241 Mary M Bethune Dr

Folkston, GA 31537

$90,000B-

2 bd · 2.0 ba · 1,144 sqft · Built 1998 · SingleFamily · Under Contract · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,014/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $242/mo
• Annual: $2,904/yr
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• 1% rule: 1.13%
• Cash to close: $25,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $6k of equity ($622 loan paydown + $5k appreciation (5.5% local appreciation)).
• Location reads 66/100 on livability (#191 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Charlton County (rural): math 28% / reading 33% proficiency, ranked #94 of 174 in GA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Folkston Elementary School (math 42% / reading 42%, grade F, #380 of 1,228 statewide, top 33%, 469 students, 76% FRL).
• Market conditions: 83 active listings in the ZIP; 49 units permitted in Charlton County in 2024 (0 in 5+ unit buildings).
• At projected returns (5.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.5% vs local median 2.9% in Folkston — 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

• 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?
• 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.