8th St St SW

Moultrie, GA 31768

$148,000D+

3 bd · 1.0 ba · 1,179 sqft · Built 1926 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,369/mo
• Mortgage (P&I): −$776
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $207/mo
• Annual: $2,478/yr
• Cap rate: 7.97%
• Cash-on-cash: 5.98%
• DSCR: 1.27
• 1% rule: 0.92%
• Cash to close: $41,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $148k.
• At list price, monthly cash flow is $207 ($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 $137k (7.5% below list).
• It's been on market 26 days — a 2% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (7.5% 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 $4k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#374 in GA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, commute F, employment F.
• Colquitt County (town): math 29% / reading 25% proficiency, ranked #117 of 174 in GA (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Stringfellow Elementary School (math 12% / reading 12%, grade F, #1,041 of 1,228 statewide, top 87%, 300 students, 97% FRL); Willie J. Williams Middle School (math 25% / reading 24%, grade F, #301 of 470 statewide, top 66%, 1,369 students, 85% FRL); Colquitt County High School (math 50% / reading 18%, grade F, #98 of 424 statewide, top 23%, 1,787 students, 64% FRL).
• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 140 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 94 units permitted in Colquitt County in 2024 (0 in 5+ unit buildings).
• Colquitt County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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 $30k; list at $148k implies a 393% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.0% vs local median 4.4% in Moultrie — 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

• Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.